what to do with this money

chelleybelley

HI thanks for all ur replies when i said isa has come to an end i meant of the fixed rate.....i have taken into account all the replies and had a good look around the net all afternoon and i think that it may well be worth keeping it in the isa at the mo...i dont think he would be interested in buying gold..but thatnks anyway lol

6022tivo

Problem with gold is it is on the up now, because of currency concerns, but when we come out the other end, no one will have the cash to buy the gold and the price will plummet as people will need to cash it in..

Lol_UK_2

6022tivo wrote: »

Problem with gold is it is on the up now, because of currency concerns, but when we come out the other end, no one will have the cash to buy the gold and the price will plummet as people will need to cash it in..

Ok,... so when is this other end going to happen? You think it will be a year, less? Think on...seriously!
Has gold ever crashed?...I mean it has gone up/down slightly but look at the 5 or 10 year gold price.
It is what we all used to assume backed our currency- to give it true worth, but since 1971 it's just bits of paper! If governments decide to buy up gold to start building up the depleted reserves...guess what- gold becomes harder to buy and goes up! If Comex in New York defaults on all it's short selling of gold (a fraud scandal waiting to happen) guess what- gold shoots up!

Nothing will change in 3, 5, 10 years time, except that all currencies will be worth less and gold, which has an intrinsic value will have to be more expensive.

I just cannot believe that you would rather trust your money to a bank- after what has transpired over the last 6 months, than in the only true solid asset of value that we have in the world! I'm frankly amazed!!

lilac_lady

How about Premium Bonds for a while till things settle down a bit?

Lol_UK_2

lilac_lady wrote: »

How about Premium Bonds for a while till things settle down a bit?

Yep- great idea! At least you (hopefully) won't lose your initial stake!

Lokolo

Lol_UK wrote: »

Yep- great idea! At least you (hopefully) won't lose your initial stake!

And that just proves you know nothing.

Lol_UK_2

Lokolo wrote: »

And that just proves you know nothing.

What? Please explain...

Lokolo

Lol_UK wrote: »

What? Please explain...

You have been spamming threads about buying gold, its rather irritating. PBs have an average rate of return of 1.8%, but in reality, for most its a lost less. Why on earth someone wants as crap product as that? You can get instant access savings which give better returns.

Lol_UK_2

Lokolo wrote: »

You have been spamming threads about buying gold, its rather irritating. PBs have an average rate of return of 1.8%, but in reality, for most its a lost less. Why on earth someone wants as crap product as that? You can get instant access savings which give better returns.

I haven't been 'spamming' threads about Gold...it just happens to be my belief that instead of being continually fleeced by our appalling run banking industry, we can all do better by having something that might actually protect our savings in the coming months/years! My point about PBs is that at least there's a smaller risk that your 'investment 'won't actually disappear completely...and 10k in PBs would be part of a diversified portfolio!
Who knows, it could be you!

Richard_Cocks

How is 10K in PB diverse for someone asking what to do with 16K? If 100% security was wanted, it would make far more sense to put it in other NS&I (or N.Rock) products. The index tracker would be a hedge against inflation worries, or more suitably keep the money in an ISA to keep it's tax-free status.