what can i do with 30k?

want2bmortgage3

If I have approx 30k sittin in the bank, what are my options, how best can I invest it?

Is there a guide on the website for such questions?

Is property buy to let the way to go or something else?

Look forward to replies

A.Jones

Are you likely to need it in the next 6 months, 1 year, 2 years, etc?

Are you open to risk?

Consumerist

want2bmortgage3 wrote: »

. . . Is there a guide on the website for such questions?

I'm a little confused as to why you don't know your way around this site after such a long membership.

Care to explain ?
.

mark987_2

how about investing part of the money in mutual fund for the start

Jonbvn

mark987 wrote: »

how about investing part of the money in mutual fund for the start

This is not a US site????

want2bmortgage3

i am asking as i already have a property but most of the time i've owned one i've felt like its tied me down, an endless payment of £650 a month, i feel like i'd be better off being free of property and just saving money in the bank til i actually need a property (say i wanted a family in the future).

does a single person really need to own a property? people say 'you dont want to come off the ladder' but if i never had a property in the first place then have i really got a good reason for buying one now? i am thinking of all the interest (£400+ a month) i'm paying before paying off any capital on the mortgage.

want2bmortgage3

thanks modernians, definitely sounds worth looking into. i like having a say and dont mind a little risk. i actually enjoy betting on football (risk) as well as matched betting (no risk). can you recommend a book or a resource to get an introduction on investing in stocks and shares???

C_Mababejive

split it 50/50 and buy vodafone and National grid shares. Buy via an online dealers such as TDW or iii

MacsReturns

want2bmortgage3 wrote: »

thanks modernians, definitely sounds worth looking into. i like having a say and dont mind a little risk. i actually enjoy betting on football (risk) as well as matched betting (no risk). can you recommend a book or a resource to get an introduction on investing in stocks and shares???

An interesting resource, with some good basic info is https://www.monevator.com

Primrose

Well, if you don't own a property because you don't like the idea of paying all that interest on a mortgage, pause to reflect that if you're renting you're probably still paying interest on a morgage, but you're probably in a buy-to-let property and you're paying somebody else's mortgage for them! (which is even more galling than paying your own because however long you live there, you never get anything out of it to call your own).

If you sell your current property and shove the money in the bank, by the time you DO want to buy another property you'll probably find prices have increased so much that you could no longer afford to buy the house you're living in now.

Maybe your best option is to keep back sufficient "emergency money" in a savings account and use the balance of your £30K to reduce your current mortgage.