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.
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.