18 year old with 70k to invest, help / advice

[Deleted User]

datacat wrote: »

and keeping the 18k for stuffs (i.e may need a mac pro for uni etc)

That must be a gold mac pro with diamonds and everything!

30k in which bonds...?

The_One_Who

If you are making money out of the investment, which you will be since it's quite a lot then you do have to declare this on your student loan forms. This can reduce the amount you'll receive so might have to use some of the money to help you along a bit.

datacat

im already on the mimum of the student load due to parents incom

he he he i wishh

erm atm im just thinking of premium bonds? so that 30k is 30k wenever but theres a chance i could win big?

are there any beter kinds of bonds i shouldlook at?

[Deleted User]

datacat wrote: »

erm atm im just thinking of premium bonds? so that 30k is 30k wenever but theres a chance i could win big?

I'd suggest reading this article: http://www.moneysavingexpert.com/savings/premium-bonds

To summarise - I'd think twice...

datacat wrote: »

are there any beter kinds of bonds i shouldlook at?

See my original post above.

The_One_Who

datacat wrote: »

im already on the mimum of the student load due to parents incom

You need to declare any income on savings that you will have too. And to be honest, with £18k just for "stuffs" you don't really need a student loan.

Lokolo

The_One_Who wrote: »

You need to declare any income on savings that you will have too. And to be honest, with £18k just for "stuffs" you don't really need a student loan.

3.8% cost. Saving it is so worthwhile

Talk to your bank's IFA

Banks don't have IFAs

datacat

ok thanks, the main reason for the bonds was just incase i needed some mney fast so i wouldnt have to dip into any longer term investments i could just withdraw some bonds etc

Valley_Bluenose

datacat wrote: »

ok thanks, the main reason for the bonds was just incase i needed some mney fast so i wouldnt have to dip into any longer term investments i could just withdraw some bonds etc

As davidmt83 says - get yourself sorted out with ISAs (cash, then stocks and shares) then find some high interest, instant access savings accounts. Kaupthing Edge may be a good place to start then Icesave or something similar (click on the Banking/Saving tab at the top of the page and find Martin's article on savings.)

dunstonh

OK, so it looks like that it isnt investing that you are interested in but saving. Although the full ISA allowance could be utilised as that allows £3600 cash and £3600 stocks and shares and you can always use the S&S part for lower risk investments.

Talk to your bank's IFA

Never ever ever do that. Even if the bank is whole of market, they are still a salesforce and whilst they may use the titles they are often panel based rather than true whole of market.

Energize

Since you say no risk, then it's saving not investing and I would just max out the ISA and put the rest in bonds like those 7.2% ICICI 1yr bonds.