Where to put a lump sum?

baldbloke_2

fong wrote:

Dear Steve-0 ,


Maybe you will like to try this investment

Please click my webpage from my username .

Thanks !

This doesn't seem an appropriate response to a general question of this sort. It appears to be a form of 'selling' which is not the purpose of this forum.

Jellylegs_2

Hi steve-o
This is my first post too so hope I do everything right! Thought I'd do my bit since I have saved & earned (money)so much from this site & Martin's book from the beginning of this year & learning everyday. I'd stayed with the same bank since leaving school & recently moved to the A&L opening an account online through 1 of the cash back sites mentioned on this site Quidco & got paid £50 for the privilege, best thing I ever did as now got online banking which scared me to death at first. Anyway you can open an account with them & you only have to put in £500 a month to open it & it currently pays 6.10% until Sept '07 & you open a regular saver at the same time which is now paying 12% & put the max of £250 in a month for 1 year I have & juggled money about & look on here in 12 months or before time to mature to see best place to move it too or fund an ISA with it if you haven't used your allowance when matures. Just by a little juggling I've already increased my interest on savings alone by over £200 without any risk & now got the bug.Think if it was me I would split it up & look for the best high interest returns as I'm now in the process of doing more of this as got some more savy information off the Rpoints forums today by chance. Hope this helps & good luck :T

wongseefu

Hi Stevo,

First of all, l'm not in the IFA business... This is just my personal view but why not aim for a higher risk investment since your so young rather than a savings account. I'm 24 graduating soon and started investing into equities about 5 years and now l'm dipping my toes in investment funds.

Theres alot of things your money can go into. REITS? FUNDS? PRIVATE PENSION? theres an abundance you can do to improve your finance in your future.

The same with everything though, your education in what you aim to do has to be spot on. So make sure whatever you do... read up on it and take your time.

Having several high interest saving accounts isn't a bad idea but in your situation at your age a bit of risk seems appropriate for a good return especially if you can invest for up to 5 years.


All the best, Hope that helped !!!

Regards,

EdInvestor

Have you considered an offset mortgage? All the benefits of overpaying,including the high rate and the tax saving, but the capital still remains available for use if needed.