Last Updated on Dec 23, 2019 by James W
It’s no secret that investing is the key to building wealth. Even amateur investors know that inflation robs our money of its value over time, which means that we had better find ways to earn interest and offset that loss of value.
And investing is the most powerful tool that most of us have for earning that interest. Unless you’re a billionaire heir or a venture capitalist, then you’re probably starting off your investments with the familiar stocks and bonds that most brokerage accounts focus on.
But you don’t have to stick to familiar stocks and bonds if you don’t want to. If you’re more interested in finding opportunities for aggressive growth, unconventional investing, and a chance to be on the cutting edge of something really exciting, then you may start looking beyond the New York Stock Exchange and NASDAQ tickers. Below, we’ll introduce a few of the more unusual opportunities you’ll find beyond the usual CNBC ticker.
Cryptocurrencies
The future of your money may just be tied up in the future of all money. Cryptocurrency fans believe that their digital currencies will one day join the ranks of government-backed currencies — or even replace them entirely. Long a dream of the tech-savvy and the privacy-obsessed, digital currencies have finally begun to make sense thanks to the advent of blockchain technology, which allows such currencies to finally be truly secure.
But while cryptocurrencies are secure, they are certainly not reliable as currency, at least not yet. Cryptocurrency values are extremely volatile. And while that makes them lousy things to use as money, it makes them excellent opportunities for speculators.
With enough knowledge and a stomach for risk, you could find the best cryptocurrency to buy right now and make money quickly through this unconventional investment opportunity. To get started, you’ll need a cryptocurrency wallet, startup capital, a reliable news source for cryptocurrency developments, a smart strategy, and plenty of guts.
The marijuana industry
Not so long ago, marijuana was illegal virtually everywhere in the United States. The demand was there, of course, but no (legal) businesses could take advantage. Today, ten states and the District of Columbia have legalized marijuana for recreational use. Even more states have legalized the drug for medicinal purposes.
This has caused a thriving industry to emerge in an incredibly short time. The marijuana business is booming, and it’s showing no signs of slowing down. In fact, with more states poised to legalize the drug, some observers consider the outlook to be rosier than ever for the marijuana industry.
But marijuana’s legal status remains complex in some ways, according to marijuana law experts at McAllister Garfield. Since the drug is still illegal at the federal level, many brokerage platforms don’t permit their users to invest in marijuana businesses. Those starting marijuana businesses will also find it tough to get business loans from banks that operate nationally.
As a result, fledgling marijuana businesses usually get their start with the help of private investors. If you can find a way to invest in the marijuana business, you could become one of the private backers poised to make a great deal on this fast-growing industry.
Gold and silver
Sometimes, the oldest investments can be the best. Precious metals like gold and silver were being used as currency long before we had US dollar bills, and they still have very real value.
Some investors consider gold and silver to be relatively “recession-proof,” because the value of precious metals tends to keep pace with inflation and see higher values during tough economic times. While this isn’t a universal truth, there’s some degree of fact behind the conventional wisdom, and those who hold gold and silver can gain a nice hedge against economic volatility.
