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10k to invest for 6-9 months max.
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Pensioner2023
Posts: 21 Forumite

As title... now I am a real pensioner (!) I only pay basic income tax rate and dont have any big savings to factor in. I have £10,000 in cash, but plans for spring next year mean I will need this money available to me.. maybe 60 days notice would be okay. What would be my best investment? Would not need access in this timeframe.
Many thanks.
Many thanks.
0
Comments
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What would be my best investment?The timescale is way too short for investing. You should stick with savings options only. So, look at the tables on this site.
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.1 -
As you've posted this on the ISA & tax-free savings board, is it an ISA you're considering ?
If so, make sure you read up on the starter savings rate which allows low earners to earn up to £18,570 in combined income and savings interest before paying tax on it.
https://www.moneysavingexpert.com/savings/tax-free-savings/
If your combined pension and savings income is likely to fall well below that, then you would get a higher return from a normal (non-ISA) savings account in many cases.
The best notice accounts can be found here : https://moneyfactscompare.co.uk/savings-accounts/best-notice-accounts/?quick-links-first=false
Try and avoid the term 'investing' if you actually mean saving1 -
Sorry.. my mistake.. thanks for the above info..will check out as advised.0
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