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  • FIRST POST
    • locko
    • By locko 15th Mar 17, 7:25 AM
    • 2Posts
    • 1Thanks
    locko
    19 years old and have 20,000 to invest
    • #1
    • 15th Mar 17, 7:25 AM
    19 years old and have 20,000 to invest 15th Mar 17 at 7:25 AM
    Hello, I am looking for a little advice. I am 19 years old and have £20,000 to invest. What would you recommend as the best thing to invest in, that will give me the best return?
    I have been looking at premium bonds and ISA's. I want to invest in something which i know is safe and my investment will not be at risk. Any advice or suggestions are much appreciated.

    Thanks
Page 1
    • justme111
    • By justme111 15th Mar 17, 8:05 AM
    • 2,878 Posts
    • 2,764 Thanks
    justme111
    • #2
    • 15th Mar 17, 8:05 AM
    • #2
    • 15th Mar 17, 8:05 AM
    Familiarise yourself with terminology. "Invest"=risk. No risk=save. Bank accounts (nationwide £2500 at 5%, BoS 3 accounts of £5000 each at 3% , TSB account £1500 at 3%. Sorted.
    • xylophone
    • By xylophone 15th Mar 17, 10:01 AM
    • 23,647 Posts
    • 13,778 Thanks
    xylophone
    • #3
    • 15th Mar 17, 10:01 AM
    • #3
    • 15th Mar 17, 10:01 AM
    Bank accounts (nationwide £2500 at 5%, BoS 3 accounts of £5000 each at 3% , TSB account £1500 at 3%. Sorted.
    If he is accepted for the accounts.......and he needs 2 DDs for each BOS ( though this can be sorted out by using savings accounts which permit "pulling" by DD from the current accounts).

    Otherwise the OP can look here..

    http://www.thisismoney.co.uk/money/article-1583859/Best-savings-rates-General-savings-Internet-branch.html
    • TheTracker
    • By TheTracker 15th Mar 17, 10:11 AM
    • 1,129 Posts
    • 1,120 Thanks
    TheTracker
    • #4
    • 15th Mar 17, 10:11 AM
    • #4
    • 15th Mar 17, 10:11 AM
    I'd invest in my career, education, life experience (i.e. Fun), putting some away for rainy days and an eventual mortgage deposit. I wouldn't go near the stock market.

    ISAs are merely tax wrappers, not investments.

    Premium bonds are low risk low return gambles.
    Last edited by TheTracker; 15-03-2017 at 10:13 AM.
    • fabsaver
    • By fabsaver 15th Mar 17, 10:34 AM
    • 842 Posts
    • 1,345 Thanks
    fabsaver
    • #5
    • 15th Mar 17, 10:34 AM
    • #5
    • 15th Mar 17, 10:34 AM
    Assuming you want to buy a property at some point in the future, then the 25% bonus on Help to Buy ISAs and Lifetime ISAs should not be ignored. Have a read of the relevant pages in this site:
    http://www.moneysavingexpert.com/savings/help-to-buy-ISA
    http://www.moneysavingexpert.com/savings/lifetime-ISAs?

    Act quick and you can open a Help to Buy ISA before 5th April 2017. It can then be transferred into a Lifetime ISA when they become available.
    • jimjames
    • By jimjames 15th Mar 17, 1:03 PM
    • 12,237 Posts
    • 10,772 Thanks
    jimjames
    • #6
    • 15th Mar 17, 1:03 PM
    • #6
    • 15th Mar 17, 1:03 PM
    I wouldn't go near the stock market.
    Originally posted by TheTracker
    Although part of that money in a pension would be a tidy sum when it comes to retirement. Starting early does still pay off with compounding.
    Remember the saying: if it looks too good to be true it almost certainly is.
    • jdw2000
    • By jdw2000 15th Mar 17, 3:19 PM
    • 415 Posts
    • 109 Thanks
    jdw2000
    • #7
    • 15th Mar 17, 3:19 PM
    • #7
    • 15th Mar 17, 3:19 PM
    I'd invest in my career, education, life experience (i.e. Fun), putting some away for rainy days and an eventual mortgage deposit. I wouldn't go near the stock market.

    ISAs are merely tax wrappers, not investments.

    Premium bonds are low risk low return gambles.
    Originally posted by TheTracker
    Good luck with your pension!
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