£15,000 Investment

domhurley

Hi, I'm sure this hasa been answered before, but I am due £15,000 from an insurance claim. Where is best to invest this ?

Thanks
Dom

Eco_Miser

When do you want to spend this money?
What is your attitude to risk?
It makes a difference.

jimjames

Perfect amount to fit inside a S&S ISA if you're looking for investments and haven't already opened one or a cash ISA this year.

Then need to decide what to invest in but plenty of choice to fit most risk profiles.

Or could put in pension depending on your age and situation.

sg1000

I would have said, copy my portfolio....but most would disagree. You need to work out when you need the money and how much you can afford to lose.

Vortigern

domhurley wrote: »

Where is best to invest?

Do you mean invest? - or do you mean save?

Invest - put money in stock market, perhaps get dividends, make a profit, or a loss.

Save - put money in bank, get interest.

Which is it?

badger09

Do you have any debts?

Paying off high interest loans might be the best 'investment'.

If you give more information about your financial situation you might get more meaningful responses

enjoyyourshoes

What are your objectives ?


How can the £15 K help you achieve these objectives ?


It may as the above commentators involve saving/investments or it may be something completely different ! (OU degree etc.)

HardCoreProgrammer

To the OP, yes your question has been answered many times in the past - please do a quick search of this forum.

And it may be a good idea to familiarise yourself with the guides and articles on savings in this website (e.g. http://www.moneysavingexpert.com/banking/?tab=sect7), before coming back with more specific questions on this forum.

Finally, some background information (how old you are, how much savings you already have, your timescale and attitude to risk) may not go amiss.

brasso

Presuming you have no debts, including credit card debts etc, and presuming you already have a bit of cash stashed away for a rainy day and presuming you have an average risk profile....

then if it was me I would put it in a S&S ISA and invest in 3 or 4 low-cost trackers to give me some diversified exposure to equities. If I was feeling nervous about global stock markets I might drip feed the purchases e.g. 5 x £3K spread over a few months.

But I'm not you, so DYOR

Added: if you've no pension, and if you don't mind locking it up till you're 55 I would open a SIPP, get the 20% or 40% tax refund and proceed as above re investing it.

domhurley

Thanks for all this. I'm married with a 5yr old daughter, a mortgage of about £40,000, about £20,000 savings offset against the mortgage, so do I use it to offset or a better way ?

enjoyyourshoes

If your partner is a none tax payer you could earn 3.6% interest pa from the £ (£5K Lloyds, £2K TSB & £8K Santander). Is that a higher rate than your mortgage ?