Keeping up to date with the latest trends in the financial market is certainly worthwhile if you want to find the best ways to maximise your returns. The pandemic caused a lot of markets to come to a halt in 2020, but with the arrival and success of the vaccine rollout, this has helped to kick start the economy again, which will hopefully lead to a better financial year. So here are some investment ideas to get you started in the meantime.
High Yield Savings Account
With an ISA savings account, the best option is to put your money into a high yield interest account. If you know you are not going to need to access the money for the fixed length of term that is stipulated, then it is an easy way to accrue interest on your money that would otherwise just be sitting in your bank account not doing much. Of course you would need to have access to other savings for everyday expenditures and in terms of emergency funds, but putting as much as you can in a fixed rate ISA account is certainly worthwhile and easy to do.
Items That Are Collectible
You do not just need to look within the stocks and shares market to find a good investment opportunity. Another way to make money is to start a collection, whether it is jewellery, clothing, alcohol, furniture or artwork. There are everyday items that suddenly become popular in the auction selling market, where buyers are keen to snap up a particular collection of items. So it is worth keeping track of what is currently popular to see if you are able to invest in a few items that in several years time could return a nice profit.
An option to consider for a long term investment is buying one of the many cryptocurrencies that are currently available. There has been a steady increase in its popularity since its initial launch in 2009. Of course it is necessary to do some research to determine what is suitable for your individual needs and how much you can realistically afford. It has certainly gained momentum in the last few years and is worth looking into for a long term investment option though.
Invest In a Company That Is Technologically Advanced
You could invest in a company that adopts algorithmic underwriting to determine whether you are compatible with the risks and algorithms that they are providing. Essentially the more savings they can make on their part will be passed on to you the customer, resulting in a better outcome financially.
The Housing Market
Another area that is certainly worth considering is the property market. If you have some money set aside that you can invest in, then the student accommodation market is something worth considering. There is always a demand for student accommodation, particularly with students arriving from different parts of the world so there will always be the opportunity to rent out a room or space. This could prove to be a worthwhile investment in the long term.
With house prices at an all time high, there is certainly a great deal of interest for buyers to purchase homes at the moment. Lockdown has helped to propel this surge in demand as a lot of buyers have realised that their current homes are just not suitable to be able to work from home effectively and require more space. The number of property transactions in March alone increased by over 49.6% which is the busiest it has been since 2006. If you can invest in property right now then this is sure to be a money earner as buyers are snapping up the chance to purchase properties at the moment.
As with any investment you should do some research before parting with your money so that you are fully aware of the contractual obligations that are involved. You also need to assess your own finances and determine what is suitable for your circumstances so that you are not spending more than you can realistically afford. As long as you are knowledgeable and understand the financial risks involved, then hopefully you can find an investment plan that is suitable for you.