Some Things Worth Investing In
A couple of friends of mine and I were talking over lunch over possible career paths we would take in the future. Though we are all currently employed in the business industry, it doesn’t stop us from dreaming of becoming our own boss. In short, starting our very own business. Although we are still a long way from making a dream a reality, we have discussed several means and things that we want to invest in, perhaps to fund our project in the future. Here is the list of things that we find worthy of investment, not just because we can earn from it but because they help us save money in the long run.
Real Estate
I have never been to New York but from what I hear, it’s very expensive to stay there. A friend of mine currently residing there, Amari, told me that she used to shell out $2,000 monthly on a house she rented before she transferred to a smaller apartment. Even staying at a hotel is more expensive compared to when you go to other cities and states. This is how she realized that investing in real estate is lucrative because people will always be looking for a place to stay even for just a short spell. Another friend, Charles, said that although the real estate can be volatile, the general outlook is good. He also said it’s safer to invest in the big cities. Investing in real estate makes sense if you have cash. However, if you have to take out a loan to purchase property then it will be a lot riskier. If you own a property, you don’t have to pay for rent and should you decide to move to bigger house when you have a family, you can always rent out your old place and earn from it.
Jewelry
Some people think that jewelry is a luxury and a waste of money. I believe, otherwise. After all it has been said that “diamonds are forever.” I think that jewelry will make a good investment because it’s something that you can pass on to your children and their children. In the beginning, jewelries may symbols of love given during important occasions like anniversaries or birthdays. But as the years pass by, they can become heirlooms, a rich legacy of family and love. Another thing that makes jewelry something worth investing in is that it serves as a lifeline when you suddenly find yourself rock bottom without a job and no way to support yourself. Pawning them is your last resort when you need money fast and it will tide you over until you find another job or business that will become your bread and butter. You can visit sites like David Yurman, which will give you ideas on which classic pieces you want to invest in.
Insurance
Not everyone is convinced by the need to invest in insurance. It only sinks in when you find yourself injured and lamenting the fact that you don’t have disability insurance. If you’re young, you might not think long-term disability insurance is necessary but since life is unpredictable, I say you have to be prepare for whatever contingency–including sudden disability due to an accident. If you have a car, you should have auto insurance. Make sure you choose one with proper liability coverage. Whether you’re a renter or a homeowner, property insurance is a must. If you own your home, your homeowner’s insurance will cover almost everything unless it is specifically excluded for example, flood. If you rent, you need renter’s policy so that it can help you cover your possessions in case of theft, fire or things like water damage and lightning. One more insurance policy that you should invest in is health insurance because even if you rarely get sick, there is that rare chance that something will land you in the hospital at least once. But that one time will be expensive enough that it will take you years to pay off the bill.
About the Author Based in San Diego California, Tiffany Matthews is a professional writer with over 5 years of writing experience. She also blogs about travel, fashion, and anything under the sun at wordbaristas.com, a group blog that she shares with her good friends. In her free time, she likes to travel, read books, and watch movies. You can find her on Twitter as @TiffyCat87.
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Category: Investing
