Investing in luxury watches can be a memorable way to mark life’s milestones, but “Shark Tank” star Kevin O’Leary advises against borrowing money for them. He suggests starting with affordable options like Grand Seiko or Tudor and splurging when something good happens. However, luxury watch prices have fluctuated recently.

Gold has long been a reliable asset for wealth preservation, especially during economic uncertainty. Unlike watches, gold’s value isn’t dependent on trends or collector demand. Ray Dalio, founder of Bridgewater Associates, emphasizes gold’s importance in a diversified portfolio as it offers protection during tough times. Gold prices have risen over 35% in the past year.

Real estate is a strong asset for generating passive income, even during economic downturns. Warren Buffett views real estate as a productive, income-generating investment. Platforms like Arrived allow easy access to real estate investing without the hassle of landlord responsibilities. Crowdfunding platforms like Arrived offer exposure to income-generating real estate assets.

Investing in art has traditionally been for the ultra-wealthy, but platforms like Masterworks make it accessible to all. By investing in shares of blue-chip artwork, investors can benefit from art appreciation. With successful exits and profits for investors, Masterworks offers a simple way to invest in high-end art without the complexities.

Read more at Yahoo Finance: Are luxury watches a ‘good investment’ or ‘stupid flex’? Kevin O’Leary sets the record straight on their worth