Let’s face it, the only way to ensure a financially secure retirement is to generate wealth during the working part of our lives and one look at state pensions tells you that simply isn’t enough. Whatever your current age, creating a wealth generation plan is the best way to ensure a stress-free retirement and with that in mind, here are a few solid long-term investments to help you find the best possible options.
1. Consider Buying Property Abroad
If you invest in a luxury villa in the south of Thailand, for example, you can ask top dollar rentals during the high season and let the property out to a resident expat long-term during the low season.
The benefits? You can holiday for free when the villa is empty, which is a very tempting proposal. Hire a local property management firm, and they will look after the asset when you are not around while also carrying out essential repairs.
Alternatively, you could also buy property in the UK as an overseas buyer.
According to property investment company RWinvest, the aftermath of the pandemic has left the UK property market in a rather exciting position – with 2021 recorded as being one of the highest overall price growths for the country in 15 years. As forecasts appear to be predicting a similar trend across the next couple of years, it seems like UK property investment could be a rather lucrative venture ideal for both overseas and home investors.
2 .Purchase a Yacht
If you buy a boat from a top yacht brokerage, your asset can be chartered out all year round. Of course, there are heavy duty maintenance costs with a yacht and the broker offers these services, along with mooring and sourcing a crew. You should crunch the numbers and see whether or not you have the finances for such an investment; the benefits include the ability to take a luxury floating holiday anytime you feel like it. Be sure to look into the history of any second-hand yacht that you are thinking of buying and the broker can source suitable vessels. Click here for details about group chartering superyachts.
3. Invest in a Growing Tech Startup
Of course, you have to choose very carefully, and if you do find the right company that is looking for venture capital, you can make a lot of money. Look at small businesses involved with machine learning that are seeking funding and carry out some extensive research on the owners. The benefits of having partial ownership of a tech company would include the ability to acquire products like mobile apps to power one of your businesses and having experts to advise you on all aspects of tech development.
4. Serviced Offices
You could either buy or lease some office space and offer serviced offices to small businesses at affordable rates; there is a huge market for shared office space from the many tech startups that are emerging. This is a long-term investment and its anyone’s guess what commercial office space will cost in a few years from now. If you purchase the property, this will be a very valuable asset as the years roll by; consult with a good business lawyer to find out the details of becoming a commercial landlord. The benefits of this are many; you can use the empty space for your own ventures and outsource office work to your tenants, who would offer you a discount.
5. Forex Trading
There is a lot of learning and research to carry out if you are thinking of trading Forex. Start by joining forces with a reliable Forex broker and if you make money, so do they! You can take advantage of their amazing software and when you think you know enough, start out on your own. You might end up in Hong Kong with your own trading company one day, who knows? Benefits include an insight into the world of currency exchange, skills that will be with you all of your life and can be applied to other trading commodities.
When looking at investments, you need to balance the risk and reward of every opportunity and with the help of investment professionals, you can develop a portfolio that will generate the wealth you need in order to enjoy a long and happy retirement.