Where to start?

TonyRome_2

Hi,
I have just received my redundancy and, after paying off debts, will have £10,000 to invest. I have never saved before. Where is the best place to start?

thanks

JoeCrystal

The answer I want to know is, are you saving the money to get the guaranteed interest or are you willing to invest for better potential returns and equally high potential losses? :beer:

I will be back soon.

TonyRome_2

I guess its the savings route predominately, require an element of security, but would also be willing to look at a proportion in investments. As I say,its all new to me!

Lokolo

Do you know about ISAs?
Are you a taxpayer?

TonyRome_2

I have been paying tax - 20 years -now I'm redundant. Have heard of ISAs- are these for the first £3,600 only?

JoeCrystal

:T Indeed, although you can only put in certain amount of allowance every tax year, so you can only pay in £3600 this year.

As it is, since you made redundant, are you looking for another job? That may require easy access to your savings.

Twickenham_Green_FA

Hi Tony, firstly it would depend on your job prospects. Are you looking for employment right now? Do you think you'll get a job easily? Do you want to take time off? If you only have £10k, I would be hesitate to invest it without regular income from employment/business.

DiggerUK

Brendan_Bensley_IFA wrote: »

Hi Tony, firstly it would depend on your job prospects. Are you looking for employment right now? Do you think you'll get a job easily? Do you want to take time off? If you only have £10k, I would be hesitate to invest it without regular income from employment/business.

Time to go home. Your rumbled.

Aegis

DiggerUK wrote: »

Time to go home. Your rumbled.

Do you disagree with anything he posted there? Aside from the link in the signature, which may be from ignorance of the rules, it sounded perfectly sensible to me.

Twickenham_Green_FA

Apologies if I have broken the rules, I will check the rules and make amendments to my signature.