£16,500 to invest ?

IGraham

Hello
Need some advice on what to do with £16,500
It will soon be transferred to my Lloyd’s current account
I'll be drawing out £50 a week for the next 4.5 years – when I'll hit state retirement age
Where should I put the dosh to get the best return

Eco_Miser

High interest current accounts, such as Lloyds Club 4% AER on £5000, maybe TSB and Nationwide for 5% on £2000 and £2500, Tesco, BOS for 3%, Santander 123 for 3% less £24 pa would take it all, but is the lowest of the 'good rate' accounts. In all cases you can meet all the required conditions easily, see a multitude of threads on the subject. Check the Terms and Conditions for each account carefully.

coyrls

VeronikaSmith wrote: »

You may try using automated wealth management services based in the UK. Most of them invest in portfolios consisting of ETFs. ETFs are well-diversified and highly liquid. They are traded several times a day.That's why if you need money back you can effortlessly withdraw it.
Passive investing offers quite stable returns, although not the very high ones. If interested, check out Zen Assets website. Zen Assets is an automated wealth management service with an entry barrier of 10 000 GBP.

This would be totally inappropriate for money that you plan to spend over the next 4.5 years, so please ignore this advice. I've reported the post as spam as it seems to be promoting an obscure service.

jimjames

VeronikaSmith wrote: »

You may try using automated wealth management services based in the UK. Most of them invest in portfolios consisting of ETFs. ETFs are well-diversified and highly liquid. They are traded several times a day.That's why if you need money back you can effortlessly withdraw it.
Passive investing offers quite stable returns, .

Looks like spam to me.

Passive investing offers no more stable returns than any other form of investing and seems totally unsuited to someone wanting to draw down capital in the next 5 years.

IGraham

Thanks for the replies
The 'Spam' advice I would have ignored regardless
I'd searched and read posts that looked simular to my needs, so did have an awareness of Lloyds Club, TSB, Nationwide etc all of which have a top end cap and time limit, Santander 123 does look like the least fuss option.
Thoughts ?
Could I open and invest the max (5000) in Lloyds Club then close the account when the year is up and revert back to the classic current account ? Would I have dropped the Lloyds account totally in favour of the Santander
Many things to think about

Eco_Miser

Lloyds Club current account does not have a time limit, neither does TSB classic plus or Santander. Only Nationwide is limited to a year (and the Club Lloyds Monthly Saver, which is replaceable).
Of course these accounts will lose the high interest sometime, but by then there may well be something else to replace them. For instance my Club Lloyds account used to be a Lloyds Vantage account.
Until then, make hay while the sun shines.