When we think about investments the usual suspects pop into our minds. We think of the stock market. We think of bank accounts of all kinds, not to mention any tax free options we can get our hands on.
We probably don’t think about wine, art and rare coins. And yet all these items can net you a tidy profit – if you know what you’re looking for and you are prepared to go look for it.
If you need some inspiration, here are three reasons why you might want to consider becoming an unusual investor.
1: it opens up plenty more investment opportunities
If you stick to financial investments such as stocks and bonds you’ll be limited to those specific areas. Once you open your mind to the idea of investing in other areas you will also open up the possibility of reaping rewards in these different areas.
Not all investment opportunities will suit everyone, but it is definitely worth looking into. If you have a passion for fine wine, why not invest in a few rarer bottles to benefit from in a financial sense?
2: if you invest in objects you can do so as a hobby
Few people will see investing as a hobby. However, when you start looking into unusual and quirky investments they can become just that. This is why it is usually better to pick an area you have some interest in. If you love a particular type of art, look for the possibilities to make money in that area. If you love wine, figure out how to start investing in older bottles. If you have a passion for rare coinage, start looking for sources of old coins that could make you a nice profit in years to come.
3: there is the potential to make huge gains on your investments
We’ve all heard of the people who spend a couple dollars on an unwanted picture at a sale, only to find later that it’s worth a couple million instead. These stories aren’t uncommon but they shouldn’t be viewed as par for the course either.
However there is still the possibility to make impressive gains on any unusual investment you make, whatever area it’s in. Knowledge is power here and the more you know and understand about your choice of investments the easier it will be to search for and find the items you want to invest in.
Clearly these types of investments are not your typical investments. You won’t get them from a bank. You’ve got to put in the legwork to find items to invest in and to research the particular items that are worth buying. For example many people buy brand new toys in pristine boxes and put them away with the hope they will appreciate in value in years to come. With knowledge and experience you stand a better chance of getting it right and reaping the rewards from your unusual investments. It’s certainly worth a try, don’t you think?