The first thing most people think of when they have money is to buy a car that reflects their earnings. But this is in most cases, is not the right thing to do in the first instance.
A financial literate person is expected to first invest in some assets that will fetch him enough income to buy the car 5 Times over.
Here are some assets you can invest in to generate more incomes which appreciates highly for you over time:
First, you can invest in gold business. It is crystal clear the gold as a commodity will be scarce in the future and that scarcity is going to drive more demands for golds in the nearest future.
2. Real Estate Investment
You can rent or buy a piece of land, build an hostel and as it is known, land properties don’t depreciates, so it’s a lifetime investment for you.
You can decide to buy an area of land for large scale farming or buy machines and equipment for rentage.
3. Stock Market
You can decide to investment in an individual or corporate companies. This is one of the most guaranteed ways of making more money. You can invest in bitcoin or other cryptocurrencies to generate more incomes for you.
When you acquired a huge amount of money, Buying a Car should not always be the first priority.
You can add to the list any others assets investment you know.