Getting a monthly income

Hi,

Suppose I had about £50K spare. What would be the best way to invest this so that I would receive a monthly income from it? And what sort of return would I be likly to get?

Any ideas?

Ta


gerty

Replies

  • dunstonhdunstonh Forumite
    112K Posts
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    Forumite
    Well, there are about 5000 products/variations that could suit you. Can you give us a hand on narrowing down the options? such as timescale to tie up some/all of the funds. What you investment risk view is. taxation status. Age etc.

    ie, an IVP could provide a gross return of over 10%pa with no risk but you may not be of the right age to consider that or you may want accessibility to the funds.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • Ok,

    I'm fully employed earing £33K pa. I'm 36, so I wont be retiring for a while yet.

    I'd be willing to commit the money for a year at a time, and would be happy with medium to low risk investments.

    gerty
    dunstonh wrote:
    Well, there are about 5000 products/variations that could suit you. Can you give us a hand on narrowing down the options? such as timescale to tie up some/all of the funds. What you investment risk view is. taxation status. Age etc.

    ie, an IVP could provide a gross return of over 10%pa with no risk but you may not be of the right age to consider that or you may want accessibility to the funds.
  • ShindsShinds Forumite
    448 Posts
    IMO - Safest and easiest thing to do - Would be to put the money is a High Interest Savings account.

    Egg Savings
    ING
    Bradford & Bingley
    Alliance & Leicester.

    Also, you need to think about weather you want your interest paid annually or monthly - I prefer monthly
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