Three alternative investments you shouldn't ignore
I'm sure that you've heard so called experts around the braai tell you exactly what to invest in next, “My Uncle's boss's sister bought this share and today she's a millionaire.” Well, if that's where you get your investment information from then I'm seriously concerned.
You see its important to know what you're talking about when it comes to investing your hard earned money. That's why today, I am going to give you three alternative investments that you can consider if your uncle's boss's sister's share tip doesn't work out for you.
Alternative investment 1 – Property Investing
Property investing is a long-term way of growing your wealth. It means that you won’t be ale to access the money you’re putting into the property for at least ten years. If you’re renting out your property, you’ll also find yourself constantly fixing and upgrading the premises. The good news is, that the money you put into renovating and maintaining a property increases the value of the property and will give you better long-term returns.
Alternative investment 2 – Start your own business
Most people never think about investing in a business as a viable investment solution. That would be a mistake. You see if you manage all your risks, like location, demand-and-supply, competition and resources, then you could be sitting on a potential gold mine. Best of all, you don’t have to own the business for the rest of your life. You could grow it into a viable enterprise and then sell it for a profit.
Alternative investment 3 – Unit trust investing
Unit trusts aim to deliver two specific goals. The first is to protect your investment against inflation and the second is to grow your capital. The risk is lower than investing in shares this means that in the short-term your returns are lower. Over the long-term you could stand to make a decent profit. A specialist manages your money and moves it around in the markets to make sure that you come out on top.
There you have it. Three alternative investments you can consider to grow your wealth.
Let’s build your wealth together,