Some (Better) Ways to Invest Your Money
Investing your money is something that everyone should do and that is highly important if you want to make the most of your existing assets. By investing your money you will first and foremost find that you are able to grow your initial pot into a larger sum, and this is of course going to be very beneficial. At the same time though, you will also find that by investing your money you are keeping it away from yourself and this means that you won't fritter it away on day to day expenses. It means ultimately that on a rainy day, or when you come to retire, you will have some money set aside in order to cope.
If you don't have investments then it won't take much to throw you off course. For instance if you suddenly have a large expense because you have a car crash or your house burns down then you might end up in debt. Likewise it will limit what you can do should you want to. There will be no impromptu holidays for instance that you could otherwise have taken out of your savings or big computers, and it will make your retirement a lot less enjoyable which is a shame when you've worked your whole life in order to earn one.
So how can you provide yourself in later life and ensure you are financially secure? Here are some options – all of which are smarter moves than just investing in your average savings account.
Self Managed Super Fund
Using a self managed super fund such as a self managed superannuation means that you and 1-3 other people team together in order to make a fund that you invest in various other things. As trustees of the self managed superannuation it is up to you where you invest the money, and you will get a lot more of the profit from the investments than you would have done from investing in a bank or building society. At the same time, by using a self managed super fund you will get healthy tax rebates – unless it's a success and you should choose to grow your self managed superannuation into a hedge fund – well you never know!
A Swiss annuity comes from the term annual, and this means that you get regular annual pay outs after investing. To invest in a Swiss annuity you simply pay one big lump sum up front, and then as a result you will receive your annual payments. The good news is that as it isn't your money until you get the repayments and because it's off shore, it's safe from a range of taxes as well as little problems like bankruptcy and divorce. That, and being in Switzerland there is very little chance of the financial crisis affecting your savings.
An IRA accounts are a kind of pension scheme that is also a form of asset protection. They are great for avoiding tax and work by using money that is 'after tax'. You can also get self directed IRAs, much like self directed super funds.
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