Investments can help you achieve your financial goals and fulfill your dreams. When you put your money on a valuable project, it will pave the way for a worry-less future. If you have a decent amount of money in the bank at the moment, for instance, you can purchase a property or a retirement plan.
However, aside from these products, you can also invest in your passion or hobby. If you have a house full of action figures, comic books, vinyl records or vintage cars, you may not have to wait for a long time for the value of these items to exceed that of your entire property.
Investing in a hobby is worthwhile and here are a few examples to prove this.
Collecting unique classic cars will not just light up your garage; they can bring in huge returns. Celebrities like Jay Leno and Missy Elliott know this too well, which is why most of them have also become collectors.
In a matter of 10 years, investment value for a classic car can reach up to 467%, topping other investment products such as antiques, watches, and even colored diamonds.
Do not underestimate the value of collectibles. Baseball cards, comic books, action figures, stamps, and even childhood toys can hit the 6-digit mark. A 1963 G.I. Joe was once sold for $200,000 and a 1938 comic book is now worth $956,000.
These items, however, should be in mint condition. A tiny scratch or even a simple autograph can already depreciate their value.
The secret to investing in a hobby, however, is not about buying the items for the sake of earning money. It is mainly about being a collector first and turning it into an investment later on. After all, it is about the passion for collecting because, in the end, it is only worth it when you love doing it.