Which Vanguard product is the best for me to invest long term ?

IloveElephants

Hi Everyone, 
I am so confused when it comes to investing in bank accounts so need your help please. 
My situation is im 36 years old, so far no mortgage, would like to put some savings in an account that will grow over time and give me regular bonds if this still happens? when you get cheques or they give you money to cash every now and then. Like small prizes. 

So I am able to deposit 10k in a new account because I have 30k saved but this is my deposit money when the time comes to buy a property. So currently I would like to invest 10k in a account and hopefully it will grow. I hope to not touch the 10k and keep it to grow and add to it. Just to note im not a gambling person so dont want to invest in stocks shares etc... because I just want my money to grow and go 1 way. 

I have no personal pension, just my old work pension where I would pay £50 per month via the company pension provider. So which account shall I open ? As I said Im not very good at this hence the reason im on here asking. 

Thank you very much everybody.

grumiofoundation

IloveElephants said:

 Just to note im not a gambling person so dont want to invest in stocks shares etc... because I just want my money to grow and go 1 way. 

This statement doesnt match title of "Vanguard product is the best for me to invest" (Vanguard is a platform used to invest in stocks and shares)??

Do you want to invest (capital at risk, stocks etc) or to save?

ZeroSum

It actually sounds like you want premium bonds

dunstonh

I am so confused when it comes to investing in bank accounts so need your help please. 
My situation is im 36 years old, so far no mortgage, would like to put some savings in an account that will grow over time and give me regular bonds if this still happens? when you get cheques or they give you money to cash every now and then. Like small prizes. 

Your thread title does not match your requirements.  Vanguard are a provider of risk based investments.  Not savings accounts or tombolas. 

So I am able to deposit 10k in a new account because I have 30k saved but this is my deposit money when the time comes to buy a property. So currently I would like to invest 10k in a account and hopefully it will grow. I hope to not touch the 10k and keep it to grow and add to it. Just to note im not a gambling person so dont want to invest in stocks shares etc... because I just want my money to grow and go 1 way. 

There is so much we could say about that one paragraph but that is for another day.   Bottom line is that if the need is in the short term, you should stick to savings.   If it is long term then you should use investments.   

So which account shall I open ?

None.  Vanguard is not suitable for you.    

The closest match for your objectives - no capital risk and prize entries would suggest premium bonds.

Albermarle

when it comes to investing in bank accounts 

You do not invest in bank accounts . Generally you seem rather confused, especially about the difference between saving and investing,  so probably some background reading on an easy level may help.

https://www.moneysavingexpert.com/savings/

https://www.moneysavingexpert.com/savings/investment-beginners/

MovingForwards

@IloveElephants you need to assess what your long-term goal is with that £10k is it an emergency fund? Is it a retire a year earlier fund? Is it for retirement? Etc

When you know what that goal is, you can then assess what to do with it.

PBs are like the lottery, only you don't lose your stake, but the odds of winning anything are not too good either. You can chase better interest rate accounts, use regular savers etc, but that would rely on you moving money around to find the best rates each time. 

Are you still paying into your old pension? Have you joined your current employer pension? £50pm won't give you much on retirement, even with more added by your then employer.

Stocks and shares are the only realistic way of having money grow, but they are for long-term goals (ideally 10+ years to ride out any blips), not short-term saving. 

If you put more information up, the guys and girls in this section can help.

leonj

I would put it in FTSE Global All Cap Index Fund Accumulation

grumiofoundation

leonj said:

I would put it in FTSE Global All Cap Index Fund Accumulation

OP said - dont want to invest in stocks shares

dunstonh

leonj said:

I would put it in FTSE Global All Cap Index Fund Accumulation

This is a dreadful recommendation.  Please do not follow it.  It does not meet the objective and probably doesnt meet the timescale (posts suggests, but is unclear, that the money is for house purchase - suggesting something that is going to be needed in the short term).

xylophone

Are you currently working?

AnotherJoe

leonj said:

I would put it in FTSE Global All Cap Index Fund Accumulation

Maybe you would, but there's no way the OP should.