Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@. Skimlinks & other affiliated links are turned on

Search
  • FIRST POST
    • IceTry
    • By IceTry 17th Jun 17, 7:35 PM
    • 17Posts
    • 3Thanks
    IceTry
    Where to put 250,000 life savings?
    • #1
    • 17th Jun 17, 7:35 PM
    Where to put 250,000 life savings? 17th Jun 17 at 7:35 PM
    My 80 year old mother has recently told me she has above life savings (plus her own small flat). She has kept them all in one bank so far!

    I told her she needs to take some steps to spread the risk, especially taking into account the FSCS savings compensation limit of 85K per institution. Also, I have considered advising her to put her money in different kinds of account. Her aim is to minimise her risk but create some return as well.

    How about splitting it four ways? Does that sound like a reasonable idea?

    1. Basic Savings accounts 75K
    2. Investment account(s) 75K
    3. Premium Bonds 50K
    4. ISAs 50K

    But (a) have I missed something?! (b) any suggestions for Investment accounts (we really are babes in the wood here)?

    Any advice really appreciated!

    Thank you.
Page 2
    • eskbanker
    • By eskbanker 19th Jun 17, 3:56 PM
    • 4,770 Posts
    • 4,507 Thanks
    eskbanker
    I always recommend Dolphin Trust as a good investment, they renovate Grade II listed buildings and convert them into apartments to sell off.

    You get 10% returns per annum and you get your original money back after the chosen term (2 or 5 years)

    The only problem is you can't invest directly with them, you need to use an agent.
    Originally posted by xunil
    That's not the only problem of course - there is also the small matter of how completely inappropriate the recommendation of an unregulated investment would be to the 80-year old looking for safety and security....
    The Dolphin Trust GmbH investment opportunity is an unregulated investment. This means that when clients choose to avail of this opportunity, they are investing in a scheme that is not authorised or approved within the United Kingdom by the Financial Conduct Authority (FCA). Clients do not have the protection of the FCAs Financial Services Compensation Scheme or access to the Financial Ombudsman.
    • xunil
    • By xunil 19th Jun 17, 4:12 PM
    • 2 Posts
    • 2 Thanks
    xunil
    That's not the only problem of course - there is also the small matter of how completely inappropriate the recommendation of an unregulated investment would be to the 80-year old looking for safety and security....
    Originally posted by eskbanker
    I'll let the OP judge if it was inappropriate or not. Doing anything with your cash is a risk - regulated or not.
    • HappyHarry
    • By HappyHarry 19th Jun 17, 4:18 PM
    • 337 Posts
    • 402 Thanks
    HappyHarry
    I always recommend Dolphin Trust as a good investment, they renovate Grade II listed buildings and convert them into apartments to sell off.

    You get 10% returns per annum and you get your original money back after the chosen term (2 or 5 years)

    The only problem is you can't invest directly with them, you need to use an agent.
    Originally posted by xunil
    Mum might want to consider a financial insurance policy - gold, the real stuff, in her own possession.
    Originally posted by Carrieanne
    Is this thread some kind of feeding ground for high-risk recommendations? Is the poster for London & Capital about to throw their (unwanted) oar in too?

    The OP said
    Her aim is to minimise her risk but create some return as well.
    Cash deposits, NS&I and a possible entry into a low-risk, regulated, diversified fund is about all that should be mentioned here. Not unregulated high-risk investments!
    I am an Independent Financial Adviser. Any comments I make here are intended for information / discussion only. Nothing I post here should be construed as advice. If you are looking for individual financial advice, please contact a local Independent Financial Adviser.
    • ColdIron
    • By ColdIron 19th Jun 17, 4:28 PM
    • 3,158 Posts
    • 3,595 Thanks
    ColdIron
    I always recommend Dolphin Trust as a good investment
    Originally posted by xunil
    Congratulations, you are the winner of the prestigious 'worst advice' award for this thread
    • dunstonh
    • By dunstonh 19th Jun 17, 4:29 PM
    • 88,118 Posts
    • 53,345 Thanks
    dunstonh
    I always recommend Dolphin Trust as a good investment, they renovate Grade II listed buildings and convert them into apartments to sell off.

    You get 10% returns per annum and you get your original money back after the chosen term (2 or 5 years)

    The only problem is you can't invest directly with them, you need to use an agent.
    Originally posted by xunil
    This is a wholly inappropriate and totally irresponsible and quite frankly stupid thing to recommend. I cannot emphasise how much so. You are a dangerous poster and I hope the OP does not give your post any consideration.

    I have pressed spam on your post as I suspect you are trying to promote it as no sensible person would consider it for this scenario (and most other scenarios considering it is an unregulated investment with no FSCS protection with 100% loss potential and no guarantees to pay anything.
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. Different people have different needs and what is right for one person may not be for another. If you feel an area discussed may be relevant to you, then please seek advice from a Financial Adviser local to you.
    • bigadaj
    • By bigadaj 19th Jun 17, 5:09 PM
    • 9,155 Posts
    • 5,851 Thanks
    bigadaj
    Not sure xumil's post is spam, more just stupid advice from an inexperienced individual.

    Think he should go back to his debate about whether Xbox or PlayStation is better, I have a feeling he's far more experienced in that arena.
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

1,416Posts Today

6,687Users online

Martin's Twitter