Where to put my money

Mos17

I really need help to make the best use of the money I inherited.  At the moment I have 50k in premium bonds and 80k in a chase savings account and 50k in a Marcus savings account.  I want around 50k to be in an easy access account but not sure what is eat to do with the rest.  Thank you and I hope it’s ok to post this 

eskbanker

You should achieve better returns by locking the money away, which could range from fixed rate savings accounts through standalone investing and even into pensions, so your first question needs to be how long is it likely to be before you need access to the money?

Albermarle

It is OK to post, but you need to give a lot more details about yourself, such as -
Age?
Employed?
Pension situation?
Mortgage?
Future plans for the money?
You have £130K in easy access accounts. Do you need easy access to all that money? Or could a lot of it be tied up for the medium/longer term.

Euro_Skank

Keep the £50K in PBs - as they're easily accessible. Then maybe put the rest in Vanguard's FTSE Global All Cap Index Fund - Accumulation fund or something like U.S. Equity Index Fund - Accumulation fund.  

jaceyboy

Euro_Skank said:

Keep the £50K in PBs - as they're easily accessible. Then maybe put the rest in Vanguard's FTSE Global All Cap Index Fund - Accumulation fund or something like U.S. Equity Index Fund - Accumulation fund.  

Can you advise more with regards to what Vanguard's cap index fund is?

Euro_Skank

jaceyboy said:

Euro_Skank said:

Keep the £50K in PBs - as they're easily accessible. Then maybe put the rest in Vanguard's FTSE Global All Cap Index Fund - Accumulation fund or something like U.S. Equity Index Fund - Accumulation fund.  

Can you advise more with regards to what Vanguard's cap index fund is?

Et voila... https://fund-docs.vanguard.com/gb00bd3rz582-en.pdf 

"The Index is a market-capitalisation weighted index representing the performance of large, mid-sized and small company shares in developed and emerging markets around the world..."

Alistair31

jaceyboy said:

Euro_Skank said:

Keep the £50K in PBs - as they're easily accessible. Then maybe put the rest in Vanguard's FTSE Global All Cap Index Fund - Accumulation fund or something like U.S. Equity Index Fund - Accumulation fund.  

Can you advise more with regards to what Vanguard's cap index fund is?

You buy a little bit of over 7000 companies around the world, in one easy transaction. You then get a fraction of their dividends and, hopefully, appreciation in the value of said companies. 

https://www.vanguardinvestor.co.uk/investments/vanguard-ftse-global-all-cap-index-fund-gbp-acc/overview

Dave_5150

If you are more risk adverse and want assurance that your funds will grow then fixed rate savings and ISA may be an option but inflation still affects your spending power.

Everyone is different and so are there circumstances. With a plan to retire in three years I prioritised LGPS AVC's, fixed term ISA's and fixed term savings bonds.

In ball park figures I will increase my money by around 25% over the next 5 years. But if inflation remains around 10% the money will still buy me significantly less goods and services than it would today.

Mos17

Albermarle said:

It is OK to post, but you need to give a lot more details about yourself, such as -
Age?  65
Employed?  Retired
Pension situation?  Private currently, I draw a £1000per month,  there is only 124k left 
Mortgage? No mortgage
Future plans for the money?  I really want to make some money so I have a better lifestyle.
You have £130K in easy access accounts. Do you need easy access to all that money? Or could a lot of it be tied up for the medium/longer term.  I would like to have 50k easy access as I have to pay some large maintenance bills on my flat

Thank you, Please see my answers above

Albermarle

Mos17 said:

Albermarle said:

It is OK to post, but you need to give a lot more details about yourself, such as -
Age?  65
Employed?  Retired
Pension situation?  Private currently, I draw a £1000per month,  there is only 124k left 
Mortgage? No mortgage
Future plans for the money?  I really want to make some money so I have a better lifestyle.
You have £130K in easy access accounts. Do you need easy access to all that money? Or could a lot of it be tied up for the medium/longer term.  I would like to have 50k easy access as I have to pay some large maintenance bills on my flat

Thank you, Please see my answers above

Initial comments.

With that draw rate for your pension it will run out quite quickly.
Hopefully a full state pension is on the way on your next birthday and you can reduce the withdrawal rate, as this will be an extra £10Kpa

Otherwise keep £50K in easy access savings account.
Ideas for the rest are a mixture of fixed term savings accounts ( one , two, three years etc) and maybe a proportion invested for later retirement. Unless you have poor health you might well live another 25 years +

Mos17

Thank you for all the advise I’m thinking of opening a fixed term savings account with Raisin