what would you do with £3,000?????

Debt_Free_Chick

needstoknow wrote:

debt free chick i like those odds, what you got in mind?

Any speculative/aggressive equity fund e.g. Threadneedle Latin American Growth or Fidelity India Focus Fund - just to name two that I've invested in, but there are many, many more. These are not recommendations, just examples of "risky" funds that have doubled their money for me

My post was a little tongue in cheek as it was meant to illustrate the need to consider "risk" (or one of the measures of risk).

If you can afford to write off the entire investment after one year, then that might indicate that you can accommodate a more risky investment, such as the funds I mention. After one year, if they're worthless you're no worse off as you didn't need the money anyway. So you would just hold on until they recovered ... however long it took.

But if you really can't afford to lose anything after a year, then your options are more limited (and certainly do not include equity-based funds).

I was a bit confused as you seemed to suggest that, on the one hand, you could be very risky. But then you didn't want to consider the Lottery. Does that mean the odds of the Lottery are unattractive? Or that you don't want to potentially write off your initial outlay?

Finally, whilst I and many others can point to investments that might have done well in the past ... none of us can point you to one that is definitely going to do well in the future.

Can you give us a clue as to those types of investment you find attractive? Have you done any research and found anything interesting?

MORPH3US

Don't you have any debts you can pay off with it!?

Boring I know, but i'm not used to people being so blase about money and risk!

M

needstoknow

thank you for all your adivce, and nope no debts!

el-dog

bjornmarian

'I'll have some of that but where's this 10% savings account for a lump sum???'

Barclays. Hope they don't read your thread because they advertized it every where.

I'm aware of the 10% regular saving account - what's the name of the account to stick a lump sum into??

El-Dog

moneyandmountains

Bargain_Annie wrote:

Ooohhh what is your attitude to risk??? I recently read about Zopa (Zone of possible agreement)- it's fairly new so still to be tried and tested I guess, but I must admit that I'm thinking of investing a little myself. If you would like to know a bit more read last weeks Motley Fool article called 'How I opened my own Bank' - and then you can decide for yourself!

Bargain Annie. Before you rush into Zopa, then do a search on the MSE forums on this subject (there is quite a bit there!), especially now considering that fees for lenders have been introduced.

maforduk

el-dog wrote:

I'll have some of that but where's this 10% savings account for a lump sum???

El-Dog

Alliance & Leicester or
Barclays - (Requires your wages to be paid in as part of the agreement for 10% though)

hansi

I would spend half on wine, women and song, and squander the rest!

needstoknow

im thinking women and wine win, but no song, id just end up on pop idiot!

jackthelad_2

go to the bank and change it up into coins, then melt down- it will be worth more!

Lady_E

How about premium bonds?? You could access the money at any stage and there is a reasonable chance of winning, or so Ernie tells me . :rotfl: