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What is the best investment option if the aim is to generate a monthly income?

If someone in their early 60's is looking to invest a lump sum with the aim to get the highest possible monthly income (to supplement their pension for example), what would be the best possible investment to consider?

Public Comments

1. property even international property with an exchange rate in your favour. Plus you will get a tax deductable trip once a year to examine your investment :-)
2. It depends how risk averse you are and how much you have to invest. If security is your first concern then a bank bond would work ...Birmingham Midshires is right now paying 6.9%...(I think this is the best in the country right now)....If you want a monthly income the rate goes down to 6.5%. If you want security you should stay away from any exchange rate based investments or shares. And UNDER NO CIRCUNSTANCES put your money on property...
3. buy to let in property , east london !
4. buy cheap rental properties, good rental return and in the long run property prices increase
5. I would say annuities would be the best investment for this person. Gives an OK rate of return while allowing monthly cash flow to the investor. Variable or non variable annuities are created for this purpose.
6. When investing for a monthly income, there are a number of factors that need to be considered including, but not limited to risk, protecting the capital, the amount invested, variability of the income and so on. If you are prepared to take some risk with your capital, then a portfolio of shares, corporate bonds and/or property could be one option to look at. The main concern you may have, however, is placing your capital at risk; you need to consider your risk profile in light of turbulent and uncertain times on the stock market, particularly when you are trying to derive an income from the funds. Perhaps if you are unprepared to take risks, then you will want to see about protecting the capital. Furthermore you are likely to want to derive a regular sized income from this fund. This is often achieved by using a portfolio bond which cancels units in your investment bond to achieve the desired level of income. However this can cause your capital to erode if the income and growth generated is not as great as the income level selected. Finally, the larger the investment you make, may allow you to spread your investment wider, allowing you to achieve a much greater diversification in funds, which could facilitate taking the natural income from funds as it arises. This may then help to preserve your capital, allowing a more sustainable income stream to be achieved in the longer term. In any case, you should really seek independent financial advice to allow you to benefit from their experience and of course the protection this bestows upon you.
7. Hello! I know a good variant. The highest possible monthly income is 2.5%-3%. Minimal initial deposit is $10,000. I'm not a financial guru, but I am getting 40%-50% annual interest. I can help you to invest your money in a way that best suits your needs. You need to be careful if you do not want to be scamed, and lose your money. E-mail me more information about your plans and needs, and I'll give you advice. Check my profile. Good luck! Lucky AL
8. Annuities