Viable Ways of Making Money in 2017

Tue, Apr 11, 2017

Featured Post, Financial Advice

At present, the value of the global property market is estimated at $217 trillion. Despite this, the ongoing volatility in the sector (combined with historically low interest rates in the UK and the U.S.) means that traditional real estate investment is no longer as appealing to investors as it once was.

This represents a common trend in the current economy, as investors are increasingly determined to seek out new and creative ways of making money against the backdrop of a changeable and unpredictable climate.

With this in mind, let’s take a look at three of the most viable ways of making money and generating financial returns in 2017.

 

  • Invest in Tax Liens

The variable nature of real estate means that investing in tax liens can still provide a viable return in the current climate.

A lien is a legal claim that has been made against a property when a landlord fails to pay taxes on their asset, with its value determined by the total amount owed. As properties cannot be sold until this debt is resolved, liens have emerged as viable asset classes that can be purchased through auctions and to the highest bidding investors.

While this offers a unique opportunity that can deliver outstanding returns, the market is decidedly complex and can come with significant risks. To help you in your quest, it is sensible to seek out training and advice from Ted Thomas before attempting to purchase tax liens.

 

  • Market Yourself as a Part-time Freelancer

While technological advancement may have empowered the rise of the freelance economy, it was the great recession of 2008 that really encouraged people to consider working for themselves. This meeting of innovation and opportunity has created a workplace resolution, however, and one that will turn half the U.S. workforce into freelancers by 2030.

You can leverage this to optimise your earning potential in 2017, particularly if you have idle time that you are unsure how to spend.

You could market your core skills and experience as a part-time freelancer, for example, committing to a fixed amount of hours to suit your existing job and schedule. This creates an additional stream of income, which can be committed to savings and may eventually enable you to develop your career.

Just remember; any additional income will need to be declared to the relevant tax authority,as this may impact on the amount that you pay per annum.

 

  • Consider Trading the Financial Markets

While technology has, through application, achieved numerous things, one of its most notable accomplishments was breaking down the barriers to the financial market. There is now in excess of $5.1 trillion traded each day on the forex market, for example, which a rising percentage of this committed by part-time or day traders.

With this in mind, there has never been a better time to access the financial marketplace and invest your income. The key is to determine the markets that best suit your level of capital and risk profile, while also highlighting assets that tie into your knowledge base and experience.

There is certainly a wide range of asset classes to choose from, including dividend investments, precious metals and currency. By understand these options in deal and creating a diverse portfolio, you can optimise your chances of achieving consistent success and securing the largest possible return on your initial investment.

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