Advice on what to do with £80000

Reaper

bunty2 wrote: »

Thanks. One was a guaranteed savings (on capital) the other 2 were investments. Do need to decide whether may need it in the next few years before going further.
Thank you for your help.

So the advisor was suggesting investments. I have to say I think that is poor advice unless you are willing to take high risk in the hope of high returns. The stock market is very volatile. On the one hand it has fallen a long way so it may be a good time to invest, but on the other hand we are probably on the verge of a recession.

By "guaranteed savings" did he mean a savings account or an investment where the capital is protected? The protected capital investments are not highly regarded round here. You sacrifice a lot of the gains (eg no dividends) for the guarantee. Furthermore some of the companies the guarantee was supplied by (not the company people took the investment out with) recently went bust meaning the protection has sometimes turned out to be worthless.

You have to make some decisions to start with. The first is how much risk you are willing to take. If you are a risk taker then the stock market is for you - in the long term it tends to do better than savings but expect a rollercoaster ride with heart stopping drops at times. If you are not a risk taker then stick with savings. Or do a combination of both.