In order to grow your wealth, you can’t rely on putting your cash in the bank and hoping for the best. You need to take an active approach to your investments and create an investment portfolio that meets your future financial goals.

There are hundreds of investments you can make, but there are three that are worth your consideration.

Long-Term

If you have a lot of cash and can handle your own investments, then short-term investments can be a good idea. If you want to see a better return and keep an eye on your future, then long-term investments are it.

Long-term investments are better suited to people who are already making a steady income, and who will not miss the money that is tied up in the investments.

Look for investments that offer compound interest, or invest in a property like https://www.jenjewell.ca/ontario/caledon/mono-road/. You could also consider buying a home just for yourself as this is also a good investment. Renting essentially is dead money, and something you will never see a return on.

Education

Education can often be the difference between having a job with prospects and one without. There is a running joke that many people with degrees end up working in the same situations as those without. However, there has always been a preference for people who have higher education on their resumes regarding the job market.

If you don’t have access to the funds to study for a degree, there are many places you can learn for a reduced price online.

Investing in your education is bettering yourself and your job prospects in many ways and one that can’t be ignored when it comes to your future earnings.

Many big companies like Google, LinkedIn, HubSpot, and some of the best universities offer a range of courses for free. Those can be used as a stepping stone to access a starting position in similar companies.

Precious Metals

No matter where you look in history, those who were wealthy or gathered wealth would be investing in gems and precious metals. Metals like gold, silver, and other precious metals are among the best things you can invest in.

It offers exciting insurance against economic factors that might otherwise impact your other investments.

Precious metals can be stored in your home in a safe, or they can be worn. You don’t need to pay for upkeep, you don’t need to pay someone to handle it for you, and you can build it up slowly over time.

So long as you buy gold from a reputable seller, you don’t need to have any expertise in the precious metal you are buying. Unlike if you invest in stocks, shares, or even wine.

If you choose to invest in precious metals, you can also opt for certificate metals, with a daily storage fee. There are many ways to invest in precious metals to match your budget and your investment style.

If you are still not sold on investing, read this: 5 Reasons to Invest Your Money – The Summer Lad.