Best way to invest £13,000

PFMarconi

I would like to invest £13,000 but where ?
I'm 60 yrs old. 
Thanks for any suggestions.

Alistair31

For how long? 

Attitude to risk ? 

DiggerUK

You have some awful choices.
Cash savings don't make enough to cover inflation. Equities are crashing, but cheap, with no way of knowing what is going to happen. If you have debts why not pay them down....mortgage clear yet? If you can live without this money for 5-10 years gold could suit you.

For now you should just put it in a safe account until you decide. Anything else you can tell us..._

PFMarconi

Thanks.
Thankfully debt free - no mortgage or debts. Not vast savings either but this is part of a pension that's matured.

coachman12

If you can wait a few years and want no risk, why not put it in RCI Bank savings account ------
1.65 % for a 2 year bond. That should be as good as it gets for now, and let's you make a further decision after the 2 years. Of course, if you want to leave it in good hands for 5 years, RCI will provide 1.9%.
Investments are a minefield at present. ISAs are not recommended. Other "usual suspects" are not 
showing any pointers for your £13,000. Yep, I'd recommend the highest savings account to suit the period you feel is best for you, Marconi-----it doesn't have to be under my own mattress at RCI 

Albermarle

Investments are a minefield at present

They are always a minefield , but one that produces the goods over a longer period.

grumiofoundation

coachman12 said:

Investments are a minefield at present. ISAs are not recommended

As above investments are always a risk. 

Out of interest (no pun intended) what do you mean ISAs are not recommended? 

grumiofoundation

DiggerUK said:

You have some awful choices.
Cash savings don't make enough to cover inflation will keep your capital safe and will lose you a few pounds per year versus inflation (depending on what you spend your money on). 

Equities are crashing have crashed (may crash again but this is always the case), but cheaper than they were 3 months ago, with no way of knowing what is going to happen. 

If you can live without this money for 5-10 years gold and are happy to risk the capital gold

could suit you,

Ah Digger encouraging people to pay off cheap debt and buy gold again.