One thing that I would always recommend successful business owners do once they are able to is to purchase real estate. If you are smart, it’s one of the few investments that could stay low risk with extremely high reward. Any investment can be considered gambling since there is always a possibility that your investment will lose money rather than gain, with real estate you would be looking at a much longer-term investment. That means the “market” is less volatile and if you are going to make a loss, you can minimize it pretty much immediately.
However, if you are smart (or lucky) and you manage to purchase property in an area that is about to be redeveloped or gentrified, then you are looking at a significantly large increase in your investment quickly. A lot of the initial investment increase will be based on speculation, but that is always the case with most investments too. Once the initial speculation comes in, you will be able to gauge how much of an increase you could see within the next 5 or so years.
Due to real estate being such a significantly long form of investment, the smarter option would be to sell during the speculation stage. You’ll be able to make a profit and you can either immediately reinvest that funds elsewhere, or just use it to enjoy. I would recommend reinvesting it and starting the process over, however. A lot of the time, many of the other property owners within the area are unaware that speculation and inquiries have begun, and you can be the first to inquire on property that is worth more than you could buy it for.
If this is something you are considering, hire a real estate attorney who will be able to walk you through all the relevant steps!