In a year when the economy is putting on a less than stellar performance, and inflation seems like a permanent condition, there are still a few excellent investment and money-making ideas. For those who are willing to work hard, start slowly, and do plenty of research before choosing a strategy, opportunity awaits. Of course, there are no guarantees when it comes to succeeding in entrepreneurship or investing.
Even so, a combination of old and new ideas presents a chance for diligent investors to make a go of it in 2023. Whether your goal is to start a side business, invest, trade, or speculate, there are interesting and potentially profitable ways of doing so. Digital real estate is one of the hottest out of the dozens of choices people are making. Others include investment-grade wine and gold bullion. Consider the pertinent details.
Digital Real Estate
Most investors put real estate at or near the top of their list of favorite assets. In the 2020s, one variation on that theme, and an equally popular one, is digital real estate. The concept has been slowly but surely acquiring large numbers of followers during the past several years. Today, some of the top commercial real estate companies and nationally known brands have started to take notice of digital real estate as an investment vehicle.
How do they expect to profit from it and use it to their advantage? Some organizations view digital real estate as a long-term investment, while others plan to use the online space for remote workers who need private places to hold virtual meetings. Already, the four major metaverse sites are responsible for more than a half-billion dollars in DRE sales in 2021 alone. That has many individuals wondering whether the time is right to include in the portfolio alongside their current real estate holdings.
Wine
Investment-grade wine, as an investing niche, has built a huge following since the industry created standardized ratings about a decade ago. The top vintages are sold like rare coins, each with a specific year and other essential factors. Along with standardization, the low cost of entry has attracted millions of vino-lovers who aren’t reluctant to put $1,000 or more into their favorite liquid assets.
Several platforms now specialize in the segment, offering low-cost shipping or storage options for buyers, educational materials, and guaranteed buy-back prices in some cases. For those who enjoy alternative assets that are tangible and interesting, wine is a top choice among young professionals who want to find rare investment opportunities and those who appreciate the finer things in life.
Gold
Gold bullion has been a go-to alternative asset for hundreds of years. In the Middle Ages, European and Asian families kept their life savings in the yellow metal. Today, millions of people are buying gold online or in person in an effort to do the same thing, or at least they buy enough gold to balance out portfolios heavy in paper-backed assets like stocks. But the 2020s could prove to be a golden age for gold.Not only has worldwide inflation been running rampant, but equity markets are volatile and threaten to underperform in 2023. The most common way to buy gold is to purchase one-ounce ingots or rounds. Expect to pay about 5% per ounce over the metal’s spot price.
