We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Sipps
cuddlyclare
Posts: 1 Newbie
Can anyone help me. I have money in a SIPP. I have taken it all into cash but don't know where to put the money for the best. Can I put it into building societies rather than banks? What else is as good as cash? I don't want to put it in the stock market. Can I take it out of the SIPP? Is there something better to do with the money?
0
Comments
-
How long before your retire? It would be better to keep it invested in my opinion.
Who is your SIPP provider. They will keep the money in an appropriate bank account (or spread over several accounts) for you and you probably cannot choose these for yourself. You can't move the money outside your SIPP into an account of your own choosing.
Is there something better to do with the money? Yes, re-invest it unless you only have a few years to retirement.0 -
SIPPs are for experienced investors. What you are doing in a SIPP?I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
-
What else is as good as cash?
What is your timeframe for "I don't want to put it in the stock market" ??
You could buy a Gilt or Supranational Bond, but you won't get a yield much above 1.5-2% if your timeframe for keeping out of equities is only a year or two.'In nature, there are neither rewards nor punishments - there are Consequences.'0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.4K Banking & Borrowing
- 253.7K Reduce Debt & Boost Income
- 454.4K Spending & Discounts
- 245.4K Work, Benefits & Business
- 601.3K Mortgages, Homes & Bills
- 177.6K Life & Family
- 259.3K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards