If you want to expand your portfolio, it's time to explore oil investments. Oil investments have a history of performing well, though like any commodity, they do experience natural price fluctuations. When you are ready to add oil investments to your portfolio, here are three options to explore.
1. Purchase Individual Oil Stocks
One way to begin investing in oil is to purchase stock in an individual oil company. When deciding which stock to purchase, take into account multiple factors, like the company's debt load, its profit over the past few years, and whether or not it issues regular dividends to its investors.
You may already know about how to use IRAs and 401Ks to help plan for retirement, but these are not your only options. In fact, the more diversified your retirement investments are, the more cushion you can provide against potential losses should the market turn south. Here are a few options to consider that go beyond traditional IRA and 401K accounts.
Real estate can be a great investment at any age, but for people about to retire, it can yield monthly income you can rely on to help cover your expenses and then some.