Help - I have £250,000 burning a hole in my pocket!

Johnhowell

Moorepart,

Just for your information Atkins are not Contractors! We are Consultants providing engineering and project managment services worldwide including the London Olympics. I should know, worked for them 16 years and their shares will payoff my mortgage this year.

Regards,
John

anthonymartin

rebelmc

i was in your situation in august 04 was worried about what to do with funds from house my best friend said invest in his business and he would pprovide high invest return.....i trusted him i beleived him i valued his opinon and business accuman.....guess what, he has a six figure sum of my funds.... so far no not a single penny returned...dont fall for anything that more than banks etc....because when it all goes wrong you will have major problems just like me.....heres hoping that i may get something back!

nemo183

Whilst I'm not sure it's 100% legal for anyone without proper qualifications to answer your question on what to do with your 250k, I so much agree with the previous poster on what not to do with it.

I'm investing a similar sum for my aunt at the moment, and I'm going for a dull and boring mix of cash, shares and ISA's - with the majority staying in cash at whatever the best low risk vendor I can find.

I've lost count of the number of people who have told me that they've now invested their pension funds in "buy-to-let"

I can't remember the name of the guy (maybe somebody else can?) of the American businessman who sold all his shares before the 1930's crash when the bell boy in the lift that took him up to his office started giving him buy/sell tips.......

ManAtHome

nemo183 wrote:

I can't remember the name of the guy (maybe somebody else can?) of the American businessman who sold all his shares before the 1930's crash when the bell boy in the lift that took him up to his office started giving him buy/sell tips.......

That was Rockafeller - when I heard it, it was the shoe-shine boy.

Pip_R

rebelmc wrote:

Where should I put it to get a high monthly income? I've looked at ICICI Bank's 5.4% (see other thread) but I'm scared that only £30k of my money will be protected. I've also thought about getting £30k worth of premium bonds each for myself and my wife, and then putting the rest in a high interest current account.
Thanks!

What does it mean by only £30k is protected? Is this the same for all savings in banks/building societies?

ManAtHome

Under the UK Deposit Protection Scheme, if a bank goes bust you are guaranteed 100% of the first £2k, then 90% of the next £33k. If you have £35k or more deposited, the most you'll get back is £31,700.

Note that this doesn't necessaily apply to offshore banks - you need to check the T&Cs of any institution before you give them your cash...