At some point in your life, you’re going to start wondering about investing: what’s worth investing in, when to start, and all of those fun questions. I’m not here to tell you what to do, that would depend on your personal financial situation, specific goals, and what resources you have available to you depending on where you live. I’m going to give you some suggestions of things to look into, however, that might help you get inspired to invest. Here are my top 4 ways to invest this year:
1. Crypto Currency
This is one area where you can make or lose a ton of money – but don’t let that put you off, you just need to spend enough time doing research to figure out what would be the best option for you. Many people have made considerable money from Cryptocurrency, but it’s been a little bit of good timing, little bit of luck, and a little research too. One of the best things about Cryptocurrency is that you can invest from the comfort of your own home and you can manage your portfolio easily. Check out VirgoCX for more information.
2. A Rental Property or Rental Room
Airbnb is a great way to make a considerable side income. Obviously if you have the funds to invest in another apartment or house to rent out, then you can do very well for yourself, but you can even rent out a spare room to bring in a little extra money. It might feel a little overwhelming managing your own little mini hotel or renting out a room, but there are so many things you can do to automate the process, making it an almost passive side income. For example we rent out an apartment that we own, and we have hired a cleaner to manage the cleaning aspect and we factor that into the fee we charge our guests. We have keypad entry, so that we can create codes for our guests to enter and we don’t need to be physically there when they check in.
3. Career and Education
Considering how much time we spend working full time – it’s the majority of our waking hours – I think it’s a good idea to have a job that you not only like, but that makes you feel like you’re achieving something each day. That’s why I think investing in your work and education is one of the greatest investments you can make. It can show returns in the form of a happier disposition, but also financial rewards which obviously can be extremely helpful. Maybe it’s time to study that thing you always wanted to study, or to invest in that course that you think will take your work to the next level. Investing in yourself and your education is a great investment!
4. Your Family
There’s nothing more precious than your family, and it’s easy to remember to invest in the younger generation, such as your children and grandchildren, but it can be challenging to remember the older people in our lives too. If your parents, or grandparents, are ageing and struggling to get by alone, it might be worth investing in a little help for them. seniorsforseniors.ca offers a range of services that can help the elderly in your life feel more independent, less lonely, and properly cared for. Your family is your greatest asset, so don’t forget to invest in them too!
Focusing on investing is a great way to ensure you’re moving forward in life.