You may be retired, or thinking about it, but that doesn’t mean that you’ve missed your chance to invest some of your money for the future. Investment isn’t just a young person’s game; there are plenty of ways that you can invest in your 60’s that will help you and your family later on. Here are a few of the wise ways that you can invest your money.
Buying commodities like silver or gold
Precious metals like silver and gold will always be a wise investment. You can invest in gold by buying gold bullion or coins, stashing them away at home or in a bank and then simply selling them when the time is right. Generally, people who invest in gold can expect a return of between 3% to 10% depending on the market. When buying gold, it is essential that you avoid paying premium charges as anything over 10% above the market price will ruin your potential returns.
Investing in a growing business
Whether you’ve owned a business or not, investing in a start-up or growing business can be another effective way to diversify your portfolio. By providing the company with a sum of money, you will be entitled to a percentage of the business and its future profits. Generally, to invest in a business, you will need to hand over between £50,000 to £1 million, and you’ll need to wait between five to ten years to see your return. What you’ll have at the end can vary, and it’s essential to realise that as investments come, business investments can be quite high risk.
Investing in frontier markets
Frontier markets are growing economies that, although they may lack stability and structure, can offer a high return on investment as they develop into emerging markets. Because frontier markets tend not to have developed stock markets, investments tend to take the form of real estate or business investment. You can find out more about Uzbekistan investment opportunities here.
Peer-to-peer lending
Peer-to-peer lending is still in its infancy but is a growing investment opportunity. Put simply, peer-to-peer lending involves lending someone money with interest attached. Generally, interest rates vary between 5% and 10%, but some rates are higher depending on the amount loaned. Unlike business investments, peer-to-peer investments can start much lower, and there’s no upper limit either. By using a peer-to-peer lending platform, it is possible to increase the protection of your money, but of course, nothing is guaranteed, and your debtor may still fail to make their payments.
Real estate
And finally, there’s always the option to invest in real estate. Real estate is one of the simplest forms of investment but can provide significant returns if you buy in the right area and at the right time. If you are in no rush to sell the property, then you can benefit from rent instalments by letting it out in the meantime, or alternatively you could flip it by buying, doing it up and selling straight away.
So there you have it – five different ways to invest in your 60’s that will help you stay thrifty and profitable. Have you invested before? Let me know what you invested in in the comments.
