I have got some money to invest

rickymicky

Hi all, due to a seperation with my wife in the near future i will have about 18-19k and really wanted some good advice on how to make the most of my money.I am prepared to not touch the money for at least a year or maybe longer.So just wondered if anyone can help me out with my best options.

Thanks

Rickymicky

Lokolo

Investing requires around 5+ years....

If you only plan on keeping it for around a year then I would look at some savings accounts first.

Have you filled up your ISA?

davidlee

Withour knowing about the details of your requirements, it is really difficult to give you any advice that would really help you.

So, take help from a financial planner who can give you various suggestions depending upon your specific needs and help you in finding the best one.

rickymicky

cheers guys
ill have to look at a few options......... when you say 5 years investment are you talking about investing in shares?

Lokolo

Thats what investing is.....

kingmonkey

rickymicky wrote: »

cheers guys
ill have to look at a few options......... when you say 5 years investment are you talking about investing in shares?

Shares, bonds and property.

Aegis

Lokolo wrote: »

Thats what investing is.....

Not always... Investment would include shares, but it also includes unit trusts, commodities, property, land, etc. In short, shares are investments, but not all investments are shares.

Your first post in this thread was spot on in either definition though

ziknik

Depends on the risk you are willing to take.

I’m sticking my money in Bullion Vault

Aegis

ziknik wrote: »

Depends on the risk you are willing to take.

I’m sticking my money in Bullion Vault

You're fairly high risk then?

[Deleted User]

1. Generally ISA's are a good place to start:

http://www.moneysavingexpert.com/sav...gs-without-tax
and http://forums.moneysavingexpert.com/....html?t=401374

2. Regular savings accounts are good too:

http://www.moneysavingexpert.com/sav...vings-accounts
and http://forums.moneysavingexpert.com/....html?t=608697

Regular savings accounts are generally a good place for new money e.g. monthly pay cheques, however if for example you have £3k in a 6% high-interest bank account drip-feeding into a 10% regular savings account then you're essentially getting 8% interest on average for your £3k which beats most fixed rate products - albeit with a bit more work.

3. If you want something with a little less work then fixed rate savings accounts are a good option:

http://www.moneysavingexpert.com/sav...interest#fixed
and http://www.thisismoney.co.uk/saving-...&in_page_id=50

4. One other thing you might like to consider is getting a decent instant access savings account:

http://www.moneysavingexpert.com/sav...st#topaccounts
and http://www.thisismoney.co.uk/saving-...&in_page_id=50

5. Finally if you're a higher rate tax payer then NS&I's 3 and 5 year Index Linked Savings (http://www.nsandi.com/products/ilsc/index.jsp) look good, paying 1% above the RPI inflation rate. Currently this is 4.3% so that’s a rate of 5.3% after-tax or 8.8% before. Finding a savings account paying this isn't common... It is tied to inflation however so if this rate drops then so does your interest.

mr_rush

1 year = stick to cash products.
Use your ISA allowance first.