Forget gold! I’d buy these 2 cheap FTSE 100 stocks today to achieve financial freedom

These two FTSE 100 (INDEXFTSE:UKX) shares seem to offer long-term total return potential, in my opinion.

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The gold price may have risen to its highest level since January 2013 due to investor fears surrounding coronavirus, but now could be the right time to buy FTSE 100 shares for the long run.

In many cases, they appear to offer good value for money and improving long-term financial prospects. And, with the FTSE 100 having recovered from all of its previous downturns, its potential to bounce back from present challenges seems to be high.

With that in mind, here are two FTSE 100 shares which appear to offer wide margins of safety. They could be worth buying in a Stocks and Shares ISA today.

Barratt

The recent half-year results from Barratt (LSE: BDEV) highlighted that its trading conditions have continued to be robust despite Brexit-related uncertainty. The housebuilder reported a 9.1% increase in completions versus the prior period, while its pre-tax profit was 3.7% higher than the first half of the previous year.

Looking ahead, Barratt is forecast to post a rise in its bottom line of 4.5% next year. Since it trades on a price-to-earnings (P/E) ratio of 11.3, it seems to offer good value for money.

Clearly, there are risks facing the UK economy at present. But with consumer confidence having improved over the past couple of months and interest rates expected to remain close to historic lows over the coming quarters, the stock could deliver an improving financial performance which enables it to produce capital growth.

As such, now may be the right time to buy a slice of it while investors continue to adopt a cautious stance towards the wider housebuilding sector.

Morrisons

The retail sector is another industry where investor sentiment is relatively weak. For example, Morrisons (LSE: MRW) trades on a P/E ratio of just 13.1 following its share price decline of 22% in the last year.

With competition in the supermarket sector high, and shoppers increasingly purchasing groceries online, the industry faces a period of change and uncertainty. This could limit the prospect of profit growth for Morrisons, although it’s currently expected to post 6% earnings growth in the current year and next year.

The retailer is set to benefit from its disciplined approach to costs. They could help to maintain its competitiveness at a time when consumer confidence is weak despite its recent surge. Furthermore, Morrisons’ plan to grow its wholesale operations could positively impact on its overall performance, while its online investment may pay off through rising sales and profitability in the long run.

Although the wider retail sector may remain unloved among investors over the coming months, Morrisons seems to offer good value for money given its growth prospects. It could offer recovery potential after a difficult 12-month period for its share price, and may help to improve your long-term financial prospects.

Should you invest, the value of your investment may rise or fall and your capital is at risk. Before investing, your individual circumstances should be assessed. Consider taking independent financial advice.

Peter Stephens owns shares of Barratt Developments and Morrisons. The Motley Fool UK has no position in any of the shares mentioned. 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.

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