If you’ve managed to put aside some money, despite a floundering economy and a volatile political reality around the world, you deserve a pat on the back. Well done! You’re one step closer to financial security and that’s not something that should be taken lightly.
That being said, opening a savings account and putting away extra pennies for a rainy day is only the first step towards making your money work for you. You should be investing those dollars and cents as well.
The word investment seems to immediately bring the stock market to mind, which makes sense. Investing in stocks and bonds is a great way to earn passive income and grow your wealth, but it’s by no means the only way to do so.
If you think that, just because you’ve got money in a few ETFs and CDs, you’re doing everything you can to make money with your money—think again. There are alternative investments to consider, asset classes with a low correlation to Wall Street, and can therefore be safer. From real estate to yellow gold and silver bouillon, there are more exciting ways to make money.
Read on for more info about the benefits of alternative investments and why you should consider becoming an alternative investor the easy way.
Diversify your portfolio for safety’s sake.
The last thing anyone wants is to wake up and find out that their future can’t be funded because the stock market has crashed. Unfortunately, this has happened before, and not too long ago. It isn’t pretty. Diversification is key in keeping your assets safe, whether it’s by investing in ETFs or hedge funds with a wide array of holdings, or by diversification of asset classes.
For instance, having some money in ETFs is great, but consider an investment in precious metals, like platinum or gold. These commodities are also valuable, but their worth depends on a different kind of market. That way, even if Wall Street goes off the deep end, your money isn’t all gone.
In essence, that’s what alternative investment is: thinking outside the box about investing, instead of sticking with the traditional investments that most people rely on. This can take many forms: real estate investing, venture capital endeavors, or collecting vintage timepieces are all forms of alternative investment.
It doesn’t have to be hard.
You may be wondering how on earth someone might begin to amass alternative assets or get into the world of alternative investments. It may look hard, but it doesn’t have to be. In fact, if you already dabble in stock trading and know a little about the market, you can make use of online platforms built for this express purpose.
Don’t navigate the stormy waters of alternative investment on your own and put your mutual funds and pension funds at risk. Use the existing resources to make things work in the best way for your specific financial situation. Wherever you are in the United States, it doesn’t matter. Online advisors can help you figure alternative assets out from the comfort of your couch or home office.
It’s more fun.
It’s simply more fun to invest in a classic Mustang or a luxury watch than it is to fill out an online form for more stock purchases. Plus, you can wear stainless steel or a platinum timepiece. You can’t wear a bond. Have fun with your alternative investments while you’re growing your wealth.
Go looking to order Vacheron Constantin watches online, and enjoy having a financial asset on your wrist (or in your pocket, if pocket watches are your thing). You’ll get to put some money into an alternative asset class and look fabulous at the same time.
Saving and investing isn’t easy, but it doesn’t have to be painful. Use the investment strategies made clear by online investment advisors, and don’t forget to have some fun at the same time!