Where to put money?

Fantasia

£56000 to put into savings , don't what to take risks.

simarks

Very broad question which needs to be narrowed down to make sure you get the right response.

How long can you keep this money invested?

Do you need it easily accessible or could it be locked away for 3 years etc?

Have you used your current ISA allowance?

Do you want to spread this money about or are you simply looking for a saving account to lump it into?

any more details?

jimjames

Fantasia wrote: »

£56000 to put into savings , don't what to take risks.

Lots of different risks.

Risk of inflation eroding it is invisible until you come to spend it in 20 years and find you can't buy very much.

If you truly want to guarantee your capital is always there then a savings account or premium bonds for part of it are your only options.

If you are more interested in a decent income from it and for long term growth then shares and bonds are worth looking at. If you've not used your ISA allowance this tax year then you should also do that before 5 APril.

chucknorris

It is a problem nowadays, I have another fixed rate bond maturing next week, the best 3 years fixed rate savings bond is only paying 3.1% (so less than inflation net of tax), and so there is point in me keeping it in cash.

I know the OP said they didn't want risk but if the alternative is a certain small loss via a savings account then I am willing to take on risk. If the ftse was around 5,500 I would have put most of it there (especially as my portfolio is light of shares). Even though I don't think around 6,500 is that bad of an investment, I am leaning towards property (although I haven't completely ruled out shares).

What are others doing?

Nicholas-bloody-Parsons

According the todays FT, the FTSE is vulnerable to a drop 20% in the next few weeks.

Frankly, Id temporarily put the cash in a convenient instant access account and wait for developments.

Stocks are suppose to offer some protection against inflation, but the bigger risk is you dont get your initial investment back.

ColdIron

I'd welcome a 20% drop in the next few weeks, a chance to pick up some cheaper assets, 6500 is a bit rich for me right now

chucknorris

ColdIron wrote: »

I'd welcome a 20% drop in the next few weeks, a chance to pick up some cheaper assets, 6500 is a bit rich for me right now

Me too, I've been caught out by the recent rise

Sanchsoot49

Yeah and in the Telegraph today it reports prediction of a FTSE rise to 7200 ..... just shows that no-one knows what is going to happen !

As has been said on here umpteen times - Time in the Market not Timing the Market

ColdIron

Nicholas-bloody-Parsons wrote: »

According the todays FT, the FTSE is vulnerable to a drop 20% in the next few weeks

I may have got my wish sooner than I expected #Cyprus

Monserrate515

Yep.. the "inflation is higher than interest rates" thing is a bit of a problem if you are keeping your money in 'safe' bank account over a long period.. I was reading an article on a site called 'the social trading review' ..which gives a breakdown by country of this 'shortfall' between interest & inflation and sort or argues the case for trying to beat the bank as they put it.

Wooh 20% ftse drop, scary thought.

Glen_Clark

Sanchsoot49 wrote: »

Yeah and in the Telegraph today it reports prediction of a FTSE rise to 7200

A Goldman Sachs Pump and Dump?