Real assets
Assets · ReturnTangible assets with inflation protection. A combination of ongoing income (rent, lease) and long-term appreciation.
Typical positions:Rented-out property · own home (current value) · forest · farmland · precious metals (gold, silver – physical)
Return (long-term planning value):~4.5% p.a. – a blended value of rental yield + appreciation. The range of real long-term returns is wide: rented properties with positive cash flow ~4–6%, an owner-occupied home without rental income only ~1–2% real (pure appreciation). Physical precious metals generate no ongoing income; gold long-term ~1–2% real with high volatility. The 4.5% planning value is therefore rather optimistic for an own home and gold.