Classic Cars and Other Fun Investments to Pursue
Investing can offer regular savers the opportunity to get into new hobbies and collections with ease. The ability to invest in whatever you want is a great feature of a versatile and wealth-generating marketplace with limitless potential. Investments can truly be made in whatever type of commodity or asset class suits your particular blend of needs and interests. The key is to always maintain a high-quality research strategy in order to pick out the best commodities for your portfolio. But picking stocks, classic cars, or real estate properties doesn’t always have to be all work. In fact, investing in things you enjoy can be a lot of fun, too.
Start with your research regimen.
No investment strategy is complete without a significant commitment to research and market fundamentals. In order to succeed in any marketplace, it’s critical to understand the facets of the particular asset that moves price. At a basic level, virtually everything is interconnected, and the relationship between commodities, politics, and even public health—a segment that is seeing new and intense interest amid the coronavirus pandemic—act collectively as the hidden hand that drives price movement across all market sectors. Engaging in quality research is something that all investors will point to as their magic bullet and yet many of those new to the world of investing fail to heed this advice. Put simply, there is a reason why Warren Buffett and so many other massively successful investors famously spend so much time reading and learning. This commitment to knowledge gives them an edge when it comes to buying into new commodities or markets, and helps them hone in on the best available assets that will drive continued growth.
Finding a source of information that you trust, like WealthRocket (see wealthrocket.com), is the best way to begin creating this advantage for yourself as well. While a retail investor certainly won’t have the same amount of time to commit to reading as a professional stock picker (Buffett spends as much as 80% of his day engrossed in books or newspapers) any time spent learning will broaden your horizons and give you a better sense of the interconnectivity of the market’s hidden pathways. Sources of good investment information can be hard to find, there is just so much out there to sift through in order to build great fundamentals. Finding a source that you trust and returning often to continue building your good habits for the marketplace is an essential component of the journey that all traders must go on in order to find success at building long term wealth.
Take your baby steps in the stock market.
Many investors get their start in the stock market. Stocks are relatively well protected from shocks, and the variance of assets and company profiles that are traded on the NYSE or any other global index ensures a trader with ample access to a variety of different companies that will perform admirably no matter the prevailing market conditions. Because of this blend of industries and asset classes, index funds that track the overall wobble of the market itself are a beginner’s best friend. The stability that an index or mutual fund can deliver will make for a far more mobile portfolio in the months and years to come as you learn the ropes of stock trading, and this will transfer out into other asset markets. Indeed, even the most experienced investors love the growth rate and strength of a run of the mill index fund.
Just like company stocks themselves, index funds are offered by a huge cross-section of investment banking firms, so choosing the right blend of commodities within the fund and the source of research and algorithmic programming is an important part of the buying process. Stalwarts like Blackrock and Vanguard are popular choices, but there are other funds out there that perform competitively as well. Many newer investors ask ‘what is Yieldstreet?’ as they branch out into other fund offerings. They quickly learn that the Prism Fund, a real estate and alternative investment portfolio offered by Yieldstreet, offers a competitive blend of stability and increased yield potential, and is a favorite among investors looking to add new growth into their portfolio.
Once you’ve learned the ropes, shifting out of the stock market is a natural step for many investors. This is where the fun truly begins. Buying classic cars at a car auction is a great way to complete this transformation from an average stock investor to the big leagues. Classic cars offer a unique reversal to the standard pricing model of automotive investments. Most cars exist within a pool of hundreds of thousands or even millions. All around the world, people are driving Hyundai, Mazda, Toyota, and Ford models that were produced within the last ten or twenty years. These cars possess little to no rarity because of the sheer volume of production that persists across the market. However, as a vehicle passes from old and into antique, its rarity becomes its primary selling point.
Most cars on the road today were bought for fuel efficiency and roadworthiness; these cars are commuter tools that help drivers get from A to B. Therefore, their value is pegged based on mileage and age. These indicate how much longer the car might be able to perform its function. An antique is priced on the rarity of its parts, especially for all original vehicles that retain their authenticity. Classic cars are a fantastic hobby for those who love the open road, and the purchase of a classic automobile will give you something far more fun than a digital portfolio to ogle at as you work to boost the value of your investment.
Gold and silver bullion is another fun commodity to trade-in. Buying into the precious metal market gives investors a taste of the good life while offering a timeless investment object that will continue to increase in value at a favorable rate. Gold and silver are also easily utilized as collateral for those looking to create double-threat investment opportunities. Just like real estate, precious metals are a great way to secure low-interest funding for other investment purchases. These are a great addition to any portfolio looking for a fun new addition as well as significant staying power over the long term.
Investing doesn’t have to be all boring. Find commodities that get you excited and start trading.