Most of us instantly think of long-term gains and retirement plans when thinking about investments. A lot of portfolios are constructed to serve longer-term goals. We also instinctively look into the financial or stock market when thinking of investments.
While these conventional approaches are great, there are also investments that are geared more towards increasing your income, both in the short term and long term. If you want to increase your income or introduce new sources of revenue to your personal finances, here are some of the things to invest in.
Investing in buy-to-let properties is one of the safest and most rewarding ways to boost your income. The investment opportunities are made even more attractive thanks to the wealth of financing options designed specifically for investors.
Buy-to-let properties are properties you buy to rent out. You get direct income from monthly rent paid by tenants. You still have to repay the loan’s monthly installment, but it is possible, especially in today’s market, to invest in properties that earn you more in rent than what you have to pay in monthly installments.
The market is also fairly easy to navigate. There are plenty of online resources and websites to help you understand this type of investment and how to get started. Focus your energy on finding properties in good areas with a lot potential tenants and you’ll be earning a healthy return on your investments by the first month.
A lot of professionals don’t really consider a master’s degree as an investment; this is actually a mistake. With the market growing as rapidly as it is today, there are more jobs in middle and top management levels just waiting to be filled. The only way you can acquire those jobs – and increase your annual income in the process – is by having the right qualifications for the position.
There are online programs from top universities such as Washington State University, which are designed to allow you to pursue an online MBA and other master’s degrees while working a full-time job. Online courses are far more flexible than their offline counterparts, so you won’t have to worry about managing your time or not having the energy to attend classes.
The degrees are very valuable, too. An accredited MBA degree online is valued more by HR managers. You can even start enjoying the benefits of pursuing a master’s degree from the moment you enroll in the course just by updating your CV and LinkedIn profile.
Last, but not least, we have dividend-paying shares. Sure, you can trade shares for capital gains. You can also choose to hold on to the shares for long-term value gain. However, you should never forget about shares in companies that pay healthy dividends to their shareholders.
You can expect anywhere from 4% to 12% in dividends with the right shares in your portfolio. On top of that, you still get the same capital gain as the price of your shares (and the value of the company) climbs. It is a great investment opportunity to add to your already solid portfolio.
Which of these investments are you interested in the most? Have you invested in any of them already? Be sure to share your stories in the Comments section below. We’d love to hear your thoughts.