For any retirees out there who have found themselves in a position where they are cash rich after finishing work, you are not alone. This was the exact position that I found myself in 3 years ago and having paid my mortgage, put my kids through college and taken as many vacations as I could muster, I found myself with little to spend my money on. After a chance meeting with an old work friend who told me about investing, I decided that I would dedicate my time and my money to growing my wealth. Truth be told I wanted to do this to keep busy and leave something for my kids after I go, it has now turned into quite a hobby and if you are looking to grow your wealth, here is some places that I have invested mine.
Bitcoin
I love it when technology changes how we go about doing things and with this new digital currency Bitcoin, that is exactly what has happened. A family member actually told me about Bitcoin and after reading up thoroughly, I was confident enough to open a Bitcoin wallet and start buying some of the digital money. I could have sold my Bitcoins 5 times over for a profit but I have decided to hang on for them to gain even more value.
Oil Futures
I already knew quite a bit about the oil industry and the oil market thanks to my many years working within this field. For this reason I thought that this would be the best places to get started in terms of my investments. I opted for futures which are contracts that predict the price of oil in the future, the contracts are bought and sold as the oil price changes and when the expiry date is up, you stand to win big if the oil price is higher than your contract. This has been my most successful venture yet and if you want to get involved in this then I urge you to ensure that you know the industry inside out.
Real Estate
My latest successful venture has been in the real estate market and I was lucky enough to buy up a block of 8 luxury apartments in an up and coming area of my hometown. The investment was very heavy yet I wasn’t too worried as unlike with stocks and shares or oil futures, you can physically see your investment. The lack of volatility in the market also made me more confident and just 12 months after my original investment, each apartment is in positive equity of around 31%. Currently I am renting these properties out but if the price continues to rise then I simply cannot say no to that kind of profit.
I am not suggesting that I have never lost in my investments, I most definitely have and you must be prepared for that, the key is to have more winners than losers!