It doesn’t matter if the economy is running fast and high or in the doldrums, we all feel we need to have a smart way to put something aside for a rainy day. Whether it is investing for our kid’s college funds or our own retirement, looking for a safe investment has to be one of the goals of married life. But unless you have a stash of rare coins around you can hock, the best bet is still the slow and steady investment in retirement plans such as your own IRA.
While there are some sets of stocks that are seen as a sure thing such as Blue Chip Stocks there are always risks involved when it comes to finding a good investment beyond maxing out your IRA or 401(k) plans. Here are a few ideas that may surprise you, but are actually pretty good for getting a decent return on your investment.
Rare Items – Cars, Stamps or Coins
While we make fun of the idea, in actuality if you know your way around something that is rare and collectible it is always a good way to diversify what you have invested. Comic books that were plentiful in the early fifties are now often rare and valuable, especially if they are the first issue of a highly successful run such as early Superman titles. Antique cars are another valuable investment, providing you know your way around such items and have a way to keep them in good condition. In fact, collectible rare cars have out performed the S&P500 quite often in the last decade or so.
Smart traders know that investing in gold can often be the way to go. While it is true that it has had its share of a bad run, particularly when word gets out that it is a hot investment, it remains a pretty solid investment. Some people invest by buying jewelry and others invest in gold bullion, which is the most common investment for gold. Just make sure you know that what you are buying is the real thing.
Pets are on the Rise
No, we aren’t suggesting that you spend enormous amounts of money on your pets as an investment. But the truth is more and more people have pets, and they often invest in them to make them a part of the family. That is why investing in stocks that are connected to the care of pets is such a great investment these days. Pet supply stores, chain veterinarian offices and other pet related stocks are going up faster than most can imagine. If you are looking for an investment that won’t go to the dogs, pets just might be it!
Thinking Outside of the Box
As you can see from these suggestions, the best way to think about additional investments is to think outside the box. Of course, we don’t suggest investing in some weird wacky thing just because it is different. You have to first do the research to understand where this investment will take you.
These ideas are all tested investment packages, often even possible to find through your financial advisor and a set package of mutual funds. Whether it is a green investment in alternative fuel companies or putting your money into entertainment companies, finding the right investment may pay off not only with a better retirement fund, but also with the knowledge you helped fund something you believe in.