How can fathers possibly predict what’s best for our kid’s welfare especially when it comes to their all-important financial future. It’s not like we have a crystal ball that will guide us down the yellow-brick road. What about a “magic eight ball” that will give us advice like “reply hazy – try again.” While we tell our young children stories about living happily-ever-after, but we’re the grown-ups in this situation and we’ve got to step up our game.
Finding the Wonderful Wizard of Oz, won’t be of much help in the real world on THIS side of the rainbow. As responsible fathers, we always want what’s best for our children’s future from a financial standpoint, but given these uncertain times, political unrest, the fluctuating real estate market, blah, blah, blah, what’s a Dad to do? You might want to think about trading in those Ruby-Red Slippers for some diamonds if you want a better return for your investment buck.
Nowadays, when it comes to finding financial rewards, we’ve got a better chance of being attacked by a shark or struck by lightning than we do striking it rich in the lottery. So how do we contend with this type of uncertainty? There’s so many choices, a myriad of different advice coming to us from all angles, but what about some more solid solutions when it comes to investing in the future?
Are Diamonds REALLY A Financial Best Friend?
The questionable procurement of diamonds came into question lately, but at the same time, similar to investing in precious metals like gold, is dumping money into diamonds an intriguing avenue to an investment payoff or a journey down the rabbit hole? Whether you have a young, beautiful, pretty princess, or a budding pirate on your hands, these precious gems are certainly worthy of a second glance.
Investing in gold can be speculative at best, but diamonds have been offering solid returns on investments that many Dad’s are looking at with a long-term goal in mind like a college fund. As with any type of investment, these avenues come with risks, but when it comes to these sparkly, little stones, the rewards have been consistent over the years.
Stick With The Basics
Before you get overwhelmed with the thought of spending a great deal of money on these often priceless gems, stick to the basics. As a matter of fact, those much larger and more expensive diamonds are rarely traded and sold so your investment dollar is safer on smaller stones. Purchasing anything from a one to a five carat rock or some quality, loose diamonds is a good place to start. Be sure to get only those with good quality on the GIA color scale as your best possible investment choice.
It’s also recommended that you lean towards traditional round or cushion cuts rather than pear or heart-shaped varieties that can go in-and-out of style according to trends. Not to say you shouldn’t stay away from certain cuts in general, but if you’re looking to cash out quickly, depending on what’s in ‘vogue’ at any given time, you could get less than the asking price if it’s not in demand at that exact moment.
Use Technology & Go Online
We have so much technology available at our fingertips nowadays, this is another example of getting the best deal and doing your research on the internet. Compared to traditional brick-and-mortar stores, online retailers have much lower overhead and therefore can offer better deals compared to fully staffed storefronts.
Check On Certification
The non-profit GIA (Gemological Institute of America) gives them an unbiased platform for the grading and certification of these types of stones. Be sure to inquire about this certification before your purchase to ensure you’re getting a diamond of high-quality.
Don’t be afraid to go into unfamiliar territory when it comes to investing in your children’s future. With a steady return on your investment, a strong supply and timeless interest, diamonds could be the cornerstone to your kid’s college education. Do your homework and see if this opportunity could benefit you, your family and your financial future.