We all want to save money. Besides the bills we all must pay, we all want to enjoy vacations, purchase special items for ourselves and loved ones, educate our children and help them with their dreams, plan for retirement, and also plan for unseen circumstances. So saving money in a bank or credit union, where it earns interest, is smart.
Investing your money, however, is a better choice. It allows your money to grow, which lets you do even more. Popular investments include stocks, funds, bonds, and real estate. But, there are risks with those investments and you must know exactly what you are doing, otherwise, you might lose everything.
Kevin O'Leary, star of the series “Shark Tank,” has said that making money in the stock market is getting difficult and that bonds do not pay that much. He recommended a more tangible investment. So, in what do you invest? Luxury items.
Investing in Luxury Items
Today, luxury items excite investment experts, including O’Leary. Luxury items offer the following:
- Prestige: experts and laypeople automatically revere and regard certain luxury items simply because they carry high-quality perception (e.g. high-end automobiles, yachts, haute couture clothing).
- Tangibility: you can actually see and feel the luxury item.
- Instant Gratification: as soon as you purchase a luxury item, you can enjoy it.
- Excellent Cash Return: Luxury items offer high rates of returns.
- Low Risk: there is little risk in purchasing luxury items and you avoid the risk that comes with investing stocks, funds, etc.
Investing in Luxury Watches
O’Leary and other investment experts believe luxury watches are a terrific luxury item investment. According to Forbes, he owns over thirty luxury watches, including a Jaeger-LeCoultre Reverso, Rolex Daytona, Rolex Submariner, and Panerai Luminor Base Acciaio. Other sources reveal that he wears three a day. Luxury watches are valuable from the outset and their worth only increases over time.
So, yes, they are a good – no, a great investment. One about which you can be passionate.
Future blogs will continue to explore this topic.