Short term investments are not an ideal choice for anyone looking to enjoy a good return on investments in the future. This is because even though some of these short term investments may have very high rates of return, their risk of loss is also extremely high. Long term investment is also very ideal in that way you will gain profits as time goes by, enabling you to be financially stable when you go to retirement age or middle age.
One of the best options you can go for is tax free investment. Investing or saving money without paying tax for the interest that you have earned is probably one of the best part on the tax free investment. One of them is the UK tax free bonds. Deposits for the bonds start from as little as ?10 and you can pay up to ?25 a month. The guaranteed payout is probably one of the greatest advantages of a bond. In addition, you get bonuses depending on how well the investment is doing in the market. The payout given at the end is much higher than any high interest bank savings account could earn you. As long as you pay a high number of amount in a month, you will surely receive a high minimum of cash amount at the end of your bond life.
A family should always think of their future since everything is so unexpected, thus, it is advisable that family investments should be high enough in order to suffice the needs of the family in times of financial assistance. You have to keep in mind that the security of your job doesn’t have any assurance and you have to keep in mind that the cash that you have in hand is not enough for you to start any business in the near future. Investing in a money-builder account is one of the best options if you wish to secure the financial status of your dependents. A long term investment account is an investment wherein you will choose a regular premium that you can pay every month. The premiums increase by 20% every year so that by the end of the first five years, you are paying double the amount of premiums you started with. Payment plans start as low as ?10 and go as high as ?100.
If you wish to have high returns, then going for the highest premium is very advisable as long as your income is fit for it. Prosperity plans are another type of family investments that will help secure your future. Your income can also grow since your account can earn an annual bonus.