made redundant can i live off 170k.

CluelessJock

opinions4u wrote: »

I don't think he means the local high street bank.

Which is the reason why I posted above about seeing an IFA to resolve this.

Doesn't matter to me where it's available, I would still like to know. Wouldn't be much point in advising to lock it away when the man needs income now!

Lokolo

CluelessJock wrote: »

Doesn't matter to me where it's available, I would still like to know. Wouldn't be much point in advising to lock it away when the man needs income now!

Corporate Bonds

mattwallisuk

I think you'll find most bonds at the moment are now 4% and not 5%.

Lokolo

mattwallisuk wrote: »

I think you'll find most bonds at the moment are now 4% and not 5%.

M&G Strategic Corporate Bond A Acc

Return of 5.74% over the past 6 months.

srg751

Just put 14k in 2 isas for partner and myself invested in corporate bond funds. someone suggested a high yeilding share. what is a "high yielding" share??

Lokolo

srg751 wrote: »

Just put 14k in 2 isas for partner and myself invested in corporate bond funds. someone suggested a high yeilding share. what is a "high yielding" share??

A share that returns a high yield.... (dividend)

ad44downey

CluelessJock wrote: »

Pray tell, where is 5% available?

Most FT-Se 100 shares yield that in dividend income. Some yield alot more like BP.

tradetime

iShares DJ Euro Stoxx Select Dividend (IDVY) yields about 10.7% currently.
iShares DJ Asia/Pacific Select Dividend (IAPD) yields about 11.6%
iShares FTSE UK Dividend Plus (IUKD) yields about 11.1%

Of course there is no guarantee that they'll keep that up, and there is capital risk of course.

yung

Assuming you have not used your ISA allowance for this tax year, you can always invest £7600 in a High income ISA trust. then after April 6 add another £7600 into it.that will give you a tax free income. and with the rest of your money you can invest in another High Income trust. but the income is taxable.

I have got £15500 in an Isa High income fund giving me a tax fre income of £76 pm.
and £6000 in another High Income Fund giving me £26 pm after tax.

DiggerUK

We are similar ages, similar finances. I am still employed.You need to get a bog standard job before anything else. Drive a bus, anything to get an income.

More importantly stay away from IFA's, they are all snake oil sellers. They don't give a rats @rse what happens to your money after they have got their commission.
1. Get rid of your mortgage now.

2. Put everything you can in your Cash ISA's, there is every chance that the amount we can put in will go up after the budget.

3.Don't put anything into shares or equities, the market is tanking.

4.Get what you can for your pension pot now, while you still can.

5.Buy some gold bullion. It will hedge you against any future catastrophe. It can be stored in a box at your bank for 30/40 pound a year.As it looks like you won't need it for 5/10 years at least I think it's a good investment. Go as high as 20/30,000.

6.Stick 30,000 in Premium Bonds. Low interest rate I know, but hey you never know and it is safe.

7.Put everything else in the highest paying instant access BS A/C you can find.

Good Luck.