Once in a while, here at Oddballwealth.com we like to think outside the box. We have all heard of the common or conventional ways to invest your money whether it’s with mutual funds, ETFs (exchange-traded funds), 401k, IRAs, or individual stocks and equities. Although, it’s nice to sometimes think “outside the box”, when it comes to places or things to invest your money in.
What is an Investment?
An investment can be just about anything that you hold and expect to get a return on in the future.
Getting Creative with Your Investments
Thinking creatively when it comes to investing your money can help diversify your portfolio and separate you from other investors. In the rest of this article, I’ll go over a few “unconventional” investment ideas. These are just a few fun and hopefully interesting ideas to help you start thinking “outside the box” on places to invest.
1. Baseball Cards
When I was really young (like 8 or 9 years old) my uncle gave me a box of baseball cards that he had collected when he was a kid, most of the cards from the 50’s and 60’s. I have always held on to them, more so for sentimental value. I never actually thought about their monetary value until I was older and started looking up what a few of the cards were worth. I found out that a few of the cards were actually worth a bit of money.
To this day, I still have those cards and plan on keeping them to hand down to my kids one day. When making an investment in something like baseball cards it’s important to remember, like any other investment it’s only worth the amount that another person is willing to pay for it. In this case finding a person to pay you the amount of money you want in exchange for your baseball cards.
Nickels can also be a potential investment. Yes, the 5 cent coin that you probably have jingling around in your pocket right now could be considered an investment. When the government makes currency in the form of coins, it usually cost more to make the coin than what the coins face value is.
The nickel is made from metals consisting of copper and nickel making the coins meltdown valve (which currently is illegal) more than the face value.
If you’re into wine, you probably know that wine itself can be a good investment. I won’t get much further into investing in wine here because it’s a complex industry, and I’m by far no expert on the subject of wine, but it’s worth looking into.
4. Classic and Vintage Cars
If you’re a car enthusiast or into restoring old vintage cars this might interest you. Most modern vehicles these days lose a significant amount of their value as soon as you drive them off the dealership lot. Although, certain (and I do mean certain, you need to do your research) classic and vintage vehicles may have a collector’s value. To some people, vintage vehicles are a good investment.
You always hear of a painting somewhere being sold for an enormous amount of money. If Art is something that interest you, start researching new and inspiring artist. Then maybe invest in some of their pieces of work.
These are just a few ideas to help get you start thinking about other types of investments that are out there other than the usual investments that ordinary financial advisers or brokers will offer you. Thinking about unconventional or unusual investments and making investments in them are good ways to diversify or portfolio and potentially get big gains!
Author: Tyler DeBroux
Tyler started Oddball Wealth towards the end of 2014 after graduating college, as a way to stay relevant in his area of study, stimulate his mind, and to educate and help others.
Tyler has worked in the financial services industry, as a financial advisor, helping his clients make wise financial decisions and personalized long-term financial plans. Since graduating college in December of 2014, Tyler has paid off more than $15,000 in student loan debt and counting, his goal is to have all his student loans paid in full by the in of 2016.
Tyler is an entrepreneur and an expert in personal finance. Two of his many hobbies include investing and building online businesses. He is also a big advocate of early retirement and an aggressive saver, who utilizes any financial resources and tools available to him to help reach his goals for achieving financial independents.