Investment - Advice would be appreciated

wozmand

Hi
I have recently inherited £4000, I would like to invest this to hopefully turn this into a larger amount. As the money has come from family I don’t to do anything to risky as it wouldn’t be fair if I wasted hard earned money, equally though they would be proud if I managed to increase it. I wouldn’t really know where to start with this, is there anyone out there that can offer any advice?

Thanks in advance!!!

CLAPTON

wozmand wrote: »

Hi
I have recently inherited £4000, I would like to invest this to hopefully turn this into a larger amount. As the money has come from family I don’t to do anything to risky as it wouldn’t be fair if I wasted hard earned money, equally though they would be proud if I managed to increase it. I wouldn’t really know where to start with this, is there anyone out there that can offer any advice?

Thanks in advance!!!

you can save it in a saving account and more or less guarantee that it will lose value due to inflation

you can put it in premium bonds and more or less guarantee it will lose value due to inflation but you might be lucky and win a £1 m

you could invest it is S&S where it may or may not increase in value but generally, if you wait long enough, it does

you could put it in a pension and get some money from the government

brasso

wozmand wrote: »

Hi
I have recently inherited £4000, I would like to invest this to hopefully turn this into a larger amount. As the money has come from family I don’t to do anything to risky as it wouldn’t be fair if I wasted hard earned money, equally though they would be proud if I managed to increase it. I wouldn’t really know where to start with this, is there anyone out there that can offer any advice?

Thanks in advance!!!

Any idea when you may want to use the money? if you need to spend it on a particular thing at a particular time e.g. a wedding in 2 years time, then you have little option other than dumping it in a bank savings account and hoping that it manages to keep abreast of inflation.

If you are thinking longer term e.g. 5+ years, then you are very likely (but not 100% guaranteed) to do rather better by putting it in a stocks and shares ISA. Your bank will probably be able to offer a facility, or your could use one of the many independent platforms e.g. Hargreaves Lansdown.