£100K - Where Do I Put It??!!!

Baldur

nickjohng1973 wrote: »

I agree with not investing lump sums.....how do you invest in ISA's (plural)??...I thought you could only have one??

You are thinking in terms of the Cash ISA limit - you have an annual allowance of £7,200 (up to £3,600 of which can be paid into a Cash ISA or the full amount into a Stocks & Shares ISA). If you pay £3,600 into a Cash ISA, the remaining £3,600 can be paid into a Stocks & Shares ISA - so you can open & pay into to two ISAs per year, but only one of each type.

greedbay

Never put any money into a stocks and shares isa.

Last time I invested £10k into one, it lost me money, damn idiot HSBC representive sold me out.

chesky369

........Never put any money into a stocks and shares isa.............

Never is a long time. I agree it's probably not the best moment to do so right now, but they've been good in the past and probably will be again. You do them for the long term, not for just a year.

jem16

greedbay wrote: »

Never put any money into a stocks and shares isa.

Last time I invested £10k into one, it lost me money, damn idiot HSBC representive sold me out.

A bank is the worst place to buy an investment from.

moneybelle

chesky369 wrote: »

I think you should find yourself an IFA immediately, since any advice you receive here is too vague to be of real help with regard to such a large sum of money. A good IFA would judge your own personal attitude to risk and what goals you want long-term, and would then advise you accordingly. I found a wonderful person about 4 years ago and wish I'd known about him 20 years ago.

The best thing is that you learn real fast about money yourself; chose an IFA if you cant be bothered.

moneybelle

greedbay wrote: »

Never put any money into a stocks and shares isa.

Last time I invested £10k into one, it lost me money, damn idiot HSBC representive sold me out.

If thats the case, then go for compensation.

The best time to buy stocks are when prices are low. You get more for your money.

You need to be in it for at least 10 years.

greedbay

chesky369 wrote: »

........Never put any money into a stocks and shares isa.............

Never is a long time. I agree it's probably not the best moment to do so right now, but they've been good in the past and probably will be again. You do them for the long term, not for just a year.

When I set up my stocks and shares isa I had no idea I could lose money, the representative was a 'so-called expert' in the field and verbally promised I would make at least 5%. I asked him about the risks and he said in order for me to lose any money the top 100 companies in the UK would have to fold.

Well that was utter B$. He was an outright salesman and I fell for his sales pitch. Feel quite let down by him anyhow I took all my savings out of the HSBC and will never bank with them again.

Aegis

greedbay wrote: »

When I set up my stocks and shares isa I had no idea I could lose money, the representative was a 'so-called expert' in the field and verbally promised I would make at least 5%. I asked him about the risks and he said in order for me to lose any money the top 100 companies in the UK would have to fold.

Well that was utter B$. He was an outright salesman and I fell for his sales pitch. Feel quite let down by him anyhow I took all my savings out of the HSBC and will never bank with them again.

If that's true, then complain to HSBC, then the financial ombudsman service if you don't get compensation from the bank. If it turns out that they did go through some risk details with you, then they'll be able to demonstrate it. If not, then you should be looking at some compensation.

chesky369

"The best thing is that you learn real fast about money yourself; chose an IFA if you cant be bothered."

That could be OK if you have the time, talent and inclination. I COULD cut my own hair; I COULD do all my own decorating and house repairs; I COULD take a course and do my own plumbing. However, I'd rather do what I'm actually good at and leave another professional to do what they're good at.

chesky369

"I asked him about the risks and he said in order for me to lose any money the top 100 companies in the UK would have to fold."

This is an out and out lie - Aegis is right, you have a case against HSBC.