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Secure Your Future with these 5 Smart Investment Decisions

Secure Your Future with these 5 Smart Investment Decisions

Whether you’re saving for retirement or just to gain peace of mind, certain investments are better than others. In fact, investing in the wrong assets can actually be detrimental to your portfolio and everything you’ve worked for. With that being said, it’s important that you take an informed approach when making financial decisions in the coming months and years. Let’s take a look at five of the smartest investments you can pursue.

1. Gold and silver

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    When you look back at history and think about the ebbs and flows of global economies, what’s the one thing that’s never failed? The correct answer would be gold. In the more than 5,000 years it’s been used by humans, the value of gold has steadily increased.

    And according to reliable financial institutions, there is currently only enough gold for every person on earth to have one-third of an ounce. However, people are being born much faster than gold is being mined or discovered.

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    That ultimately means that gold will become increasingly scarce and values will continue to grow in the future. It’s the safest investment in the world and always will be.

    While gold is arguably the best investment opportunity, silver is still a safe choice and very lucrative. It’s also true that there’s currently less silver available on the earth than there is gold. That, combined with its relatively low price point, makes silver a no-brainer for investment and future financial security.

    2. Fine jewelry

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      Finally, it’s worth considering fine jewelry. This is a very nuanced investment sector and – much like gemstones – requires you to know what you’re looking for. In addition to the weight of gold, silver and diamonds, you also have to know about things like cut, clarity, quality and age.

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      However, if you do your due diligence prior to buying, you can often earn a hefty return in the end.

      According to Noam Flint of Naturally Colored, a colored diamond manufacturer, “Fine jewelry rarely depreciates and makes a solid financial investment for savvy investors interested in holding on to something for many years or decades.”

      3. Real estate

      family-home-475879_1280

        While the recent housing crash may have scared away novice investors, experienced financial experts know that real estate will always increase in value over any 10 year period. Think about it – there’s a limited amount of real estate and a rapidly increasing population.

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        Simply looking at the principle of supply and demand will show you what direction the market will head in over any extended period of time. From tax benefits to steady monthly cash flow, the benefits of real estate investing are numerous.

        4. Home improvements

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          If you’re like most people, your home is your biggest financial asset, and it’s time you start treating it as such. While the actual real estate your house is sitting on will appreciate over time, the physical structure will naturally depreciate if you don’t take care of it.

          Certain home improvements, while they require upfront capital, bring a high ROI when you choose to put your home on the market. Some of the most cost-effective home improvements projects include replacing the front door (113%), adding a deck (87%) and performing a minor kitchen remodel (82.7%).

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          5. Gemstones

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            Investing in gemstones requires a certain level of expertise, but it can be an enjoyable and worthwhile investment opportunity. Over the years, gems like rubies, blue sapphires, emeralds, spinel and topaz have increased in value and in turn rewarded savvy investors.

            While you don’t want to solely focus on gemstones, it can be a nice way to differentiate your portfolio when used in conjunction with some of these other investment options.

            What do you think? Do any of these five investment opportunities sound like they could fit in your portfolio? While it’s impossible to predict exact returns, history shows us that these are some of the safest and most secure investments you can make. Happy investing!

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            Larry Alton

            Business Consultant

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            Published on November 8, 2018

            How to Answer the Tough Question: What are Your Salary Requirements?

            How to Answer the Tough Question: What are Your Salary Requirements?

            After a few months of hard work and dozens of phone calls later, you finally land a job opportunity.

            But then, you’re asked about your salary requirements and your mind goes blank. So, you offer a lower salary believing this will increase your odds at getting hired.

            Unfortunately, this is the wrong approach.

            Your salary requirements can make or break your odds at getting hired. But only if you’re not prepared.

            Ask for a salary too high with no room for negotiation and your potential employer will not be able to afford you. Aim too low and employers will perceive as you offering low value. The trick is to aim as high as possible while keeping both parties feel happy.

            Of course, you can’t command a high price without bringing value.

            The good news is that learning how to be a high-value employee is possible. You have to work on the right tasks to grow in the right areas. Here are a few tactics to negotiate your salary requirements with confidence.

            1. Hack time to accomplish more than most

            Do you want to get paid well for your hard work? Of course you do. I hate to break it to you, but so do most people.

            With so much competition, this won’t be an easy task to achieve. That’s why you need to become a pro at time management.

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            Do you know how much free time you have? Not the free time during your lunch break or after you’ve finished working at your day job. Rather, the free time when you’re looking at your phone or watching your favorite TV show.

            Data from 2017 shows that Americans spend roughly 3 hours watching TV. This is time poorly spent if you’re not happy with your current lifestyle. Instead, focus on working on your goals whenever you have free time.

            For example, if your commute to/from work is 1 hour, listen to an educational Podcast. If your lunch break is 30 minutes, read for 10 to 15 minutes. And if you have a busy life with only 30–60 minutes to spare after work, use this time to work on your personal goals.

            Create a morning routine that will set you up for success every day. Start waking up 1 to 2 hours earlier to have more time to work on your most important tasks. Use tools like ATracker to break down which activities you’re spending the most time in.

            It won’t be easy to analyze your entire day, so set boundaries. For example, if you have 4 hours of free time each day, spend at least 2 of these hours working on important tasks.

            2. Set your own boundaries

            Having a successful career isn’t always about the money. According to Gallup, about 70% of employees aren’t satisfied with their current jobs.[1]

            Earning more money isn’t a bad thing, but choosing a higher salary over the traits that are the most important to you is. For example, if you enjoy spending time with your family, reject job offers requiring a lot of travel.

            Here are some important traits to consider:

            • Work and life balance – The last thing you’d want is a job that forces you to work 60+ hours each week. Unless this is the type of environment you’d want. Understand how your potential employer emphasizes work/life balance.
            • Self-development opportunities – Having the option to grow within your company is important. Once you learn how to do your tasks well, you’ll start becoming less engaged. Choose a company that encourages employee growth.
            • Company culture – The stereotypical cubicle job where one feels miserable doesn’t have to be your fate. Not all companies are equal in culture. Take, for example, Google, who invests heavily in keeping their employees happy.[2]

            These are some of the most important traits to look for in a company, but there are others. Make it your mission to rank which traits are important to you. This way you’ll stop applying to the wrong companies and stay focused on what matters to you more.

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            3. Continuously invest in yourself

            Investing in yourself is the best investment you can make. Cliche I know, but true nonetheless.

            You’ll grow as a person and gain confidence with the value you’ll be able to bring to others. Investing in yourself doesn’t have to be expensive. For example, you can read books to expand your knowledge in different fields.

            Don’t get stuck into the habit of reading without a purpose. Instead, choose books that will help you expand in a field you’re looking to grow. At the same time, don’t limit yourself to reading books in one subject–create a healthy balance.

            Podcasts are also a great medium to learn new subjects from experts in different fields. The best part is they’re free and you can consume them on your commute to/from work.

            Paid education makes sense if you have little to no debt. If you decide to go back to school, be sure to apply for scholarships and grants to have the least amount of debt. Regardless of which route you take to make it a habit to grow every day.

            It won’t be easy, but this will work to your advantage. Most people won’t spend most of their free time investing in themselves. This will allow you to grow faster than most, and stand out from your competition.

            4. Document the value you bring

            Resumes are a common way companies filter employees through the hiring process. Here’s the big secret: It’s not the only way you can showcase your skills.

            To request for a higher salary than most, you have to do what most are unwilling to do. Since you’re already investing in yourself, make it a habit to showcase your skills online.

            A great way to do this is to create your own website. Pick your first and last name as your domain name. If this domain is already taken, get creative and choose one that makes sense.

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            Here are some ideas:

            • joesmith.com
            • joeasmith.com
            • joesmithprojects.com

            Nowadays, building a website is easy. Once you have your website setup, begin producing content. For example, if you a developer you can post the applications you’re building.

            During your interviews, you’ll have an online reference to showcase your accomplishments. You can use your accomplishments to justify your salary requirements. Since most people don’t do this, you’ll have a higher chance of employers accepting your offer

            5. Hide your salary requirements

            Avoid giving you salary requirements early in the interview process.

            But if you get asked early, deflect this question in a non-defensive manner. Explain to the employer that you’d like to understand your role better first. They’ll most likely agree with you; but if they don’t, give them a range.

            The truth is great employers are more concerned about your skills and the value you bring to the company. They understand that a great employee is an investment, able to earn them more than their salary.

            Remember that a job interview isn’t only for the employer, it’s also for you. If the employer is more interested in your salary requirements, this may not be a good sign. Use this question to gauge if the company you’re interviewing is worth working for.

            6. Do just enough research

            Research average salary compensation in your industry, then wing it.

            Use tools like Glassdoor to research the average salary compensation for your industry. Then leverage LinkedIn’s company data that’s provided with its Pro membership. You can view a company’s employee growth and the total number of job openings.

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            Use this information to make informed decisions when deciding on your salary requirements. But don’t limit yourself to the average salary range. Companies will usually pay you more for the value you have.

            Big companies will often pay more than smaller ones.[3] Whatever your desired salary amount is, always ask for a higher amount. Employers will often reject your initial offer. In fact, offer a salary range that’ll give you and your employer enough room to negotiate.

            7. Get compensated by your value

            Asking for the salary you deserve is an art. On one end, you have to constantly invest in yourself to offer massive value. But this isn’t enough. You also have to become a great negotiator.

            Imagine requesting a high salary and because you bring a lot of value, employers are willing to pay you this. Wouldn’t this be amazing?

            Most settle for average because they’re not confident with what they have to offer. Most don’t invest in themselves because they’re not dedicated enough. But not you.

            You know you deserve to get paid well, and you’re willing to put in the work. Yet, you won’t sacrifice your most important values over a higher salary.

            The bottom line

            You’ve got what it takes to succeed in your career. Invest in yourself, learn how to negotiate, and do research. The next time you’re asked about your salary requirements, you won’t fumble.

            You’ll showcase your skills with confidence and get the salary you deserve. What’s holding you back now?

            Featured photo credit: LinkedIn Sales Navigator via unsplash.com

            Reference

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