need advise with 40k investment

busajohn

Hi everyone and thanks for your time . I have just been left some money £40k and want to make it work for me . I want to invest to make me some money . No knowing a lot about banking or savings I'm not sure if to put it in a bank or isas ..Any advise .The money will be left in and not touched ..thanks

jimjames

If it will be left and not touched then putting at least a portion of it into investments via S&S ISA or pension would be worth looking into.

There is no point keeping long term money in cash if you don't need it.

More info on monevator.com and other info on hl.co.uk but cheaper options are available.

xylophone

Perhaps you could dip a toe into the stock market using the whole of this year's ISA allowance (£11880 now and an additional £3120 in July)- iweb might suit as a platform?

https://forums.moneysavingexpert.com/discussion/4955959 see post 13

Reading Tim Hale's book Smarter Investing has helped other posters who are starting out on building a portfolio.

You might consider making a payment into your pension?

You might consider opening current accounts which pay interest and can have other benefits?

Look at TSB Classic Plus (you can have two of these), Nationwide Flexdirect, Santander 123 etc?