Lump Sum Investment Advice

Topaz99

Could anyone give me any advice on Investing around £160-£170,000 with fairly easy access?
I may look for a property soon but not in the near future, so would like to have some access when needed.
But other than that, a decent interest rate for a lump sum like this.
Or would it be easier to split to get the best return? I do have a financial adviser, with some products in mind, but they take a monthly fee regardless.
Thank you for any advice or solutions.

dunstonh

Could anyone give me any advice on Investing around £160-£170,000 with fairly easy access?

Any local IFA to you can. Or do mean internet opinion rather than advice?

I may look for a property soon but not in the near future,

What is your definition of soon and near future?

But other than that, a decent interest rate for a lump sum like this.

As you are talking interest rates, you appear to be talking about savings rather than investing. Is that case?

Or would it be easier to split to get the best return?

Depends on what the timescales and objectives are.

I do have a financial adviser, with some products in mind, but they take a monthly fee regardless.

Investments have explicit fees. Savings have implicit fees. Just because you cant see a fee does not mean a fee is not there. Indeed, historically, the implicit charges on savings are typically higher than explicit charges on investments.

Linton

Investments are not appropriate as they may fall in value so you need to look for cash accounts. NS&I are often suggested as it is 100% guaranteed by the government and the interest rates are better than banks for large sums of money.


If you know the money is not going to be touched for n years it could be more lucrative to use a couple of (n-1) year fixed rate accounts to ensure that the money is fully protected.

Topaz99

So are NS&I still a good investment?

i thought maybe Martin mentioned NS&I before and says that it's a 'lottery' with winning any of the bigger cash prizes, which are in effect, your interest.

Also isn't there a cap on the limit you're allowed to invest in NS&I?

I did have some years ago but it may have changed. Or could I use 2 NS&I accounts to spread my money? Thanks

Alistair31

Topaz99 wrote: »

So are NS&I still a good investment?

Thanks

I politely suggest you may be better served by answering the questions put in post #2, as a starter.

xylophone

https://www.nsandi.com/our-products

However much you invest, all of your money is 100% safe with us as we’re backed by HM Treasury.
Life’s more fun with safer savings.

Other savings rates here

https://www.thisismoney.co.uk/money/article-1583859/Best-savings-rates-General-savings-Internet-branch.html