Is collecting an idea that has crossed your mind or something you're already into?
We're not talking back issues of GQ or seashells from your last few trips to the beach, but highly valuable items that one day, even tomorrow, could be worth an impressive amount. You may already have a collection growing, or today is day one. No matter where you're at on the collecting curve, if you are into any of these five items, you're on to something. Your hobby could become your retirement fund… and then some!
Comic books can be a gold mineunsplash.com
Turn funny into money by rummaging through your collection of old comic books. The action may be over, but the pages are precious. Rare and vintage comic books can be worth a pretty penny as per Go Banking Rates. "A 1938 copy of Action Comics #1 sold last year for nearly $1 million at a public auction, according to Heritage Auctions." Naturally, not every comic book will yield such a high payout, but it's worth weeding through your childhood favorites to see if any have significant value. Go Banking Rates adds, "Comics with classic covers or first appearances are typically more marketable." If you want to get an estimate of what one of your books may be going for, visit Comics Price Guide for more information.
Your family's heirlooms could be surprisingly valuable unsplash.com
Before you donate Granny's creaky old rocking chair to Goodwill, consider keeping it, and any other chairs, tables, cabinets, and chests she may want to pass down, for that matter. According to Huffington Post, antique furniture could be worth a fortune, and you could literally be sitting on a pile of dough. "Furniture that was once considered classic such as china hutches and roll top desks have fallen out of favor. For collectors and wealth investors, however, there are still major pieces of antique furniture in the market." Need proof? "The Badminton Cabinet built in England in the 18th century fetched $36 million at a Christie's auction in 2004, making it the most expensive piece of antique furniture ever sold." Sadly, your future great-grandkids are not going to appreciate your IKEA bookshelves.
Watches have long been considered a valuable investment unsplash.com
Nowadays, watches are worn more for fashion than function being that we all carry around a smartphone 24/7. But for those who enjoy a fine watch or timepiece, collecting them could mean watching your savings account numbers soar. According to Huffington Post, "Christie's and Sotheby's reported selling half a dozen watches for more than $2 million apiece between June 2012 and June 2013. The most expensive watch ever sold at auction was the Henry Graves "supercomplication" watch by Patek Philippe, which sold for $11 million at a Sotheby's auction." Swiss watches are in the highest demand, so hone in on those if you're serious about scoring big one day. Only time will tell…
Have a stamp collection? Consider keeping it! pixabay.com
These days, stamps could be more relevant than ever. With "snail mail" edging closer and closer to becoming obsolete, stamps will likely one day be a collector's item only. But we're talking about older, rarer stamps that are worth keeping stored safely to prevent deterioration. According to Go Banking Rates, "Stamps are among collectibles that are gaining value. Take, for example, the 'Inverted Jenny' stamp. Only 100 of them exist, according to CNN Money, and one that was valued at $1.6 million was auctioned off last May." A collection could be more valuable than a single stamp, though. "If your collection is organized, it will likely sell for more money," advises Go Banking Rates. Will your collection get the stamp of approval?
Many different vintages hold their value well over time unsplash.com
You may be tempted to drink your cab or pinot with dinner tonight but save those rarer bottles in your cellar and pop open a can of beer instead. Vino can be valuable, and your bottles may bring in big bucks. According to Huffington Post, "While the wine sub-index increased only by 3% last year, it increased by 182% over the decade ending in mid-2013." But which wines are the best to collect? Huffington Post claims, "By far, most investment-grade wine comes from the Bordeaux region of France. However, it was a wine from Burgundy that set a new record. Twelve bottles of 1978 Domaine de la Romanee-Conti were sold for $476,280 at a Christie's auction." For tips on collecting investment-grade wine, read Money Crashers' guide to buying bottles with promise for a payout. Cheers to a wine windfall!
Do you have a collection? Are you in it for fun or fortune?
Airbnb offers an affordable option for people looking to be more comfortable as they travel.
However, there are downsides to staying in a host's home rather than a hotel. Whereas hotels are designed for constant streams of visitors and often have furniture built to last, at an Airbnb, you may be staying on old or cheap furniture that a host is using in order to maximize their profits.
And while most reputable hotels will have regular room inspections from staff to check for any wear and tear, Airbnb damage disputes are oftentimes he said, she said situations. If you are in an Airbnb and something breaks, there are a few steps you should take in order to ensure that you are not on the hook for damages out of your control.
If you're keeping tabs on the art and tech worlds, you've probably been hearing whispers about "NFTs" for the past month. Just over the past week they've entered the mainstream lexicon.
Twitter founder Jack Dorsey made the news for selling his first ever tweet. The app has been teasing paid subscription models and newsletter-like features, but tweets for sale is "the next frontier."
just setting up my twttr— jack (@jack)1142974214.0
The 2006 tweet went up for auction as an NFT, and the current bid is $2.5 Million. But what does it mean to own that? Why would anyone want to? And what even is an NFT?
Long gone are the days when the majority of Americans dreamed about owning a home with a white picket fence.
The traditional American Dream may be on its deathbed, but that doesn't mean a core component of the vision can't survive. It simply takes a diverse perspective. People can still believe they can attain their own vision of success in society with hard work, knowledge, and risk-taking. Investing in today's American Dream may literally mean investing money in our modern economy, starting with our infrastructure.
Real estate investing in particular is a lucrative method that can boost income and secure a better financial future for many. There's always risk involved, but the payoffs can far outweigh the uncertainty. Selecting solid financial investments is about confidence and competence. If you're looking for some advice on this kind of investment, here are a few savvy tips for new real estate investors.
Stick To a Specific Strategy or Niche
Real estate is a challenging sphere of the business world, one that requires several key skills: groundwork knowledge, networking, perseverance, and organization. True knowledge of the real estate market will come with time and experience, but it's a smart idea to select one area of the market and stick to it. This is the best way to attain in-depth familiarity with your specific niche.
First, choose a geographical area close by and then a niche strategy within it, such as house flips, rental rehabs, or residential or commercial properties. By doing so, you can become aware of current inner working conditions in the market and you'll have a better idea of how these trends may change in the future.
Be Vigilant About Viable Financing Options
While it takes money to make money, you don't have to use all your own money. A common misconception about real estate investing is that you must be wealthy to start off. This isn't straight fact, however. A majority of people can test the waters of real estate investing without a lot of initial cash in their pocket.
Aside from traditional financing options from banks and institutions, private lending options can be worthy solutions. Hard money lenders are popular, reasonable choices, and they tend to have fewer qualification requirements upfront. However, be sure to strategically choose a hard money lender to find the best possible fit.
Master the Art of Finding Good Deals
There may be hundreds of thousands of available properties for sale on the current market, but the bulk of them will never amount to the final money-making result you desire. Another great tip for new real estate investors is to use good math to estimate profit. Taking risks is part of the process, but you have the ability to analyze properties and use networking sources to find the greatest deal. You can't win every deal, but you can steadily work towards a thriving financial future.