Can someone help me?

poohzee

My husband and I have £3000 in RBS account earning not much, and now my hubby has noticed I spend a lot of time on MSE has decided I should research investing this money.....however the only bits on MSE that I spend a lot of time on are the grabbit and shop dont drop threads!!:rolleyes:
Basically I am looking for some advise as to what to do with it, we are willing to do shares, and have it tied up for a while but we would like to see a healthy return also, is this too much to ask for?

LOST

considered mini cash ISA? or stocks and shares ISA? these enable a tax free environment for your monies


what are you looking for? growth and/or regular income? and how long do you wish to leave the funds invested for?(i.e. when is the soonest you envisage you will need the money?)

do you consider yourself to be cautious investors or adventerous? and what is your perception of risk? and what risks are you willing to assume? (inflation, interest, capital and/or shortfall risk?)

need more info

johnofhertford

If you don't have other savings then a mini cash ISA sounds like a good idea. National Savings seems to have about the best rate at the moment (5.30%) You can do a search for the best account here:
http://www.moneyfacts.co.uk/searches/savings.aspx?accounttype=3&pageid=6

poohzee

Hi
Thanks for the replies, we dont need the money at all, we are in our early 30's, so probably at least 10years. we are looking for growth and although regualr income would be nice it is not necessary. We are probably cautious, as never done this before, thanks for your advice.:D

ReportInvestor

High growth and caution tend not to be easy bedfellows - sometimes even polar opposites.

If you are happy with 5.3% no tax and no risk, then I would endorse joh's suggestion of the National Savings ISA. Don't use the income and let it all roll up tax free .

You ought to have tax free mini-cash ISAs before branching out more adventurously IMHO.

Do you have other rainy day savings?

poohzee

Hi RI
No we dont have any other savings - although happily we dont have any debts except or mortgage...we do have a flat that we rent out but thats about it so the National Savings ISA sounds best, thanks:kisses3:

ReportInvestor

If the flat rental makes either of you a higher rate taxpayer, then the cash-ISA will be even more worthwhile .

The ISA has to be held individually, not jointly (although you could split the money and open two).