30k To Save, Where To Put It?

cockneysean

Hi!

If I have £30,000 in cash, where is the best place to put it, for a LONG TERM gain?

How much could I possibly gain, say, over 10 or 15 years? And is it best to invest it all in the same place or split it up?

All responses will be appreciated!

brasso

cockneysean wrote: »

Hi!
If I have £30,000 in cash, where is the best place to put it, for a LONG TERM gain?

We'll be able to answer this question in 30 years -- or whatever you think of as long term.

Sorry if that sounds glib, but really, how can anyone answer that?

The internet was almost unheard of by the bloke in the street until close to the millennium. Look how it's changed the world.

cockneysean wrote: »

How much could I possibly gain, say, over 10 or 15 years?

A million pounds? Ten million? No, hang on. If you managed to guess correctly the top FTSE gainers every week for 30 years, compounding your gains I imagine you could make a good few billion. Possibly even a trillion.

R_P_W

Do you want to invest it or do you want to save it?

maryjanell79

Couldn't tell you how much you could expect to make and this all depends on your appetite for risk I guess.

Personally I would split the money between a Cash ISA and a Stocks & Shares ISA or SIPP.

Diversify your portfolio and choose your investments carefully depending on your appetite for risk

But make full use of the tax free allowance!

donniej

Generally speaking, stocks + shares are considered like a good bet for long term investments. The key is when you need to withdraw - if you need to withdraw when markets are down, you could be worse off than when you started. However, with a longer term horizon you could withdraw when markets are on an up (not necessarily at the point at which you need the money) and therefore not be so affected by market movements. As others have said though, this is by no means guaranteed - any form of investment involves an element of risk, so you could end up losing money (but a longer time horizon helps reduce the chances of that.)

Another option is property, though prices are pretty high currently.

Definitely make use of your tax allowance - ISAs and SIPPs are good for this. You can save/invest up to £11k this tax year (up to tomorrow midnight!) and another £11k next tax year (from Saturday) in ISAs tax-free.

innovate

maryjanell79 wrote: »

But make full use of the tax free allowance!

We have no idea whether the OP is, or might be in future, a tax payer. We also have no idea whether they have any debt / mortgage / dependents, how old they are etc etc etc. We also have no idea whether the OP is still on benefits (like back at end of 2011, according to their last post) - these would clearly be impacted by £30K savings.

In the absence of any basic information, it is utterly impossible to make any sensible suggestions.

beckysbobbles1

innovate wrote: »

We have no idea whether the OP is, or might be in future, a tax payer. We also have no idea whether they have any debt / mortgage / dependents, how old they are etc etc etc. We also have no idea whether the OP is still on benefits (like back at end of 2011, according to their last post) - these would clearly be impacted by £30K savings.

In the absence of any basic information, it is utterly impossible to make any sensible suggestions.

I think suggesting tax efficent saving wrapping such as ISAs is always the first port of call when it comes to saving/investing.

I uderstand that any debt in theory should be repayed before investing, unless your likely to get a higher return from investing than what your paying on your borrowing.

30 years is a brilliant length of time to invest. I'd suggest speaking to a IFA. Although they may charge for their advice, they will no the best types of options out there.