What shall I do with £20K?

EthanHawke

I have £20K to invest/save. I have no mortgage or debts and have the max premium bonds. I don't need to be able to get at the money for a few years. I'm not a risk taker but would at least like my money to retain its value. Any suggestions about what I could do with it? TIA

kidmugsy

EthanHawke wrote: »

I have £20K to invest/save. I have no mortgage or debts and have the max premium bonds. I don't need to be able to get at the money for a few years. I'm not a risk taker but would at least like my money to retain its value. Any suggestions about what I could do with it? TIA

There's nothing available that guarantees to preserve its value.

Alexland

With that amount you would need to take some risk to stand a chance of keeping up with inflation. Still if you don't want to take any risk there are some accounts that pay 3%+ but its a lot of hassle as most as promotional so don't take large deposits.

Terry_Towelling

You could have a stab at it for a while with the following:

Nationwide FlexDirect (5% for 12 months up to £2.5K) + 5% regular saver.
Tesco Current account (3% on £3K until 04/19 at the moment) - You can have 2 of these in your sole name.
TSB Classic Plus (5% on £1500) + 2% regular saver

Plus several other current accounts with linked regular savers. There are requirements attached to these accounts but they will accommodate a little over half of your cash (inc reg savers) and get you some way towards catching up with inflation - if you don't mind a bit of faff setting them up and maintaining them.