aLTERNITIVE sOLUTIONS wine investments.Anyone use?

innovate

funnyguy wrote: »

Sent companies details from 'Mutualpoints' website.[they send various daily offers]Then applied for brochure ,

So Mutualpoints will be cashing into your investment to start with.

funnyguy

Thanx for comments everyone.Was hoping to find someone who invested in wine to comment as well.Decided to look elsewhere.Might just stay with Santander when 3.3% ISA finishes. next month.They are offering 2,5% rate for 2 years for 123 customers.Though rather confused whether I can pay any extra money in after 5th April on top of transfer?

innovate

It's 2 years fixed, and it says "Additional deposits/withdrawals are not permitted during the fixed term" on the front page
http://www.santander.co.uk/csgs/Satellite?canal=CABBEYCOM&cid=1195845566878&cidAgrup=845616358929450&empr=Abbeycom&leng=en_GB&pagename=Abbeycom%2FPage%2FWC_ACOM_TemplateY2&posSel=1

Fixed rate, fixed term deals invariably put restrictions on the number of deposits and/or the time you have for making deposits.

dunstonh

With the dire returns on cash Isa,s this coming tax year ,Iwas looking at the above company as an alternitive to Isa,s.Has anyone had experiance with the above company,and what do they think?

Talk about diving in at the deep end. One minute you are in cash, the next minute you are looking at unregulated investments (no consumer protection) which speculate on price movements and its an area you know nothing about and is pretty rife with dodgy options.

I fail to see why people seek out unconventional (other than larger investors who dont mind a dabble). The conventional may be a bit boring to some but it avoids most of the issues that exist in the unregulated world.

dealer_wins

You will get a better return from flushing £5000 in £50 notes down the toilet, because not all of the notes will go down the pan when you flush.

With this company they all will.

jimjames

dunstonh wrote: »

I fail to see why people seek out unconventional (other than larger investors who dont mind a dabble). The conventional may be a bit boring to some but it avoids most of the issues that exist in the unregulated world.

Hence my (unanswered) question about S&S ISAs. Why would you go straight from cash to something that is at very high risk of fraud without any investments in between? Makes absolutely no sense to me and would appear to mean there is no appreciation of risk whatsoever.

funnyguy

.Just to clarify.I have built up £25000 in cash ISA,S over the years .I am due £50,000 in the next 18 months with lump sum pension/and endownment maturities,and I was just enquiring about 'Wine investments'.I would not have commited to it without sound advice.Its just like many others this year with the low ISA payouts I am looking elsewhere for a better return. I am looking at premium bonds now as the risk is not that bad with such low rates.I suggest people read my first post without thinking of armmageden

srcandas

funnyguy this always happens when such a request is posted but it is with good reason and very much good intent.

Many from suckers - through the naive - to just badly informed are getting ripped off by an enormous population of from serious organised crime - through thieves - to naive business (used in the loosest sense) men.

And the replies are targeted at all those who may pass by your thread as much as to yourself.

When I first arrived here I thought some replies where over the top but having seen the sob story posts from those who asked too late I now understand. Times are hard and people are desperate so the good folks here with their harsh words are certainly needed.

:beer:

dunstonh

.I am due £50,000 in the next 18 months with lump sum pension

Are these money purchase pensions or defined benefit pensions? Since 2006, it is no longer the best option to take the max lump sum on defined benefit pensions most of the time. Maybe not taking the lump sum is better?

I was just enquiring about 'Wine investments'.I would not have commited to it without sound advice.

Advice would mean an IFA. An IFA would not recommend someone with no real experience in investing and a relatively small amount of savings jump into a speculative unregulated area which is rife with scams and little or no consumer protection.

Its just like many others this year with the low ISA payouts I am looking elsewhere for a better return.

Which is a fair enough objective. However, if you think of risk as a sliding scale, then you were basically looking at cash at one end and wine at the other and ignoring everything in between.

I am looking at premium bonds now as the risk is not that bad with such low rates.

Premium bonds suffer inflation risk and shortfall risk. They are pretty poor value for money unless you have maxed out other tax efficient options and are a higher rate taxpayer.

I suggest people read my first post without thinking of armmageden

It is your savings Armageddon that we are trying to prevent.

funnyguy

I am not that up on pension jargen these days.I worked for the Pru for 5 years and can take a lump sum of £23000 at 60 and a pension of around £3500 per annum or no lump sum and approx £5200 per annum.I worked it out last year sometime that I would have to live to about 82 to be better off not taking lump sum.Also I will prob work part time at 60 so for tax purposes the lump sum would be better for me.to keep me under tax threshold.