If your family functions well as a team, then you may have considered investing together at one point or another. When you’re ready to begin, consider the following “golden goose” investments for substantial returns.
Even if you are just now learning about cryptocurrencies like Bitcoin, you are still not too late to get in on the volatility and high yield profit potential this investment opportunity presents. In fact, many cryptocurrencies are still dirt cheap, whose potential for increasing in value has not yet been driven up by market demand.
Additionally, if you get to know the cryptocurrency market, then investing a few hundred dollars in the right area could turn into considerable wealth for your family in the short term. But remember, cryptocurrency is a very volatile market – never invest more in one thing than you’re willing to lose.
When it comes to investing, stocks can be a reliable source of regular income. In fact, if your family does not need the money earned right away, a dividend reinvestment plan (DRIP) account will redistribute the dividends earned off these stocks back into buying more shares of the dividend stocks you already own.
This automated investing strategy continues to build your family’s wealth once the DRIP account is set up. Over the long term, this can prove to be a lucrative investment strategy.
If your family wants to invest together, then your family will need to take some time to understand the precious metals market. Owning precious metals is a critical key to helping you balance your investment portfolio.
The best time to buy precious metals is when the strike price of gold, silver, and platinum is low. Since these investments are generally safer, having them as part of your family’s portfolio can help protect your wealth in times of economic uncertainty.
No family investment portfolio is complete without a few real estate holdings. Rental properties can be a huge profit generator that pays your family’s wealth-building accounts monthly. With money regularly coming in like this, your family will have a regular stream of income to invest in real estate or to put towards other lucrative, profit-generating opportunities.
When done properly and intelligently, real estate is a time-honored investment strategy for huge gains in the long term.
Often overlooked as an investment strategy, purchasing highly collectible items can be an excellent way for a family to build wealth. From difficult-to-find toys to rare classic cars, people looking for hard-to-find items will pay you handsomely to acquire what they desire.
Like any other investment strategy, the collectibles market requires a good amount of homework. Some people have even replaced their 401K retirement strategy with investments into high yield profit-generating collectibles. Why else do you think rich people buy up so much aged wine and fine art? Because affluent families genuinely know the profit potential of holding on to these types of highly lucrative collectibles as a long-term investment strategy.
There is always an opportunity for your family to invest somewhere. While not all investments will result in your family obtaining massive profits, this will be part of the learning curve that will help your family learn where the real earning and profit potential resides when investing. When you find the investment opportunities that you and your family are best suited to take advantage of, you will quickly see how a little education and hard work to become savvy investors will pay off in a big way for your family.