Have you ever heard the stories about those people who were afraid of banks and so they kept all their savings under a mattress or neatly tucked away in the loft or the basement? Odd as that may sound, many people of today are wary of any kind of traditional savings account or investment product because, as we have seen, banks do fail all the time. Do you remember all those banks that went under just 10 years ago when the market crashed largely due to the unethical practices of the sub-prime lending industry?
Now you are looking at safe investments for your child’s future and no matter where you turn, it doesn’t seem as though there really are any safe investments. That’s not exactly true! The following are some innovative ways to invest in your child’s future which you may not have considered because they are not mainstream investments when looking at such things as college funds. Whilst these are investment vehicles that many adults add to their retirement portfolio, few people realise they are long-term investments suitable for children as well.
1. Invest in Fine Wines
With so many fine wines emanating from France, it’s a shame that more Britons don’t take a wine tasting trip each and every year. What you should know about fine wines is that they get better with age if you understand wine storage. This year’s wine may one day be worth a small fortune and at that point, fine wine storage becomes vintage wine storage based on the worth of each and every bottle.
However, there are a few things you should understand. First, not all wines will rise in value but a good year will produce award-winning wines that can be expected to grow to phenomenal prices in a decade or two. Second, you wouldn’t want to store that vintage wine at home because you can’t control how it’s stored as a wine storage company can. You would want a professional service like the wine storage with Octavian who ensures everything from temperature to the way in which the wine lays is correct to ensure proper ageing that increases its value.
2. Precious Metals and Gems
Although there will be years where such things as gold or platinum will lose a bit in value, the one constant is that they both rise in value over time. Time is something you’ve got when you are working towards securing your children’s financial future and this is why long-term investments like gems and precious metals are ideal for this purpose.
However, what you will need to do is take the time to study historical values of any gem or metal you are considering investing in. Some rise faster than others while some have almost outlived their purpose/usefulness. With all that being said, gold and diamonds will always rise in value over time, so those are probably safe investments for long-term investment strategies.
3. Give Your Child a Quality Education
While investments are typically thought of as ways to grow your financial resources, one thing which many parents aren’t aware of is the importance of investing in a quality education. They are so busy thinking in terms of leaving them that golden nest egg that they fail to recognise that giving them a better-than-average education gives them the competitive edge in a highly competitive job market.
If you want your child to have a better life, give them the tools they need to succeed and that all begins with education. Start putting money away early on for that day when they need to apply to top-rated universities. There is no better way to invest in your child’s future than to give them a superior education.
Do Your Part Now So They Can Do Their Part Later!
Whether you are afraid of investing in stocks or other more traditional products such as funds or are simply looking at the best and surest long-term investments you can rely on, the thing to remember is that eventually, your children will need to make their own way in the world.
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