Where to invest £14,000?

DemiDee

Hi fellow money savers!

I have had Premium Bonds for as long as I can remember, but having
read the piece on here, I have decided to ditch them and do something
more positive with my cash. I currently have around £14K in bonds and
would value any advice on what best to do with it to maximise its potential.
I have thought about property investment, but my salary is too low since I only just manage to pay the mortgage on this house, let alone another. I'm still trying to get my head around ISAs - it seems you can only put £3000 in there anyway.

Any advice would be most appreciated!

Steve_xx

Put 3k in a cash ISA with National Savings, (Direct ISA). Put the remainder into a Sainsbury's Bank Account (Internet Saver), an ICICI Bank account, or an Icesave Bank account:

Here's the appropriate links:

http://www.nsandi.com/products/disa/rates.jsp

http://www.sainsburysbank.co.uk/savings/sav_internetsaver_is_skip.shtml

http://www.icicibankukhisavepromotions.com/lms_ct/UK_LP/index.asp?PAGEID=1&USERTYPE=G_ICO&gclid=CJeT6d_Xho4CFQm_EAodXRwHOg

http://www.icesave.co.uk/

Aegis

DemiDee wrote: »

Hi fellow money savers!

I have had Premium Bonds for as long as I can remember, but having
read the piece on here, I have decided to ditch them and do something
more positive with my cash. I currently have around £14K in bonds and
would value any advice on what best to do with it to maximise its potential.
I have thought about property investment, but my salary is too low since I only just manage to pay the mortgage on this house, let alone another. I'm still trying to get my head around ISAs - it seems you can only put £3000 in there anyway.

Any advice would be most appreciated!

Depending on how much you like risk, you could also use the £4000 stocks and shares portion of your ISA to invest in the stockmarket, bonds and/or gilts, which would net you additional tax-free savings. I believe that NS&I also do tax free certificates, but I'm not sure if you need a minimum investment to use those.

Essentially I guess it's all about your attitude to risk and whether you want growth of your capital or regular income (or a combination of the two)

Bokkens

You can put away £7000 a year in a tax free wrapper £3000 in a Ias and the rest in Isa stocks.if you are married this alao applies to your wife/partner.
This is due to increase by £600 in April 08.
If you can't wait until then,I would put £7000 in ISA's and ISA stocks the rest in a high interest saving account unfortunately you will pay tax on these accounts but after April 1st you could shift it into next years ISA allowance.
Alternatively if you have children you can invest £1900 in a tax free saving account for each child each year.