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10K to invest - please advise best options.

ed2712
ed2712 Posts: 211 Forumite
in Savings & investments
Hi

I have 10K to invest, which i do not need access to and im just wondering if anyone could pleae advise me on best place to put it. I have 2 children so am wanting to put it away for them until they are older.

Thanks for reading.

Comments

  • zzzLazyDaisy
    zzzLazyDaisy Posts: 12,497 Forumite
    Part of the Furniture Combo Breaker
    Can I ask you if you are thinking about investing in the stockmarket, or putting the money in a bank account (or asking for information about either option)?
    I'm a retired employment solicitor. Hopefully some of my comments might be useful, but they are only my opinion and not intended as legal advice.
  • G_M
    G_M Posts: 51,977 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    If the children are young and you're planning 10/15 years, then no question, look at investing it (the markets, not savings accounts).

    Unit or Investment trust funds are probobly your best option, in an ISA wrapper if keeping it in your name (and assuming you are a tax payer) as in an ISA there's no tax to pay on the profit.

    Put it in several different funds ie across various geographies (UK, emerging markets, Europe etc) and several different sectors (retail, commodities, banking, etc). That way, if one does less well, the others will compensate.
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