Savings/investments

rustie

Hi all
A quick question - we have £50k to invest and I'm thoroughly confused as to the best place for it...

Cash ISAs are already done...
How about Peer to Peer lending?

We'd be happy to lock this away for 5 years or more...haven't got a clue about stocks and shares...

Thankyou

Linton

For that sort of money over much more than 5 years my belief is that you are best off investing in shares and funds. If you want to go that way your two options are to get a clue about them yourself and/or get an IFA to come up with a plan.

droopsnoot

First thing would be to have a look through this board as there are lots of very similar questions and a lot of posted ideas. Trouble is, the more you read the more confusing it will get, for a while at least.

For any more detailed stuff you'd need to post more information, level of current debt, other savings and investments, pensions, attitude to risk, and so on.

jimjames

rustie wrote: »

Hi all

We'd be happy to lock this away for 5 years or more...haven't got a clue about stocks and shares...

Thankyou

You can read up about S&S ISAs here

http://www.hl.co.uk/

The limit is just over £11k per year, less anything you've put in cash ISAs.

So if there are 2 of you then you can put £22k a year in, act quickly and you can use this years allowance and next year's from April which will get over £44k of your money in a tax free shelter.

xylophone

If you go the funds route, Interactive Investors might prove cheaper.
http://www.iii.co.uk/

rustie

Thanks to everyone who has replied - as one post said, there is so much info on these forums which is great, but sifting through it all has left me a tad confused...
I shall look at the websites mentioned and take it from there...thank you again..

moneyfoolish

You could use the current standard i.e. Santander 123 current account which will give you 3% up to £20,000 before tax and allows you to open 2 accounts. That would take care of £40,000. You have to have 2 direct debits against each account and put in £500 per account each month although you could move that to another account very quickly if you wanted to do so.