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Advice Please on Savings
beverley1471
Posts: 136 Forumite
Hi, I am trying to do the best with my savings but I'm unsure of where to put my money. I have read abit about investing but really can't understand it to be honest.
Abit of information about me. I have paid off my mortgage already. I have a pension plan with the public sector. I have six months emergency money set aside in a easy access savings account. I have used my cash ISA for this year already. I have £40,000 in a savings and I want to make the best decision of where to put it.
I have tried to read about investing from the links people give but I really don't understand it. I don't like to much risk but i'm happy to tie the money up for afew years as i'm not 40 yet. What advise can people give me on making the most out of my savings?
Abit of information about me. I have paid off my mortgage already. I have a pension plan with the public sector. I have six months emergency money set aside in a easy access savings account. I have used my cash ISA for this year already. I have £40,000 in a savings and I want to make the best decision of where to put it.
I have tried to read about investing from the links people give but I really don't understand it. I don't like to much risk but i'm happy to tie the money up for afew years as i'm not 40 yet. What advise can people give me on making the most out of my savings?
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Comments
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My advice is if you don't understand investing do not go down that route. Put your money in savings accounts that are fixed for 2-5 year fixes so when they mature look around again for the best rates.
In the meantime read up on investing so you can decide if it for you and of course keep adding to cash ISA.
F40 -
beverley1471 wrote: »I have tried to read about investing from the links people give but I really don't understand it. I don't like to much risk but i'm happy to tie the money up for afew years as i'm not 40 yet. What advise can people give me on making the most out of my savings?
Why not consider professional advice from an IFA to help you understand your options?
Jabba0
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