Investing in Your Lifestyle

You know the general perception is that long term finance is a safety net for retirement, or a saving for that dream vacation. You see long term finance literally means money borrowed which will be repaid in more than one year, at times stretching up to a period of 20 years! Mostly people after a certain age just start spending their life rather than living it. But it is never too late to make a new beginning, to follow your dreams. You know what they say, age is only a number, just because you are 60 doesn’t mean you are too old to live you dreams “the American dream.”

Same goes for youngsters, you don’t have to wait until you are employed to start saving up for your goals. Remember the 14-year old Wilow Tufano, who bought a repossessed house for $12,000 earlier this year? She had started collecting money since she was seven by finding free items and selling things that were considered “junk” by others. And now she has rented out her house and gets a residual income of $700 per month, presumably making her the youngest landlord in America. So no matter what your age, now is the best time to start working towards your goals.

A stable residual income can help you save up for all those items on your wish list or dog-eared magazine pages. Multi tasking is no longer an art; it is must to keep up with today’s fast paced life. Here are some ways to help you save up those extra bucks.

Property

You see investing in property carries the least amount of risk and generates a constant, stable income. You not only get monthly rental on the property, but your property value will also keep on increasing. If you do not have the money to buy property, you can always opt for getting a long-term loan, and repay it with the rental income.

Sleeping Partner

Invest your money in a potential business idea and become a sleeping partner. You will get a lower profit than the active partners, but considering you aren’t really moving a muscle, it isn’t a bad investment.

Franchise

A franchise follows a successful system, created by somebody else’s labor and time investment. So it doesn’t need to be looked after on a daily basis, but will earn you good money

Stock Market

According to Steven Roddy, a successful marketer, “The best advice that I ever heard concerning stocks and real estate is that when America is talking stocks, buy real estate. And when Americans are talking about real estate then buy stocks.” The market will be cheaper when people are selling, hence it is a good time to buy, and sell if the market prices go high.

Lending a Room

If you have an extra room or a guest bedroom, a good idea will be to rent it out to a paying guest. Provide a good breakfast and dinner deal and you’ll be making a reasonable amount of money without having to invest muchmoney.

The most important part however is to be consistent, markets may fall and damages may incur, but these are just small hiccups and will eventually sort out. However every business or investment no matter how small or secure, requires some time and looking after. So keep a constant check and a small chunk of the profits for maintenance.

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