If you’re wondering about how you can get more money by investing, you need to do thorough research. This can help you find the best investments to make that will help you grow your wealth over time. While looking for investments to make, you may come across NFTs, which are Non-fungible tokens. They’ve been making a buzz over the last year, and if you’re wondering if there are any reasons for you to invest in them, have a look below to see five reasons why it might be a good idea to put your money on NFTs in 2023.
1. They’re Unique
The first reason why you may want to invest in NFTs is because they’re unique cryptographic tokens. They’re impossible to forge, which adds to their value. As an investor, you’ll appreciate the fact that each NFT artist typically has just a few pieces to sell, making them rare collectibles with a great chance of maintaining their value. This is something that could appeal to many people, especially those who enjoy collecting things as a hobby. This is based on a recent survey which found that one out of three adults in America collects some physical item or another. This is done either as a hobby or an investment, and among those who identify as collectors, one out of four of them engages with NFTs as well. A whopping 42% of millennials collect NFTs as well, making them popular.
2. They Have a Decentralized Market Place
Another reason why NFTs are an amazing investment is the fact that they have a decentralized marketplace. This means that creators can directly make money from their work, eliminating the need for an intermediary. As a result, NFTs exist in one of the few marketplaces that have a decentralized approach.
3. They’re Secure
NFTs are extremely secure. That’s because of the way in which the market of blockchains works. Your data cannot get lost and so your investment will be safe and extremely valuable. Their ownership is easy to verify and so they have an additional layer of authenticity to them. Veteran traders know that this is an important aspect of an investment item.
4. They Can Be Resold
Most people who have bought NFTs have been able to resell them and make good money doing so. The more rare one of these collectibles is, the bigger the profit that can be made from reselling them. If you invest in the right NFT, you can make good money over time, and you may also become better at learning how exactly to get the most out of your efforts.
5. You Empower Creators and Artists
Last but not least, when you trade with NFTs, you can be content in the fact that you’re empowering artists and creators. That’s because, as mentioned, trading with NFTs takes away the need for a middleman in the process. This means that the creator of each specific NFT has full rights to it and all the money you spend on a piece goes directly to the artist. Note that the size of the American online art industry peaked at about $5.65 billion in 2021. NFTs stand to increase this amount even more and contribute significantly to the art market.
These five reasons should motivate you to look into the next best NFT to trade with. This might help set you up for a successful future of trading. Over time, you may make a good amount of money as you’ll be able to figure out the details that can make trading with NFTs more satisfactory for you in all ways.
Dividends are an important way investors create cash flow from their investments without having to sell off their shares. However, what do you do with your quarterly payout? Do you use it? Reinvest in other assets? Or, put it back into the company to help you earn even more? Many people choose this last option and set up a DRIP investment. If you’re considering option number three, here’s what you need to know.
What Is a DRIP Investment?
A DRIP investment, or dividend reinvestment plan, is a popular strategy where you use your dividends to purchase more of a company’s stock. As the name suggests, it drips your earnings into additional shares, slowly adding to your returns.
Each quarter when companies pay dividends to their shareholders, those with a DRIP investment buy more shares with their earnings. When you opt into the plan, it automatically reinvests your dividends every quarter as part of the dollar-cost averaging approach. By making consistent investments at regular intervals, it lowers the average cost of the company’s shares over time.
Investors also have a better purchasing position since they can buy fractional shares as well. Since you can roll over the full amount of dividends into new stock, it compounds your gains and puts all your money to work for you.
If you want to set up a DRIP investment, you can buy them directly from the company or through a brokerage. As an added incentive, reinvestment plans sometimes offer additional shares for a significant discount.
What Are the Pros and Cons?
Every investment strategy comes with pros and cons. Here’s what you should keep in mind when you are considering a reinvestment plan.
The Pros
1. It gives you compounding gains.
When a stock consistently brings good returns, its value will continue to increase over time. As your dividends increase, you have more to reinvest back into the company, which will pay out even higher dividends.
With a DRIP investment, the cycle of profit continues and you earn higher returns every quarter by owning more shares. Thanks to compounding gains, your initial investment has the potential for unlimited growth.
2. ADDITIONAL SHARES COME AT A DISCOUNT.
Another advantage you get with a DRIP investment is discounted share prices. Instead of paying the open market price, the company will usually offer a reduced price when you reinvest your dividends. The discount can be anywhere from 1-10% which helps you get more for your money.
3. A DRIP investment reduces your risk through dollar-cost averaging.
Banking on the technique of dollar-cost averaging, a DRIP investment reduces your risk and exposure to price fluctuations. When you buy shares at regular intervals, you are not buying them at their peak or lowest price. And since you get the shares at a discount, this lowers the average price to save you money.
4. Investors increase their position with no additional fees.
Since investors can purchase shares for up to a 10% discount, a DRIP can increase your purchasing position. When you buy shares below the market value, can buy more shares in the company and set yourself up for even greater dividends.
Plus, they usually come with zero commission and brokerage fees. Unlike other investment options, you can avoid trading fees to free up even more money for reinvestment.
5. DRIP INVESTMENTS TAKE AN AUTOMATIC APPROACH.
Most investments require careful monitoring and adjustments based on market fluctuations. But, this is one of the few investments where you can set it and forget it. It continues making regular investments until you decide to stop. Not only does this prevent you from rash decision-making during downturns, but it also keeps you focused on your long-term goals.
6. IT’S EASY TO SET UP AND MANAGE.
It’s really very simple to set up a DRIP investment. Once you enroll in the plan, your work is done. It automatically reinvests your dividends so you don’t even have to think about it. The plan remains in place indefinitely and requires little oversight since it purchases the shares with no consideration of the market price.
The Cons
1. Plans vary between companies.
Although the structure of a DRIP investment is universal, the plans may vary between companies. For example, they may charge a one-time setup fee or offer different discounted rates when you buy additional shares. To find the details of a particular company’s stock, you should contact their Investor Relations department to learn more.
2. It limits your investing options.
When you sign up, DRIPs will automatically reinvest your dividends for you. However, they will only use it for their stock. If you have other ideas for investing your dividends, then this isn’t the right product for you.
3. A DRIP may have minimums.
As mentioned above, every plan is different. Before you sign up, find out if they require you to purchase a minimum number of shares to participate.
4. It comes with a restrictive reinvestment schedule.
With most brokerage accounts, you have the option to buy stock whenever the mood strikes. However, a DRIP only reinvests dividends when they are paid out. And since this is done automatically, there is no consideration for market conditions. If shares are high, it could end up costing you more to reinvest with the same company.
5. It could create an unbalanced portfolio.
If some of your stocks are paying dividends while others aren’t, a DRIP could lead to an imbalance in your holdings. While this reinvestment strategy has many benefits, an unbalanced portfolio reduces diversification and makes you more reliant on the stocks you own more shares of. This overexposure could leave you vulnerable when market conditions change.
6. You still have to pay taxes on your dividends.
While you can reinvest the entire amount, you still have the tax burden of dividends. Even when you reinvest them, dividends are considered taxable income. If you don’t account for this, you may end up paying out of pocket later on.
How Do You Set Up a DRIP Investment?
Although some brokers prefer not to let a calendar dictate their investment strategy, establishing regular investing habits is good for your long-term financial plans. If you and your financial advisor believe this would be a good addition to your portfolio, it’s simple to set up a DRIP investment.
Research which companies offer DRIPs. You can easily find this information online. However, some brokerages may set up their own DRIPs, even if the company doesn’t offer them publicly.
Decide which stock to buy. Look into their dividends history to ensure they have a proven track record of profitable performance. It’s also a good idea to choose a stock that will help you maintain a balanced portfolio.
Become a shareholder. Once you know what stock you want to buy, you have to become a shareholder. You have several purchase options. This can be done directly through the company, a brokerage, or your online brokerage account.
Enroll in the DRIP. The easiest way is to facilitate it through a brokerage. If you use your online brokerage account, the site will usually include tutorials. However, if you choose to go directly through the company, you will have to enroll through their Investor Relations department or with a transfer agent.
Watch your dividends grow. Once you’ve enrolled, the DRIP will automatically reinvest your dividends following each payout. It will continue to do so until you opt out of the program.
If you are a new investor, DRIP investments are a great way to grow your portfolio. However, if you plan to live off the dividends, it make not make sense for your investment strategy. As with all investments, you should always weigh the benefits and discuss them with your financial advisor to see if it’s the right choice for you.
Jenny Smedra is an avid world traveler, ESL teacher, former archaeologist, and freelance writer. Choosing a life abroad had strengthened her commitment to finding ways to bring people together across language and cultural barriers. While most of her time is dedicated to either working with children, she also enjoys good friends, good food, and new adventures.
If you buy into all the latest investing apps, they make it look simple. But don’t be fooled; investing gets complicated. And it can become even more so if you are trying to stay ahead of new trends, strategies, financial products, and fluctuating markets. However, using common sense and sticking to a few key financial principles can help you navigate your finances. Unfortunately, many people forget these and make foolish mistakes that cost them money. Even if you are just starting out, here are 10 investing principles everyone should understand.
10 Investing Principles Everyone Should Understand
1. Saving and investing are two different things.
One of the most common misconceptions that I hear is when people assume that their saving and investing strategies are one and the same. However, understanding the difference is one of the most important investing principles.
Investing is an important part of long-term retirement planning. But, it requires you to put money in riskier assets to get higher returns. On the other hand, saving goals require more stable products and should be accessible when you need funds. Since you are allocating the funds towards different goals, they should operate independently of one another.
2. You aren’t Warren Buffett.
If you enjoy discussing investment strategies, you will encounter many eager, young investors who have high hopes of becoming the next Oracle of Omaha. However, you have to be realistic. You are probably not the next Warren Buffett. But, that doesn’t mean that you can’t develop a sound investment strategy.
The average investor will experience moderate success with sound decision-making and long-term gains. While it’s great to have role models and high aspirations, you must make decisions based on your financial situation.
3. You can’t time the market.
Investors have always tried to predict the future and time the markets to maximize their ROI. But, no one has a crystal ball and investing isn’t an exact science.
Truth be told, it’s impossible to know exactly how the markets will react. Therefore, you shouldn’t try to time the markets. There will always be ebbs and flows, so it’s better to take a measured approach to ride out the highs and lows of these fluctuations.
4. Day trading is harder than it looks.
When day trading apps hit the scene, it was big news. In the past, investors relied on brokers to handle their trading. But now, the average investor can access the same markets without a middleman.
Although these apps have made investing more convenient, day trading is much harder than it looks. If you were to ask someone who makes several trades a day, they will probably tell you that they don’t make much money. In fact, many people experience losses from these trades. That’s not to say that you can’t make money day trading. But, it’s naive to ignore how much skill and luck it takes to be successful at it.
5. You probably won’t get rich on meme stocks.
Investing has become a popular topic of conversation on social media. With a quick search, you can find hundreds of sites and videos that discuss new products and available stocks. Some of these groups and forums attract novice investors and create frenzies when the nets start buzzing about the latest meme stocks.
Unfortunately, it’s probably too late to jump on the gravy train by the time it becomes newsworthy. Unless you owned these stocks become they became popular, there is very little chance you will make money from meme stocks. Any financial advisor worth their salt will tell you to avoid popular trends and stick to the fundamental investing principles and strategies.
6. Diversify!
When it comes to your assets, you never want to be all your proverbial eggs in the same basket. Therefore, diversification is an important way to mitigate risk and protect your portfolio during market declines.
When you are building your portfolio, you want a healthy, well-rounded amount of offerings with different types of assets, including some that are inversely correlated or independent of the stock market. For those who take a more hands-off approach, index funds are a wise investment since they have built-in diversification that will bring you steady returns.
7. Short-term losses and market fluctuations are normal.
If you have been tracking your portfolio day to day during the last year, it has been gut-wrenching. But when I get that feeling in the pit of my stomach, my financial planner always reminds me that market fluctuations are the nature of the game.
You have to accept that there will be periods of significant gains and serious losses. Remember, these fluctuations are normal and market corrections will happen. The worst thing you can do is panic sell. Instead, take a longer view and allow time for the markets to rebound.
8. Expect taxes and fees.
When you are investing and earning dividends, you should expect to pay management fees and taxes on your trades. When it comes to your investments, there are going to be tax implications when you sell stock or take withdrawals. So, you should have a clear understanding of these before you act.
9. Investing shouldn’t be one-size-fits-all.
Everyone has different risk tolerance and long-term goals. That’s why the initial assessment is so important to your strategy. If you haven’t done it already, it will help you determine where you are at in life and what products and assets will get you to your goals. Every situation is unique. Therefore, a one-size-fits-all approach won’t work when it comes to investing.
10. You have to monitor and adjust your strategy regularly.
There are several helpful investing principles. But if you take nothing else from this list, let it be this: change is constant. So, you have to monitor and sometimes adjust your strategy.
Markets and economic conditions never remain stagnant. Since they are always changing, you can’t just set your strategy and walk away. It’s a good habit to check them on a regular basis. Or if you prefer, pay someone to do it for you. As markets and circumstances fluctuate, may need to rebalance, reallocate funds to more profitable investments, or adjust your risk tolerance level. If you aren’t willing to adapt, it could cost you more than you realize.
Editors note: If you’re reading this because you’re looking for fresh investing ideas you could always go and read about dividend stocks at Ten Factorial Rocks. It’s a nice little site with some good thoughts on investing.
Jenny Smedra is an avid world traveler, ESL teacher, former archaeologist, and freelance writer. Choosing a life abroad had strengthened her commitment to finding ways to bring people together across language and cultural barriers. While most of her time is dedicated to either working with children, she also enjoys good friends, good food, and new adventures.
Lately, it seems that every time the market takes a dip, there are tons of articles and blogs talking about investing in alternative assets. It makes sense that people would want something tangible when everything else is uncertain. While gold, silver, and collectibles usually top this list, bibliophiles know the value of a rare book. So, why not turn your passion into a way to earn income? Although most people won’t make enough to retire, serious investors know the value of investing in rare books and have been doing so for years.
Why Are People Investing in Rare Books?
When people decide to invest in rare books, it usually stems from a love of the written word. Like most types of alternative assets, people look for tangible assets that can bring both pleasure and financial gain. Whether it’s fine wines, classic cars, art, antiques, or even toys, many investors find ways to incorporate their passion into their portfolios. And with the right pieces, these investments offer high returns when they appreciate.
However, you don’t need to be a bibliophile to start investing in rare books. One thing that makes them an attractive investment is that their value doesn’t depend on the performance of the stock market. Furthermore, the appreciating value tends to be more linear than other types of assets. Based on the returns from well-established collections, a rare book’s value typically doubles in value after 7 years, with normal inflation rates. And as long as it’s well cared for, it will retain its value for years to come
Where Can You Find Rare Books?
Unfortunately, you are not likely to find rare books at your local bookstore. You will have to start searching in more specialized markets such as auctions, estate sales, book fairs, and private dealers.
Auctions
Auction houses have brokered the sales of some of the most valuable books ever sold. The greatest benefits of buying from reputable auction houses are that they often have access to extremely rare items, and their experts are able to authenticate the books. Plus, auctions will usually ensure that the rarest and most valuable books fetch top dollar for the seller.
Dealers
Like art, book dealers can help you locate rare books. Therefore, it’s crucial to find someone you can trust to look out for items suitable to your taste and collection. Paying a dealer may also allow you to jump on opportunities before they become public knowledge.
Online Platforms
Anytime you purchase something online, you should use caution. So to help you find better vendors, search for platforms dedicated to investing in rare books. These are credible platforms that carefully review each book and verify its authenticity. Not only is it convenient, but it also gives you greater access to books from around the world. And if you can’t afford to purchase it outright, you can also buy shares in valuable books.
12 Things to Know Before Investing in Rare Books
Based on the advice from expert collectors, here are 12 things you should know before you start investing in rare books.
1. Know what you are paying for.
With any investment, research everything before you buy. It may take a while to uncover the true origins of a book, which is why the majority of a dealer’s price is for their time to do this for you. However, you must do your research and know what you are paying for. This will help determine if a book is the real deal or prevent you from making an expensive mistake.
2. Only buy from reputable dealers.
The internet has changed many things about investing in books. If you buy online, it is much more difficult to authenticate and judge the quality of items. But generally speaking, a detailed description of the book and its condition are good indications that what they are selling is authentic. And if need be, you can always ask for additional photos of markings for further verification.
3. Condition is key.
Like all collectible items, books never can improve their condition. At best, they stay the same. At worst, they deteriorate with time. Even if you have a rare book, any damage and wear will affect its value.
4. There is no price guide or catalog to track their value.
One of the greatest drawbacks of these investments is the subjectivity of their value. Unfortunately, there is no price guide or catalog to tell you the exact value of the book you have. There is huge variability, even for books within the same edition.
Several factors besides quality also can add value such as age, rarity, desirability, inscriptions from the author, first editions, limited editions, or the inclusion of the dust cover. But ultimately, a book’s value is whatever the buyer is willing to pay.
5. Buy the best books you can afford.
Serious collectors will tell you not to waste time on low-quality books. Instead, buy the best ones that you can afford. Look for the best examples of an edition or title that you are interested in since they are worth significantly more.
6. Invest in books that you have an interest in.
Tracking down titles and research can become tedious. So, invest in books that interest you. If it is a labor of love and not only profit, it makes the task more enjoyable. And, it makes the successes that much sweeter.
7. You need to develop a personal network of people you can trust.
Collecting books can become highly competitive, especially for the most desirable titles and authors. Therefore, you should build a network of people you can trust to help you build your collection. This could include other collectors with different interests or specialized dealers. And, don’t forget to use the digital tools at your disposal to help you expand your network.
8. Don’t buy a valuable book if you aren’t prepared to care for it properly.
If you buy a rare book, it must be stored safely to protect it from fire and water damage. Unfortunately, if it isn’t properly cared for, the value will deteriorate with the condition. So, if you aren’t prepared to store it, don’t waste your money.
9. There are lower transaction costs if you go through a dealer.
Although auction houses handle the rarest and most valuable books, there are lower transaction fees when you use a private dealer. On average, auction houses take a commission of 35-45% which is shared between the buyer and the seller. However, a dealer’s commission is usually 15-30% so you will get a better return on your investment.
10. Like any valuable asset, consider getting insurance.
Any time you purchase an expensive asset, you should insure it. Sometimes, you can include coverage for rare books under your homeowners’ insurance. However, you can also obtain specialist insurance through reputable brokers. And, it’s not as expensive as you might think.
11. You can purchase fractional shares of valuable books.
Even if you don’t have enough funds to purchase a book, you can still purchase fractional shares. Although you won’t be able to display it in your home, this way of investing has less risk, lower costs, and eliminates the expense of storing it. This may be the best option if you are more interested in the financial gains than the asset.
12. Have a strategy before you start buying.
Lastly, have a strategy before you start investing. Don’t just buy books that look old or have a familiar title. There should be some sense of cohesion in your collection. Decide whether you want to focus on the most valuable books you can find, or if you would like to specialize by genre, author, classics, or generational favorites. This will help limit your search and help you find the titles you truly want.
Diversifying Your Portfolio
A good collection that is carefully curated by a knowledgeable collector has value in itself. However, rare books provide a low-risk investment that retains its value over time. Since their value is not correlated to the performance of the stock market, it offers greater diversification for your portfolio.
As Ernest Hemingway said, “There is no friend as loyal as a book.” And now, you can turn that loyalty into a valuable asset.
Jenny Smedra is an avid world traveler, ESL teacher, former archaeologist, and freelance writer. Choosing a life abroad had strengthened her commitment to finding ways to bring people together across language and cultural barriers. While most of her time is dedicated to either working with children, she also enjoys good friends, good food, and new adventures.
For the last two years, the housing market has been booming. But after going on a tear, there are signs that changes are ahead. Many hopeful people are wondering, is the housing market finally cooling off? This would come as welcome news for prospective buyers who have been priced out of homes or stuck in bidding wars. Based on market analysis and recent trends, there are several indications that the housing boom may be over.
The Housing Market Since Covid-19
There have been drastic fluctuations within the real estate and housing markets over the last few years. Namely, everything has gotten more expensive. The national average price of homes has increased by 30% since the pandemic began. In 2020, the national average was $329,000, but prices peaked in May 2022 at $430,000.While people expect the normal increase between 3-5% each year, prices rose by 12% in 2020, and 15% in 2021.
These figures represent the national average, but home prices vary greatly between states. California, Hawaii, and Washington D.C. have seen the greatest increases with the most expensive average home prices. However, the median cost for a home in Arkansas, Mississippi, and West Virginia is well below the national average.
As the economy rebounded from the impacts of Covid-19, it became a seller’s market. There were growing demands for homes, but only a 1.7% increase in the number of available units. Since the supply couldn’t keep up with the demand, home prices skyrocketed across the country. But now that prices are stagnating, economists believe that there are changes ahead.
8 Signs the Housing Boom is Over
Due to recent trends, some analysts believe that the spike in the housing marketing may be leveling off, with hopeful anticipation that it may even be in decline. Based on recent sales data, there may be some indications that the housing boom is over.
1. Major markets are cooling down.
Cities like Phoenix, San Diego, and Denver saw some of the steepest increases in the real estate market. However, prices have started receding in the last few months.
In August 2021, prices increased by 30.9% in Phoenix. However, a year later there was only a 17.8% increase. In San Diego, prices were up 23.2% in 2021, but only 13.7% for 2022. Additionally, Denver residents saw an 11.4% increase in 2022, down from 19.5% in the previous year. If these trends continue for the next few months, it’s safe to say that some of the hottest markets look to be cooling down.
2. Inventory is increasing.
Of course, available inventory will vary between markets. But generally speaking, there are more homes available on the market today than in the last two years. Based on data compiled by Redfin, there were 1.8 million homes for sale in August while only 1.1 million were listed in January of 2022. And if there is more competition, that usually means lower prices.
3. Prices are falling.
The national average for the price of homes peaked in Q2 of 2022 at nearly $430,000. Since then, median home prices have fallen, now settling around $389,500.
Although this is s positive sign, it should be taken in stride. Sales data can change from month to month, with slight increases in some cases. However, the general trend shows that prices are falling. This comes as a huge relief to potential buyers who have been priced out of purchasing a home or forced into bidding wars. If prices continue to fall, more people may finally be able to afford their own homes, providing further relief in the rental market as well.
4. Houses are selling below the asking price.
During the height of the boom, realtors expected nearly every home to sell above the asking price. In many instances, interested buyers had to incentivize owners to sell to them by waiving inspection fees, writing personal letters, or paying extra to convince them to sell. Now, more homes are selling at or below the original asking price.
5. Homes are staying on the market longer.
Looking back, it was also common for a home to sell the first day it listed, sometimes within hours. People rushed to snatch up listings before the competition had a chance to act. Because of this, homes rarely stayed available for more than a few days and brought dozens of interested buyers.
However, houses have been staying on the market longer. In August 2021, the average number of days on the market was 17; in 2022 it was 26 days. This number is likely to continue growing as the holidays approach and the year comes to a close.
6. Sellers are reducing the asking price.
Sometimes people make mistakes and misprice their homes. This can scare people off, so the seller may reduce the asking price to attract more attention. But, more and more people have had to lower their initial asking price in recent months.
The same figures from August show that 21.7% of listings had to reduce their price, a drop of 9.2% from the year before. If the tide is turning to a buyer’s market, homeowners will have to become more conservative when they set their price point.
7. Mortgage rates are increasing.
The rise in the housing markets hasn’t gone unnoticed by the federal government either. One way national policy can influence the housing market and slow price increases is by increasing interest rates. Since it affects mortgage rates, it often discourages people from buying homes. As a result, buyers become more hesitant to purchase a home, and prices tend to drop.
According to Freddie Mac, the average 30-year fixed-mortgage rate was at 3.22% at the beginning of 2022. However, it soared to 7.08% by the end of October. Although experts hope rates won’t continue to increase, the trend is likely to continue until inflation has been curbed.
8. Home construction is also increasing.
The lack of available homes put an enormous amount of pressure on the housing market. Since the cost of construction materials was high, it severely limitd the number of new builds. But, more people are breaking ground and building new homes. THis should help supply issues and help stabilize prices over the next few years.
Getting Down to the Brass Tacks
No one can deny that the market has been on a tear since the pandemic. However, national sales data shows that these drastic increases may be slowing. It could be a sign that the housing boom is over and turning from a seller’s to a buyer’s market. Or, it could just be a slight stagnation as inflation continues to affect prices. We can make educated guesses, but no one can predict what the markets will do.
While it’s wise to try and buy when prices are low, you shouldn’t put off a home if you need to buy now. If these trends continue, it may be a good idea to start looking at prospective properties or shop around for mortgage lenders. That way, you’ll be ready and pre-approved for a loan when the right opportunity comes along.
Jenny Smedra is an avid world traveler, ESL teacher, former archaeologist, and freelance writer. Choosing a life abroad had strengthened her commitment to finding ways to bring people together across language and cultural barriers. While most of her time is dedicated to either working with children, she also enjoys good friends, good food, and new adventures.
Taking bad advice usually has negative consequences. However, taking terrible investing advice could cost you your future. If you receive any of the following tips, it may be a red flag that it’s time to start thinking about where you get your financial advice.
10 Pieces of Terrible Investing Advice You Should Ignore
1. You should use the same financial advisor as your family and friends.
Even if the suggestion comes from someone you trust, it doesn’t mean their financial advisor will have the best advice for you. We each have personalized goals, different levels of risk tolerance, and unique financial situations. So, you need to find someone who understands what you need.
You should look for someone who aligns with your goals and explains things in a way you understand. Therefore, you need to do your due diligence and research any new potential candidates. Gather as much information as possible before you make this important decision. Read other client reviews, set up a consultation, and ask how they make a profit. No matter which route you choose, it’s wise to find out who you are working with before you give them access to your financials.
2. Traditional investment vehicles like IRAs and 401(k)s are outdated.
For some reason, there is a current attitude that long-established strategies for generating wealth, such as traditional retirement accounts, are outdated. To put it bluntly, this is terrible investing advice that you should ignore.
There are reasons why most investors utilize IRAs and 401(k)s. While they may be boring and more lackluster than other, newer investing options, funding these retirement accounts is a tried-and-true strategy to build wealth.
3. Buying a home is always a good investment.
Generally speaking, real estate appreciates over time. This leads many people to believe that buying a home is always a smart investment. While this may be true for many people, there are times it may prove to be bad advice.
For example, if you don’t plan to live there long, the costs for the transaction, maintenance, repairs, taxes, and insurance could undermine your investment. It also doesn’t provide much security through retirement if the value of the home isn’t liquid and you can’t access the equity. I’m not saying that buying a home is a bad decision, but it may not be the best financial move for every situation.
4. When stock prices fall, sell everything to cut your losses.
Markets are constantly in flux, so you shouldn’t get swept away by every rise and fall of the ticker. Watching the market moves can become gut-wrenching, especially when prices are volatile.
If you see the value of your portfolio diving, don’t panic. Many people’s first instinct is to sell everything before they lose more money. However, making impulsive decisions like this are the worst thing you could do. It’s better to trust your strategy, knowing that the markets will eventually stabilize. You should adopt a more long-term view, or you could miss out on the gains when the market rebounds.
5. Investing is too risky; stick to cash.
Investing comes with inherent risks. But, not investing at all is the greatest threat to your long-term goals.
Of course, it’s smart to have some cash stores, but saving and investing serve two different goals. You need to invest so your money earns enough interest to grow your wealth and outpace inflation. Letting money sit idle in a low-yield savings account or under your mattress will reduce your purchasing power. It’s better to mitigate the risk and put your money to work for you.
6. Thousands of people can’t be wrong.
Many amateur investors chase trends because they fear they will miss out on an opportunity. They hear their friends talking or read news articles trying to predict the latest hot stock tip. In their minds, if thousands of people are doing it, then it can’t be wrong.
Unfortunately, many lose money when they follow fleeting trends. You must do your research and evaluate the investment before throwing money at it. Although there may be power in numbers, don’t fall victim to the mob mentality.
7. Create an investment strategy from advice on social media.
There are many financially-savvy influencers on social media that have good advice and strong backgrounds. However, there is also a ton of misinformation and terrible investing advice too. A glance at the loss porn and strategies shared on r/wallstreetbets will make the most experienced investors cringe. While you may be able to find some sound advice on social media, it’s usually not a good idea to take advice from someone who doesn’t know you or your situation.
8. Invest in the latest hot stock if people you know are making a profit.
Another problem with jumping on the latest hot stock bandwagon is that if share prices are up, it’s probably too late to make a profit. Most investors who make a killing during trends held stock prior to the frenzy. Buying it after it becomes buzzworthy won’t bring you big profits.
More conservative investors buy index funds with steady gains rather than trying to get lucky and strike it rich. Picking stocks is a gamble, and there are very few winners.
9. Increase your profits by timing the market.
Even novice investors know to buy low and sell high. However, no one can tell you exactly when that is. There is no crystal ball, and predictions are an educated guess, at best.
Trying to time the market rarely works out in your favor. If you buy too soon, you might pay more than you should. But if you sell too early, you miss out on the gains. It’s enough to drive you crazy. So, it’s probably wiser to invest in assets that provide greater diversity and insulation against market fluctuations.
10. You need to hire a professional to manage your portfolio.
Despite what people say, you don’t need to be an expert to start investing or managing your portfolio. While many feel more comfortable turning it over to a professional, DIY investors prefer to do it themselves to avoid the management fees.
If you aren’t quite ready to go it alone, there are free robo-advisors that can assess your situation and help you create an investment strategy. Once you determine your risk tolerance, it will select investments to match and make suggestions based on your goals.
Where to Get Good Advice
A financial advisor is there to guide you through important financial decisions. However, even experts make mistakes that could cost you money. Some investors find that they do better on their own.
The reality of investing is that many decisions must be made in uncertainty. But make no mistake; there is a distinct difference between losing money from a decision based on sound judgment vs poor counsel.
When choosing a financial advisor, you want someone who isn’t putting their self-interest before the client. Furthermore, you need someone who is knowledgeable and performs their due diligence before making a suggestion. If you disagree with their advice, get a second opinion. And never be afraid to ask questions. You want to be sure you have the right person for the job since you will be entrusting them with your future financial security.
Jenny Smedra is an avid world traveler, ESL teacher, former archaeologist, and freelance writer. Choosing a life abroad had strengthened her commitment to finding ways to bring people together across language and cultural barriers. While most of her time is dedicated to either working with children, she also enjoys good friends, good food, and new adventures.
When people purchase real estate, most buyers are only interested in the land and buildings. However, many never consider the value of empty space. In large cities where space is limited, the air space above the property may be just as valuable as the lot itself. If you are looking to pull money from thin air, there are potential opportunities for huge profits to buy and sell air rights.
What Are Air Rights?
Since air rights may add value to your property, it’s beneficial to know what they are and how they work. The term “air rights” refers to the legal right to use or develop the space over or near a property. These rights apply to both vacant lots and those with existing structures. The definition is a vague guideline that varies by location, but it can incorporate upper stories of tall buildings, power lines, or coveted views.
Most cities severely restricted air rights, especially in residential zoning areas. However, in places where ground space is limited, the ability to build up becomes more important. Companies and real estate developers pay big bucks for the unused and transferrable development rights for air space.
Unfortunately, calculating air space can be complicated and often requires professional input to “true-up” the numbers. But to give you a basic idea, you have to find the floor area ratio (FAR). To get this number, you take the maximum floor area permitted for the zoning lot and subtract the floor space of the existing structure (if there is one). The remainder is your total amount of air space for a given lot. Once you have a quantifiable amount of space, you can put a value on it to buy and sell.
What Laws Regulate Air Rights?
Like all valuable assets, there are laws that establish and regulate air rights. Generally speaking, you can utilize the air space on your property however you see fit. That is, as long as new development complies with height restrictions, zoning laws, and the city’s building codes. For those who are just learning about them, here are a few of the most important regulations you should be aware of when you buy and sell air rights.
Elevation Restrictions
In most cases, when you buy real estate, you are also purchasing the air rights, unless otherwise specified. However, your air rights aren’t endless. For example, they don’t extend into navigable space. Your air rights include a maximum of 1,000 ft above the highest obstacle. Beyond that, you enter into FAA federally regulated space.
Municipal Zoning Laws
Additionally, air rights depend on the local zoning laws. Cities strictly regulate land use and development. Therefore, all buildings must comply with municipal codes and regulations which determine the reasonable amount of vertical space suitable for development on a given lot. Zoning laws vary by location and district within a municipality as well.
Furthermore, different zoning laws exist for commercial, industrial, and residential spaces within the same city. Ignorance of the laws could lead to expensive complications. Therefore, it’s best to do your research and seek legal counsel before making any purchases.
Encroachment
Lastly, the boundaries of all structures and new development must remain within the specified property lines. While lots can be strung together to increase the amount of usable air space, it cannot encroach upon the space of properties you do not own.
If any new construction extends into the air space of a neighboring property, you may have to remove it at your own expense.
Can You Buy and Sell Air Rights?
The Cost
While the legalities are important, the most pressing question is “How much will it cost?” Unfortunately, there are no standardized answers. The pricing for air space depends on where you are looking.
Like real estate pricing, air space is more expensive in densely populated urban areas. And people will pay even more for desirable locations with great views or highly sought-after zip codes. So, it’s going to be much more expensive to buy air space in larger cities like New York, Los Angeles, and San Francisco.
Furthermore, you may face additional challenges and fees if you are looking at historical buildings or cities with high taxes. However, you can expect anywhere from $200-$400 per sq. ft. for available air space.
The Gains
Once you understand what they are, you may be asking yourself why people buy and sell air rights. The simple answer is that it can be lucrative for both parties. Property owners who need an influx of cash for repairs, maintenance, or other development get the capital they need. And if they had no plans for the air space, it is pure profit.
On the other hand, the buyer gains more options when they buy air rights. Obviously, they get more space which they can use to build larger structures. However, many developers purchase air rights of surrounding lots to protect views from their building or increase the property value.
The Fine Print
Air rights can get complicated, especially when there are several interested parties. Obtaining them often involves negotiations, legal fees, and an official contract.
In most cases, air rights transfer with a sale agreement. However, you can also gain more air rights through a zoning lot merger as well. Either way, you must purchase the space and secure the Transferable Development Rights from the current owner.
Although it is possible to buy and sell air rights, there are strict limitations. Local zoning laws dictate many of them. However, you should also be aware of any light and air easement provisions that prevent future development as well.
Before you make a financial commitment, you can hire a consultant to review the development rights and city zoning codes. Having an expert on hand can help you identify good investment opportunities and avoid paying more than you should. Not only can you avoid costly mistakes, but you can also ensure you are getting the best value for your money.
Jenny Smedra is an avid world traveler, ESL teacher, former archaeologist, and freelance writer. Choosing a life abroad had strengthened her commitment to finding ways to bring people together across language and cultural barriers. While most of her time is dedicated to either working with children, she also enjoys good friends, good food, and new adventures.
When it comes to investment strategies, there is no single prescribed way to maximize your returns. While most investors choose to put their money into stocks, bonds, or real estate, they are not the only options out there. Some people seek out more unconventional assets such as collectibles. Although many of us are still holding on to childhood memorabilia in the hopes that someday it may be worth a fortune, chances are slim that you will see five-figure returns. However, some of these may net you better returns than traditional portfolio assets. Here are some of the oddest collectibles to invest in 2022.
The Best Collectibles to Invest in 2023
1. Stamps
As the king of all hobbies, most people know that rare stamps are worth a small fortune. With a quick Google search, you will find dozens of news stories of stamps that sold for millions of dollars. Although experts estimate that only 1% of stamps worldwide will appreciate over time, it is one of the safer options on the list of oddest collectibles to invest in 2021.
If you are lucky enough to have one of these in your collection, it could earn a yield between 5% and 20%. However, they also advise that you will need to hold these assets for up to 15 years before you see significant returns.
2. Coins
Collecting coins is a popular pastime that has huge rewards to the most persistent collectors. In fact, rare coins can bring in thousands or even millions of dollars at auction. While your wheat pennies will only sell for a few bucks, coins made from precious metals or featuring mistakes are the most valuable ones. Unfortunately, investing in coins doesn’t earn you any dividends. Therefore, the value depends entirely upon how much someone is willing to pay.
However, gold coins provide a more tangible return for investors. Even after nearly 600% growth in the last two decades, gold prices continue to rise. So, even if these coins hold no value among coin collectors, they will always be worth their weight in gold.
3. Comic Books
In recent years, Hollywood has brought our favorite childhood superheroes back to life. But, it has also made many super-fans rich. With the recent surge in popularity, original comics in mint condition now fetch top dollar at auctions. For example, a 1938 comic featuring Superman’s first appearance sold for over $2.1 million.
If your comic books have been well-loved and show their age, they won’t be worth nearly this much. However, it is possible to find rare issues at conventions that you can sell or trade for a profit. Comic-Con events are a great place to build your comic book collection as well as find some of the oddest collectibles to invest in 2021.
PFadvice.com has a very good series of which comic books are the most valuable, by decade. The site also provides a useful discussion about what makes comics valuable. Hint: when the comic’s characters get adopted by popular culture, the value of the comic book increases. Here are the lists of the most valuable comic books of the 1960s, 1970s, 1980s, and 199os.
4. Trading Cards
While this is a broad category, trading cards are a solid choice if you want to invest in collectibles. The most attractive thing about trading cards is that you can personalize them to your own passions or interests. Whether you are into baseball, Pokémon, Yugioh, or Magic the Gathering, rare cards are worth millions.
If you had any trading cards as a child, dust off your collection and check their value. Even if you don’t have a Topps 1952 Mickey Mantle card, your trading cards could still be worth money.
5. Toys
Vintage toys are another good option for collectors. As with comics, vintage toys from the 80s and 90s have seen a huge resurgence in popularity. If you held onto your favorite toys after the various toy crazes subsided, they could fetch a good price, given they are in good condition. Action figures, Beanie Babies, Legos, Barbie dolls, and Hot Wheels are all hot-ticket items right now.
When you are ransacking your home for valuable collectibles, look for items still in the original packaging. However, if you don’t have any toys from your own childhood, you can always begin a new collection.
The Oddest Collectibles to Invest in 2023
Now that we’ve covered the most common and valuable ones, here are some of the oddest trends and collectibles that people are investing in.
1. Sneakers
Any vintage item in good condition will generally bring a good price. However, sneakers are quickly becoming one of the most valuable vintage items on the market. There is a huge demand for first and limited-edition sneakers. In particular, Nike and Adidas sneakers in mint condition regularly sell for thousands of dollars on eBay.
A recent article from the Huffington Post uncovered that vintage sneakers provided better returns than gold. However, be warned that prices and demand are unpredictable. So, it’s a bit of a gamble knowing which shoes to invest in.
2. Electronics
It’s not surprising to learn that vintage electronics fetch high prices at auction. Original Apple products and first-generation devices not only make great conversation pieces, but also sell for millions online.
While you probably don’t have an original Macintosh computer lying around, early generation iPods, Alexas, and Nintendo DS gaming systems are likely to appreciate in value over time. Since most of this technology is still relevant, early editions are relatively easy to find. So, if you have any vintage electronics still in the box, it would be worth your while to hold on to them to see if they increase in value over the next few years.
3. Anthropomorphic Taxidermy
This is by far the oddest collectible to make the list. For those who don’t know what it is, anthropomorphic taxidermy is the art of preserving dead animals and displaying them in human situations. For example, specimens are usually dressed in human clothing or posed into human roles and settings. Although it may seem odd to many people, this type of art is extremely valuable to the right collector.
Investing in Collectibles
If you are looking to invest in less traditional assets, collectibles are a fun and interesting way to diversify your portfolio. However, it always includes greater risk than more traditional options like stocks and bonds. While there are no guarantees that your collectibles will bring high returns, patience is a virtue. Although most collectibles won’t earn a fortune in your lifetime, you never know…your favorite collectibles could bring you more than enjoyment in the years to come.
Jenny Smedra is an avid world traveler, ESL teacher, former archaeologist, and freelance writer. Choosing a life abroad had strengthened her commitment to finding ways to bring people together across language and cultural barriers. While most of her time is dedicated to either working with children, she also enjoys good friends, good food, and new adventures.
One of the best ways to generate income and supplement your salary is through passive income streams. Sure, you could make more money by working longer hours, getting a second job, or trying to advance your career. But, there are only so many hours in a day which severely limits your earning potential. Investing your money in passive income streams allows you to put your money to work for you. And, you don’t need a ton of money to get started. Here are 7 ways you can create passive income streams with a $1000 investment.
7 Passive Income Streams from a $1000 Investment
1. Buy Stocks
Many investors will tell you that buying dividend stocks is the simplest and most profitable passive income stream. You can purchase stocks from well-established companies with a history of good returns. Or, you could try your hand at picking your own stocks. While this comes with greater risk, it could also have greater financial rewards.
Those who are more risk-averse can invest in mutual or index funds. These offer you more market exposure and a percentage of the dividends from multiple companies. Another benefit is that the built-in diversification helps protect your assets during market fluctuations.
However, if the idea of choosing your own stocks has you panicking, you can always hire a robo-advisor. Having an automated investment manager that uses your preferences and input to customize your portfolio takes the guesswork out of the equation. It also takes a hands-off approach and avoids the predatory sales tactics of human financial advisors. And, the low fees and lack of account minimums are great for beginning investors.
2. Invest in REITs
Investing in REITs is another great option for those with a specific interest in real estate. These trusts pool money to buy and manage residential, commercial, and industrial properties, then pass a percentage of the earnings to their shareholders.
You have over 200 publicly-traded REITs to choose from. But, a handful stand out from the competition. The ones that are making the most recent headlines include AvalonBay Communities, Realty Income, W.P. Carey, and SL Green Realty.
There are also new crowdsourcing platforms such as Fundrise, CrowdStreet, and DiversyFund where you can buy a percentage of properties. These are great options for people with little cash since you only need $10 to buy-in. And, most earn an average of 8-12% returns on their investments. If you were to reinvest your dividends, it could turn into one of the most lucrative passive income streams from only a $1000 investment.
3. Purchase Bonds
Now that the stock market isn’t performing as well, there is more focus on purchasing bonds. There are various types to choose from including bonds issued by a company, the state, or the federal government.
When you purchase bonds, you are essentially loaning money with the expectation that they repay the loan plus interest. And, you can choose terms and timelines that best suit your goals. In general, bonds are a low-risk investment that helps offset the equity in your portfolio. Furthermore, since their value is indirectly correlated to the stock market, they perform better when stock prices are down. So if you want to hedge against inflation and market fluctuations, bonds are a safe bet.
4. Open a High-Yield Savings Account
If you aren’t looking for ways to expand your portfolio, there are smaller changes you can make to generate passive income streams. For example, choosing accounts that offer better interest rates will earn you money. Rather than letting your money accrue minimal interest in your checking or savings account, you can transfer it to a high-yield savings account.
It’s easy to set up and transfer funds, especially if you already hold other accounts with the bank. However, you can earn even better rates if you choose an online bank. By opening a high-yield savings account with interest rates of around 0.6%, you earn more money with minimal effort.
5. Rent Out Your Spare Room
Another trend that has gained popularity is renting out personal property for travel accommodations. If you have an extra room in your house or a vacation rental that you don’t use, why not make some extra cash?
With all the different sites out there, there are endless ways to attract potential guests. And when you cross-list the rental space on the most popular sites such as Airbnb, VRBO, Flipkey, and Homestay, you’re more likely to get bookings. By using your money to spruce up the place to make it more appealing, you could create passive income streams with only a $1000 investment.
6. Sell Your Spare Bandwidth
If you don’t want to use your home to generate more income, you could consider selling your bandwidth instead. Many people pay for unlimited data. However, you could sell what you aren’t using to earn money.
Although they function in different ways, you can start generating passive income by installing an app on your phone or PC that runs in the background. People pay to utilize your bandwidth, bringing you more monthly income. Packetstream pays you $0.10 for every GB shared while others such as EarnApp can give you about 30$ a month selling 1GB of bandwidth a day.
Your location, network speed, and the number of IP addresses affect how much you can earn. The more traffic, devices, and IP address you use, the more you earn. However, safety is always a consideration since there are no guarantees of who will be using your bandwidth.
7. Own Royalties
Another alternative asset that is gaining traction among alternative investors is owning royalties. With partial shares and online marketplaces, it’s becoming easier to invest in creative assets. Although you wouldn’t own the copyrights, you could earn a portion of future revenue. When you buy royalties, you earn money every time your intellectual property gets used.
To attract new types of investors, sites such as Royalty Exchange package them into familiar investment vehicles with term-based yields. They perform independently from the stock and bond markets, have a history of strong returns, and have the potential to outperform traditional assets. And now you don’t need to be an industry insider to get in on the ground floor.
Using Time to Your Advantage
Even if you feel you don’t have enough money to start investing, it doesn’t require a fortune to get started. Additionally, the sooner you start investing, the greater advantage you gain. Time and compounding interest are your greatest assets if you’re low on capital. So, you can start making small, steady contributions now that will exponentially increase your initial investment.
There is no “right time” to start investing, so don’t use a low bank balance as an excuse to get started today. Rather than letting your money sit idle, you can use it to help build your retirement savings, protect your family against income loss, and reach your financial goals faster.
Jenny Smedra is an avid world traveler, ESL teacher, former archaeologist, and freelance writer. Choosing a life abroad had strengthened her commitment to finding ways to bring people together across language and cultural barriers. While most of her time is dedicated to either working with children, she also enjoys good friends, good food, and new adventures.
Nowadays, everyone is looking for new ways to earn passive income. For those looking for new opportunities, have you ever considered vending or gumball machines? With low overhead costs and maintenance, they can provide easy side income each month. However, before you jump in, here are a few things you should know when investing in a gumball machine.
The Financial Benefits of Investing in a Gumball Machine
While it may seem unconventional to some, there are several financial benefits to consider when investing in a gumball machine.
Passive Income
First and foremost, buying a gumball machine is an easy way to generate passive income to supplement your monthly earnings. Some owners report that they earn up to $350 a month for a single machine. However, Vending Times magazine gives a more reasonable expectation with the national average of about $1 a day.
Steady Demand
Another reason that a gumball machine is a good investment is due to the steady demand. According to this Statista survey, 173.4 Americans responded that they chew gum. And, 23 million indicated they were habitual chewers (more than 16 pieces a week).
You should also consider that people will always need food and snacks. Therefore, gumball machines offer a cheap option when you need something small.
Low Maintenance and Overhead Costs
Lastly, gumball machines have low maintenance and overhead costs. Once you purchase the machine and products, you only need to refill it. Depending on sales, it could be once a week or once a month. Be sure to track your quarters so you can set a consistent schedule.
The Initial Cost of Investing in a Gumball Machine
So, the big question…how much does it cost to get started? As with most things in life, the answer varies.
The initial cost largely depends on the machine you choose. While basic gumball machines start around $100, they can run well over $1,000. However, this should be the largest expense and a one-time fee since these machines are built to last.
Then, you have to factor in the cost to fill the machine. Candy is relatively cheap, especially when you can buy it in bulk. And, it has a long shelf life (about a year) which gives you more breathing room to sell your inventory.
The price for your inventory varies as well by size, brand, and supplier. But to give you an idea of these costs when investing in a gumball machine, let’s look at traditional gumballs.
One of the most common selections is Dubble Bubble one-inch gumballs. You can purchase 850 of them through Amazon for $40-$50. This gives you a profit of $0.17 per gumball, for a total of $212.50 per box sold. With this profit margin, the machine should pay for itself after selling approximately 600 gumballs.
Even if you don’t choose the most profitable location, you should at least cover the investment costs with enough time. And, the more machines you have, the more you can make.
10 Tips to Maximize Your Gumball Game
If you think that investing in a gumball machine is the right move for you, here are 10 tips to help you maximize your profits and success.
1. Don’t skimp on the machine.
When investing in a gumball machine, don’t be cheap. If you buy a cheaper model or second-hand machine, there’s no way to verify its maintenance history. If they are more prone to jam or break, you may have to invest more money to fix them.
2. The amount you can make all comes down to location.
Remember…location, location, location! If you want to make money, you need visibility. High-traffic locations can bring up to $350 a month while others may not even break $3. But, you are bound to have some level of success as long as it is well placed and people pass by it frequently.
3. Pick a location where people are likely to have change.
Besides location, you need to think like your customers. Which places give coins as change? They need coins to operate the machine, so think of locations where people are more likely to have change on them. Scope out local gas stations, arcades, laundromats, and retail stores for potential placement.
4. Choose the placement based on foot traffic.
Once you have a location, look for places people spend the most time. Try to place your machine near doors, lines, and other places people wait. On the other hand, your inventory is less likely to sell if you put it near restrooms or in a remote corner.
5. Keep the machine well-stocked.
You will also want to make sure your machine is well-stocked. A full machine is much more appealing than one that looks half-empty.
6. Use plastic capsules.
If you use plastic capsules, you can expand your offerings to sell candy as well as small toys. Did you know that some toys are cheaper per unit than gumballs or candy? Not only will it help you capture more profits, but it also gives customers more options and broader appeal.
7. Choose the right product.
You should also pick products people like. If the employees at the location use the machine, get their opinions too. You want to choose things that people want to buy. Don’t waste money ordering products that don’t sell.
8. Partner with a charity.
Partnering with a charity is a great way to garner greater support from location owners. In addition to attracting more business from people who want to support the cause, it could help cover overhead costs.
9. Put your profits back into the business.
If you have one gumball machine that is successful, why not purchase a second one? If you put your profits back into your business, you increase your earning potential. Buying more machines will increase revenue and allow you to scale your business.
10. Hire a locating service.
If all else fails and you are struggling to find a location, you can use a locating service. However, make sure it is a reputable provider. Go online and check customer reviews or ask other business owners for references.
Do you own a vending or gumball machine? What challenges have you come across? Share in the comments below!
Jenny Smedra is an avid world traveler, ESL teacher, former archaeologist, and freelance writer. Choosing a life abroad had strengthened her commitment to finding ways to bring people together across language and cultural barriers. While most of her time is dedicated to either working with children, she also enjoys good friends, good food, and new adventures.
