If the COVID-19 pandemic has caused your personal finances to take a big hit, then you might be looking to recover financially in 2021 and earn more money by investing the spare cash you do have to support you and your family. Fortunately, there is plenty you can do in order to remain afloat and in healthy finances. Here are three ways to invest your extra cash in 2021.
1. Trade Stocks, Shares & Gold
Trading has risen to popularity in recent years, largely due to the massive growth in cryptocurrencies like Bitcoin. It’s definitely worth getting into trading if you plan to grow your own income in 2021. It’s important to do your research though as there is a fair amount of risk involved in trading stocks, share and gold. For gold, be sure to trade with a certified gold exchange so that you will be covered fully. Make sure you remain tuned in financially too as this will help you to keep up with all the latest investment news so that you don’t miss the latest hot investment tip, ISO, or booming stock. Trading is by no means easybut it can be very lucrative.
2. Invest in Classic Jerseys
This is something that is a far cry from trading stocks and shares but an investment activity that can net you a surprisingly good profit – and one that doesn’t require a lot of capital upfront. Buying classic football shirts and adding value to them is a surefire way to make additional cash. Sports fans across the globe idolise legends of the game for good reason, for many they were their heroes growing up. Therefore a blank classic shirt can instantly increase in value by adding a hero or fan’s favourite’s name to the reverse of it. Get yourself a printing iron and turn your $30 jersey into a $130 jersey today. If it’s soccer you’re going for then an LA Galaxy top can be transformed in value with the like of ‘Beckham #23’ on the back. Even if you don’t know much about sports, it can be easy to turn this into a real money-spinner with a bit of research!
3. Invest in Your Future
While this won’t net you any returns in the near future, if you are approaching retirement age, then it might be worth sending all of your extra funds to your pension pot as this can be the most tax-efficient way to grow your money. Investing in long-term goals is far more important than getting instant gratification here and now and doing so is a trait of many good investors up and down the country. Planning for your retirement might not seem the most interesting or exciting idea, however, it really could pay off – particularly if you plan to give up work earlier than most. If you can find an attractive return rate with your pension provider, then this is most definitely worthwhile. Remember, while you won’t see the results today, there aren’t that far off.