Have money but don’t know how to invest it? Well here are the tips for how to invest your money wisely and properly as given in this article.There is no doubt that sailors are always confused as how to invest their money. A decent salary comes with lot of expenses and other issues, and usually sailors find themselves in a fix as how to invest money properly. Keeping your money in bank won’t do a good work. And yes there are good agents and advisors for you, but then at the end of the day, it is you who has to think how you can invest properly. So here in this article, we have compiled information regarding the investment.
How To Invest Your money As A Sailor
Investing money is both time consuming and planned process. But once properly done, it will harness lot of money for you. You make money out of money.First you need to figure out how much money you have after salary, below picture tells you a good way to analyze it.
Fixed Deposits
They are long term investment process, but a good one. They are full proof methods that have been in the existence for ages. So, if you don’t have urgent need for money and want to go for long terms, then this is the best way. The trick is, higher the amount, better it is.
Retirement Pension Plans
It sounds weird but it’s true. People generally in their young ages don’t realize the need of money they will be having when they will get old. You can’t go on for sailing for your whole life. Many banks offer these retirement pension plans, in which you have to submit required amount of money everything. This is worth to go for. In then during your old days, you get money from bank as like a pension.
House Or Land: Which One?
So, if you don’t have a house, then this should be your first priority and a good investment option. The value of your house will always increase.
Note: If you are buying house, then it is better for you take some loan as well. Because, otherwise you will run out of the whole money in a short period of time. Take some part of your investment as loan too. May be for 5 years.If you already have a house, then try to go for that property which you think will give benefits in coming years. But don’t put all your money in buying that and then paying for loans. Buying a land is better option as you don’t have to put early big investments in it.
You can go for loans, but you need to calculate how much extra money you will get after selling that property. That extra money should be 10-20% more than of what you will return banks.For example you bought a land for 1000$. And took a loan of 1000$ from bank at an interest rate of 10%. Let’s say after 2-3 years the value of that property becomes 1300-1400$, then it is worth taking loan for it.
Lending Money/ Small Business
Lending money to trust-able people is a better idea. See you get two things out of it. First you get appreciation from people for helping them in tough times and also better interest rates. In every country there is this concept of small organization where group of people invest every month for a fixed amount. And then interest coming from that money is shared among all.
If you come across a good business idea and somebody wants you to invest money in that, then you should go for it. See, you never know when that idea can become big. Take the example of Facebook, early investors are reaping the profits of this company.
Stocks: The beauty or the Beast?
Stocks surely pulls lot of people towards themselves. There are people got millions by investing in it and some became beggars too. There is no trick here. Just a good knowledge and time is what needed. As sailors are away from land, it is little hard for them to keep an eye on the stock stuff. But if you have your spouse to take care of that, then it is a good way of investing money.
There are two types here. One is that, you invest money in short term and one is long term. The idea is you invest small amount first and get knowledge of how things work in it. And then go for big. You spouse can help you in this. Once you get used to it, then you can get better return out of it.
Invest In Your Child Education
Well this is kind of weird investment you would say, considering the fact that it is done every parent. But, if you do it in a better way than the results and benefits of it will be reaped by the coming generations as well. You pay for his or her better school and also invest in the overall development of them. And after 20 years what you gave in, will come out. This way you are building a good platform for the coming generations. It will be the best investment, if you do it in a better way.
Invest in Antiques
If you have interest in collecting antiques, then this is an also a good option for investing money. At least buy 2-3 Antiques and then you can sell them anytime you want.
Pls don’t do go rating course