Luxury Investments You Should Make Before You’re 40

luxury investment

As we mature, it is only natural that our taste matures with us. Over time, we come to appreciate the finer things in life. Our tastes become more refined and we begin to follow the ‘less is more’ mantra in the sense that we lose the desire to succumb to the temptations of affordable impulse purchases and become pickier and pickier. We carefully curate our wardrobes and make room for investment pieces that are truly worth it, but we also come to discover that there is a whole universe of smart investments for us to make that go beyond makeup, clothes and accessories. The twenties are for paying out dues, the early thirties are for making a name for ourselves, and as we approach our forties, it’s time to think about the future and play with our hard-earned income, but smartly. So, what are these large investments that one should absolutely make before hitting the 40-year-old mark? Let’s discover.

A home of one’s own

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Buying a home is a huge decision, but one that simply must be made in your late thirties. Living with roommates is endearing in your twenties and renting completely understandable in your thirties, but whether you have a family or living the fabulous single and independent life, it’s time to settle down – at least when it comes to real-estate. This is a huge undertaking, and if you haven’t yet set up your 401k, IRA, or HSA – whatever your preferred method of saving is, we suggest you get to it as soon as possible. This is where roughly about thirty percent of your income will go, if you follow the 50/30/20 rule. If by this time you’re doing quite well, that means that you will be able to save up for your down payment in a timely manner, and if your credit score is good and you haven’t maxed out all your credit cards, you will be able to get a great mortgage rate as well, so start saving as of next month.

Step into the art world

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According to the Knight Frank luxury investment index of 2018, one of the hottest commodities of the year is definitely art. Having at least one great piece of art makes your home refined, speaks volumes of your taste, depth and personality, and it’s a great luxury investment as well, given that great works of art never lose value. If you can’t exactly afford a Picasso, hire an art dealer or consultant to scout galleries for new and emerging artists, snag a painting or two before they become incredibly famous, and hopefully in a few years, the price of the piece will be at least five times what you paid for it. In the meantime, you’ll get bragging right about discovering a hidden gem, as well as something sophisticated to look at every day.

A powerful woman needs a great car

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Not only does owning a car make a statement as to how for you’ve come, it’s also a necessity, regardless of where you live. Of course, since you’re not a man going through a mid-life crisis, something like a Ferrari is definitely not your cup of tea. No, you need something new, shiny and dependable – something along the lines of the new Ford Medium SUV that goes by the name Endura. It’s sleek, medium-sized, comfortable and powerful-looking, the perfect luxury investment car for a strong woman who has great taste. Besides, a car is an absolute necessity as you never know where you’ll need to go, and the last thing you want is asking others for these kinds of favors. The process also involves dealing with banks and loans, but getting a pre-approved loan is the best option, as this gives you the option of negotiating the price instead of the size of your monthly payments.

Style is forever

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A smart woman knows better than to fall prey to every trend. She chooses what goes into her closet wisely, so aside from investing in luxury brand coats, trench coats, pricey cashmere sweaters, designer gowns as well an impeccably tailored pantsuit, a woman of true class will have three priorities in mind – shoes, bags and jewels. When it comes to bags, those that hold an iconic status, such as the original Chanel 2.55 or the Hermes Birkin bag win by a landslide. You will probably have to pull a few strings, get on the waiting list, but this type of investment is almost as worthy as a great piece of art. According to Time magazine, a Birkin is currently a better luxury investment than gold, as its value only increases with time. This bag is a status symbol, the amounts are limited, which only adds to the exclusivity and you want to be in that tiny club. Even if this bag is not your style, owning it means you have truly made it, and even if you haven’t yet, by the time you come first on the waiting list you most certainly will have. Just don’t waste your disposable income on the wrong bags in the meantime and all will be well. As for the shoes, designer ones speak volume of not only your status but your taste, and when you’re a mature woman, you want to be the epitome of impeccable taste. You don’t have to own a hundred pairs of Manolo Blahniks – as we’ve learned from Carrie, this is not the road to home-ownership. Jokes aside, having five to ten pairs of amazing shoes will suffice. You have your entire life to build this luxury investment collection up, but when you start, start with the best.

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