INVESTMENT ADVICE

Shay65

Hi needs some much needed advice.

I will be in receipt of £25 000 in a couple of weeks and have no idea what to do with it regarding investing.  I will probably need to access it next year.

I don't own any property on will probably not buying anything as I am 55, also married so don't think there is much available to me.

I have no idea about ISA's etc hence the much needed help.

Looking forward to hearing from you.

Sharon

eskbanker

If you're likely to need it next year (all of it?) then forget about investment (a long-term activity) and stick to savings accounts: https://www.moneysavingexpert.com/savings/savings-accounts-best-interest/

Albermarle

If you need to access it next year then it is far too short a time scale to think about investing it, so your only sensible option is to put it into a safe savings account, or premium bonds .
https://moneyfacts.co.uk/savings-accounts/
https://www.nsandi.com/premium-bonds

triplea35

Are you in employment, pay into a pension, tax payer? 

AnotherJoe

Buy Premium Bonds (and what a state the worlds come to when you find me posting that)

ps how much do you need to access next year? If any left over putting it in  pension will give you a top up that may end up being tax free. Are you employed?

Shay65

Hi everyone - thanks for replies.  Answers to your questions as follows.

I am not employed

I can leave it for another year if needed

I don't have any private pensions as originally from Zimbabwe so arrived in UK in 2000.

Sharon

MaxiRobriguez

Why do you need it in one to two years? Do you actually have a plan for the money or is it just the concept of wanting it soon/not wanting it to be locked away for a long time?

The_Earl_of_Streatham

Mike_Dicken said:

Crypto is one of the best investments nowadays. 
Yes, investing in cryptocurrencies can be dangerous. 

How are these two statements reconcilable within the context of the OP who wants her money back in two years?
Mike_Dicken said:

 because it can be managed everywhere, from PC, mobile etc.

Unlike practically every other account available anywhere.
A naked shill for a very high risk strategy which the OP should be avoiding.

bowlhead99

As the other posters mentioned, if you will 'probably need access to it next year' you should use a traditional cash deposit (instant access or fixed term or notice) account from a bank, building society or NS&I. Other 'Investment' options have risk of capital loss and are essentially a gamble if doing for short term periods.

Mike_Dicken said:

choosing a passive income with a structured deposit on xxxxxxxxxxxx and when you learn more and became an experienced fellah you may add trading to your investments to multiply gains

Make sure you ignore this poster, who has been promoting 'structured deposits' since his first post on the forums last month

The product they recommended simply lets you take a proportion of the upside without the full downside of cryptocoin returns, and you can pick from a blend of products where you choose your desired rate of return, e.g. take take 40% of the blended crypto growth rate if it goes up, and lose 20% of your deposit if it goes down. Or take 20% of the crypto growth rate if it goes up, and all the money back fully guaranteed if it goes down. Or a more cautious option where you get  only 16% of the upside, but if it goes down you get all your money back plus 4% return. 

Q: Well that sounds very nice but how can they possibly generate the returns to pay you out if the crypto fails or drops in value? 

A: a mixture of magic, and it being a scam with the 'guarantee' not being worth the e-paper it's written on.

Mike_Dicken said:
"Yes, investing in cryptocurrencies can be dangerous."

That bit was truthful

83705628

Mike_Dicken said:

Crypto is one of the best investments nowadays. First of all, because it can be managed everywhere, from PC, mobile etc.
Yes, investing in cryptocurrencies can be dangerous. But as in any other case, this must be approached wisely. At the moment, I believe in cryptocurrency even more than banks.
You need to follow old but gold rules like not keeping all the eggs in one basket, and start with the options where you do not need much attention and got enough time to react like choosing a passive income with a structured deposit on gekkoin, and when you learn more and became an experienced fellah you may add trading to your investments to multiply gains

/
Crypto is not an investment at all, and it is certainly not an investment than inexperienced or new investors should be considering. Crypto is literally gambling.

MaxiRobriguez

Crypto may well become a ubiquitous method of transaction in the future, but... it's not there yet. There's three main challenges to making money from "investing" in cryptocurrencies:
1) Regulation
2) Widescale adoption
3) Picking out a market leader

For the vast majority of people crypto is an unsuitable investment. For the small remainder of people who have some reason to own it, it should be part of a diversified portfolio - and by that I mean as a minority holding compared to a majority in equities/bonds etc, not just a portfolio of multiple cryptos.

And for the majority of people on here - a forum for some fairly basic investment advice most of the time, it's certainly not a suitable investment.