With interest rates at all-time lows, traditional savings accounts are no longer the best place to keep all your savings. Of course, they’re risk-free, but they don’t provide a great return on investment, and your money isn’t working for you. So, as well as this traditional form of investment, you should also look to diversify your portfolio into other, slightly more risky forms of investment. Here are four things you could look to invest in.#4 Property
It’s no secret that the price of property is on the up. What people at first thought was a bubble now seems to be a permanent spike, with no sign of prices slowing down.
If you buy in the right area, the property will also be perfect for the buy-to-let market, which means you’ll be earning money on two fronts: the rising value of the property and getting someone else to pay off your mortgage. What could be better?
Likewise, if you own a physical business, then you’ll know it’s becoming harder and harder to compete with online businesses. Don’t give up – there are a few changes you can make to increase your street appeal, and ensure you’re finding new customers when they’re near your business. A great way to do this is by using cafe barriers. Visual marketing is a great way to activate desire in your potential customers. If you own a bakery, then some images of a delicious sandwich or cake will trigger the customer’s interest and hopefully land you a new customer or two. They’re a great investment, that are low cost, but can have dramatic returns for you.
#3 Classic Cars
Although regular used cars deteriorate in value, classic cars often increase in value, and the correct car can potentially be worth millions.
Finding the right classic car, however, is difficult, and it’s a long term investment, as its value isn’t likely to rise much over the coming years, and it’s likely to take decades instead.
Many people have been predicting future classics for a while though. So, if you pick up the correct bargain, you could have a nice little earner.#2 Vinyl Records
Vinyl has undergone a resurgence in recent years, and there’s some big money in it now. Vinyl is also a great investment because your initial outlay is so low. You can buy a record for around £10.
Like with cars, much of them end up worthless, but the odd few can be worth hundreds if not thousands if you buy smartly. Take a look at Record Store Day to get started.
#1 Stocks and Shares: Driverless Technology
If you’d rather invest in something abstract rather than something you physically own, then stocks are a great choice. The key to successful stocks and shares trading is finding an industry on the up, such as the driverless technology industry.
As this blog from First Response Finance shows, driverless technology is really starting to take shape and it’s a matter of time until it reaches road cars. By investing in the businesses behind this technology, you could witness huge rises in stock value that leave you in a great financial position.
To conclude, although savings accounts are still widely used, they’re not as profitable as they once were. As such, you should look to diversify your investments to provide the biggest return… as long as you’re happy with the risks.