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  • FIRST POST
    • red devil
    • By red devil 11th Dec 07, 2:32 PM
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    red devil
    What to do with ten thousand pounds?
    • #1
    • 11th Dec 07, 2:32 PM
    What to do with ten thousand pounds? 11th Dec 07 at 2:32 PM
    family member has this and has 5 of it in premium bonds in case of a big win and the other five in high interest account any ideas how to make more of 10 grand?
Page 1
    • dunstonh
    • By dunstonh 11th Dec 07, 5:13 PM
    • 82,298 Posts
    • 47,390 Thanks
    dunstonh
    • #2
    • 11th Dec 07, 5:13 PM
    • #2
    • 11th Dec 07, 5:13 PM
    Usual questions...

    Invest or save?
    what timescale?
    what tax rate?
    what risk profile?
    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.
    • red devil
    • By red devil 12th Dec 07, 12:28 AM
    • 10,208 Posts
    • 7,514 Thanks
    red devil
    • #3
    • 12th Dec 07, 12:28 AM
    • #3
    • 12th Dec 07, 12:28 AM
    sorry dont understand questions. no timescale just how to make it go further.
    • red devil
    • By red devil 13th Dec 07, 1:45 PM
    • 10,208 Posts
    • 7,514 Thanks
    red devil
    • #4
    • 13th Dec 07, 1:45 PM
    • #4
    • 13th Dec 07, 1:45 PM
    bump. anyone know?
  • exel1966
    • #5
    • 13th Dec 07, 1:58 PM
    • #5
    • 13th Dec 07, 1:58 PM
    sorry dont understand questions. no timescale just how to make it go further.
    Originally posted by red devil
    In other words you're being far too vague. To get sensible advice you have to elaborate a little. There are hundreds of things you could do to make more of your £10K.

    Savings/ISA's/Stocks/Bonds ?
    Easy Access/restricted access/some risk/no risk ?
    Tax status - Non tax payer/lower rate/higher rate ? It makes a BIG difference.
  • youknowwho
    • #6
    • 13th Dec 07, 7:48 PM
    200k to invest
    • #6
    • 13th Dec 07, 7:48 PM
    Could anyone advise on where would be the best place to put 200k. I am selling my home and moving into a free one (long story) and will have 200k from the sale of my house.

    I dont want to lose it, so dont want to take any risks.
    earning 33k PA
    probably have between 3-5 years to invest it.

    Am i right in thinking that the best would be to put in a 6% savings and get a return of 12K PA in interrest.

    Thanks for reading!
    Last edited by youknowwho; 13-12-2007 at 7:49 PM. Reason: Sorry was meant to start new post
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    • dunstonh
    • By dunstonh 13th Dec 07, 9:30 PM
    • 82,298 Posts
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    dunstonh
    • #7
    • 13th Dec 07, 9:30 PM
    • #7
    • 13th Dec 07, 9:30 PM
    3-5 years is a tad short to invest it and your risk profile suggests cash based savings.

    Am i right in thinking that the best would be to put in a 6% savings and get a return of 12K PA in interrest.
    Not quite. It will take you into higher rate tax if you stick it all on a savings account so you will lose 40% on a chunk of it.

    You should perhaps look to maximise your ISA allowances and possibly Nat Savings Certs to reduce your income tax liability.
    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.
    • red devil
    • By red devil 14th Dec 07, 2:38 PM
    • 10,208 Posts
    • 7,514 Thanks
    red devil
    • #8
    • 14th Dec 07, 2:38 PM
    • #8
    • 14th Dec 07, 2:38 PM
    In other words you're being far too vague. To get sensible advice you have to elaborate a little. There are hundreds of things you could do to make more of your £10K.

    Savings/ISA's/Stocks/Bonds ?
    Easy Access/restricted access/some risk/no risk ?
    Tax status - Non tax payer/lower rate/higher rate ? It makes a BIG difference.
    Originally posted by exel1966
    easy access low risk, non tax payer.
    • shadowspy24
    • By shadowspy24 18th Dec 07, 2:49 PM
    • 231 Posts
    • 118 Thanks
    shadowspy24
    • #9
    • 18th Dec 07, 2:49 PM
    • #9
    • 18th Dec 07, 2:49 PM
    you could always buy a house and rent it out. House will probably increase in value also so you won't lose the original investment.
    • dunstonh
    • By dunstonh 18th Dec 07, 3:38 PM
    • 82,298 Posts
    • 47,390 Thanks
    dunstonh
    you could always buy a house and rent it out. House will probably increase in value also so you won't lose the original investment.
    Originally posted by shadowspy24
    Daft statement of the day goes to shadowspy.

    buying a house for a three year timescale is daft but even more so at a time when property prices are on decline.

    ..wont lose the original investment..... oh dear. You must have been an endowment salesman in a past life.
    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.
    • Aegis
    • By Aegis 18th Dec 07, 4:21 PM
    • 4,742 Posts
    • 2,806 Thanks
    Aegis
    Wouldn't you also require a substantial deposit for buy to let mortgages, making such a strategy impossible with only £10k?
    I am an Independent Financial Adviser
    Anything I say on the forum is for discussion purposes only and should not be construed as personal financial advice. It is vitally important to do your own research before acting on information gathered from any users on this forum.
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