Everyone has the desire to make a bit of cash on the side of their full-time job, and one way to do this would be to put your savings into a stable investment this year. With unemployment rates at an all-time high as a result of the COVID-19 pandemic, it can be a real worry that you’re going to face being made redundant in the near future, which is where an investment could help make you financially stable for the foreseeable future. In this guide, we’re going to look at some of the best investments you can make in 2021 and beyond:
1. Buying and selling gold
Gold has always been a highly sought-after material and is still very much in trend in the investment world for 2021. One option would be to buy and sell gold jewelry, but this is very much a niche market, so you could instead consider purchasing gold nuggets. You can obtain real gold nuggets for sale online that can be sold for a no-obligation offer and potentially even allow you to make a profit. By choosing this type of investment, you can have the peace of mind that you have an asset to sell whenever you desire if you require making extra cash.
Stocks are an extremely popular investment type, and this has been the case for decades. While the stock market can be unpredictable, it’s all about playing the medians and placing your money in the correct accounts in the hope of striking lucky.You may want to be choosier with the stocks you’re buying into, as it can be difficult to know how they’re going to perform, and this will all depend on how much profit you’re going to receive.
3. Peer-to-peer lending
Peer-to-peer lending, otherwise known as P2P, is a new type of investment that you may not have heard of before but could earn back a significant profit. This form of investment is the act of lending cash to new businesses that need financial support upon starting out. This typically works by combining money with several investors to form a loan that one individual needs. From this, you’ll receive a fixed repayment each month alongside interest, but there is a significant risk to this, such as whether or not you’ll get the money back that you have allowed a business to borrow, especially if a business were to collapse.
4. Real estate
If you have a large sum of money in the bank, you could consider purchasing real estate before letting it out to tenants or renovating it and selling it on for a substantial profit. In most cases, all you need to do is make a deposit, and the bank will finance the rest of the cost, providing you’re in a stable job and have a good credit history. Being a landlord can take a great deal of time and effort; therefore, you may wish to invest in a property manager to collect money from tenants and deal with damages.