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How to invest 20K
TeddyT_2
Posts: 11 Forumite
I'm pretty new to all this and want to make the money work for me. Rather than just sitting around was wondering of investing the money.
Now I don't take interest payment so regular savings accounts are out of the picture. What would you guys recommend?
Cheers
Now I don't take interest payment so regular savings accounts are out of the picture. What would you guys recommend?
Cheers
0
Comments
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thirty thousand or so options fit your request as it currently stands.
You need to narrow down a lot. For example, what risk do you want to take? What tax wrappers will be best for you? How long are you looking to invest for? What accessibility potential do you need? What areas do you want to invest in? What investment strategy do you want to follow?I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
Sorry like i said a bit new to all this.
Right well looking short term about 18months.
Least risk as possible even though this may be low return.
I have no idea what the other stuff means!
As for Tax I don't want to be in a situation that after the investment I'd be back to my original investment when tax is taken!
Cheers0 -
18 months isnt long enough to invest. You are really looking at 60 months as a minimum for investments.
So, your choice is much easier. Stick to savings.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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