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  • FIRST POST
    • Susan1942
    • By Susan1942 4th Oct 17, 8:22 AM
    • 1,015Posts
    • 177Thanks
    Susan1942
    Where to put money?
    • #1
    • 4th Oct 17, 8:22 AM
    Where to put money? 4th Oct 17 at 8:22 AM
    I have a Santander current account I get 1,5 % interest up to £20,000. I have an esaver with them which pays 5% latest one was 3% on previously.
    Problem is I now have in excess of £27,000. Not sure what to do with the surplus.
    I do have several investment several bonds which I have had for several years.
    One particular original investment was £20,000. Over the years I.have taken several withdrawal to a total of over £19,500. The current value of this is just under £30,000. I can make further deposits to this from £2000.
    Wondering if I should add a further £5000.
    I have another which has almost doubled its original £30,000. It is not possible to make any further addition to this. I have hot stocks and shares ISA wondering if I should add to this
    Another investment if £30,000 which initially lost around the £8,000 in first 2 years but this has now recovered to around £43,000
    I no longer have a financial advisor as I lost faith in.him. A number of years ago he got me to put money.in a with profit bond with Standard Life.at a time when there was.a lot of adverse publicity about the company. I cashed that in when I reinvested my money in two bonds of £30,000 eachm
    He had promised me an annual reviews but he avoided me.I think. I could have complained but he was a friend of my Son in Law
    I feel that when I don't have further money to invest advisors are not really interested
    Advice would be appreciated Thanks Sue
    Last edited by Susan1942; 05-10-2017 at 12:21 AM.
Page 1
    • ColdIron
    • By ColdIron 4th Oct 17, 9:37 AM
    • 3,460 Posts
    • 4,068 Thanks
    ColdIron
    • #2
    • 4th Oct 17, 9:37 AM
    • #2
    • 4th Oct 17, 9:37 AM
    Advice would be appreciated Thanks Sue
    Originally posted by Susan1942
    Punctuation and grammar? I'm having a tough time reading this
    • IanSt
    • By IanSt 4th Oct 17, 11:02 AM
    • 73 Posts
    • 33 Thanks
    IanSt
    • #3
    • 4th Oct 17, 11:02 AM
    • #3
    • 4th Oct 17, 11:02 AM
    You need to think about what aims you have in life and how this money can help you get there. Without that information no-one (including yourself if you've not really thought about it) can really help you and give you their opinions on what you could possibly do.

    It may be that putting the money into a simple bank/building society account paying a few percent per year is the right thing to do. But without knowledge of what your plans are no-one can say.
    • jimjames
    • By jimjames 4th Oct 17, 12:13 PM
    • 12,096 Posts
    • 10,545 Thanks
    jimjames
    • #4
    • 4th Oct 17, 12:13 PM
    • #4
    • 4th Oct 17, 12:13 PM
    If you have sufficient cash and are happy with investments then either S&S ISA or pension are two options
    Remember the saying: if it looks too good to be true it almost certainly is.
    • Mnd
    • By Mnd 4th Oct 17, 1:41 PM
    • 156 Posts
    • 167 Thanks
    Mnd
    • #5
    • 4th Oct 17, 1:41 PM
    • #5
    • 4th Oct 17, 1:41 PM
    If you are more comfortable with current accounts there are several that pay a higher rate than santander. Tesco, tsb, lloyds for example. Yiu do need to fulfil certain requirements such as minimum payments and direct debits but these are not insurmountable
    • enthusiasticsaver
    • By enthusiasticsaver 4th Oct 17, 11:00 PM
    • 4,427 Posts
    • 8,232 Thanks
    enthusiasticsaver
    • #6
    • 4th Oct 17, 11:00 PM
    • #6
    • 4th Oct 17, 11:00 PM
    I have a Santander current account I get 1,5 % interest up to £20,000 I have an esaver with them which pays 5% latest one was 3% on previous
    Problem is I now have £27,000 in excess of Not sure what to do with surplus Do you mean esaver or regular saver? The one where you can only put in £200 maximum per month?
    I do have several investment several bonds which I have had for several years
    One particular one was £20,000 original investment Over the years I.have taken several withdrawal to a total of over £19,500 The current value of this is Just under £30,000 I can make further deposits to this from £2000 What return is this giving you? Normally you cannot add to bonds you keep rolling over but there are some exceptions.
    Wondering if I should add a further £5000 to this
    I have another which has almost doubled its original £30,000 but this is closed and not add to this Got stocks and shares ISA wondering if I should add to this
    Another investment if £30,000 list about £8,000 in first 2 years but has now recovered
    I no longer have a financial advisor as I lost faith in.him when a good number of years ago he got me to put money.in a with profit bond at a time when everyone was talking about SL and their with profit bonds I cashed that in when I reinvested my money in the two bonds if £30,000
    He had promised me an annual reviews but he avoided me I think. I could have complained but he was a friend of my SIL so I did nothing about it
    I feel that when I don't have further money to invest advisors are not really interested Advice would be appreciated Thanks Sue
    Originally posted by Susan1942
    What is your position? Are you retired or approaching retirement and what is your pension situation like. If this is money you do not need access to then have you used your isa allowance for this year? I am not a fan of financial advisors either and look after my own portfolio.
    Countdown to early retirement on 21.12.17 2 months to go.
    • Susan1942
    • By Susan1942 5th Oct 17, 12:39 AM
    • 1,015 Posts
    • 177 Thanks
    Susan1942
    • #7
    • 5th Oct 17, 12:39 AM
    • #7
    • 5th Oct 17, 12:39 AM
    I do apologize for my post. I have tried to edit it to make more sensible reading.
    I am retired with 3 pensions which more than meet my outgoings.
    I can afford to take several holidays a year.
    I am also giving my two grandchildren who.are University students a monthly allowance.from.my income.
    My son has a house with negative equity equity which he is renting out and this covers the mortgage payments.
    I gifted him the deposit to enable him to buy another property as he had to relocate.and I did not want him to have to rent.
    I own a property which is worth a substantial amount. I am 75 and whilst my health is good at the moment there is the possibility of long term care in the future
    There is really no.easy answer and I suppose I should be.grateful that I do.not have any money worries
    I appreciate all your response Sue
    • crv1963
    • By crv1963 5th Oct 17, 10:00 AM
    • 126 Posts
    • 387 Thanks
    crv1963
    • #8
    • 5th Oct 17, 10:00 AM
    • #8
    • 5th Oct 17, 10:00 AM
    I do apologize for my post. I have tried to edit it to make more sensible reading.
    I am retired with 3 pensions which more than meet my outgoings.
    I can afford to take several holidays a year.
    I am also giving my two grandchildren who.are University students a monthly allowance.from.my income.
    My son has a house with negative equity equity which he is renting out and this covers the mortgage payments.
    I gifted him the deposit to enable him to buy another property as he had to relocate.and I did not want him to have to rent.
    I own a property which is worth a substantial amount. I am 75 and whilst my health is good at the moment there is the possibility of long term care in the future
    There is really no.easy answer and I suppose I should be.grateful that I do.not have any money worries
    I appreciate all your response Sue
    Originally posted by Susan1942

    If you are financially secure and have cash available as emergency funds already and your estate would be subject to inheritance tax it may be an idea to give more money from income/ lump sum gifts to your heirs? My understanding from my reading many of the threads on this site is as long as it does not adversely affect your own lifestyle then you can make regular payments to others.


    For instance it may be helpful to know that you have contributed to your sons' or grand childrens' financial future by putting some money into their pension- early start compound interest means they get a head start in building their pots up or alternatively a help to buy ISA or LISA?


    Just my thoughts!


    CRV
    CRV1963- Light bulb moment Sept 15- Planning the great escape- aka retirement!
    • Susan1942
    • By Susan1942 5th Oct 17, 3:35 PM
    • 1,015 Posts
    • 177 Thanks
    Susan1942
    • #9
    • 5th Oct 17, 3:35 PM
    • #9
    • 5th Oct 17, 3:35 PM
    Thanks for that I have 5 grandchildren 21 20 15 13:and 7. invested some money for them when they were born..The idea being that it would help them when they were studying at university.
    The 20 year old will spend a year at an US university from.August 2018 as part of her degree. She needs a guarantor for that year.
    My Grandson is going to do a Master's next year and I am going to fund him for that year.
    Whilst my will has got some money built in.for the Grandchildren I am considering changing my will instead be leaving the bulk equally between my Son.and Daughter. With Student debt and the problem of young people getting their foot on the housing ladder I am considering that each half be equally divided to include the Grandchildren.
    Don't know what my S&D think.of this but my Granddaughter thinks it a very good idea! I have not taken any legal advice on this.
    I was widowed at 53 and my Son and Daughter inherited some money from.their Father. This money was used to buy a larger house and my son.to but his first house
    Neither set of Parents would be in.the position right now to be able to substantially help them
    Thanks again.Sue
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