£20000 fix for 10 or more years

kingrulzuk

Good morning all

I will be getting 20k by end of this week and thinking what to do with it.
Thinking of puting away for 10 or more years as i dont need it now.

No loans
House paid off
have work pension scheme
have money for rainy day
NISA is full for this year.

Plz advice

somethingcorporate

You're looking at investments for a decent return over that period of time rather than a fixed savings product. Do you have a partner with any NISA room to shelter it from tax?

kingrulzuk

No i just want to put fixed for 10 or more years and forget about it.
No i dont have a partner as im too busy with work

ManAtHome

Think the only 10 year one is from Leeds Building Society - gross rate 4% pa. Interest has to paid to another account, so not really a 'fire and forget' one. Details here http://www.leedsbuildingsociety.co.uk/savings/bonds/10-year-no-access-income-bond/

somethingcorporate

The issue is in 5 years time 4% may be a pitiful rate and there could be high penalties for exiting.

If you're going to be lazy looking after your money (i.e. low involvement) expect the return to be poor.

kingrulzuk

ManAtHome wrote: »

Think the only 10 year one is from Leeds Building Society - gross rate 4% pa. Interest has to paid to another account, so not really a 'fire and forget' one. Details here http://www.leedsbuildingsociety.co.uk/savings/bonds/10-year-no-access-income-bond/

Thank you i will check the site right now

kingrulzuk

somethingcorporate wrote: »

The issue is in 5 years time 4% may be a pitiful rate and there could be high penalties for exiting.

If you're going to be lazy looking after your money (i.e. low involvement) expect the return to be poor.

I understand what you trying to say. but im a single father and i have a full time job.
i wish there was more hrs in the day then just 24

kidmugsy

You could always bung it into the investment scheme at Personal Assets Trust. They are currently invested "defensively" in cash, gold, and government bonds - i.e. they expect the stock market to sink in the near future - and say they are longing to invest heavily in equities when that crash has happened.

It's a very respectable outfit of the upright Edinburgh sort: you could even go to shareholders' meetings and talk to the fellows who run it.

jimjames

kingrulzuk wrote: »

I understand what you trying to say. but im a single father and i have a full time job.
i wish there was more hrs in the day then just 24

Based on your signature you may want to wait until later in the year.

Putting something away for 10 years when it may be in a foreign country and a different currency very soon probably isn't a very good idea.

Personally I'd look at putting it in something like the Vanguard LS100 or LS80 investment if you are looking at 10 years plus.