To make money work for you, you need to be able to properly manage it. You need to learn how to invest. This process only at first glance seems complicated and inaccessible to the common man.
The main thing to remember is that you should not invest all your money in one area, and distinguish between investment tools.
The easiest option is to invest in securities and deposits. But there are other tools that allow you to receive passive income. In today’s article, we will look at some of them.
One possible investment option is real estate. There are two options here: make money on the difference in cost, that is, buy cheaper and sell more expensive, or receive money from renting out periodically.
It is believed that investing in real estate is the most effective type of investment. But it is not so.
Yes, you can make money from it. But for investments at the first stage, a decent amount will be needed to buy a home. Another disadvantage: when you need money, you will not be able to quickly sell the property and get it. In addition, it is worth remembering the need to periodically repair housing if you rent it out. And this is also an expense.
Investing in real estate is a fairly significant type of investment. But it requires a careful approach, a detailed study of the market and the intricacies of legislation.
A good investment option is the purchase of precious metals. First of all gold. But you need to invest in gold wisely. Buying gold earrings, bracelets, chains or rings has nothing to do with investing in precious metals.
The real investment tool are gold bars. The National Bank of Kyrgyzstan has been selling them since 2015 with the right to buy them back.
This is a huge advantage and a guarantee of investment security.
But it is worth remembering that gold measured bars require a particularly careful attitude. The metal has a very high sample – 999.9. It is soft, gold can be damaged even by the touch of fingers, cloth or napkins. If the surface is damaged by scratches and fingerprints, the metal immediately loses its value. Then it can be sold only at the price of scrap, that is, much lower than the cost of the precious metal.
But there is also good news. The National Bank has provided measures to protect gold bullions. Gold bars weighing 100 grams are placed in individual cases with a certificate attached, and bars weighing 1, 2, 5, 10 and 31.1035 grams are released in a secure package, which also serves as a certificate. The integrity of the protected packaging-certificate guarantees the authenticity of the measured bars and provides immediate settlement upon their repurchase.
An alternative to gold measured bars are depersonalized metal accounts (OMAs).
OMC offers you not to worry about the storage of ingots and does not limit you in terms of the amount of investments. In one of the banks that offer this service, you need to deposit any amount above the minimum amount set by the bank to open a CHI account. The money will be transferred to impersonal gold at the rate of gold on the day of investment. That is, you will not be given gold in real terms, but your bank account will have your amount of virtual gold, which is tied to the real exchange rate of the metal.
When investing in bullion, you need to understand that this is a long-term investment. It is unlikely that you will be able to quickly earn money on them.
Earn money by subletting
A sublease is a real estate transaction when it is rented from one person in order to rent it to another at a higher price. This is a suitable option for those who do not have the money to buy an investment apartment.
Experts recommend using this method in resort areas or large cities where daily rental housing is in demand.
At first glance, this is a good option. But it is worth considering that you will have to constantly look for new tenants. And you should also make sure in advance that the owner will not be against subleasing. Otherwise, problems and disassembles cannot be avoided.
Open your business
If you have a favorite business, then you should think about how to monetize it. Try to open your own business without leaving your main job.
A promising idea is always the key to success.
Yes, absolutely passive income from such earnings cannot be called. After all, you will need to spend a lot of time and money on its development. But on the other hand, you can earn money doing what you love.
The coronavirus pandemic and lockdown gave a powerful impetus to the development of online services. Why don’t you open a virtual project? Now many people are opening a business on the Internet without providing physical services.
The information business is actively developing – the sale of knowledge and skills.
You can create an information portal or a website with a specific theme, generate traffic and sell advertising. Accounts in social networks work in the same way. Particular attention should be paid to training courses. This type of income requires minimal investment. But the risk is also serious: the project may turn out to be unprofitable due to high competition. And for promotion on the Internet you need a lot of money.