The Best Investments to Make in Your 30s

As you hit your thirties, it’s important to do an inventory of finances to make sure you’re on track to hit your goals. By auditing your income, expenses, savings, and investments, you can ensure that you’re protecting your future and making the most of your funds.

Of course, now could be a good time to make new investments too. If you’re eager to increase your capital or generate extra income, take a look at the best investments to make in your thirties:

Pensions

Paying into a pension is one of the best ways to save for your retirement. If your employer offers a workplace pension, they will typically contribute to it as well, which means you can maximize your savings. However, if your employer doesn’t provide this benefit, taking out a private, individual pension can be a wise move.

Although you may not plan to retire for another thirty or forty years, paying into a pension now will give your funds enough time to generate an impressive return. Furthermore, investing over a long period allows you to overcome falls in the market and cash your pension in at a time when it’s generating the highest outputs.

Property

If you’ve already purchased your own home, you may want to consider investing in property in other ways. Buying an apartment with help from strata lawyers and leasing it to a tenant can generate a second income and potentially increase your capital, for example.

Alternatively, investing in real estate investment trusts allows you to profit from the market, even if you don’t have the funds to buy a second property outright.

Cryptocurrency

If you’re looking for a high-risk investment, cryptocurrency could be a good option. Digital currency has become far more mainstream in recent years, so there’s a good chance you’ll be able to make a generous return, providing you choose the right currency to invest in.

Although high-risk investments can be volatile, it can be a good strategy to lower the level of risk you take the older you get, which means you’ll still have time to make high and moderate-risk investments in your thirties.

Gold

Gold is typically seen as a low-risk investment because it tends to hold its value over time, even when global economies are disrupted and things are looking bleak. Furthermore, gold reacts to market events differently to other commodities, such as oil.

This means that gold can be an effective way to diversify your portfolio. If you stand to lose money on stocks or other commodities in the event of a recession, for example, your investment in gold could offset these losses, providing it retains its value.

Planning Your Investment Portfolio

Making investments in your thirties allows you to use long-term strategies to generate high yields and profitable returns. However, it’s important to consider all of your options before you decide where to invest your funds. Additionally, seeking professional financial, legal and tax advice can help to ensure that you’re managing your finances in the most effective way.

Choosing The Safest Car For Your Family

Are you anxious to find a safe car that will be suitable for your whole family? It’s important to be aware that there are numerous factors that can impact whether a car can be deemed safe. Let’s explore some of the key considerations that you should keep in mind. 

Does Size Matter?

As in our previous article, it’s worth noting that the size of your vehicle can help ensure that you are safer on the road. While larger vehicles could still end up in a nasty accident it’s far less likely that passengers inside will be seriously injured. They have an added level of protection compared to those in a smaller vehicle. For instance, a larger car could even be less damaged when hitting something like a truck that would absolutely obliterate the typical small sports car. Larger vehicles also often have additional safety features such as 4 wheel drive. This provides you with additional grip when on the road and reduces the chance of issues like skidding. 

What About Self Driving Tech?

There are now numerous car models on the market that are equipped with some form of self driving tech. Ultimately this means that in certain situations the vehicle will drive itself. However, you will still need to pay attention to the road to avoid an accident.

While cars with self driving tech are often quite expensive vehicles that have driver assistance can be far more affordable and likely will fit your budget. It’s worth exploring cars with the best driver assistance technology. This will help you stay in lane, alert you when you seem to be getting tired and potentially help you avoid an accident. That’s important when you consider that some roads see more than 983 crashes in just one year. 

Braking Distance

You always need to make sure that you choose a vehicle with a solid braking distance. You need the vehicle to brake as quickly as possible, particularly during an emergency stop. Anything more than a couple of meters in braking distance when going the speed limit is far outside of the norm.

As such, if you find that your car is not braking fast enough, you might want to consider upgrading it to a better model. Be aware that braking distance is impacted by a variety of factors. For instance, you do not maintain your tyres effectively, then your car braking distance is going to decrease steadily over time. 

Age

Finally, a lot of people do save money when buying a car by purchasing an older vehicle. Older cars are always going to be more dangerous by default. They won’t have been designed to the latest safety standards and they also won’t have the latest tech to protect you. 

We hope this helps you find a fantastic safe vehicle that will protect your family on the road. When you find the right vehicle for your family, you will immediately gain the peace of mind you need. Even if you are in an accident, it’s unlikely that anyone in your car will be seriously injured. 

Why Are Bigger Cars A Better Investment Than Small Ones?

Size matters. Well, it matters when you’re thinking about buying a car! Naturally, you come across various cars in different sizes – some are really small and designed for two people, others are massive and can fit a whole family of seven plus two dogs! How do you decide which size is best for you? 

Honestly, you need to approach this purchase as an investment. A car will be expensive, so you need to ensure you get your money’s worth out of it. For this reason, it might be smarter to opt for a bigger car over a small one. How come? Check out the points below to get more clarity:

Better longevity

A big car will almost always outshine a small one in terms of longevity. Why? Because larger vehicles are designed to be more durable and robust. There’s no argument here, it’s simply a fact. Therefore, your car will be less prone to damages and repairs than a small one. If you get into an accident, your car is big enough to escape with a minor dent – rather than being totalled. 

Similarly, consider the potential savings a safe and durable car provides. Did you know that 51 percent or more car accidents result in some type of injury. Injuries mean medical bills, as well as the obvious health implications. A large car can prevent injuries from occurring due to durability and safety. Thus, no medical bills are totted up, saving even more money. 

More practical

Furthermore, a big car is more practical than a small one. In most cases, small cars are aimed at people who live on their own and just need a vehicle to get around town. A large one lets you do all of that, but with enough space for shopping, a family, and your pets. Then, you have some big cars that can actually drive off-road, further improving the practicality. 

Remember, a ‘big’ car doesn’t necessarily refer to a van or a huge 4×4. An SUV falls into this category, and they are arguably the most practical cars around. You have the durability of a 4×4 with the swiftness and manoeuvrability of a smaller car. As a result, they’re highly desirable!

Improved resale value

Provided you keep your car in good shape, a bigger vehicle tends to command a higher resale value than a smaller one. There are a couple of reasons for this. Firstly, these cars usually cost more, to begin with. Secondly, look back at the previous two points! A bigger car is more practical, durable, and safer than a smaller one. So, it’s bound to be more in-demand, thus increasing the price. 

Think about it this way, larger vehicles cater to families, off-roading enthusiasts, and even people with a business. More people will be eager to buy a vehicle like this when compared to a small one. 

In conclusion, buying a large car could be a better investment. It definitely comes with some benefits over a small one, that’s for sure. If you’re thinking about buying a new car, maybe it’s wise to invest in something bigger and more robust?

How To Lower The Interest On Your Mortgage

One of the biggest purchases you’ll ever make is a home. Houses are growing in price and while there are dips in the cost of housing, you want to do what you can to make savings across the board with your house purchase. One of the ways that you can save money is in the interest on your mortgage. 

A house purchase isn’t something that you should mess around about: it’s a huge financial obligation and it can cost you a lot more than you think if you’re not careful with it. While you are looking at ways to save money by choosing to refinance medical school loans, you need to look at other places you can save money on your interest, too. Your credit cards and bank loans – if you have them – can be saved, too. In this article, we’re going to talk about some of the ways that you can lower the interest on your mortgage. Let’s take a look:

Start Shopping Around

You can look for the best rates on your mortgage if you speak to a good broker and shop around. The smartest move that you can make is to shop around for that rate that’s better than the others.

You can compare mortgages, or you can ask the expert to do it for you. Look at which banks and financial institutions offer you the most attractive interest rates, and then go from there.

Speak to The Bank

Whether you have a mortgage broker or not, you need to think about speaking to the bank to see whether you can negotiate your interest rates that you have currently. They may tell you no, but if you don’t ask, you don’t get! If your credit score is a high one, you can ask your lender to match the rates that their competitors are offering. You can even use your credit rate as a negotiation tool to lower the interest as you’re a good customer with a good history.

Add More Money

If you want to reduce your interest rate, put more money down on your purchase. The smaller the loan, the more the lender often charges a high interest to make a profit. The bigger the loan, the higher the interest, too, because there is a bigger risk in lending the money. When you put more of a deposit down on your mortgage, you can find that perfect middle ground between too much interest and even more than that. You could end up saving yourself thousands in interest costs if you do this, so make sure that you are adding more if you can afford to.

Lowering your interest rate is going to help you to pay more onto your mortgage and lessen the squeeze on your finances every month. Your dream home isn’t too far out of reach if you negotiate your finances well with your broker or with the bank. Taking the time to get advice is going to help you to save some cash.

Why Should You Diversify Your Portfolio With Gold And Silver Bullion?

Having a diverse portfolio essentially means owning an assortment of assets with uncorrelated prices. Gold and silver bullions are amongst the most popular precious metals that people invest in. It is a well-known fact that a well-diversified portfolio reduces overall volatility and risk, especially in these uncertain times.

If you haven’t considered diversifying your investment portfolio, here are some compelling reasons for you to do so now.

History of Value 

Unlike paper currency and other assets like stocks, bonds, etc., gold and silver have retained their value. They don’t depreciate. Gold jewelry is trendy, and people look at it to store wealth and pass it on to generations. 

At the same time, silver is widely used to make coins. Therefore, both gold and silver bullions are a store of value, and it makes sense to include them in the portfolio. Buy from a trusted supplier like GBA to get the best quality at the most competitive prices. 

Hedge against Inflation 

Gold prices are inversely correlated to the value of the U.S. Dollar, which is one of the most significant reserve currencies in the world. During inflation, when the local currency loses value, people flock to gold because gold prices increase. 

Moreover, since gold and silver are seen as a store of value, people are encouraged to convert their liquid cash into these precious metals because the currency is losing value. 

Hard Tangible Assets 

Gold and silver bullions are physical assets that you can hold in your hand or carry it in your pocket. It can be discreet, and nobody would know if you were to carry a gold bar with you. Digital assets are subject to hacking and cybercrime. There’s no such worry with physical assets, such as gold and silver bullions.

Popular Precious Metals 

Gold and silver are the most popular amongst precious metals. Gold is expensive but also the most popular. Any strong portfolio will always have some gold amount in it, even if it’s a small quantity. Also, it’s easiest to buy and sell gold.

Silver, on the other hand, is the least expensive of all precious metals, so it is easily affordable, even for a small investor. Also, silver has a lot of industrial usages, so there is always a demand for silver. Investors don’t face any difficulty in selling it either. 

Silver Can Help Meet Small Emergency Needs 

You may need investments to work as a safety net during difficult times. Precious metals come in handy for this purpose. You can quickly sell them to meet an urgent financial need. Also, you may not be willing to sell a full ounce of gold for just a small need. 

Silver bullion can help in this case. It is available in smaller denominations than gold, and you can buy what you need or want now.

Therefore, for smart portfolio managers, diversification provides security in times of recession, higher returns opportunities, and reduced overall risk. 

Of course, you have to make sure that each purchase is an informed and well-timed decision. It is best to take help from a reliable and secure trading company like GBA for any assistance regarding investing and holding precious metals.

How Can A Military Career Improve Your Future Finances?

It’s no secret that joining the military is one of the most popular career paths in the US. With more than 1 million people in active duty, it’s easy to see that this sort of role draws a lot of people in, though they aren’t often thinking about the benefits they will receive in the future.

To give you an idea of how being in the military could improve your future finances, this article will be exploring some of the financial benefits that come with a job like this.

Of course, though, you should only ever join the army if you feel comfortable with this career choice, with a lot of people regretting this when they do it for the wrong reasons.

Pensions

US military pensions are often regarded as some of the best in the world. For those who manage to get into officer positions, retiring much earlier than you would in other careers is often possible.

The pension you can receive from work like this will often be quite generous, enabling you to focus on improving your life for the future. Of course, this doesn’t work for those in lower ranks, as you will be expected to stay in the military for at least a decade or two before you can take advantage of benefits like this.

Mortgages

People often worry about their money when they are overseas, finding it hard to make the same sort of financial decisions that their peers outside of the military will be making.

Thankfully, though, securing a mortgage can often be much easier for those that have served than those who haven’t. Options like a VA loan make it possible for veterans to get their mortgage without having to pay a large deposit.

Loans like this are backed by the Department of Veterans Affairs, making them safe and secure while also giving veterans the chance to buy homes when they haven’t had a chance to focus on savings.

Savings

The limited chances you have to work with your money when you are on tour can actually serve as a benefit to some people. The military will pay you a daily rate based on your salary, and this will be paid to you for each of the days you are working for them.

You won’t have much to spend money on when you are working, with food, shelter, and entertainment being covered for you, and this means that many soldiers come home to massive savings pots. Having someone back home to put this into good savings account for you will be a good way to make the most of it without putting your earnings at risk.

With all of this in mind, you should be feeling ready to start assessing your military options. As mentioned at the start, though, money is rarely a good enough reason to go down a route like this, and you need to make sure that you’re thinking about your life when you choose to join the military.

Managing Your Money When Moving Home

Moving home is an exciting time, and we bet that you can’t wait to get into that new space! However, it can also be a stressful time if you don’t manage to keep yourself organized, especially when it comes to finances.

It’s for that reason that we’ve written this article, and we’re going to be talking about managing your money when you are moving home.

Keep reading if you’d like to find out more about this topic.

Mortgage

The first thing that you need to consider is getting a mortgage. If you’ve not already secured a new home, then this is probably going to be one of the things that you need to do.

Obviously, if you are buying a home outright, then this isn’t going to be necessary, but this isn’t the case for most people. It’s for this reason that you might want to think about using a tool like MortgageCalculator.org to help you work out what you’re going to be able to afford.

Don’t forget it isn’t just the deposit you’ve got to think about but also the monthly repayments. Of course, this isn’t going to give you a 100% accurate account of the mortgage that you will end up with because this depends on lenders, but it will help you on your way to working things out financially.

Moving Costs

You are also going to have to think about all the other moving costs that come when you leave your home. It might be the case that you need a removal team, or at the very least to hire a van to transport the larger items.

You should also think about hiring a cleaning service to come through and make sure everything is perfect for the people who are moving in. 

Selling Your Home

Finally, you’re going to have to think about what happens with selling your home. If you are relying on the money from this sale to help you move into the new home, you’re going to have to wait to move until the sale goes through.

Now, this might not happen in time if you need to move quickly, which means that you’ve got to make your home as attractive as possible. This might entail dropping the asking price to a lower amount so that people feel as though they are getting a bargain. It’s not ideal, but it might be the only choice you’ve got.

If you don’t need the money to move, then this isn’t going to be an issue. However, you still need to think about the costs associated with moving home.

These include things like attorney fees, estate agent fees, the cost of having the home valued, a survey on the new home, and so on. It can end up amounting to a lot of money, we know, which is why you’ve got to work out how much you actually have to spend on this move.

We hope that you have found this article helpful and now see some of the things that you’ve got to work out with your finances when moving home. It’s not simple, but it’s better to put the work in now than to have a nightmare later. Good luck!

7 Tips for First Time Home Buyers

Buying a house is one of the most exciting moments in your life. But it can also be intimidating.

We want to help curb some of those fears. Here are seven tips to help you get into your first home.

Decide how much home you can afford

Before you start saving, shopping, or packing, you need to know how much home you can afford. 

The best way to figure this out is with the help of a mortgage calculator. These online tools take into consideration your purchase price, your down payment, and current interest rates. Some mortgage calculators let you work backward by letting you plug in your desired monthly payment. Fool around with these calculators for a while to determine a baseline of what you can afford.

Don’t forget, though, that these tools won’t typically include other monthly expenses like home insurance and property taxes. That brings us to our next point …

Start saving early — and more than you think you’ll need

If possible, try to start saving as far ahead as possible. The more you save, the more you can put into a down payment that will lower your monthly mortgage costs.

You should also plan on saving more than the actual price of the home. Once you close and make your down payment, you’ll need to plan on paying around 5% of the total cost of the home in closing costs as well. You’ll also want to furnish your home and make any immediate repairs or renovations. 

Improve your credit score

As you’re saving your money, try and boost your credit score wherever you can. A high credit score could help you get a better interest rate on your home.

Here are a few quick ways to boost your score:

  • Make payments often and on time;
  • Pay more than the minimum balance due;
  • Don’t max out your credit;
  • Pay off as much debt as possible.

Do not, however, make any major purchases in the months leading up to your home purchase. That could increase your debt-to-income-ratio and make lenders suspicious. 

Choose the best mortgage for you

We know you’re eager to start looking at houses — and judging some of those interior decoration choices — but there’s still more prep work to do. Stick with us, we promise it’ll be worth it!

Before you pick a home, you’ll need to pick a mortgage type. There are a few options, so work with your lender to decide which one works best for you.

Amy Moser, vice president of mortgage services at Mountain America Credit Union, advises, “Start preparing ahead of time to make sure everything is in order to be able to make this big purchase. Do what you can to improve your credit score, and start cutting back in your budget to save up more and more for that down payment. Every little bit counts.”

Your basic options include the following:

  • Fixed-rate home mortgage: Your interest rate won’t change over the life of the loan.
  • Adjustable-rate home mortgage: Your interest rate could change a few years into your loan.
  • Federal Housing Administration loan: You can get a loan with a low down payment or low credit score.
  • Department of Veterans Affairs loan: Veterans and their families can get a flexible, low-interest loan.

Get a pre-approval letter

Once you have an idea of which loan is most beneficial to you, you can start shopping around for pre-approval letters. Aim to get two or three pre-approval letters so you can compare rates.

Once you pick one, send it to your realtor. Think of this as your golden ticket to entering the home-buying market. This letter shows realtors and buyers agents that you’re eligible to buy and makes you a serious contender in multi-offer situations.

This will require a hard credit check, so don’t be shocked when your credit score changes. It should bounce back within a few months.

Stay strong when it comes to your budget

Now you can start shopping for homes! Self-control is key, here, though.

Adjust your saved home searches to fit well within your budget. Try not to tempt yourself by going outside your desired price range, it’ll only make you want to overspend. Work with your realtor to set stern price limits when you go to open houses.

Do, however, explore homes in areas you might not look otherwise. Sometimes, you’ll only need to go a few miles away to get more bang for your buck.

Don’t skimp on inspections or insurance

Finally, be sure to budget for inspections and insurance. 

You can get a number of inspections done once you’ve gone under contract. Most people recommend looking into meth, mold, radon, and lead levels in your home. You’ll also want a general inspection to be completed — this will tell you if the home is generally safe and what kind of repairs you’ll need to make.

Insurance is usually required, but it’s best not to go with the cheapest, quickest option. Look for one that best suits your area. Most insurance policies are weather-based, so find a policy that will tailor to your specific needs.

Both inspections and home insurance will give you peace of mind in your new home.

The Essential Guide To Investing In A Pandemic Era

If you are fortunate enough to have a nest egg in the bank, you might be keen for it to work more aggressively for you.

In the current unstable economic climate caused by the coronavirus pandemic, people are more cautious with their finances.

You can still embark on a lower risk portfolio for your investments to help you outperform what your savings would accrue if left languishing in a bank account.

While you might be concerned about keeping your job and the value of the property market, you don’t have to put your investments on hold. This would be to the detriment of your financial future.

Being brave and bold is integral to sound investing. While bitcoin is not ever going to make an appearance in your portfolio, there could be room for lower-risk investments that will enable you to make money over the long-term.

Short-term quick wins are always riskier, so forget about these for now. Instead, focus on these sorts of investment opportunities to help you ride out this pandemic.

Bricks And Mortar

Investing in property is still seen as safe as houses (excuse the pun.) By purchasing the worst house on the best street and by investigating property auctions, you could pick up a bargain that could see you outperforming the property market.

Look to purchase in an area that is already well-established and desirable. Consider the sort of investment you want.

Whereas in the past, you would have been eager to purchase cheaply, undertake some renovations, and sell up, all within three months, this flipping style short-term investment can be tricky to maintain when the housing market is so volatile.

With the pandemic showing no signs of abating, potential buyers are cautious when it comes to parting with their cash. They would rather sit tight and ride out the global health crisis, waiting for the housing market to stabilize.

However, buying to let is a great opportunity to purchase a dwelling, make it habitable and rent it to tenants. Ensure that you do your sums.

If you can cover your home loan monthly repayment with the rent that you charge, your bricks and mortar investment will pay for itself.

You can keep the property for a decade or more, before reassessing and possibly selling up releasing the equity that you have built up in your asset.

Your Own Business

While you might not be keen to give up your full-time role altogether, the coronavirus pandemic may have given you time to reflect on your professional goals.

Some people have a burning desire to begin their own money-making side hustle. Think about what you are passionate about and think about how you can turn this hobby into a business.

If you are eager to invest in yourself and you want to set up a business purchasing furniture, upcycling and delivering it across the country, you need to think about protecting yourself legally.

When you are out on the road, you need to ensure that your vehicle insurance covers trips for business.

Ensure that you have the number of a lawyer for car accident injuries, just in case the worst should happen. If you end up expanding and have a fleet of vehicles, this is crucial.

You might want to make terrariums for local community groups, design custom tee shirts for millennials, or you might want to sell your art.

Invest in this and you could have a small side hustle that brings in extra income every month.

Wine

If you want a hands-off investment that requires very little input on your part, investing in your favorite tipple could be ideal.

Think of wine in the same way as antiques or art. The older and more scarce it gets, the more desirable and valuable that it becomes.

You can purchase a dozen bottles of rioja from a vintage year. Store it in your cellar or pay for a professional wine merchant to store it and sit on it for a few years.

You can monitor the wine market in the same way as Forex, and consider when best to sell. Think of wine as a more interesting bank account to tie up your cash.

Low-risk investments are the way to go in a pandemic world. You need to be cautious but not risk-averse.

Follow these inspirational ideas to revitalize your investment portfolio and help your money work aggressively for you. Maintain a balance in your investment portfolio and you will still have the capacity to prepare for your financial future.

Buying Investment Property: Istanbul

As a city, Istanbul is vibrant and bustling and is a magnet for people from all over the world. Unsurprisingly, then, the property market in this location is equally as buoyant. Read on and find out more about the advantages of buying Istanbul property. 

A number of factors combine to make an investment in Istanbul property a sound and realistic plan for people who may not even have considered doing something like this before. The tourism industry here is booming with millions of visitors a year, and, therefore, there is great potential to invest in apartments and villas to lease them out to visitors. Select the right location within the city for your purchase, and you’re almost guaranteed to receive a high return on your outlay. 

Other factors combine to increase the chances of that too, from the low price of property here to the competing demand from a rising population. More than that, the economy is also sound: many foreign investors look to this city because property laws are favorable and the rate of unemployment is low. 

Compared to other cities in Europe where property prices are high, there are many bargains to be had in Istanbul property as well. With the purchase of some apartments costing as little as $70,000, the market is open, and your return on investment will be good. More than that, because demand is continually high for both long and short term lets, you won’t be struggling for tenants or even buyers if you choose to sell in the future. With lenders offering deals as good as a home loan variable rate under 2%, this can be a financially viable solution for a lot of investors. 

An Introduction To Investing In Istanbul Property

There are many benefits that are associated with investing in property in this area, including high returns on investment, a booming tourist industry, and much more. Continue reading to discover more about the ins and outs of investing in Istanbul property.

There is no denying that investing in Istanbul property is a wise decision, but this does not mean that you should rush into the process or that you can afford to take shortcuts when conducting research. There are plenty of properties in the area, and lots that need to be considered. You should research the various areas, the different rental prices, and it is always a good idea to take a look at forums and other websites where you can find tips and advice that have been left by those who have already purchased a property in Istanbul. 

Istanbul may not be Turkey’s capital, but it is the leading city when it comes to the property market in the country. It is also one of the fastest-growing cities in Europe. Despite this, properties are still relatively cheap when compared with those in other cities in Western Europe. However, do be warned that not all properties are cheap, you can find million-pound properties in the more desirable and exclusive areas of Istanbul. This highlights why you need to conduct your search with care.