Best way to invest £1000

fedster

Right i have got £1000 to invest, but i am unsure what to do with it,the last time i invested in something i chose an Legal and General ISA,but from comments on here, that seemed to have been a bad move, i am looking for something which is relatively risk free, and is not locked away for years like my ISA.

Thanks for reading :j

Loughton_Monkey

ISA's come in all sorts of types and flavours. To simplify it, though, there are 'Stocks & Share ISA's', and there are 'Cash ISA's'. Within the category of Cash ISA's, you can choose to have instant access, or you could choose to tie the money up for 1 year, 2,3...5 years etc.

If you want to "invest" [as per your post] then literally this means your capital will be at risk. 'Investments' for short periods ["not locked away for years"] contain more risk than investing for the much longer term.

If you want to 'save' then consider an ISA if you are a taxpayer. Savings rates, though, are very low and tend to be under inflation. So saving it is better than keeping it in cash, but it is unlikely to keep up with inflation.

There is no "Best Way" generally for anyone. There are always compromises or pros and cons. That's true even when all facts are known about a person, their age, tax position, other financial status.... But we don't know anything about this with yourself.