Any thoughts?

Cerredwen

Message deleted

Sun-Is-Fun

NS&I Index linked savings certificates. Have you looked into those?

Kered

mjfp509 wrote: »

NS&I Index linked savings certificates. Have you looked into those?

I am going for these this year instead of a cash ISA, the interest rate is already 2% higher than an ISA and looks like going up for the foreseable future.

bengalknights

Cerredwen wrote: »

Thank you both. I haven't looked into NS&I's at all but I am doing now! They seem like a very sensible option particularly for the younger child. I still like the idea of risk taking though...

For risk taking consider the barclays EFT funds that invest in regions ie Asia Pac fund, BRIC fund,Africa Fund etc.

DiggerUK

Cerredwen, a bit sweet and sour getting an inheritance. Most of us have been there.

A no brainer for the NSI IL, definitely buy.

As you say you don't mind a bit of risk then consider gold. Many claim all kinds of risk and disadvantages for gold, as far as I am concerned there is none. For a 5 year plus time frame to me it is also no brainer.
It won't ever become worthless either, unlike some options you are considering.
Best of fortunes.

opinions4u

I don't think investing is the right thing to do, although I admire your outlook.

The youngest is 13 - so possible university place in just 5 years. I don't think that timescale justifies investing.

So for me, I'd stick £15k in the index linked NS&I account and the balance in an easy access cash ISA (Halifax, Santander, Barclays were the top payers last time I looked). If you really are keen on something more exciting, go for less than £10k and wrap it in a stocks and share ISA.

If your eldest is going to be a non-taxpayer for 3-5 years, then look around for alternatives to NS&I for index linked savings. Birmingham Midshires were outpaying them until recently, but have pulled their product - I'd guess a new one is due.

Good luck!

DiggerUK

Cerredwen wrote: »

... The sadness is that my Dad left me the money, and the irony is that he was a Financial Advisor, and the one person I could have relied on for sound financial advice!
I'm not sure about gold. ..... What do you think about rare earth metals? .....

Don't think me and your dad would have seen eye to eye, but I guess you also had your times with him. I did with mine.

I'm in to gold as I firmly believe it to be a reliable store of wealth that can't be price rigged.
Rare earths are speculative and rely on a healthy world economy. Not my area of expertise. They could be found in funds that include other metals such as gold.