In this day and age, having a side hustle is key if you’re looking to achieve financial success.
There are many such hustles, with long-term investments being the strategic and patient way to secure your finances.
But in order to invest, you need capital, aka a certain amount of money. Many want to invest but they cannot as they don’t have the funds to do so.
However, if you have an old car lying around, you’re in luck. You can sell your junk car today and invest for the long term.
Here are the best long-term investments after you sell your broken-down car:
When you think of investing, you automatically think of the stock market, right?
Well, the issue for many is that there are countless stocks to choose from and put your money in. Stocks can give high returns but are usually volatile – it’s all about doing the research.
But if you lack time and don’t want to take high risks, then it is recommended that you put your money in a stock fund.
This is a type of fund that’ll give you diversification – stocks in more companies. It’s less risky and is easier than analyzing each stock individually.
The good news is that you need a minimum of $1000 dollars to invest in a stock fund. Get instant cash for your vehicle and invest now!
If you’re looking for high-risk, but high yield, growth stocks are the way to go.
These stocks are mostly rising stars in the tech world and you have to be careful when deciding which one to invest in.
You have to conduct your research and try not to put all your eggs in a single basket.
You don’t need a lot of money to invest in them, but you do need brains and luck. Sell your used car at the best price and put some of it in the stock market today.
There are various types of bonds available for sale, issued by different entities and carrying differing risks. When you buy a bond, you get paid a set amount of interest per year.
Bonds have terms and you are paid the principal – the original price of the bond – after the term is over. It is a low-risk long-term investment, especially if you buy bonds from the government.
On average, a bond costs about $1000 which is easily obtainable once you get money for your junk car.
If you’re active on social media, you’ve probably gotten a whiff of all the money that’s in real estate thanks to all the ‘gurus’ promoting their investments.
However, the general perception is that you need a lot of money to be able to invest in real estate – it is a correct assumption.
But you can invest in REITs and REIGs for as low as $1000 and $5000 respectively (Investopedia).
These amounts are achievable if you sell your old car for cash, so you better get started.
These are some of the oldest investments in the book and the fact that they’re still the go-to in many developing countries is proof of how reliable they are.
They include gold, silver, and precious stones, agricultural products, and even oil. As long as what you’ve bought is legit, it will be low-risk and will protect you from inflation as well.
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