Money To Invest But Have To Live Off - Help !!!

vespa_angel

HI
I WONDER IF ANYONE CAN HELP? IN ABOUT 2 MONTHS I WILL COME INTO SOME MONEY AND ONCE DEBT ETC PAID I WILL HAVE ABOUT £33,000. I WILL BE A MATURE STUDENT AND HAVE CHILDREN TO SUPPORT. I WILL HAVE TO COME OFF BENEFIT. I NEED TO MAKE THE MOST OF THIS MONEY BUT ALSO BE ABLE TO LIVE OFF OF IT. ANY HELPERS OUT THERE?? THANKS

ad44downey

you'd need at least 10 times that amount to live off it.

vespa_angel

Hi
Maybe I Was Not Clear Enough. I Realise This Will Not Last More Than A Few Years, But I Need To Know How To Make The Best Of It While It Lasts. I Am Going To College And Then 3 Years At Uni. Hope This Is Clearer.

[Deleted User]

A series of good savings accounts, regular savers, bonds etc suitable to your circumstances would be advised. Read Martins guides on the best products.

Investing is only for the long term if you dont need access to the money, your circumstances dictate you need to save, not to invest.

sabretoothtigger

Unless you take high yielding shares or bonds. eg. Lloyds tsb have a yield of about 12%

a7man

If you arent working/ are a non tax payer make sure you claim back the tax deducted at source for the savers, it will give you 20% extra interest.

B.E.N

sabretoothtigger wrote: »

Unless you take high yielding shares or bonds. eg. Lloyds tsb have a yield of about 12%

Don't want to get off topic, but have you got any more information about these, please?

cheerfulcat

At current prices Lloyd's shares certainly are very high yield but have a look at the chart before you get too excited. High-yield can be an indicator of high risk - for bonds as well as shares. I hold Lloyd's and other high yielders as part of a larger portfolio - you have to be prepared for a pretty bumpy ride!

Probably not suitable for the OP.