Where best to invest

davip25

I have £50 a month that I would like to save. I currently have it in a regular savings account which pays 0.5% interest, with a bonus of 3% if I make just one withdrawal in the year.

In the past I have had 10 year with-profits savings schemes, one with the Royal Pension Fund for Nurses (now part of the Royal Liverpool), and one with Lincoln Investment. One of the benefits of these was that they were tax-free after 10 years, but they were linked to the stock market.

Would anybody be prepared to give an opinion as to whether I should leave this money in the regular saver, or are there other more suitable vehicles out there.

Thanks for any advice.

edinburgher

Would anybody be prepared to give an opinion as to whether I should leave this money in the regular saver, or are there other more suitable vehicles out there.

Can you differentiate between whether you wish to save or invest? Because savings are safe (to the government guarantee limit, anyway), whereas investments feature the risk of losing some or all of your money.

Think you need to clear this up.

davip25

I would describe myself as fairly cautious, so a low level of risk would be acceptable.

Thanks

edinburgher

I would describe myself as fairly cautious, so a low level of risk would be acceptable.

Ah well, the old canard of 'speak to an IFA' doesn't really apply here, as for £50/mth, an IFA probably wouldn't make much money from you

How did your with-profits investments treat you? I've had one previously and was unimpressed with the awful performance I enjoyed. Would you consider another one?

Personally I'd stick the money in a stocks and shares ISA and invest in a fund with a reasonable track record of stability (morningstar, Lipper etc. are among companies that rate funds based on a variety of factors). Still, can't suggest a specific one as my investments are a little riskier