Making good choices on your investments can seem daunting. But with the right focus in mind, you can quickly find the best options for your portfolio.
Consider alternative investments such as precious metals or real estate. Both provide assets that appreciate over time. While physical gold and silver don’t provide an income source, you have the option to use your gold as collateral and lend against your portfolio.
To diversify investment in real estate there are several options. Look at buying a home and remodeling it. Selling it after 12-24 months will keep your taxes lower. A good option for young adults is to house hack. Buy a property and rent the rooms. Have your roommates pay your mortgage and you can live for minimal or no costs. This option gets them to pay your mortgage while you get the appreciation. And in some situations, you could rent for more than your mortgage and have a side income.
The best way to diversify your portfolio is by using a self-directed IRA.
You might consider a self-directed IRA if you want to keep your money for retirement and not pay any taxes until you start taking distributions.
In a self-directed IRA you can buy gold and silver, lend debt to others, or even buy your next investment property. The opportunities are endless.