We all want to live better. Simple things are primary, of course: we all want to have enough food, water and shelter to get by, and we want to be safe. But once these basic needs are met we have a yearning to have more. We want a nicer home in a better neighborhood, we want a car (and then a better car), we want our children to have the best clothing, toys and education… we always want more. And it is alright to want better for your family, to want to enjoy the life that you work hard for. But to have the lifestyle that you want – a comfortable home, a nice car, money to do the things that you enjoy – you need to work hard and invest well.
In this article we consider four ways that you can invest your money to make yourself wealthier in the near future or secure your wealth into retirement.
- Invest in gold.
Precious metals are an age-old, but still very lucrative, investment. There is only so much gold in the world and yet it has so many uses in modern times. Sure, people pay a lot for gold jewelry, but it is also used in various types of technology. In fact, gold is becoming more and more commonly used in technology, which is part of why the price has been soaring up in recent years.
- Buy the best stocks.
The stock market can be a scary place, but it can also be a lucrative place. Google stock, for example, soared well over a thousand percent in the first ten years. This means that if you invested one thousand dollars with Google when they first went public you could have stock worth over a million dollars in just ten years – amazing. Of course, losses can be just as sobering. This is why it is important to diversify and research your stocks. Researching stocks means understanding the company that you are buying into, the history of the stock, and their potential in the future. Diversifying means buying stocks of different types, for example, not putting all your money into oil companies or technology stocks. If you are not financially savvy then seek the advice of an investment advisor, but choose one that you pay by the hour not on commission.
- Invest in structured settlements.
If you have a bit of extra money now and you want to invest it for a higher return in the future then consider this: many people want to sell structured settlements to get cash now. These are people who are sitting on annuities from lawsuits that they won, or from lottery winnings, and they want to get cash in hand now. You can work with a company to safely purchase these future payments, guaranteeing you a nice income stream in the future for cash output now.
- Buy a property and rent it.
Real estate is always a smart investment. While there can be short term highs and lows, over time real estate almost always increases in value. One great way to make money is to buy a building and then rent it out for an amount above what it costs you. This way you pay the building off with rent money and put a few extra dollars in your pocket now: it’s an investment that pays now and later.
Living well doesn’t have to mean being rich or owning a mansion. But it does mean setting your own goals for what living well means to you and then working to achieve them. Smart investments can help you to achieve those goals.