Lock up cash (not daughter)

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21 year old daughter in final year at Uni wants £10,000 to outperform cash. Happy to lock up for long term (cash not daughter)
Advice please?

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  • atush
    atush Posts: 18,726 Forumite
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    Well she could invest it, but we would need to know if there way ANY chance she would need it sooner. If her only 10K I would not invest it all, as then you might have to sell at the wrong time if money was needed (such as just after a market crash/correction and before any rebound).

    So really making suggestions w/o knowing this is unwise.

    I would also ask is it needed in ten years, or is any going to be even longer term (such as pensions) and is she working? Does she pay tax? does she have any debt?

    Opening a S&S isa, and investing some of it into funds, maybe other things too such as individual shares?

    But the first thing I'd do is have her learn about investing. Read boards such as the Motley Fool, here, others. REad books such as Smarter Investing by Tim Hale. Think about what she knows and likes as a consumer and where she spends her money, where she thinks she will spend in 5 years time. Learn about the world economy (read the economist magazine like my 21 yr old does) read broad sheet newspapers business sections etc.
  • Jegersmart
    Jegersmart Posts: 1,158 Forumite
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    21 year old daughter in final year at Uni wants £10,000 to outperform cash. Happy to lock up for long term (cash not daughter)
    Advice please?

    she won't need it for fees?

    J
  • Polly_Sparky
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    fees paid by student loan, won't have to start paying it back until she starts earning a decent salary or as she is planning - not atall as she plans to work abroad !!
  • Polly_Sparky
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    atush wrote: »
    Well she could invest it, but we would need to know if there way ANY chance she would need it sooner. If her only 10K I would not invest it all, as then you might have to sell at the wrong time if money was needed (such as just after a market crash/correction and before any rebound).

    So really making suggestions w/o knowing this is unwise.

    I would also ask is it needed in ten years, or is any going to be even longer term (such as pensions) and is she working? Does she pay tax? does she have any debt?

    Opening a S&S isa, and investing some of it into funds, maybe other things too such as individual shares?

    But the first thing I'd do is have her learn about investing. Read boards such as the Motley Fool, here, others. REad books such as Smarter Investing by Tim Hale. Think about what she knows and likes as a consumer and where she spends her money, where she thinks she will spend in 5 years time. Learn about the world economy (read the economist magazine like my 21 yr old does) read broad sheet newspapers business sections etc.

    She's in her final year so no time to start studying to be a financial wizz at this time !! That's why we're asking for advice here. Thanks!
  • Jegersmart
    Jegersmart Posts: 1,158 Forumite
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    fees paid by student loan, won't have to start paying it back until she starts earning a decent salary or as she is planning - not atall as she plans to work abroad !!

    (^.^)

    j
  • atush
    atush Posts: 18,726 Forumite
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    She's in her final year so no time to start studying to be a financial wizz at this time !! That's why we're asking for advice here. Thanks!

    Always time to learn, as she may have to change her investments in future.

    If she has no time (or is too lazy), then Monkey with a pin perhaps. Might be better than asking for share tips off complete strangers on the internet.:eek:
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