Top Montreal investments – The Montreal economy looks a lot different than it did just ten years ago. Far from the city of Ã€Louer and unemployment in the 1990s and 2000s, Montreal has become Canadaâ€™s top economic performer as part of a wider Quebec-based boom. Thereâ€™s been growth everywhere, and for many Montrealers, the newfound prosperity is chance to start turning income into investments.
Consider these top local investments to start building your portfolio.
1. Invest in Gold
The best way to turn money into wealth is gold. Everyone can tell that a recession is on its way, so stocks are out of the picture. You could stand to lose a lot of money right off the bat. But that doesnâ€™t mean your savings account is the best place to park your money until thereâ€™s a recovery. You can buy gold instead.
Gold coins are a solid investment. Investment-grade bullion coins are an inflation hedge and a bet against the stock market â€“ and the stock market inevitably takes a dive. Itâ€™s only a matter of time.
The best Montreal coin dealers are online. Online dealers allow you to buy gold in Canada at a lower premium than most local coin shops.
Want to save even more? While the Canadian Gold Maple Leaf is one of the most readily accepted coins in the world, thanks in part to the Royal Canadian Mintâ€™s advanced Bullion DNA technology to prevent counterfeiting, you can buy gold in Montreal for lower prices by focusing on bars. Gold bars are cheaper to make, but the gold is just as valuable.
2. Invest in Montreal Real Estate
With strong population growth and a booming economy, demand is outpacing supply and home and condo prices are going up. For decades, Montreal real estate was pretty fallow ground. Property was cheap and vacancies were high.
Today, Montrealâ€™s real estate market is tightening, and investing in a condo, income property, or home could turn into a profitable long-term investment. Given the story of the real estate market in Toronto and Vancouver, itâ€™s likely that as investors turn their attention to untapped Canadian markets, Montreal will not be far behind. Montreal real estate today is a great value buy. Get it before you get priced out.
3. Invest in Tech Startups
You donâ€™t have to be a Silicon Valley venture capitalist to invest in a tech startup. There are online platforms now that allow individuals to invest in early stage tech startups such as AngelList and SeedInvest. Crowdfunding is a unique way to invest. The risks are high, but so are the rewards.
Keep in mind that if you invest in a tech startup, itâ€™s not going to be an investment you can trade like a stock or a gold coin. Once you put your money behind a company, youâ€™re in it for the long haul. Do your research and invest in a company or a product you believe in.
Get investing. Whether itâ€™s through a safe haven like gold, real estate, or a tech startup, you can take part in Montrealâ€™s continued growth.