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Where to put £210,000

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  • eskbanker
    eskbanker Posts: 37,073 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    bobwilson wrote: »
    All the suggestions here for £210k are still in the region of or below the current rate of inflation (1.9%) so they're not actually saving. You'll be losing money whichever savings account suggestion you take here.

    Interesting that no one mentioned that...!
    Why would they mention that? The posts above are constructive suggestions that meet the stated requirement for a safe home for the money over a short time period - if you have any better ideas for somewhere safe that would outperform inflation then I'm sure OP (and the rest of us) will be all ears!
  • quirkydeptless
    quirkydeptless Posts: 1,225 Forumite
    Sixth Anniversary 1,000 Posts Name Dropper Photogenic
    bobwilson wrote: »
    All the suggestions here for £210k are still in the region of or below the current rate of inflation (1.9%) so they're not actually saving. You'll be losing money whichever savings account suggestion you take here.

    Interesting that no one mentioned that...!


    2.1% now :-(
    Retired 1st July 2021.
    This is not investment advice.
    Your money may go "down and up and down and up and down and up and down ... down and up and down and up and down and up and down ... I got all tricked up and came up to this thing, lookin' so fire hot, a twenty out of ten..."
  • SmashedAvacado
    SmashedAvacado Posts: 1,262 Forumite
    1,000 Posts First Anniversary
    the relevant rate of inflation is actually the house price index not the CPI or RPI for this saver, as they want to use the money to buy a property - so if house prices are falling or stagnant, its not correct to say they'd be losing money
  • Slinky
    Slinky Posts: 11,012 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    Be aware that when you buy, your solicitor will want to know where the money came from, and you will have to account for every receipt on your bank statement of over £1K for 6 months, for money laundering purposes. Keep good records when you move money around to make life easier for yourself.
    Make £2025 in 2025
    Prolific £229.82, Octopoints £4.27, Topcashback £290.85, Tesco Clubcard challenges £60, Misc Sales £321, Airtime £10.
    Total £915.94/£2025 45.2%

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    Total £1410/£2024  70%

    Make £2023 in 2023  Total: £2606.33/£2023  128.8%



  • chelseablue
    chelseablue Posts: 3,303 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    Why does nothing like this ever happen to me
  • eskbanker
    eskbanker Posts: 37,073 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Why does nothing like this ever happen to me
    What about if the OP had been reworded a bit, along the lines of "after years of [STRIKE]lurking[/STRIKE] underperforming, an unexpected cash windfall from a wealthy Russian oligarch has allowed our club to buy success by spending fortunes on a range of players that we never could have afforded otherwise, ultimately contributing to a permanent transformation of the financial state of the English game"? ;)
  • Hey all - many thanks for the thoughtful, solid advice and top-notch banter!


    Feel like sticking it in the Virgin 1.5% will suit us great given we don't need (or want!) to make withdrawals except for the deposit on exchange and then the final balance on completion of a house purchase. Good to have the limitation to prevent any cheeky chipping away at it, and awesome that the FSCS covers temporary high balances like ours - I had no idea, thanks @Audaxer!



    I also really take on the point made by @SmashedAvocado about the house market stalling - I feel like given current political carnage house market confidence is unlikely to soar in the next 6 months so as cash buyers we'll probably be able to get just as much for our money house-wise... Depressing but true!


    Again, many thanks to you all for the wise advice and for giving us loads of food for thought on this luxury 'problem'. Best wishes to all!
  • LuckyOnes wrote: »
    Hey all - many thanks for the thoughtful, solid advice and top-notch banter!


    Feel like sticking it in the Virgin 1.5% will suit us great given we don't need (or want!) to make withdrawals except for the deposit on exchange and then the final balance on completion of a house purchase. Good to have the limitation to prevent any cheeky chipping away at it, and awesome that the FSCS covers temporary high balances like ours - I had no idea, thanks @Audaxer!



    I also really take on the point made by @SmashedAvocado about the house market stalling - I feel like given current political carnage house market confidence is unlikely to soar in the next 6 months so as cash buyers we'll probably be able to get just as much for our money house-wise... Depressing but true!


    Again, many thanks to you all for the wise advice and for giving us loads of food for thought on this luxury 'problem'. Best wishes to all!

    Put 50k in Premium Bonds - ok you will probably lose a few quid in interest but you might get a decent win which you won't get at Virgin.
    if i had known then what i know now
  • MaxiRobriguez
    MaxiRobriguez Posts: 1,783 Forumite
    Sixth Anniversary 1,000 Posts Name Dropper
    Why does nothing like this ever happen to me

    Windfalls like this typically might be an inheritance which could be received due to a close family member passing away.
  • quirkydeptless
    quirkydeptless Posts: 1,225 Forumite
    Sixth Anniversary 1,000 Posts Name Dropper Photogenic
    Put 50k in Premium Bonds - ok you will probably lose a few quid in interest but you might get a decent win which you won't get at Virgin.


    Plus side - tax free, so even better if paying 20/40% tax :money:


    Down side - Not in draw for first month, so not so good for a short term saving :o
    Retired 1st July 2021.
    This is not investment advice.
    Your money may go "down and up and down and up and down and up and down ... down and up and down and up and down and up and down ... I got all tricked up and came up to this thing, lookin' so fire hot, a twenty out of ten..."
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