£10,000, what should i do with it ?

Legacy_user

We've never really taken a great deal of interest in investment etc, but thought I'd throw this one in the pot. We have a spare £10,000 in an account doing nothing really and it is in effect dead money as it won't be required hopefully. Any suggestions ?

wongseefu

Hi there,

Thats good your taking an interest now, l'm no expert but l would recommend a Maxi ISA which you can put in £7000 for this tax year ( Be quick cos this tax year is ending pretty soon). Depending on your attitude to risk you can tune which type of equities you invest in.

The best is to go to a local independent financial advisor.

Regards, Wong

jem16

Followed by the remaining £3,000 on April 6th.

ey_up

I'd probably put £3000 in the highest paying cash ISA - barclays currently as mentioned on this site.

The rest I'd split across a few investment trusts to spread the risk across the stock market.

However that assumes you dont mind the risk of the market. Of course it may go down but if you got no need for the cash anytime soon the stock market usually performs well (we talking over a few years) but again I suppose it down to luck.

ickster

What should you do with it?

Give it to me?

Naetha

If there's two of you (which the "we" indicates...)

Open two cash ISAs, one in each name and put 3k in each of them before April 5th. Then on or after April 5th, you can put in the remaining 4k, and any other spare money (up to £3k/year each).