How to invest for the future

_ASH_

Hi Guy's, & thanks for looking, I'm hoping that someone will advise me.

Im a 42 year old bloke and have never had anything given to me, I class myself as being very fortunate that ive been able to work long hard hours, 6 & 7 days a week & earn money.

What I want to know, is whats the best way to invest my £2500? which I've managed to save?

Ive currently got a mortgage for the next 6 years, I've got no other savings.

What I want (in an ideal situation) is to invest my money, but to be able to withdraw it (if ever I need it)

Ive looked at premium bonds, but thought id ask here first.

A bit for you all to think about.. I do worry about health, as my dad had a heart attack in his early forty's & passed away at 60 with cancer & he passed away with no saving at all & a mortgage which was left to my mum (which was a massive worry).

Sorry to waffle on & thanks in advance for any advice

Alan

JohnRo

High interest current accounts and regular savers.

Nationwide Flexdirect is, I think, the best option in year one if you can get the 5% from both their current and RS accounts

https://www.bankaccountsavings.co.uk/calculator

Wildsound

Do you have a partner/wife and/or kids? Do you have any protection?

If you're single, then income protection might be something worth looking into. Of course it's not a savings account but if you can afford the premiums, it might give you peace of mind knowing that if something happened to you which meant you couldn't work anymore, then you would still be able to maintain your standard of living to a degree instead of falling patient to the state.

_ASH_

Thanks for the advice.

Im married, with 3 kids

5erge

TSB 5% on £1500 is a good starting place, this will earn you £5-6 per month (better than nothing). Open one up for your wife and transfer your interest into her account to get it up to £1500.

Do you have an ISA? If not I would start up a S&S ISA.
Do you have an emergency fund? Even setting aside a small amount each month will help.

Everyone worries about the future, I am in the same boat as you, married, kids, 45 and unfortunately heart attacks run in the family I myself have an irregular heartbeat and I do worry. I have recently taken up road/gravel cycling to get my heart working for me. However, I take solace in that I have a family, mortgage nearly paid off and savings. there are plenty of people in a far worse situation.