We'd like to remind Forumites to please avoid political debate on the Forum. This is to keep it a safe and useful space for MoneySaving discussions. Threads that are - or become - political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
We're aware that dates on the Forum are not currently showing correctly. Please bear with us while we get this fixed, and see Site feedback for updates.

Investment advice

Hi - I have £10 000 which I would like to invest so looking for advice as I have no clue re ISA, bonds etc.
I am 55 and can leave the money in the account for a year but may need to withdraw +/- £3000 in September (having teeth implants sorted in Turkey.
Any advice/suggestion greatly appreciated.
Regards
Sharon

Comments

  • Albermarle
    Albermarle Posts: 25,999 Forumite
    10,000 Posts Sixth Anniversary Name Dropper
    Any money that needs to be accessed in the short term should be kept in cash and not invested .
    Ideally invested money should be left alone for at least 10 years ( absolute minimum 5 years ) as this gives time to ride out the markets ups and downs. 
    I have no clue re ISA, bonds etc.
    Also it is often said never invest in anything you do not understand , so before dipping your toe in the water you should get better informed .
    https://www.moneyadviceservice.org.uk/en
    https://www.moneysavingexpert.com/savings/investment-beginners/
    https://www.moneysavingexpert.com/investments/
  • RobM99
    RobM99 Posts: 2,642 Forumite
    Eighth Anniversary 1,000 Posts Photogenic Name Dropper
    Just my suggestion (to get the ball rolling!);
    Of your 10,000, how about
    £3,500 in an easy access account (~1% interest - not a lot but going rate as short-term savings)
    £6,500 in a one-year fixed bond  OR premium bonds (which would be like buying 3,250 lottery tickets  but if you lose, you still get your original money back!).
    Now a gainfully employed bassist again - WooHoo!
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 348.4K Banking & Borrowing
  • 252.1K Reduce Debt & Boost Income
  • 452.4K Spending & Discounts
  • 241K Work, Benefits & Business
  • 617.3K Mortgages, Homes & Bills
  • 175.7K Life & Family
  • 254.1K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16K Discuss & Feedback
  • 15.1K Coronavirus Support Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.