Re: £20k to invest but where?

dunstonh

money laundering applies to tax evasion as much as it does to drugs and terrorism.

blackpoolowl

the money i have SAVED is not tax evasion. it is from selling my house 18months ago & most of the funiture (i moved into a fully furnished place). it was put into the bank by my soliciter , i took it out to lend to my aunt for the deposit on a house & i put it in my safe when i got it back instead of the bank where i was getting NO intrest.

please dont connect me with the tax evaders,drug pushers or terrorists. that is just silly.

still not had real advise on where to invest.

Tayus

did you get my private message?

CurryKing_2

have i missed somet here? :-*

Neil

blackpoolowl

just recieved your pm tayus. thx

i deleted my original question because after reading it , it did sound like i had something to hide, which is deff. not the case. i should have explained better but i simply didnt have the time to write an in depth question!
my appologies

dunstonh

first post was deleted so my response to it as now at the top. That is why it makes no sense.

the money i have SAVED is not tax evasion. it is from selling my house 18months ago & most of the funiture (i moved into a fully furnished place). it was put into the bank by my soliciter , i took it out to lend to my aunt for the deposit on a house & i put it in my safe when i got it back instead of the bank where i was getting NO intrest.
please dont connect me with the tax evaders,drug pushers or terrorists. that is just silly

You were the one to first mention money laundering by saying its not linked to drugs or terrorism. I was just pointing out that it also includes tax evasion and benefits fraud.

If you have a valid reason to hold all that cash, then what do you have fear from a bank's money laundering checking.

A non account holder suddenly turning up with that sum of cash should immediatly put person on guard. A few questions asked and proof given should resolve any concerns.

As for advice on 20k, you are not going to get it here because 1) there are hundreds of places to invest money and you have posted nothing to help filter down the options and 2) providing advice here like this would be a breach of the FSA rules. If you want ideas and things to look into for researching where to invest then thats fine but give us more information.

ED

blackpoolowl – will you require instant access to your funds, or can you give 30 days notice? Or indeed 60 days, or 90 days notice of withdrawal?

blackpoolowl

i should be able to give 90 days. i dont have a mortgage no intention of moving house . i got my inheritance alot earlier than expected! my mother signed over our family buisness health reasons. looking for a comfortable retirement in 17 years time. i am 33 years old!
thx for replys

ED

Presumably you have used this tax year's ISA allowance (eg. £3,000 in Mini Cash ISA?)

Maybe you'd benefit from seeing a financial adviser, in case a (further?) pension arrangement would be most suitable for your £20,000. (Wish I could retire at 50, by the way!)

Some ideas of instant access online accounts :

5.65% AER/gross offered by Cahoot effective September 2nd (currently 5.50% AER) – but the a/c needs to be opened before end-August.

5.40% gross with Birmingham Midshires

5.30% gross with Leeds & Holbeck

If you're into regular, monthly saving, Derbyshire Bdg Society offers 5.85% gross for up to £1,000 deposited each month for a year. Perhaps you could filter in £12,000 – meanwhile keeping it in one of the above a/c's until required for each Standing Order payment to Derbyshire.

Reaper

As stated before we need more info to give a proper reply eg what is your attitude to risk, willingness to tie the money up for long periods of time, CGT limits used up? etc

When you say your want to "invest" that implies the stock market, or perhaps you meant "save"?

Good advice on safe savings has been made above, but if you were thinking of the stock market a good IFA would be useful as there are lots of questions to answer.

So I'll just give a couple of suggestions:

Currently the UK economy is strong but the stock market is weak due to global concerns (oil, terrorism, possible Chinese economy overheating).

If you think the global concerns are overblown then invest in the UK. Perhaps one of the many UK Tracker funds (because their charges are low) or the Fidelity Special Situations (higher risk) where the much respected fund manager has made great returns over a long period, although it has been lackluster for the last few months.

If you think the global concerns are true and will get worse then a radical approach is to invest in commodities (eg oil) and the companies which produce them. An example would be JPMF Natural Resources.

Which is the more likely? If I knew that I'd be rich! I have largely left the stock market, leaving just a small amount with Fidelity and used the money towards paying off my mortgage instead. So personaly I have taken a pessimistic view.

Normally I would suggest using a discount broker to cut the fees but they are really only suitable for people with a good knowledge of investments. If you are not and you really want to invest in the stock market then I think you should go through an advisor.