80,000 to invest for income?

kidmugsy

Would putting part of it into this suit you?
https://www.barclays.co.uk/savings/bonds/3-year-flexible-income-bond/

If so, what would you like to do with the rest? Would you prefer instant access? Access on 60 days notice, 90 days, 120 days, ....?

Would you like to use investments as well as savings?

Audaxer

wrensnestred wrote: »

Hi,
80,000 is in addition to the 100,000 pension pot, what I want is the best way to get an income of around 300 per month from the 80,000

From an £80k investment you'll be lucky to get a regular income of £300 per month, increasing with inflation after deduction of platform charges, especially if you are hoping to maintain the capital value in the long term.

chipolatta

Can you not buy a house in your region and then rent it out.
£80k would go a long way where I live!

wrensnestred

Unfortunately not for 80k around here

chipolatta

wrensnestred wrote: »

Unfortunately not for 80k around here

Pity. Mind, there's loads of Southerners with spare cash investing in properties up North here where £80k buys a house to rent out.

firestone

wrensnestred wrote: »

Hi,
80,000 is in addition to the 100,000 pension pot, what I want is the best way to get an income of around 300 per month from the 80,000

At the lower end rates of P2P such as Octopus choice, Landbay,Ratesetter or Lending Works etc you would at the moment get the return you are looking for.But its considered higher risk and normally its recommended to spread across platforms and to put in no more then 10% of your savings but people do go higher
I'm no expert but as there is a risk to capital if you are taking the income it may be slightly less risky then people who reinvest their income and continue to build their account higher but probably not by much

Apodemus

Audaxer wrote: »

From an £80k investment you'll be lucky to get a regular income of £300 per month, increasing with inflation after deduction of platform charges, especially if you are hoping to maintain the capital value in the long term.

I agree about the luck required and that nothing in this world is ever certain. However, (as long as they understand the risk) the OP could buy shares in some of the Investment Trusts with a long pedigree and get a yield in the 4.5% range. Some of these have a long record of maintaining dividends, although this is no guarantee of the future.

My holding in MYI may never have been a star performer but it has more than kept pace with inflation and the dividend yield has been maintained. At current prices it yields around 4.6%.

EDIT: re-reading that...just to be more accurate, dividend value has been maintained, yield has, of course, risen and fallen in inverse relation with share price.