Regular Savings

S_Raeburn

I am confused. I have about £200 surplus income every month that I want to save but am unsure what to do with it.

There are so many different products and using comparison sites do not always give the best results. I would be happy to tie the money up for upto 15 years and I have heard about bonds which last upto 10 years but with a regular monthly deposit instead of an initial deposit but but do not see them on the bonds section of comparison sites.

My main aim is for this monthly £200 to yield £40k in the shortest possible time, my maximum time is 15 years and I would only need 1.4% interest to achieve this but as I said the sooner the better.

Any advice would be appreciated.

ashaput

are you stick on regular savings only to invest your surplus? each person will have different option in investing their money. someone out there will provide you with the best regular savings.
but if i were you i would like to invest my money into gold coin. as i know, this is the best investment. my friend's mother even say within 20 years she found the gold's cost increase for more than 300%.
i know i don't help you in regular savings, but i just want to give another great option

opinions4u

See an IFA.

www.unbiased.co.uk

Thinking longer term means most regular saver accounts (limit of 12 months) don't do what you want them to do.

S_Raeburn

Gold is a good option. I already dabble in silver - and some analysts reckon that silver will out perform gold in the future, but to go upto gold I would need a safety deposit box and none of the banks in my area have this on their websites. I am a financial virgin and do not know where to go to find out if there are any safety deposit boxes in my area. I could easily afford the price of a sovereign every month but without somewhere safe to keep them i am snookered.

My family have a trusted IFA and would get his advice before any major - for me, investment but I would like to know the options so that I could research them fully before I speak with him. I know that he will advise the best for me as he has all the other members of my family but I would like to know what I am talking about when I speak with him.

Any thoughts that you could give me would be much appreciated.

DrSyn

opinions4u wrote: »

See an IFA.

www.unbiased.co.uk

Thinking longer term means most regular saver accounts (limit of 12 months) don't do what you want them to do.

1.If you see a IFA, make sure before go, you know how much "risk" you are willing to take.

2. If you do not understand clearly what he wants you to put your money into, get him to explain in a way you can understand. If he cannot or will not go elsewhere.

3. Hopefully the advisor has chatered or diploma status.

4. Paying the advisor by fees and not commision,will make them more "indepedent".

5. What BBC1 Panorama 13/06/11 "can you trust your bank"