What to do with approx £50,000 savings?

Alpaca

Stevie_Palimo wrote: »

Don't be offering advice to people as some may take it seriously and you cannot possibly steer someone in the right direction of making there money grow, You are no finance whizz and if you were there would be no need to tout for business on a forum.

The OP was asking for thoughts on what to do with savings so I shared a few thoughts. Not claiming to be a whizz or anything, just shared a bit about the approach I've been taking personally.

I would have thought that any one asking a question like "what should I do with £xxx?" is asking for advice and mature enough to realise they'll get a range of advice in response and will have to make their own mind up at the end of the day.

Also not touting for business ... I don't work for any institution that stands to benefit.

Alpaca

There was nothing particularly shady about the fact that I sent things by PM. I just had quite a few thoughts and some involved comments about personal experiences so between those two points I thought it would be better suited to a PM. manutdsc and I then shared a bit of to and fro about our respective experiences of p2p platforms over PM.

Also, @kangoora we're not the same person!

Wow, people are quick to make speculative and unsubstantiated accusations! Go easy on us both as two newcomers to the forum.

Archi_Bald

Alpaca wrote: »

There was nothing particularly shady about the fact that I sent things by PM. I just had quite a few thoughts and some involved comments about personal experiences so between those two points I thought it would be better suited to a PM. manutdsc and I then shared a bit of to and fro about our respective experiences of p2p platforms over PM.

Also, @kangoora we're not the same person!

Wow, people are quick to make speculative and unsubstantiated accusations! Go easy on us both as two newcomers to the forum.

So you have really useful info on P2P but you can only share it via PM. Pull the other one. The really helpful and trustworthy people on this forum are very happy to openly share general info, and to engage in public discussions.

Alpaca

Archi_Bald wrote: »

So you have really useful info on P2P but you can only share it via PM. Pull the other one. The really helpful and trustworthy people on this forum are very happy to openly share general info, and to engage in public discussions.

As am I. I posted earlier today on a thread about Property Partner. (Would share link but as a newbie, I'm not allowed). Take a look.

jimjames

Alpaca wrote: »

Wow, people are quick to make speculative and unsubstantiated accusations! Go easy on us both as two newcomers to the forum.

Maybe as a newcomer it might be worth taking on board how your actions are perceived by established members of the forums who have seen many similar scenarios over the years. It may be entirely innocent but such actions are usually carried out by those who have other motives.

Alpaca

jimjames wrote: »

Maybe as a newcomer it might be worth taking on board how your actions are perceived by established members of the forums who have seen many similar scenarios over the years. It may be entirely innocent but such actions are usually carried out by those who have other motives.

Thanks - point taken. I guess the problem is that, precisely because I'm a newcomer, I have no idea about any "similar scenarios" that have happened in the past. But I've certainly now been alerted to how this is perceived by established members! (Again, couldn't have known that until now.)

Benefit of the doubt appreciated and I'm certainly going to tread carefully from here on.

And manutdsc - appreciate you sticking up for me. Was genuinely trying to be helpful. That's all.

xylophone

If you are anticipating buying a property, the £50,000 (earning as much interest as possible, look into those interest paying current accounts and "get cycling"), represents a good deposit/emergency fund?

You might wish to ensure that you are paying enough into your pension to ensure the maximum employer contribution and then to start considering investment?

You might start with contributing the maximum to a stocks and shares ISA each year, on a monthly investment basis?

Do some reading first, to give yourself some background and understanding.

A global equity income fund using Acc units might be a good choice to begin with.

http://monevator.com/get-an-isa-life/

http://monevator.com/compare-uk-cheapest-online-brokers/

http://monevator.com/low-cost-index-trackers/

http://www.trustnet.com/News/498202/the-cheapest-global-equity-income-funds-for-your-portfolio/