If you are stuck at home because you have been furloughed, you might be wondering how best to utilise your time. While you could look for alternative work, spend some time in the garden, or do a spot of DIY, you might be eager to top up your savings and have your money work more aggressively for you. Think about broadening your investments to create a more varied portfolio. You might want to adapt your portfolio so that it is more Covid-secure. Many businesses are at risk from a coronavirus-induced era of economic uncertainty as are all currency markets, stocks and shares. By having a varied portfolio, you are able to spread your risk and mitigate it to help keep your investments safe.
Rather than spending your money drinking a few bottles of the finest Beaujolais, you should consider investing in a few crates of good vintage years. Think of wine in the same way as art or antiques. As the wine becomes scarcer, it becomes more desirable and more valuable. Do your research and work out the vintages and grape varieties that are holding their prices most consistently. The early nineties was a great set of years for rioja so opt for a crate of this if you want a safe and reliable investment. Hold onto your wine for a decade or more as this is a long term investment. Sell once you have accrued the profits you require and then sell up.
Bricks and mortar has always been seen as safe as houses. However, with the recent coronavirus outbreak, the property market has begun to stagnate. If you are looking to flip quickly, you might be better holding off for a year or two. However, if you’re keen to rent out a pad for a few years and create a rental portfolio of dwellings, property could still be a viable investment for you. As a property developer, you will need to consider what your workplace should put in place during COVID 19 for your tradespeople to feel safe. Social distancing should be adhered to at all times, and you must keep any property project that you take on a clean and hygienic working environment.
Always opt for the worst house on the best street and carry out a scheme of works to try and secure the ceiling price to maximise your rental yield. Anything above six per cent is seen as a great return on your investment. With any luck, you will be able to top up your savings and pay the mortgage every month.
Speculating in currency markets has become more accessible in recent years with novice investors flocking online for vlog tutorials. Many Forex platforms now allow people to create dummy accounts to practise their trading techniques. Here, you can pretend to sell yen against sterling and buy krona against the dollar. This can help you build your skillset before taking the plunge for real.
Investments have not ground to a halt. However, to mitigate your risk, you should follow this guide and broaden your portfolio.