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Forget Bitcoin! I’d buy cheap FTSE 100 shares right now to get rich and retire early

first_img Enter Your Email Address “This Stock Could Be Like Buying Amazon in 1997” Our 6 ‘Best Buys Now’ Shares Matthew Dumigan | Sunday, 10th May, 2020 Forget Bitcoin! I’d buy cheap FTSE 100 shares right now to get rich and retire early Image source: Getty Images Renowned stock-picker Mark Rogers and his analyst team at The Motley Fool UK have named 6 shares that they believe UK investors should consider buying NOW.So if you’re looking for more stock ideas to try and best position your portfolio today, then it might be a good day for you. Because we’re offering a full 33% off your first year of membership to our flagship share-tipping service, backed by our ‘no quibbles’ 30-day subscription fee refund guarantee. Click here to claim your copy now — and we’ll tell you the name of this Top US Share… free of charge!center_img With the stock market crash causing share prices to plummet across the board, many investors have been tempted to look elsewhere to build wealth.Over the past month, the price of Bitcoin has surged by around 27%, massively outperforming the FTSE 100 index. Although I expect this could continue over the short term, in the long run, I think cheap FTSE 100 stocks offer a better, and much safer, prospect of wealth creation.5G is here – and shares of this ‘sleeping giant’ could be a great way for you to potentially profit!According to one leading industry firm, the 5G boom could create a global industry worth US$12.3 TRILLION out of thin air…And if you click here we’ll show you something that could be key to unlocking 5G’s full potential…When share prices are especially volatile, it can be easy to start doubting the stock market’s ability to bring long-term capital growth. But don’t lose heart, the market always recovers and more often than not, rebounds to make new highs.The appeal of cryptocurrenciesMuch of the attention that virtual currencies receive is around their supposed ability to make you money quickly. I’m sure you’ve heard the stories of people becoming millionaires practically overnight from their savvy investments in Bitcoin.Though this is entirely possible, it’s also true that you could lose that money just as quickly as you gained it. Exponential increases and decreases in the span of just weeks or months are a regular occurrence in crypto markets.A quick glance at Bitcoin’s price chart illustrates this strikingly. The volatile swings upwards and downwards demonstrate a price that is purely based on investor sentiment, rather than any form of intrinsic value.Truth be told, it’s impossible to determine Bitcoin’s prospects. In my view, its potential to replace traditional currencies seems low. To ever be used on a large scale, an overhaul of monetary systems around the world would be required.Ultimately, spending money on a speculative asset doesn’t appeal to me. I think there are better ways to get rich and retire early.Cheap FTSE 100 shares  Speaking of which, I think investing in cheap FTSE 100 shares offers the prospect of financial freedom over time.The stock market sell-off has left many FTSE 100 shares trading below their historic average valuations. As well as indicating a wide margin of safety, I think this presents an ideal opportunity for investors to grab a few bargains.In my eyes, there’s a large amount of choice regarding cheap FTSE 100 shares at the moment. Personally, I’m keeping my eye on a handful stocks. These include Taylor Wimpey, Imperial Brands Group, Unilever, Aviva, and Royal Dutch Shell.Opportunities to buy cheap shares are usually few and far between for investors. The last time a sell-off happened on a similar scale was during the aftermath of the 2008 financial crisis. With that in mind, I wouldn’t pass up on the offer of buying bargain shares today.Hold for the long termOnce you’ve cashed in on some cheap FTSE 100 shares, I recommend holding them for the long term. Investors who do so almost always fare better than investors who try to time the market and make a quick sale.Moreover, riding out the temporary market downswings usually generates better returns over the long run. Remember, selling low crystallises a loss. Whereas, holding for the long term allows time for the market to recover and for your investments to bounce back.Ultimately, I think buying cheap FTSE 100 shares and holding them for the long term is a superior way of boosting your chances of getting rich and retiring early. I’m sure you’ll agree that’s quite the statement from Motley Fool Co-Founder Tom Gardner.But since our US analyst team first recommended shares in this unique tech stock back in 2016, the value has soared.What’s more, we firmly believe there’s still plenty of upside in its future. In fact, even throughout the current coronavirus crisis, its performance has been beating Wall St expectations.And right now, we’re giving you a chance to discover exactly what has got our analysts all fired up about this niche industry phenomenon, in our FREE special report, A Top US Share From The Motley Fool. Simply click below to discover how you can take advantage of this. I would like to receive emails from you about product information and offers from The Fool and its business partners. Each of these emails will provide a link to unsubscribe from future emails. More information about how The Fool collects, stores, and handles personal data is available in its Privacy Statement. Matthew Dumigan has no position in any of the shares mentioned. The Motley Fool UK owns shares of and has recommended Unilever. The Motley Fool UK has recommended Imperial Brands. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. See all posts by Matthew Dumiganlast_img read more