I have £9000 to invest over 3 years

esi22uk

Hello. Can someone please give me some insight into how best I can invest £9000 for three years and get the best return? Many thanks and kind regards
Nana

george4064

For three years, I would stick to high interest bank accounts and regular savings accounts.

xylophone

Fixed rates here http://www.thisismoney.co.uk/money/article-1621507/Best-savings-rates-Fixed-rate-accounts.html

But you could do better if you can open current accounts.

Simplest - 3 x BOS Vantage with £3000 in each - set up monthly standing orders for £1000 for same day - a to b, b to c, c to a.

Otherwise, 1 x TSB, 1x Lloyds Club, (2 monthly DDs also required), one Tesco. Set SO for £1500 for same day from TSB to Lloyds and Lloyds to TSB - move interest arising on TSB and Lloyds monthly to Tesco.

Check terms and conditions.

jimjames

esi22uk wrote: »

Hello. Can someone please give me some insight into how best I can invest £9000 for three years and get the best return? Many thanks and kind regards
Nana

Unless you're really happy to take a big risk then you should be saving not investing for a period of 3 years.

Out of interest, what's the requirement for the money in 3 years? Is that an absolute deadline or is it flexible?

bournejason7629

If we are going longer term, let's say up to 10 years, where would funds be better off going to?

HappyMJ

soldave wrote: »

If we are going longer term, let's say up to 10 years, where would funds be better off going to?

Depends on what investments/assets/savings you already have?

I would advise anyone to at the very minimum have £5,000 in cash savings or 6 months of expenses saved. It's enough for most people to ride out a period of unemployment. If you earn more than average and have higher than average expenses you'll need much more than that.

Property is an option either your own my making payments on a mortgage or by buying into a small BTL property.

A diversified stocks and shares portfolio should over a period of 10 years show a reasonable level of profit no matter what happens to the market.

If you've got property, a stocks and shares portfolio, cash savings then I'd consider pension contributions. Many people though would contribute to pension first to gain the most tax advantages but you can't touch the money until (in my case) 60.

bournejason7629

Thanks for the thoughts, and good call on the pension. I'm at the point in the year when we can choose our pension pay-in amount and I was considering raising contributions, but maybe a stocks & shares ISA or similar would be a good idea, after putting away 6 months of expenses.

MEM62

Three years would generally be considered too short a period for investment.

esi22uk

Many thanks for your response. It's to form part of a deposit for a house

Gadfium

esi22uk wrote: »

Many thanks for your response. It's to form part of a deposit for a house

High interest current bank accounts then. You will want the certainty of being able to move quickly should the need arise.
I'm confident that you wouldn't accept, say, your £9K becoming £5.5K because of a big dip in the market just as the right house comes on the market.

HappyMJ

esi22uk wrote: »

Many thanks for your response. It's to form part of a deposit for a house

Have you got the Help to Buy ISA? Save £12,000 and get an extra £3,000 to buy a house with. Save a maximum of £1,200 in the first month plus £200 per month.