Where to invest for a monthly income?

Suzkin

Hi, Can anyone recommend a product to use for investing £50k in order to yield a monthly income? (asking for a friend - really!). Many thanks!

Mrs_Z

Premium bonds?

kuratowski

They can also look on here:
https://moneyfacts.co.uk/savings-accounts/monthly-interest-accounts/

barnstar2077

Do you mean a fund that pays dividends?

Sorcerer2018

not enough info really, you need to tell us what friend is expecting in terms of a yearly income from that, 1% , 10% etc. This will determine what you will need to invest in to get it. As well what is your friends risk profile is , how much of it are they potentially willing to lose chasing yield?

El_Torro

Saving is an option, the capital is safe but the return will be poor. It will even be unreliable if they go with Premium bonds. The expected return is good compared to pretty much any savings account, but even with £50k some months of no return are to be expected.

Investing will most likely give better long term returns. Stick it in an Inc fund (rather than an Acc fund) and make sure to go for a fund with high expected dividends. Even then with £50k the monthly return won't be much to write home about.

dunstonh

Suzkin said:

Hi, Can anyone recommend a product to use for investing £50k in order to yield a monthly income? (asking for a friend - really!). Many thanks!

Pick a number between 1 and infinity.   That is basically the level of options available.

We need a lot more info as the provision of a monthly regular withdrawal or income can be done very many ways. Usually you can eliminate a lot of them with information but we don't have that information from you...so far..