If you are in the envious position of having one million dollars that you wish to invest, of course, there are many options. You could find a small business with potential and hope that they make it big time, or you might prefer real estate; either way, 1 million dollars is a substantial investment and, in this article, here are a few suggestions for a profitable investment:
5 things you can invest in with 1 million dollar
Rental Properties –
You could invest in at least two nice properties and rent them out to professional people. The secret lies in property management. Hiring a property management company means they take all strain, dealing with tenants, while also maintaining the property. You have to take on a lot of responsibility when you become a landlord and the property management company will ensure that you comply with the many tenancy laws.
Forex Trading –
We don’t recommend that you start trading currencies without doing some serious homework first. Yes, there is money to be made trading currencies, but like any other form of investment, there are risks involved. You could start by making a connection with a known Forex broker and with their help, you could learn enough to start trading.
Gold –
It isn’t difficult to acquire this, as long as you go to an established gold dealer. City Gold Bullion is the top place for gold bullion in Brisbane. However, if you prefer to transact with a dealer in your city and you aren’t located in Australia, a quick Google search should lead you to a reputable dealer near you.
As for storing gold, you can rent adequate space in a local vault. Of course, a lot depends on the term of your investment. If you are looking for a 12-month or a 5-year investment, we recommend that you seek financial advice if you are planning such a large investment. You would also need to arrange secure transportation for that amount of gold.
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Collecting Art Or Antiques –
If you have one million dollars sitting in the bank and you are a lover of fine arts or antiques, a few wise investments should see your wealth increase. Of course, you would need to know your antiques and carefully consider all the variables before making an acquisition. The same applies to antique art; certain oil paintings would make for attractive features in your home – insured, of course.
Gemstones –
We don’t recommend that you invest in gemstones unless you are very knowledgeable. There is money to be made buying diamonds from wholesalers, especially if you have an association with a few custom jewellers.
Sourcing fancy vivid diamonds, emeralds, rubies and sapphires are the key to success and the closer you can get to the actual mine, the cheaper the stones. The ideal market is to supply hi-end custom jewellers, who make bespoke creations for the wealthy; they are always on the lookout for the best-graded gemstones and if the price is right, the jeweller will do business with you.
Whether you choose gold or real estate, investing money requires a lot of homework and research. There are always risks in every form of investment. You should have a diverse investment portfolio and if an asset is not performing, consider making some changes.
