investments

daviemartin

Hi I have just retired and received a lump sum, I am debt free and my bank Lloydstsb have had me at 2 meetings, they are advising me to invest £50k into what they call Cautious investments. I have £85K in the Post Office savings account as per the information from your website, is investing another £50K a good idea or too risky not very clever at this.

Davie M.

dunstonh

my bank Lloydstsb have had me at 2 meetings, they are advising me to invest £50k into what they call Cautious investments.

Banks are the worst place to buy financial products. Expensive and low quality. Lloyds almost certainly want to stick you in their dire Scot Widows portfolio funds. That is because it is all they can do.

is investing another £50K a good idea or too risky not very clever at this.

Investing may well be the right thing to do. It may not be. We dont know your objectives. One thing is clear though is that you should not use a bank for investments.

Onawingandaprayer

Pleeeeeeeeeeeeease don't go to a bank for financial advice.:eek::eek::eek::eek::eek:

GeorgeHowell

It's good that though Lloyds have had you in twice for the hard sell you are still sceptical and haven't succumbed. Sadly that is not the case for everyone. Taking out financial products offered unsolicited by a bank is like spending £5,000 on roof repairs with a bloke who has knocked on your front door and told you that he reckons your roof looks like it needs it.

I have written to my bank more than once and told then on no account to contact me via any means with a view to meeting to discuss my accounts etc. They then tried the same tack with my wife (we have a joint current account) so she had to do the same. I have severe reservations about using IFAs too for most purposes but in the vast majority of cases that is infinitely preferable to taking investment "advice" from a bank.

Sceptic001

as i've stated before elsewhere, i know exactly what i'd do, but alas i can't say on ere yet!

Is this an advance notice of imminent :spam: ?

Lube

second income is :spam: he is a asking people to Pm people and is doing it now

Spiggle

Yes,

Post #5 is promoting a ponzi scheme, beware.

All the best,
Spigs

xylophone

Hi I have just retired and received a lump sum, I am debt free and my bank Lloydstsb have had me at 2 meetings, they are advising me to invest £50k into what they call Cautious investments. I have £85K in the Post Office savings account as per the information from your website, is investing another £50K a good idea or too risky not very clever at this.

I would not be happy about taking advice from the bank's tied adviser.

You need to think about your aims and objectives and your risk tolerance.

Are you using your ISA allowance?