People often say you should make your money work for you, but this is often easier said than done. Many of those who have worked hard in their lives and put away savings aren’t sure of how to put their money to work. Like myself for example. I have always worked on the principle that 30% of my income would be saved and the other 70% would be to spend, this left me with a hefty chunk of savings that I wasn’t really using. Sure I had enough for a rainy day but the surplus was simply sitting in my account. I began looking into different ways to make money using the cash I already had, and over the last few years have been doing just that with great success. There have been some failures but overall, its looking good. Here are some of the places I invest my money.
My first foray into investment was commercial real estate, a factory unit to be precise. I started this investment after reading some Welfont reviews. Welfont is a brokerage firm whose customers spoke highly of the firm and their methods to help investors get ahead in real estate. I currently rent out the factory space and I’ve already made my money back and receive monthly income, which is all profit, I couldn’t have done it without the expertise and great service that Welfont provided me with. If you want to get involved in real estate, then find a great broker, read up on the industry and get investing.
It took me a little while to decide on my next investment opportunity and after a bit of research I decided on the oil industry. This was predominantly in the futures market. Futures are contracts that predict the price of oil in, lets say 2 years. In 2 years time when the contract expires, if the price of oil is higher than on your contract, you are up on the price of your contact. During this time you can opt to sell your contract for a profit if the oil price looks good. So far, none of my contracts have expired but the prices are looking good.
Stocks and Shares
This is where I am looking to next, but I haven’t invested anything yet. I am still in the process of finding a good broker and studying the industry, but stocks and shares look to be a great way to make money, when the market isn’t too volatile. Investments like these require patience. Once you’ve invested and the price starts to move, you need to know when is the right time to sell. This will come from experience, knowledge of the market, and advice of the broker. Another option here is to invest in more stable shares that pay you a dividend. This way you can sit on your shares for a longer period of time and simply receive small kickbacks when the dividend pays out.