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Where to put money?
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Susan1942
Posts: 1,460 Forumite


I have a Santander current account I get 1,5 % interest up to £20,000. I have an esaver with them which pays 5% latest one was 3% on previously.
Problem is I now have in excess of £27,000. Not sure what to do with the surplus.
I do have several investment several bonds which I have had for several years.
One particular original investment was £20,000. Over the years I.have taken several withdrawal to a total of over £19,500. The current value of this is just under £30,000. I can make further deposits to this from £2000.
Wondering if I should add a further £5000.
I have another which has almost doubled its original £30,000. It is not possible to make any further addition to this. I have hot stocks and shares ISA wondering if I should add to this
Another investment if £30,000 which initially lost around the £8,000 in first 2 years but this has now recovered to around £43,000
I no longer have a financial advisor as I lost faith in.him. A number of years ago he got me to put money.in a with profit bond with Standard Life.at a time when there was.a lot of adverse publicity about the company. I cashed that in when I reinvested my money in two bonds of £30,000 eachm
He had promised me an annual reviews but he avoided me.I think. I could have complained but he was a friend of my Son in Law
I feel that when I don't have further money to invest advisors are not really interested
Advice would be appreciated Thanks Sue
Problem is I now have in excess of £27,000. Not sure what to do with the surplus.
I do have several investment several bonds which I have had for several years.
One particular original investment was £20,000. Over the years I.have taken several withdrawal to a total of over £19,500. The current value of this is just under £30,000. I can make further deposits to this from £2000.
Wondering if I should add a further £5000.
I have another which has almost doubled its original £30,000. It is not possible to make any further addition to this. I have hot stocks and shares ISA wondering if I should add to this
Another investment if £30,000 which initially lost around the £8,000 in first 2 years but this has now recovered to around £43,000
I no longer have a financial advisor as I lost faith in.him. A number of years ago he got me to put money.in a with profit bond with Standard Life.at a time when there was.a lot of adverse publicity about the company. I cashed that in when I reinvested my money in two bonds of £30,000 eachm
He had promised me an annual reviews but he avoided me.I think. I could have complained but he was a friend of my Son in Law
I feel that when I don't have further money to invest advisors are not really interested
Advice would be appreciated Thanks Sue
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Comments
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You need to think about what aims you have in life and how this money can help you get there. Without that information no-one (including yourself if you've not really thought about it) can really help you and give you their opinions on what you could possibly do.
It may be that putting the money into a simple bank/building society account paying a few percent per year is the right thing to do. But without knowledge of what your plans are no-one can say.0 -
If you have sufficient cash and are happy with investments then either S&S ISA or pension are two optionsRemember the saying: if it looks too good to be true it almost certainly is.0
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If you are more comfortable with current accounts there are several that pay a higher rate than santander. Tesco, tsb, lloyds for example. Yiu do need to fulfil certain requirements such as minimum payments and direct debits but these are not insurmountableNo.79 save £12k in 2020. Total end May £11610
Annual target £240000 -
I have a Santander current account I get 1,5 % interest up to £20,000 I have an esaver with them which pays 5% latest one was 3% on previous
Problem is I now have £27,000 in excess of Not sure what to do with surplus Do you mean esaver or regular saver? The one where you can only put in £200 maximum per month?
I do have several investment several bonds which I have had for several years
One particular one was £20,000 original investment Over the years I.have taken several withdrawal to a total of over £19,500 The current value of this is Just under £30,000 I can make further deposits to this from £2000 What return is this giving you? Normally you cannot add to bonds you keep rolling over but there are some exceptions.
Wondering if I should add a further £5000 to this
I have another which has almost doubled its original £30,000 but this is closed and not add to this Got stocks and shares ISA wondering if I should add to this
Another investment if £30,000 list about £8,000 in first 2 years but has now recovered
I no longer have a financial advisor as I lost faith in.him when a good number of years ago he got me to put money.in a with profit bond at a time when everyone was talking about SL and their with profit bonds I cashed that in when I reinvested my money in the two bonds if £30,000
He had promised me an annual reviews but he avoided me I think. I could have complained but he was a friend of my SIL so I did nothing about it
I feel that when I don't have further money to invest advisors are not really interested Advice would be appreciated Thanks SueI’m a Forum Ambassador and I support the Forum Team on the Debt free Wannabe, Budgeting and Banking and Savings and Investment boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.
The 365 Day 1p Challenge 2025 #1 £667.95/£301.35
Save £12k in 2025 #1 £12000/£80000 -
I do apologize for my post. I have tried to edit it to make more sensible reading.
I am retired with 3 pensions which more than meet my outgoings.
I can afford to take several holidays a year.
I am also giving my two grandchildren who.are University students a monthly allowance.from.my income.
My son has a house with negative equity equity which he is renting out and this covers the mortgage payments.
I gifted him the deposit to enable him to buy another property as he had to relocate.and I did not want him to have to rent.
I own a property which is worth a substantial amount. I am 75 and whilst my health is good at the moment there is the possibility of long term care in the future
There is really no.easy answer and I suppose I should be.grateful that I do.not have any money worries
I appreciate all your response Sue0 -
I do apologize for my post. I have tried to edit it to make more sensible reading.
I am retired with 3 pensions which more than meet my outgoings.
I can afford to take several holidays a year.
I am also giving my two grandchildren who.are University students a monthly allowance.from.my income.
My son has a house with negative equity equity which he is renting out and this covers the mortgage payments.
I gifted him the deposit to enable him to buy another property as he had to relocate.and I did not want him to have to rent.
I own a property which is worth a substantial amount. I am 75 and whilst my health is good at the moment there is the possibility of long term care in the future
There is really no.easy answer and I suppose I should be.grateful that I do.not have any money worries
I appreciate all your response Sue
If you are financially secure and have cash available as emergency funds already and your estate would be subject to inheritance tax it may be an idea to give more money from income/ lump sum gifts to your heirs? My understanding from my reading many of the threads on this site is as long as it does not adversely affect your own lifestyle then you can make regular payments to others.
For instance it may be helpful to know that you have contributed to your sons' or grand childrens' financial future by putting some money into their pension- early start compound interest means they get a head start in building their pots up or alternatively a help to buy ISA or LISA?
Just my thoughts!
CRVCRV1963- Light bulb moment Sept 15- Planning the great escape- aka retirement!0 -
Thanks for that I have 5 grandchildren 21 20 15 13:and 7. invested some money for them when they were born..The idea being that it would help them when they were studying at university.
The 20 year old will spend a year at an US university from.August 2018 as part of her degree. She needs a guarantor for that year.
My Grandson is going to do a Master's next year and I am going to fund him for that year.
Whilst my will has got some money built in.for the Grandchildren I am considering changing my will instead be leaving the bulk equally between my Son.and Daughter. With Student debt and the problem of young people getting their foot on the housing ladder I am considering that each half be equally divided to include the Grandchildren.
Don't know what my S&D think.of this but my Granddaughter thinks it a very good idea! I have not taken any legal advice on this.
I was widowed at 53 and my Son and Daughter inherited some money from.their Father. This money was used to buy a larger house and my son.to but his first house
Neither set of Parents would be in.the position right now to be able to substantially help them
Thanks again.Sue0
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