Most of the time, you probably think about the good life you get to live as being a consequence of intelligent business decisions.
You make money at work and spend it to provide a great lifestyle for yourself and your family.
However, sometimes the money you invest into your lifestyle can also be an investment for personal wealth growth. Here are a few ways that you can turn elements of your lifestyle into a wise investment.
Restore a Classic Car
There’s just something about getting behind the wheel of a classic car. Whether it’s the history, the good looks, the solid construction, or just an indescribable sense of cool, classic cars have serious appeal. However, there’s another advantage to driving or collecting classic cars.
Unlike new cars which depreciate in value the second you drive them off the lot, classic cars are very likely to gain value when properly restored and cared for. You don’t have to do the restoration yourself either. Quality restoration from a respected restoration specialist like Precision Restorations can pay for itself in the long term.
Invest in Real Estate You’ll Enjoy
Real Estate is one of the safest investments that you can make. However, you don’t have to just buy bland, uninteresting investment properties to see a return on your money. Why not consider investing in real estate that you’ll get to enjoy while you own and which will give you a great return when you sell it? Consider purchasing a cabin in the mountains to enjoy when fall colors are changing or a lake house for the summer. You can even look overseas to invest in property in a destination vacation spot that you’ll enjoy during certain times of the year but that you can collect great revenue from while you’re away.
Put Money Into Small Businesses You Believe In
Angel investing can make you feel good, and while it is high-risk, it sometimes results in a very high return on your investment. If you’re going to take a risk, why not invest in the local businesses you already love? Investing in your favorite local businesses gives you a sense of community and you might even get to enjoy some added perks of being a known supporter, like becoming a celebrity at your favorite restaurant or receiving thoughtful gift baskets from your favorite florists. If the business succeeds, you can see a great return on your investment and you’ll also feel good knowing that you helped a business you really like do well.
Make Investments You Love
Investments don’t have to be boring. By putting your money into things you enjoy that can also pay off in quality returns down the road, you can live life to the fullest at the same time as you make intelligent investments and growth your wealth.