Advice for a student

PrinceMuggins

Hi,

I'm currently at university with no debts and no loans. I've just received an inheritance and have in the region of £60-70k to invest. Ideally, what i'm looking for is a monthly income from this but i may have some excess cash left over so ideally, somewhere to place this cash as well. I already have a maxi ISA and the allowance for this year has been used.

Thanks

impy78

PrinceMuggins wrote:

Hi,

I'm currently at university with no debts and no loans. I've just received an inheritance and have in the region of £60-70k to invest. Ideally, what i'm looking for is a monthly income from this but i may have some excess cash left over so ideally, somewhere to place this cash as well. I already have a maxi ISA and the allowance for this year has been used.

Thanks

What about in property?

PrinceMuggins

How do you mean? I couldn't afford to invest directly into property as i'd like to be able to have the cash at hand or with some short notice.

tom188

impy78 wrote:

What about in property?

depends if they want to put all his eggs in one basket in one large possibly overpriced illiquid asset.

though admittedly this can work sometimes for students due to not paying any rent.

Questions.
i presume from your maxi isa you want to invest, or do you want to put it on deposit and take the interest? or both?

Do you have a time scale to invest over - is it for now or the future?

What is in your Maxi ISA, what is your risk profile.

Are you happy research your own investments, or would you consider visiting an IFA?

tom188

PrinceMuggins wrote:

How do you mean? I couldn't afford to invest directly into property as i'd like to be able to have the cash at hand or with some short notice.

Exactly

So you obviously will want to hold a % on deposit.

PrinceMuggins

I'm looking for an income from it over the next 4/5 years to get me through uni. I'm in no real need to take large chunks of it at any point. Ideally, it'll be for a future deposit on a house/flat once i've graduated.

I'm potentially going to the US to study in just over a year so that's why i'd need access to it, in case anything arose.

As for my maxi ISA, at the last statement, there was approx. £25k in it, but i have no need to touch that at all and i'm happy to leave it. As for my risk profile, i like to put 25% in high risk with the rest in medium or low.