As a rule of thumb, you should always diversify your income streams and investments since all of them carry some level of risk. On one hand, there are the more widely known investments like bonds, stocks, and mutual funds, but on the other, there’s a world of possibilities that can bring a lot more profit and entertainment to investors.
1) Investing in Cryptocurrency
Cryptocurrencies are digital currencies that have gained a lot of fame over the years. Now they’re being regulated by governments all over the world, and becoming even more safer. The first and most known one was Bitcoin. After Bitcoin, many other digital currencies were created such as Ethereum and Ripple. With the massive volatility of these currencies, you can earn a lot of money. If you have a high-risk tolerance, this investment is for you.
2) Peer-to-Peer Lending
Peer-to-Peer Lending, or P2P, is a way people can lend money directly to other individuals without a bank. Depending on the risk of the borrower, you can earn up to 27% interest. There’s a really low entry barrier, as low as $25 dollars. The most famous websites for these types of investments are Lending Club, Prosper, and Upstart.
3) Invest in Real Estate Without Buying Property
Do you want to start investing in real estate but don’t have enough money to buy a property? You have to consider that real estate is not passive, because you’d have to maintain and manage your properties. There are two leading companies for crowdfunding real estate, Fundrise and Realty Mogul.
4) Invest in Startup Companies
Did you know that you don’t have to be wealthy to invest in new companies? Since many companies fail, it’s important to remember that this is a high-risk investment, but it can bring you huge returns. They don’t ask much to start, and you only need $10. There are a few options to choose from, like Seedfunder, WeFunder, or Microventures.
5) Collectibles and Antiques
People love collecting stuff like comic books, magazines, coins, and art, which can be sold for a lot of money. If you have a good eye for this type of thing, you can attend garage sales, flea markets and on sites like eBay to hunt for products with low prices and sell for a high price.
6) Wine
People have been producing wine for thousands of years and it’s still popular all over the world to this day. A bottle of wine can go from $1.99 up to $188,336. That being said, wine enthusiasts have been buying wine with the intention of gaining a profit, since it can increase its value over time.
7) Vending Machines
Investing in vending machines has been growing in popularity because of its low start-up costs, flexibility, the potential for growth, and passive income. Start by considering which product you want to sell, then you’ll need to decide where your vending machine will be located – airports, hospitals, shopping malls, schools. You can start small by buying a few machines to test and learn about the market, and grow over time.
