£60,000 to invest

2

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  • Sapphire
    Sapphire Posts: 4,269
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    Chrismaths wrote:
    I think you've answered your own question - you can't "buy" a savings account, it is cash, which is a means of payment, not an investment. You can't pay for something with a BP share, you have to sell it to create cash, a means of payment. Saving is cash, investing is something else.

    Disagree.

    Savings accounts are sold as 'investment products' to customers (as I know only too well from being harassed by Lloyds Bank for many months to open savings accounts with them, which ultimately made me leave that bank). You also have to 'cash in' your savings as a means of payment, i.e. in order to access the money, as you do if you are dealing in shares. If you put money into a savings account (or ISA) in order to get a percentage interest from it, it is an investment. It's also counted as such when suggesting to people how to 'invest' their money.

    In any case, all this is nitpicking - they are both ways of making money (or sometimes losing it in the case of shares).
  • For me, saving is when you don't expect your original capital to grow, or (unless there is a banking crisis) shrink. (No-one has lost any money in a UK building society since WW 2.)

    Investment is when you expect your capital to fluctuate, hopefully on the upside.

    On this board when people say "save" they mean it
    When they say "invest/save" they mean "save"
    When they say "invest" they can mean "invest or save".

    It's worth keeping the distinction, because it means our hard-working IFA doesn't have to waste his time on the savings threads.
  • EdInvestor
    EdInvestor Posts: 15,749 Forumite
    Investment involves risk to capital.

    Savings means capital is guaranteed.

    The issue has been blurred by both the banks and the media : the absolute worst example is the word "bond" which is applied to numerous products ranging from nil to high risk.

    The misselling associated with the misuse of the term "bond" is IMHO more disgraceful than that related to endowments and pensions, because the victims tend to be retired people who have lost money they cannot easily replace.
    Trying to keep it simple...;)
  • kenshaz
    kenshaz Posts: 3,155
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    Why not answer the question,instead of discussing word meanings
    ICICI for half and Halifax web saver for the other half
    ---almost forgot Minus £3000 each in a national savings ISA--actually if you did that £35000 in ICICI
    Halifax websaver £19000 and of course £6000 national savings ISA
    [FONT=Arial, Helvetica, sans-serif]To be happy you need to make someone happy.[/FONT]
  • dunstonh wrote:
    Which is it though. Investing or saving?

    Saving indicates saving accounts. Investing would involve (usually) risk based products and a longer term.

    At this moment in time, we could list around 10,000 products which could be suitable so we need some help filtering the options and giving you some information.

    Perhaps the word invest was not the best of choices.
    We really are looking to save this money so she has easy access to whatever sums she wants but also an account or accounts that gives the best returns.
  • Sapphire
    Sapphire Posts: 4,269
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    Perhaps 'making money' would be best as a blanket term for everything. :rotfl: :j
  • Savers who keep up with inflation after tax are a minority - outside MSE of course ;). So is it even right to say that they are "making money"?

    Mind you, loads of investors have done as badly or worse over the last six years.

    To Kate
    katieowl wrote:
    I was going to try Woolwich, but they are part of Barclays, where the current account is...so basically the same institution?
    That would solve account opening difficulties & I sympathise with your awkward problem.

    Woolwich do a fixed rate bond for 3 years @ 4.5% (but you're losing a full 1% compared to Skipton BS or Halifax :( ).

    The Woolwich branch saver pays 3.95% on £50K and 4.15% on £100K. Again, quite a significant loss of interest compared to the open market on the sums you're dealing with.
  • hello!

    seeking quick advice! Someone from my family inherited £60.000. He is 55 years old and said he is looking for risky investment. so he has high risk tolerance.

    the money should be invested over 3 years. any suggestions on 2-3 financial products?

    thank you in advance!!

    dave :money:
  • dunstonh
    dunstonh Posts: 116,040
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    davidtopps wrote: »
    hello!

    seeking quick advice! Someone from my family inherited £60.000. He is 55 years old and said he is looking for risky investment. so he has high risk tolerance.

    the money should be invested over 3 years. any suggestions on 2-3 financial products?

    thank you in advance!!

    dave :money:
    3 years = Cash savings unless he really is high risk (potential for say 50-60% loss in 12 months)
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • yes, high risk is emphasized. i was thinking one option - shares of GSK or Kraft?
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