Investing is incredibly important for anyone who is self-employed. This is especially true for freelance writers, as the money can be here one day and gone the next. By putting a little money to one side you can prepare for a rainy day and if you do your research and invest well then that money could grow into a fortune that covers you when you need it the most.
You probably know about stocks and shares already and it’s worth looking into precious metals, cryptocurrencies and bonds as well. But there are a few other investment opportunities that can help to secure your money and may even grow it quicker than an investment in the stock market.
Believe it or not, certain LEGO sets can retain their value better than precious metals. This is a trend that has been around for a long time and one that seems to be going from strength to strength. It’s a hobby that is popular with kids and adults alike, one that follows fashions and trends and one that is the focus of countless competitions and tournaments around the world.
All of this is why LEGO sets can grow exponentially in value. Not convinced? If you have the Ultimate Collector’s Edition of the Millennium Falcon LEGO set then you could be sitting on a goldmine worth in excess of $4,000. The Taj Mahal set is similarly priced, while sets for famous landmarks are also worth thousands of dollars today.
If the sets are produced in small numbers and the topic is something of great importance now and in the future, then the price will likely continue climbing in years to come. Just make sure you keep it in mint condition and that it never leaves its box. You can check sites like LegoWays to learn about the latest sets and to discover which ones will be worth the big money in years to come.
Comic Books and Action Figures
We’ve all heard the stories of comic books that have sold for tens of thousands, and sometimes even more than that. The days of those prices being paid for single comic books are long gone and because comics are now being bought with investing in mind, they’ll probably never happen again.
The reason those 1920s and 1930s comics sold for so much money is because no one had any idea how much they would be worth so very few people kept them in good condition. These days, avid collectors use laminated sleeves and protective slip cases to keep their comics in tip-top shape. It’s a similar story with action figures. The early Star Wars figures sold for so much because they were rare and many of them had been played with and destroyed. These days, there have been many more potential collectible figures, but everyone is keeping them in their boxes and there are many investors.
That doesn’t mean that comics and figures are no longer good as an investment, because they definitely are. It just means that your $10 purchase today will never be worth $10,000 in your lifetime. If you put the time in, you source rare figures and comics and you understand what is likely to be a hit, then you make money investing in these things, but don’t get carried away with yourself because those big bucks are out of reach.
First Edition Books
If you know how to spot a first edition then you’re already halfway there to profiting from these valuable collectibles. Not all first editions will be collectible and just because something is a first edition doesn’t mean it’s rare. New books from established, best-selling authors have print runs in the millions and these will likely never be worth more than their sticker price. But if you can get first editions from up and coming authors and you can get these signed, then you are onto a winner.
In fact, in many cases you can make an instant profit by getting these books signed. A first edition bought for $20 at the time of release could be worth $50 if you get it signed and upwards of $100 if you get it signed and then wait a few years. If it is a slipcase edition or some other rare edition then it could be worth even more.
Slipcase editions are usually snapped up as soon as they are released and tend to be sold in batches of just a few hundred. In most cases, they are on eBay within days and are selling for twice the price that was paid for them. If you subscribe to the social media accounts of authors and publishers you can learn about these before anyone else and make sure you get your name on the list.
This is a tough one. Most signatures are collectible, but they become less collectible if the person doing the signing has signed their name million of times and has endorsed everything from underwear to whiskey. Such is the case with many sports stars and its why their signatures have so little value when compared to actors and musicians.
Still, if you can get a piece of clothing or apparatus that was worn on the field of play and then get this signed, then it will only increase in value. And the more important the game, the team and the player, the more it will be worth.
I actually invest in most of the things on this list and this is something I’ve profited from the most. I watch a lot of boxing and am always on the lookout for new fighters. A few years ago I bought a pair of signed boxing gloves from a boxer that I was a big fan of and had high hopes for, but that no one else had heard of. They cost me very little. In fact, I was basically paying for the price of the gloves with the signatures thrown in for free.
A few years later that boxer became the heavyweight champion of the world and the value of those gloves went through the roof. If you follow a particular sport and have a good feeling about a certain player, then this is a great way to put your money where your mouth is and to be rewarded when they eventually reach the top, just like my man Anthony Joshua did.