We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Endowmnent. What to do? Moving abroad? Help please?
nfwjacob
Posts: 1 Newbie
I have an endowment which is due to mature in about 2025. Its worth nearly £8000 at the moment. Is there a better place for me to put that £8000 than to pay out £80 a month while abroad, assuming I am allowed to do that, on top of the £230 that I pay on the interest only mortgage already. Can I put it in any kind of bond that could make it grow to £45,000 or so by 2025?
Explanation - The job I am moving to is not well paid and I am worrying about covering both the mortgage repayment figure and the endowment figure. I think I can cover the £230 a month but the endowment is pushing it for me really.
Thanks a lot. I am really stuck!!
Explanation - The job I am moving to is not well paid and I am worrying about covering both the mortgage repayment figure and the endowment figure. I think I can cover the £230 a month but the endowment is pushing it for me really.
Thanks a lot. I am really stuck!!
0
Comments
-
We cannot offer any opinion unless you give us some information about the endowment.Can I put it in any kind of bond that could make it grow to £45,000 or so by 2025?
Bonds and endowments both use the life assurance tax wrapper. Plus asking it to more than quadruple in less than 20 years is pushing it. You would have to use medium/high risk investments or above to get that sort of potential.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
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 353.9K Banking & Borrowing
- 254.3K Reduce Debt & Boost Income
- 455.2K Spending & Discounts
- 246.9K Work, Benefits & Business
- 603.5K Mortgages, Homes & Bills
- 178.3K Life & Family
- 261K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards