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£100,000+
FSFR
Posts: 2 Newbie
Advice pls. We have inherited a remarkable amount of money and would to put it into a risk free savings account. We need not need access to the money. Advice on interest accounts and tax implications would be very much welcomed. Thank you.
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Advice pls. We have inherited a remarkable amount of money and would to put it into a risk free savings account. We need not need access to the money. Advice on interest accounts and tax implications would be very much welcomed. Thank you.
What research and your own thinking have you used so far?
Doesn't seem to be enough information for people to make suggestions. That's probably going to be the reply from the more knowledgeable forum members.Goals
Save £12k in 2017 #016 (£4212.06 / £10k) (42.12%)
Save £12k in 2016 #041 (£4558.28 / £6k) (75.97%)
Save £12k in 2014 #192 (£4115.62 / £5k) (82.3%)0 -
We have inherited a remarkable amount of money and would to put it into a risk free savings account.
NS&I Income Bonds - 1% paid monthly but remember inflation.
The interest paying current account roundabout - between two of you, six BOS Vantage, four Tesco, three Nationwide Flexdirect, three Lloyds Club. three TSB Plus, three Santander....
https://www.gov.uk/government/publications/personal-savings-allowance-factsheet/personal-savings-allowance0 -
would to put it into a risk free savings account.
What risks are you referring to when you say risk free?
inflation risk?
shortfall risk?
provider risk?
investment risk?
Are you looking for immediate access as you plan to spend it all shortly or do you have medium term or long term plans for it?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 -
With inflation expected to rise significantly next year and possibly for an extended period I'd be giving some serious consideration to a balanced global multi asset portfolio.
Risk free is a fiction in terms of wealth preservation.'We don't need to be smarter than the rest; we need to be more disciplined than the rest.' - WB0 -
Gold
I only wish I bought some BEFORE the Brexit vote.0 -
Thanks. In terms of risk, investment risk.
In terms of research - simply exploring the range of interest rates and their caveats0 -
Thanks. In terms of risk, investment risk.
In terms of research - simply exploring the range of interest rates and their caveats
If you're looking only at savings accounts, you will maximise your interest by using multiple current accounts and regular savers.
Have a read of the 1st two quick links at the top of the page to articles on the main site 'Top savings accounts' and 'How to start saving'.
Simplest solution, but less lucrative is NS&I Income Bonds - see post 30
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