Investing £1000 - £2000

jai247

Hi All

I am looking to invest around £1000 - £2000 pound and would appreciate some advise.
I already have a Cash Isa which I have around £9,700 in and am not sure if I should put the money into that.

I am prepared to take a bit of a risk on the £1000 but cant decide where I would like to invest the money. I don't really know enough about shares but would be prepared to invest in the share market.

Any advise would be greatly appreciated.

Thanks

Mistermeaner

Sounds like a plan but you need to do a bit more reading and come back with a more specific question(s).

puk999

What percentage are you earning in your cash ISA? Can that £9,700 be placed in high interest current accounts to get more interest?

With regards to the £1000 to £2000, how long can you invest it for?

jai247

I am currently getting around 1.5% in my Cash Isa.

I am willing to leave the money tied up for the £1000-£2000 as I currently dont need access to it.

ggb1979 I dont understand how I need more detail in my question?

If you dont like it dont reply.

Mistermeaner

Hi jai it's not about not liking your question it's not knowing what the question is. My advice is to read more around the topic, on here or net in general and come back if you have specific questions.

I could advise you to buy 2000 lottery tickets, use hargreaves Lansdowne to buy bp shares, put it all on black 13, put it in a pension, buy some vanguard life strategy 80, use charles stanley to open a s&s isa, go and see a financial adviser, pay more off your mortgage, buy gold, buy a ftse tracker, buy bonds......

None are necessarily bad advice but may or may not be correct for you or anyone else depending on so many factors.

From your question it is clear you haven't made much effort to read up on the subject and expect meaningful advice with no effort on your part which will not get you the answers you are looking for because you don't know what your questions are

puk999

I'd reconsider your existing cash ISA and get more money from current accounts starting with TSB Classic Plus (£2000 at 5%), Nationwide Flex Direct (£2500 at 5%), Club Lloyds (£5000 at 4%). See top interest paying accounts.

Consider stocks and shares ISA if you feel like you have enough in cash already (for emergencies and short term spends) and can put money away for 5+ years. Generally speaking, stocks and shares do better than cash when given the time to ride out market ups and downs. If you go this route, start with funds (baskets of shares) rather than individual shares.

EDIT: ggb1979 mentioned pension which is an excellent long term savings vehicle. Post as much information about your situation as possible and the answers should be more specific to you.

noggin1980

ggb1979 wrote: »

I could advise you to buy 2000 lottery tickets,

None are necessarily bad advice

While I almost completely agree with your post and I realise this bit was mostly in jest, 2000 lottery tickets just would be bad advice for anyone. The normal lottery ev is about half the ticket price and the euro millions much worse. The roulette one is obviously not great either but is at the very least an order of magnitude better than the lottery.

The lottery is worthwhile for a couple of tickets to give you something to dream about, to entertain yourself with what you'd do when you strike it rich while you are stuck in traffic but it's never good to invest in for anyone.

Mistermeaner

noggin1980 wrote: »

While I almost completely agree with your post and I realise this bit was mostly in jest, 2000 lottery tickets just would be bad advice for anyone. The normal lottery ev is about half the ticket price and the euro millions much worse. The roulette one is obviously not great either but is at the very least an order of magnitude better than the lottery.

The lottery is worthwhile for a couple of tickets to give you something to dream about, to entertain yourself with what you'd do when you strike it rich while you are stuck in traffic but it's never good to invest in for anyone.

Accept your point fully and yes it was in jest but in pedantic way also not - in the absence of all other info buying lottery tickets may be good advice; if the OP has every other base covered, doesn't care about his 2k but would love the chance to own a yacht on Sunday morning then lottery is probably the best bet.

jai247

Hi all (apart from ggb1979)

You advice has been very helpful and I wish ggb1979 would find another post to clog up with pointless advice, clearly has nothing better to do.

I am still looking at my options and may look into a stocks and shares isa.

Thanks

Ryan_Futuristics

For my money the best investment for a few £thousand is P2P lending

RateSetter's 5 year income has been offering rates around 6.5% recently, while FundingCircle's a little trickier to use well (evidently, from people who've not done so well on it), but has been bringing in 10.6% for me so far (but I'd expect closer to 7% longer term)

You're talking *most* the long-term benefits of equities, with less risk to capital (so far it seems) than bonds