If you had only £1000 spare to invest what would you do?

fun4everyone

recci wrote: »

The thing is with these savings accounts you need have a lot of money in them for it to be worth while for instance if I put the £1000 into an ISA with a 1.3% percent rate Id make £13 in a year. What is the point of that?

You can get 5% on £1000 cash, if you want better than that you are going to have to take some risk.

recci

fun4everyone wrote: »

You can get 5% on £1000 cash, if you want better than that you are going to have to take some risk.

Where do you get the 5% from?

Also can someone expand on the different levels of risk?

FestiveJoy

recci wrote: »

I have around £1000 I can spare at the moment to start some sort of investment/savings scheme not much I know but plan to add to it over time. What would make decent gains without massive amounts of risk?

I'd spend the festive period reading all those informative MSE articles listed at the top of the page

:xmastree::xmastree::xmastree:

FestiveJoy

recci wrote: »

Where do you get the 5% from?

Here's one place:

https://www.moneysavingexpert.com/banking/compare-best-bank-accounts#nationwideflexdirect

:xmastree::xmastree::xmastree:

fun4everyone

recci wrote: »

Where do you get the 5% from?

Nationwide flex direct current account or various regular savers.

martinthebandit

To be honest if your a risk averse investor with only £1000 to play with the logical answer (to me) would be premium bonds.

I cannot think of any other investment for that amount which gives you even a very remote possibility of gaining big with zero risk.

xylophone

You could open a Nationwide Flexdirect current account, deposit the £1000, make sure that you pay in £1000 a month( it can come out immediately if required) and earn 5% for a year.

It will pay 5% on up to £2,500 for a year.

There is also a Flexclusive regular monthly saver.

capital0ne

penguineater wrote: »

Honestly I'd read up on crypto coins if I were you. There is so much profit being made although it's a bit of a gamble, lessened risk by doing research.


An example, I put £180 in raiblocks last week, now it's worth £580. I can cash it out right now and walk away with £400 profit, but instead I'll take out the original £180 and place it into other coins I think will increase in value.




OR something that is guaranteed, matched betting if you have not done it yet. There is an MSE subforum for it.

There's always a total !!!!!!!! around if you wait a while! :T:T:T:T:T

capital0ne

recci wrote: »

The thing is with these savings accounts you need have a lot of money in them for it to be worth while for instance if I put the £1000 into an ISA with a 1.3% percent rate Id make £13 in a year. What is the point of that?

When I started with ISA's I made £80 tax free that year - all my mates laughed at me!

Now a few years on that £80 tax free - £15,000+ tax free

Moral is just pick an investment strategy and stick to it

My suggestion (advice not allowed on MSE) is buy £1000 of CTY (City of London Investment Trust) in an ISA on say iWeb or X-O to keep costs down.

Ignore all the carping and disparaging suggestions, MSE seems full of it now, and good luck

And one good thing, you won't get robbed by an IFA - you don't have enough dosh to make it worthwhile :beer:

jimjames

recci wrote: »

The thing is with these savings accounts you need have a lot of money in them for it to be worth while for instance if I put the £1000 into an ISA with a 1.3% percent rate Id make £13 in a year. What is the point of that?

So take some risk and invest in something like VLS100. That obviously assumes you have emergency fund already sorted