£30,000 to invest for 5 years...

ViolaLass

ronaldadio wrote: »

Roughly £40,000 PA nett. Will be working til I'm at least 65. Outgoings are around £3,000/ month including rent.
We had also thought of buying a flat/ cheap house for £30,000 and renting it out. This would reduce our monthly outgoings and at the same time leave the £30,000 in property that may, or may not increase or decrease in value.
Harp on as much as you want, I'm all ears my friend

Can you get a £30k flat that's in a state to be rented? What amount would it bring in per month? What would that give you after expenses and tax? What if there's no tenant or they trash the place?

badger09

jimjames wrote: »

I seriously wouldn't do it hence the current account suggestion. But some seem to be attracted to cash ISAs regardless of their relative merits.

Having said that, I've taken out a cash ISA this year for the first time for 15 years thanks to some comments on here. It currently has a balance of £20 (after moving £300 through it) and will pay me back £120 over the next 12 months.

OK

As a home for £300 in order to gain £120 I'd agree a cash ISA is great.

However, your post could be interpreted as £15k in a cash ISA and I know that isn't what you were suggesting