If you have a career or job and a regular income; your monthly expenditures are probably quite routine and planned so that you can pay your bills and mortgage or rent. While keeping on top of your outgoings is crucial for your financial security; there are always other ways to spend your cash which can prove to be a wise investment in the long run. Investments don’t have to be boring either; there is a lot of fun to be had for those with a great eye and a passion for collection items that will increase in value in the future.
If you have money to spare at the end of each month, and can still afford a comfortable lifestyle for you and your family; it might be worth thinking about where next to put your excess income. Investing in, and collecting physical items is a lot less intimidating than larger financial investments, and can become a hobby you have a thorough knowledge of over the years. Buying items piece by piece is also an affordable option for those who don’t have the luxury of a large deposit to pay out but still want to place their money somewhere it can grow. The following are some ideas, inspiration and tips for budding collectors who want to spend wisely for their future nest egg.
Art
Art is subjective; however, there’s no getting away from the fact it can appreciate in value over the years, especially if you have the eye to spot a new artist, early on in their career, who is heading towards success. Getting to know the art scene and having a natural interest in a certain style or genre is the best way to navigate the process and ensure that your money goes towards the right pieces. Art will provide you with interior joy and will be increasing in value in the meantime. Start small, and build up to larger pieces; check out your local auction houses, and do your research beforehand online to discover what pieces are worth so that you’ll never overspend on something as it will only defeat the point of your investment.
Precious Metals
Whether you decide to invest in gold or buy silver; precious metals can provide a reliable place to put your money. Silver coins can be a collectors dream; often affordable, decorative, and certain to increase in value further down the line. Therefore, it’s worth checking out a reputable dealer that will provide gold or silver that are IRA approved. Diversify your retirement portfolio and start saving your money in a different way, with the benefit of a beautiful collection that you and loved ones can enjoy for years to come.
Antiques
Much like art; antiques can be bought at an affordable price, and increase in value over the years. Antiques can be slightly different to art, however, as if you find a gem at a car boot sale and spend very little; you can resell immediately for a great price to another collector. Therefore, it’s about knowing the market, what’s popular at the time, and having some background knowledge of a particular style or era; usually, one that you enjoy and favour having in your home. Knowing where and when to sell will also help your collection grow your investments, and you’ll become a savvy expert in no time.
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