Beautiful art may look like a picture-perfect way to draw a return on revenue.
Or maybe the glitter of gold has caught your eye.
The risky business of buying stocks and shares can certainly add a flutter of excitement if you’re hoping for some capital gains.
With interest rates continuing to hobble along with little satisfaction for savers it is no wonder that cash savvy earners are looking for alternative ways to reap benefits from their funds.
But there is one investment route that has proven time and time again to offer a beneficial return on your money – and that is good old fashioned bricks and mortar.
According to independent research by CensusWide, commissioned by developer SevenCapital, the top five things people want to invest in are:
Land 20.9 per cent
Gold 19.6 per cent
Stocks 15.8 per cent
Shares 15.5 per cent
A successful property investment can see you increase your wealth over time through capital appreciation – as the price of your property increases, as well as generate a regular income through monthly rental yields, with limited extra work required on your part.
This means property investments can contribute significantly in helping you to plan for the future – growing wealth to create sufficient funds for your retirement and later years.
It can also be considered an investment to help provide security for your family – growing wealth so that they are looked after during your lifetime or in future when you leave them behind.
A common perception is that you’ll need around two-thirds of your final salary income per year to live on in retirement.
So if you plan to spend around 30 years in retirement and you earn £60k as your final salary, you’d need to have saved:
60,000 x 2/3 x 30 years = £1,188,000.00
If your final salary income is likely to be lower, for example, £30k, the amount you’d need to have saved would be:
30,000 x 2/3 x 30 years = £594,000
When you consider that the new state pension, if you were eligible for the maximum amount of £164.35 per week, would only deliver £256,386 over that time, there’s a lot of savings that still need to be generated.