Best saving investment advice

softmind82

I have got 40k in cash which I want to invest or save somewhere which can generate me some money.


Please advice.

Thanks

ColdIron

You could start with the Top Savings Accounts link above

Drp8713

If you only want to take the income and leave the capital alone you could feed it into stocks and shares ISA over the next 3 years (current limit £15k)
that way it will be sheltered from tax.

Then could look at something like this, diversified, low cost etc
http://www.fundslibrary.co.uk/FundsLibrary.DataRetrieval/Documents.aspx?type=packet_fund_class_doc_factsheet_private&docid=cdffbf74-8d75-49f0-a790-da5851476352&user=hl_website_documents

softmind82

Any other option for me to put this money for long term to maximum return.

cheers

colsten

Read a book or two on investments, read monevator.com and the personal finance pages of the broadsheets until you feel you have a handle on how to pick investments that suit your circumstances.

ChesterDog

It's not a question with a straightforward, simple answer. It depends on so many factors - not least your attitude to volatility (your capital ebbing and flowing or soaring and crashing) and permanent capital loss. Also, what other money and income or the prospects of those, and your current and future needs may be.

There is a spectrum of risk/reward. To seek possible higher returns means you have to accept higher risk.

There really is no alternative but to do lots of research and learning.

robatwork

What's your attitude to risk? For example:
Risk 1 out of 10 - save it with NS&I. Unless the UK goes bankrupt, your money will stay safe. You will get about 1% interest

Risk 10 out of 10 - Go to a casino and put it all on Red. You will get back 0% or 100%

Lots in between - give us a number.

lisa1970

Hi All, I'm new here and am in a similar situation to the OP having just separated from my partner of many years. I don't wish to hijack this thread so I'll start a new one if I should. Following sale of what was the family home, I'm now renting as I decided I don't want to live in a teeny town apartment and am enjoying a new life in the country instead. I have about £60,000 which I'd like to invest. I do struggle a bit with financial matters, it's just the way my mind is. I did set up a SIPP already with Hargreaves Lansdown. I don't need the money and would reinvest any returns. I have been looking at stocks & shares NISA's and investment funds. Any advice welcome.