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£2k to invest? I’d buy these 2 UK shares today to get rich

If you have £2,000 or any other amount to invest, buying UK shares could be a great option. Buying high-quality stocks at discount prices could even help you get rich over the long run with a regular investment plan.

With that in mind, here are two UK shares that may be worth buying today as buy-and-forget investments. 

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UK shares to buy 

Associated British Foods (LSE: ABF) may be one of the most attractive UK shares to buy right now. The diversified conglomerate does everything from producing sugar to selling discount clothing. This diversification makes the company a relatively defensive investment.

Considering the shaky outlook for the UK economy right now, this is a highly attractive quality. Indeed, as the company’s retail business has suffered over the past few months, its food arm has prospered. 

Associated British’s latest trading update shows that the company is recovering well from the coronavirus crisis, unlike other UK shares. Trading in its Primark fashion stores that have reopened after coronavirus lockdown has recovered well. Cumulative sales for the seven weeks to June 20 were down just 12% year-on-year.

As such, it looks as if the business is well positioned to make a strong recovery over the next few years. City analysts are forecasting a near 50% slump in the company’s earnings for this year, although they expect a strong recovery in 2021.

Considering the company’s track record of outperforming City expectations, this could be a conservative forecast. Therefore, it seems likely that the stock will produce high total returns in the years ahead, which could help investors grow their financial nest-egg when owned alongside other UK shares. 

The stock has turned every £2,000 into £4,400 over the past decade, double the return of the FTSE 100 over the same period.

Admiral Group

Insurance giant Admiral Group (LSE: ADM) has been one of the best-performing UK shares this year. Over the past 12 months, the stock is up a staggering 46%! 

Unlike many other businesses, Admiral may benefit from the lockdown. Less traffic on the roads reduced the number of car insurance claims, which should help the group’s profit margins.

The company’s main competitor, Direct Line, has already announced a bumper first half. That suggests Admiral may see the same improved performance.

Alongside its results, Direct Line also announced that it would be paying a special dividend due to the increased level of profitability. It seems highly likely Admiral will do the same as well.

Indeed, the company has one of the best dividend track records of all UK shares. Over the past few years, management has struck a careful balance between investing in the group’s global operations and returning capital to investors. With profits set to jump, it looks as if this trend may continue in the coming years. 

Based on current projections, the City is forecasting total distributions of 135p from the company this year. That’s equivalent to a dividend yield of 5.3% on a current share price.

When combined with the company’s potential for capital growth, this number suggests that the stock can provide high total returns for shareholders in the years ahead when owned as part of a well-diversified portfolio of UK shares. The stock has turned every £2,000 into £5,000 over the past 10 years.

Did Boris Give This Stock a £50million+ Boost?

On February 3rd, 2020, Boris Johnson made a surprise announcement…

…potentially helping to grow one little-known British company’s revenues by an expected £50million+.

You probably saw this announcement in the news. But we bet you’ve never heard of the company which we believe could profit.

Get the full details here – while you have time.

Rupert Hargreaves owns shares in Admiral Group. The Motley Fool UK has recommended Admiral Group and Associated British Foods. 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.

Our 6 'Best Buys Now' Shares

The renowned analyst team at The Motley Fool UK have named 6 shares that they believe UK investors should consider buying NOW.

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