While many people are satisfied to simply work in an office 40 hours per week, you want to kick start your own empire and get your bankroll moving towards a financially successful future. One of the best ways to do this is to maintain multiple streams of income, including long-term investments. While your small business is picking up speed, you can use part of your cash flow to make wise decisions to secure your financial future for the long haul.
Invest in Properties to Rent Out
While the idea of a landlord isn’t thrilling, the money that you can make as a property owner should. Buying a property to rent not only gives you the opportunity to sell the property at an increased value years down the road, but allows you to make between 8% and 10% per month against what you’re paying for a mortgage. Over time, this can add up to tens of thousands of additional dollars on top of what you would have made just from flipping the house in 10 years.
If one isn’t enough for you, you can continue to invest in more properties. Provided you have the capital, an investment property makes an excellent additional income stream. As for that landlord part? There are plenty of business that are willing to handle the job for you while still being able to put a few dollars in your pocket each month.
Big Tech Stocks
Don’t be fazed by the fact that Google and Apple are consistently sitting at an extremely high value right now. Normally this would deter folks from buying, but tech stocks are on the rise as the online world is vaster than it ever was.
Investing in these companies is like investing in oil. As these stocks grow, they continue to split and offer more stocks for investment, which helps deflate the value of the stock and allow buyers to pick up even more. Jump in on this bandwagon early, and you could have it made by the time the iPhone 6 comes out… whenever that may be.
Gold is about as smart of an investment as real estate. In the last 20 years, the value of gold has more than tripled, and it is expected to continue rising over the next 20 years. While short-term investments offer more risk, any long-term investment you make in gold is bound to pay off, simply by the process of inflation, which drives up the cost of everything in our economy.
When considering investing in gold, don’t get cocky and try to make a quick buck. The slightest shift in economic hardships, and you could be looking at a large debt which would prevent you from purchasing more of this guaranteed mineral. It’s best to hold on to it and watch the price rise even more over the long haul.
About the Author: Tanya Harris is a serial entrepreneur who writes about marketing, property investment strategies, and escaping the 9 to 5.