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Ethical lump sum saving

munsoor243
Posts: 1 Newbie
Hi I have £35,000 lump sum that I want to save ethically. Can you please advise what will give me best return during these challenging times. I have no debts.
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Comments
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In how soon will you want the money? If it's less than 5years you would be best advised to just find a relatively high return savings account. I dont think any savings account is more ethical than any other. Over the long term a savings account is likely to return less than inflation and so you will lose real value.
If it's at least 5 and preferably10 years or more you can think about share based investments. Over the long term these can reasonably be expcted to grow faster than inflation but in the meantime will rise and fall, possibly being worth less than one you started at some point. There are quite a few ethical funds that invest in 100s of companies from around the world, though you will have to check whether their ethics match yours.
Before you put money away for the long term you should ensure that you have an emergency fund of say 6 months living expenses in easy access cash accounts. This will ensure that you dont have to sell investments at a bad time if say you lose your job or your boiler/roof/car etc needs expensive work done.0 -
You say saving. That generally means using cash deposit accounts. It is very hard (but not impossible) to get ethical banks. However, even those that claim ethical standards in an area will still be doing things that you probably wouldnt class as being ethical if you are that focused on applying ethical standards to savings.
If you were talking investments, then it would be a different matter.
So, can you clarify whether you mean savings or investments?I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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