Not everyone has the time to pay attention to their investments while also keeping a full-time job. More investors are adopting a “hands-off” investment strategy so that they can concentrate on other parts of their lives. These are five things that you can consider investing in if you want to have a hands-off policy with your investments:
1. Buy land in Victoria
Vacant land is perfect for people who do not have the patience and time to deal with the other things that come with most investments. You can leave your vacant land as it is now. You merely have to wait for a possible buyer or investor if you do not have an idea about what to do with your property. The value of the land can also rise over time. Look for a master-planned estate around Geelong, Victoria. Doing so will enable you to invest your money without much involvement.
2. Build your business and then have someone manage it
Do you know someone who can manage a business? This can be someone in your immediate family or a close friend. Why not build an establishment and have them help oversee it? You might have to be involved in the business for the first few months of its operations, but you can leave it to your manager after that. If not, you can also invest in a franchise since it already has a proven business model.
3. Invest your money in a healthcare plan
Your health is one of your best assets. If you want to make the most of your money, you need to have a healthcare plan. A lot of healthcare providers right now can give you the appropriate treatment when you get into an accident or contract an illness. When you have a healthcare plan, you will no longer have to worry about the money that you will spend on medical bills.
4. Put your money in a bank account
If you do not want to engage in businesses, it might be better for you to deposit your money in a bank account. By putting your cash in a savings account, you can rest assured that it will grow. Most banks have savings accounts with decent interest rates. In a few years, you will be able to see much money in your account. With that in mind, go for the bank with the highest rates.
5. Invest in bonds
If you have prior experience in investing, you should know that bonds are among the safest investment vehicles. For most hands-off investors, this is something that is appealing. Sure, it can have lower returns compared to most investments. What makes it great is that your earnings are guaranteed since they are not significantly affected by various economic factors.
In the end, passive investing is a good option for those who do not want to be involved in the investing process. However, before you invest your money, you should think twice and assess your desired level of engagement.