What to do with £35k

friolento

Emmia said:

friolento said:

Another £20k into an ISA in April; park it until then in the best easy access or short term notice account.

The remaining £15k into a pension if they can still contribute this tax year.

Some or all could also go into Premium Bonds.

You could point your relly at CHATGPT or Gemini for a "conversation" with a virtual IFA.

It's very unlikely they'd use ChatGPT or another chatbot for financial advice.

Their loss. They should at least give it a try. They don't have to follow the suggestions, if indeed any are being made.

At least AI can tickle out all the requirements that are so difficult to establish on a forum, and that a human IFA would be establishing before making any recommendations. But for £35k, no IFA would be interested. So AI is a fantastic way to get a small investor evaluating their options.

Eyeful

1. Do they know
(a) Investing means putting your money at risk?
(b) markets are extremely high at the moment?

2. Best to use pension for the tax benefits.
Next best use Stock & share ISA
Do not use GIA

3. (a) Watch: https://www.kroijer.com/
(b) Then read these:
https://monevator.com/passive-fund-of-funds-the-rivals/
https://monevator.com/best-global-tracker-funds/

4. Common mistake of newbie investors is
To jump into the markets at or near their peak (when all the news is good)
Then when the markets collapse to jump ship" (when the news is bad).
Sometimes never to return, thereby locking in their loses.

Emmia

friolento said:

Emmia said:

friolento said:

Another £20k into an ISA in April; park it until then in the best easy access or short term notice account.

The remaining £15k into a pension if they can still contribute this tax year.

Some or all could also go into Premium Bonds.

You could point your relly at CHATGPT or Gemini for a "conversation" with a virtual IFA.

It's very unlikely they'd use ChatGPT or another chatbot for financial advice.

Their loss. They should at least give it a try. They don't have to follow the suggestions, if indeed any are being made.

At least AI can tickle out all the requirements that are so difficult to establish on a forum, and that a human IFA would be establishing before making any recommendations. But for £35k, no IFA would be interested. So AI is a fantastic way to get a small investor evaluating their options.

They've decided to look at going to a IFA for a wider look at their overall financial position, and how to maximise their pensions, ISAs, property and stocks - which is somewhat higher in value (overall) than this £35k.

I suspect this money will be popped in an easy access account (Chase at 4.5% seems a likely home) whilst they seek the advice and decide on next steps.

They're not an idiot, they're familiar with the fact that markets rise and fall and it's "time in the market" which is usually important... 

Thanks all.

friolento

Emmia said:

friolento said:

Emmia said:

friolento said:

Another £20k into an ISA in April; park it until then in the best easy access or short term notice account.

The remaining £15k into a pension if they can still contribute this tax year.

Some or all could also go into Premium Bonds.

You could point your relly at CHATGPT or Gemini for a "conversation" with a virtual IFA.

It's very unlikely they'd use ChatGPT or another chatbot for financial advice.

Their loss. They should at least give it a try. They don't have to follow the suggestions, if indeed any are being made.

At least AI can tickle out all the requirements that are so difficult to establish on a forum, and that a human IFA would be establishing before making any recommendations. But for £35k, no IFA would be interested. So AI is a fantastic way to get a small investor evaluating their options.

They've decided to look at going to a IFA for a wider look at their overall financial position, and how to maximise their pensions, ISAs, property and stocks - which is somewhat higher in value (overall) than this £35k.

I suspect this money will be popped in an easy access account (Chase at 4.5% seems a likely home) whilst they seek the advice and decide on next steps.

They're not an idiot, they're familiar with the fact that markets rise and fall and it's "time in the market" which is usually important... 

Thanks all.

Going to an IFA for an overall financial assessment, rather than just a decision on the £35k (which wasthe original question), may well be the most appropriate action.

I hope that “they are not an idiot” wasn’t triggered by anything I said because using AI, or asking questions about investing, doesn’t mean you are an idiot.

Eyeful

When little information is given and someone wants to get into investing when the markets are so high, its suggest they are a newbie to investing. Hence, the questions at the start and the observation at the end of my post.

No one on this forum has ever implied a newbie is an idiot.

Emmia

friolento said:

Emmia said:

friolento said:

Emmia said:

friolento said:

Another £20k into an ISA in April; park it until then in the best easy access or short term notice account.

The remaining £15k into a pension if they can still contribute this tax year.

Some or all could also go into Premium Bonds.

You could point your relly at CHATGPT or Gemini for a "conversation" with a virtual IFA.

It's very unlikely they'd use ChatGPT or another chatbot for financial advice.

Their loss. They should at least give it a try. They don't have to follow the suggestions, if indeed any are being made.

At least AI can tickle out all the requirements that are so difficult to establish on a forum, and that a human IFA would be establishing before making any recommendations. But for £35k, no IFA would be interested. So AI is a fantastic way to get a small investor evaluating their options.

They've decided to look at going to a IFA for a wider look at their overall financial position, and how to maximise their pensions, ISAs, property and stocks - which is somewhat higher in value (overall) than this £35k.

I suspect this money will be popped in an easy access account (Chase at 4.5% seems a likely home) whilst they seek the advice and decide on next steps.

They're not an idiot, they're familiar with the fact that markets rise and fall and it's "time in the market" which is usually important... 

Thanks all.

Going to an IFA for an overall financial assessment, rather than just a decision on the £35k (which wasthe original question), may well be the most appropriate action.

I hope that “they are not an idiot” wasn’t triggered by anything I said because using AI, or asking questions about investing, doesn’t mean you are an idiot.

It wasn't in response to your comment, it was more in response to the point about newbie investors. 

Chief_of_Staffy

Have to agree that in almost all circumstances, asking AI (Grok, Claude are my usuals) is invaluable, assuming you're able to do basic research on any information you wish to follow up. The time and money it's saved me on everything from DIY to investments is even more staggering considering I've never paid to use it. The key thing to bear in mind is that if you want current information, e.g. the markets, you will need to instruct the AI specifically to retrieve it and bear in mind that even then, accuracy may be limited.