What to invest in with £1000??

Masetw

Hi,

I have always been interested in investing in something e.g shares, isa etc etc.

Just want a bit of advice on what would be the best way to invest £1000 with no investment knowledge what so ever haha.

Any advice would be greatly appreciated.

Regards

Mason

jimjames

Not shares in my view.

I'd either use funds or pick something like the Vanguard LS fund which invests across worldwide markets so you don't need to worry about the allocations yourself.

CLAPTON

Masetw wrote: »

Hi,

I have always been interested in investing in something e.g shares, isa etc etc.

Just want a bit of advice on what would be the best way to invest £1000 with no investment knowledge what so ever haha.

Any advice would be greatly appreciated.

Regards

Mason

maybe tells us a little bout yourself first

what is suitable for a 18 year on JSA is different from some-one earning 100,000 a year

Masetw

Ok bit about my self

22 Year old man currently working for a bank on around 22k a year.

Have about £200 - £300 a month to save/invest

Need anymore info?

Cheers

Mason

kidmugsy

1) Have you any debts that need clearing?
2) Have you got an Emergency Fund of, say, six months' outgoings?

If "no" and then "yes" then
3) Do you plan to save to buy a property by the time you're thirty?

If "no" then by all means try stocks and shares; an ISA would probably be best.

You could, for instance, compare the attractions for you of jimjames's suggestion with the attraction of, say, an Investment Trust ISA. Scroll down to p48.
http://www.theaic.co.uk/sites/default/files/statistics/attachment/AICStats31Oct2013.pdf

Masetw

1) No debts of any kind
2) I have around £4000 in savings currently

3) I dont believe i will have enough funds for property by then and home life is too easy haha

I have around £3000 in a Halifax ISA Saver Direct account and the rest here and there in accounts.

ChopperST

If I were you I'd continue saving for a deposit for your first home.

There will come a time when it is needed. I wouldn't risk it in shares / funds at this stage of my life if I were in your shoes.

Keep rate tarting to the best paying current, savings and regular saver accounts and you'll soon have a healthy deposit saved.

You will then own your own home which (long term) is an asset which will appreciate in value.

planteria

Masetw wrote: »

Ok bit about my self

22 Year old man currently working for a bank on around 22k a year.

Have about £200 - £300 a month to save/invest

Need anymore info?

Cheers

Mason

perhaps you want to buy £1000s worth of shares in the bank you work for. that would depend upon which one it is, for me.

on one hand, you dont have a lot to invest, so the logic of buying a fund makes a lot of sense.

on the other hand, you don't have a lot to lose either. if, for example, i had had no investment at £1000 spare the other week, i may well have bought Royal Mail shares and enjoyed being in that little game. for what it is worth, i would consider putting your money into 1 company, but i would do plenty of research, understand what you are doing, and accept that if you get it wrong you could lose some (or, in theory, all) of your money.

planteria

ChopperST wrote: »

If I were you I'd continue saving for a deposit for your first home.

There will come a time when it is needed. I wouldn't risk it in shares / funds at this stage of my life if I were in your shoes.

Keep rate tarting to the best paying current, savings and regular saver accounts and you'll soon have a healthy deposit saved.

You will then own your own home which (long term) is an asset which will appreciate in value.

this is very sound advice though....if you want to stay in cash get the best savings account you can, and get the best regular saver you can too.

some current accounts are, in effect, good savings accounts nowadays. but working for a bank you might want to be careful how you organise your finances.

Masetw

Well i work for RBS as a contractor so not directly with the bank, working within IT but i dont think ill be buying any RBS shares anytime soon!

planteria

i havent become involved with them either.

i have Standard Chartered shares, and have done well with HSBC shares are various stages. Barclays have turned out brilliantly for a colleague of mine who bought big at their low point. and if Lloyds is sold off as an 'IPO' i might well have a slice:)