How adventurous are you? No, we’re not referring to your propensity to rock climb or skydive. If you’re earning more than $50,000 and are looking for interesting and effective ways of utilizing your paycheck, it’s important to have an open mind regarding the opportunities you have to help make your money work for you.
Having a sense of “adventure” can mean more than just lifestyle choices. When considering where your money goes on a monthly basis, do you try to make the most of your earnings? It’s 2020 and anything is possible, why not try some unconventional means of investing your money?
In the spirit of pragmaticism and imagination, we’ve found three unconventional things you could think about if your salary is more than $50,000.
1. Purchase Domain Names
Who needs the latest and greatest piece of real estate, stock or bond when you can own an exceptionally sought after domain name? The amount of effort it takes to purchase a domain name and maintain the domain is almost laughable, anyone can do it! Many top-level domains can be purchased for less than $1,000 and depending on domain demand, flipped for thousands of dollars.
For starters, the trick to purchasing top-level domains is being able to predict what might be the next hot topic. So if there’s a new fashion fad, foodie craze or meme setting the internet ablaze, be ready to hit the internet in search of top-level .com, .net or .info domain names.
2. Leave Your Family Millions In Minutes
Life is dynamic and on occasion, uncertain. So, what can you do to stay ahead of financially unpredictable times? If you’re earning $50,000 or more per year we suggest purchasing financial protection in the form of term life insurance.
What’s the deal with the “term” in “term life insurance”? Know that term life insurance protects you for a specific period of time. The typical coverage periods are 10, 20 or 30 years in length. Our term life insurance solution of choice is Bestow.
Why should you choose Bestow?
Decisions on policies are lightning-fast. Bestow is an industry leader in the speed of service. The process of applying and receiving a new policy can be completed in as few as 20 minutes. Even better, you don’t need a medical exam to be a policyholder!
Their coverage amounts goes up to a million dollars. You can quite literally leave your family a million with a life insurance policy offered by Bestow. Of course, you can pick whatever coverage amount you’d like, up to one million dollars and your monthly premium could be as low as a few dollars a month.
You don’t have to take a medical exam. This is a major bonus! No needle pokes, no mouth swabs, no DNA testing. Just answer a few questions and you could be on your way to financial protection.
If you’re interested in seeing if you qualify for a no medical exam term life insurance policy, visit Bestow now.
3. Invest In Timber
We know this sounds super random but hear us out. Investing in timber can be a great, long-term financial growth strategy for anyone earning $50,000 or more. You’ve heard all the potential benefits of investing in real estate, as well as land in general, but rarely do you hear how to make use of the minerals and natural resources that can accompany the purchase of land. It’s one thing to purchase land as an investment proposition but another to make use of the land in both a sustainable and profitable journey.
Utilizing timber is something Harvard has been doing for decades. Don’t have the 40.9 billion in endowment Harvard had at their disposal in 2019? You can start small and build your way up.
Timberland is a renewable resource, meaning when properly maintained timber just keeps growing and growing. The opportunity for continuous yields over the course of farming is limitless. You’ll need some patience when it comes to harvesting new timber farms; as the window for trees to fully mature can take an average of 10 to 30 years. But believe us, this investment is worth the wait!
The Time Is Now
While rewarding yourself with vacations and shopping sprees is always fun, think outside the box every now and again. Try these ways to make your paycheck work for your future self. The fact that you’re earning $50,000 annually gives you latitude in financial decision-making.
You’re the CEO of your own life! Deviating from the conventional means of investing isn’t for everyone but like anything, it’s great to have perspective on the opportunities that can move you and the people in your life forward. Lead the way and take your first step in unconventional investing.
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