If you are looking to supplement your current income, then investing for income is most likely to be by way of a lump sum which can then be invested in those types of assets which provide a natural and, hopefully, increasing, stream of income. Examples of these types of investments could be fixed interest securities, shares with high levels of dividend income, annuities and high interest deposit accounts.
For those planning for the future, investing in a pension is one of the most common methods of investing for future income needs. Initially, the priority will be to maximise the prospects for capital growth until the income is required and the types of investments that could be considered within a pension could be company shares, fixed interest securities, cash deposits and commercial property, to name but a few. Once the income is required, this is most commonly provided by way of an annuity (although there are other options) which will provide you with a guaranteed income for your lifetime.
The most appropriate type of investment will depend upon your own circumstances and requirements, the prevailing economic environment and your attitude to investment risk amongst other things. With all these factors to take into account, it is important that you seek the advice of a professional impartial adviser. The Fairinvestment.co.uk investment service may be able to help you by putting you in touch with an impartial adviser who is able to:-
- Analyse your circumstances, needs and objectives
- Look at any existing investments that you may have
- Prepare fully considered bespoke recommendations based on your circumstances and what you are trying to achieve
- Access the whole of the market for the most appropriate investment solutions
- Explain the various options available to you and ensure that you understand them
- Go through the necessary paperwork and ensure that this is processed as quickly and as smoothly as possible.
