In the right hands, watches, stamps, toys and comic books aren’t just clutter taking up space in your attic, they are valuable financial assets.
Like most parents, you probably want to know that your children will be taken care of when you’re gone. Although traditional routes of investment work for a lot of people, not all of us want to leave just cold, hard cash to our loved ones.
If you’re looking to leave a more personal legacy, alternative investment might be the solution. Although this should never be pursued instead of savings accounts or concrete bonds – which offer sound financial security – the great thing is that you may have already started. If you’ve ever put an old vinyl to the side or left a bottle of wine sealed, wondering if it would be worth something one day, you’re on the right track.
“Alternative assets” – be it watches, art or classic sports cars – are all around us and with a little expert guidance, we can find out which ones are worth our time. Sure, their lack of investment security can often divide financial advisors, but as the experts at Hargreaves and Lansdown put it, “in most cases, this is secondary to the emotional reasons for leaving a gift.”
Imagine leaving your kids a collection or item that you know has the potential to significantly appreciate in value down the line, and which also carries treasured personal memories for them. This is of course, easier said than done, and it’s best to treat this type of investment as more of a fun hobby (alongside saving), which could someday pay dividends.
So, where should curious investors begin their search?
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