10 Unusual Ways to Invest in Your Family’s Future

As a parent, you pride yourself on your dedication to providing for your family. So how are you planning for the future – paying off debts, funding college, retiring comfortably, and leaving a good chunk of cash as a parting gift?

You may already have maxed out your Roth IRA and 401(k) contributions for this tax year, but there are plenty of other ways to grow your money – and they aren’t all traditional! Read on to discover ten of the most unusual ways to invest in your family’s future!

1. Buy wine. If you can find a particularly sought-after vintage for a decent price, grab it and watch the value go up over time. Just make sure you know the market: Vinfolio collects data on wine prices and is a good place to get familiar with the trade.

2. Invest in a self-storage facility. Think of it as running an apartment complex and collecting rent – but when a “tenant” moves out, you don’t have to change the carpet. Even Bloomberg, in 2012, called self-storage investments “riskless return” – but they also note that it may take years to see lucrative net results.

3. Buy jewelry. Not all jewelry will become more valuable with time, so do some research about what types and styles of jewelry tend to retain value. Compare prices between wholesale online dealers, online auctions, and even pawn shops. Unlike other investments, jewelry can be worn and admired – and even become a family heirloom.

4. Buy and sell domain names. You can rent a domain name from GoDaddy for $12/year. If you bought a domain that later became coveted by some big company, they would pay a lot to buy it from you. Do some research and see what domain name investment could look like for you.

5. Lend to others. Peer to peer lending is a way for folks who need money to borrow it from you and pay it back with interest. Each loan is funded by multiple investors. As the borrower pays back the loan, you receive back a portion of your money, plus interest. To reduce risk of non-payment, the borrowers are screened, and the investor is able to see their employment situation, their credit rating, and what they intend to use the loan for.

6. Flip a house. The concept is simple: Buy a house, then sell it later for a profit It might mean buying a cheap, derelict house, remodeling it, and selling it. If you go this route, you’ll want to calculate the cost of renovations and estimate how much it would sell for in the current market. If you can make a decent profit, go for it. You can also purchase a house when the market is low and hope the market rises. The risk is that you will pay more in property tax than you would make reselling, but you could also combine this strategy with renting while you wait for the market to improve.

7. Mine bitcoin. Bitcoin is a virtual currency, gained by allowing the use of your PC’s processing power to verify bitcoin transactions all over the internet. However, bitcoin is “found” by chance as your computer does the work, so it’s not a guarantee. Plus, there’s a

8. Buy music royalties. If a music band wants immediate cash, they can sell the rights to a song. This gives the buyer possession of any royalties that stream in. Investors can also buy rights to movies, TV shows, and even energy.

9. Leave your computer on. There are companies that will pay to use your computer’s processing power. It doesn’t pay much, but it’s reliable and consistent, and every dollar counts when you’re investing in your family’s future. Just remember that leaving your computer on uses energy, which isn’t free for you – so consider what your net gain might be when you sign up.

10. Invest in someone’s startup. People starting a new business need cash. You can become a partial owner in the business, and when it starts producing revenue, you will receive a share.

Remember that all investments contain an element of risk, and you don’t want to take big chances when it comes to your family’s future. Be sure to learn everything you can about an investment opportunity before jumping in, and diversify your investments. With research and some elbow grease, you can start setting aside cash to benefit your family for life!

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