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Invest or Save?
bob.matthews106
Posts: 2 Newbie
Hi
I have £70000 to invest or save
I want to retire in 5 years (at 62) and need enough money off this £70000 to last me 5 years (the £70000 will stay where it is earning interest for another 5 years)
My problem is my bank is trying to persuade me to invest it in government stocks and bonds and a big chunk into maxi and mini ISA's
Will this give me a decent return or should I put it into a high interest savings account paying (currently) 7%
Cheers
Bob
I have £70000 to invest or save
I want to retire in 5 years (at 62) and need enough money off this £70000 to last me 5 years (the £70000 will stay where it is earning interest for another 5 years)
My problem is my bank is trying to persuade me to invest it in government stocks and bonds and a big chunk into maxi and mini ISA's
Will this give me a decent return or should I put it into a high interest savings account paying (currently) 7%
Cheers
Bob
0
Comments
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My problem is my bank is trying to persuade me to invest it in government stocks and bonds and a big chunk into maxi and mini ISA's
What you going to the bank for? They cannot give proper investment advice.Will this give me a decent return or should I put it into a high interest savings account paying (currently) 7%
Will you be in receipt of pension credit at that age? Will you be a non, lower, basic or higher rate taxpayer?
Do you accept some invest risk? What is the 70k for after retirement?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.0 -
>> and a big chunk into maxi and mini ISA's
Interesting
How do they suggest you invest a big chunk of 70k into maxi and mini ISA's.
(or even a maxi or 2 mini ISA's)0
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