Well, not lazy as such, but certainly investors who are already busy and need a more efficient and expedient way of making their money grow…
The good news is that you don’t have to pore over the financial papers for hours any more, make phone calls to place trades, spend hours rebalancing your portfolio in response to world events and, well, just work on it. There are so many ways now for people to create new income streams that might not always be huge, but which can add up to a pretty penny when combined with other solutions or with a main job.
Take a look at four of the best.
Buy some precious metals
It’s hasn’t been such a good time to buy precious metals for a while now. An uncertain economic outlook makes hard, tangible assets like silver, gold, platinum and palladium look very reliable and so even more attractive than usual. Head to Golden Eagle Coin to explore your options and to find out how much bling (or bullion) you can get for your buck.
Once you’ve taken delivery of your metal and stored it securely, all you need to do is sit back and wait for it to increase in value, then sell some or all of it for a tidy profit.
Using an online trading platform
These platforms are managed mainly by virtual advisors, although they should all have humans for you to talk to as well. They use algorithms to work out your best bespoke portfolio, depending on your interests, ethics and risk appetite.
Many of these online platforms also feature commission-free ETFs which are low-fee and tax-efficient. The best thing about them is probably the fact that rebalancing and diversifying is taken care of by the human and virtual advisors – for a fee, but only a small fee.
Your input can be limited to just explaining your timespan, your risk tolerance, aims and age, and whether you’re a conservative, adventurous or aggressive sort (in investing terms, obviously…).
These are also known as life-cycle funds and they are made up of passively-managed and actively-managed mutuals. The aim is to give the investor a well-balanced portfolio that graduates from riskier growth stocks towards more stable and safer stocks as you get nearer to the target date. You set this target date – it could be retirement, or the kids going to college – and as you approach it, your fund becomes more conservative and risk-averse, but also less likely to tank suddenly.
A lazy portfolio
There’s that word again! So what? Who said it has to be hard?
These portfolios have several handpicked ETFs or mutuals that cover a lot of bases both domestic and worldwide. They’re very low-cost and aim to deliver consistent returns even if they’re not going to set the world on fire.
You can choose usually from two to ten funds and then tinker with the balance a little bit in response to market events, especially if your less-represented sectors suddenly experience a surge.
Of course, no investment vehicle can promise to make you a fortune, but the aim of lazy, sorry, time-efficient, investing is to set the vehicle up then pretty much leave it to do its thing. Perfect.