Investment/Savings

MonkeyRed25

Hi All,

New poster here so please excuse if been discussed before. we've been gifted 25K by my parents where is the best place to save it? We don't need the money at present but like to have access to it if required in the future but happy for it to sit in an account for a number of years. Just looking at the best way to make the money grow. Thank MR

eskbanker

Impossible to say without more detail about your circumstances but assessing when you're likely to need access would be a good start, as there's a significant difference between the ends of the spectrum, which would go something like:

• instant access savings
• notice savings
• fixed term savings, e.g. 1-5 years
• low-risk investments, e.g. wealth preservation funds
• medium risk investments, e.g. multi-asset funds
• high risk investments, e.g. equity-only trackers
• all of the above investments but within a pension wrapper, accessible from 55/57

but using a lump sum to pay off debts or part of a mortgage, or to support a new property purchase, or gazillions of other options, are possible!

Albermarle

New poster here so please excuse if been discussed before

There have been many similar threads but the answers are different and depend on your personal circumstances, which we do not know unless you tell us,

sheslookinhot

MonkeyRed25 said:

Hi All,

New poster here so please excuse if been discussed before. we've been gifted 25K by my parents where is the best place to save it? We don't need the money at present but like to have access to it if required in the future but happy for it to sit in an account for a number of years. Just looking at the best way to make the money grow. Thank MR

Too vague for useful comment