Savings / investment suggestions

geomot

Right this is me completely open to suggestions about what to do with spare cash at the moment - we are comfortable but not excessively well off.

I've got a £300 each month to be sensible with.

We are far from flash - have two good newish cars etc & are not big spenders.

We have a repayment offset mortgage (£35k) that is completely offset and has 8 years (worst case) left to pay off - I put the non-offset savings into ISAs each month.
We use our cash ISA allowance fully.
We have good pensions (teachers & NHS).
We have two endowments due to pay out in 8 years circa £80k in total and actually on track (Prudential).
We have about £20k in saving accounts for our two kids and add to this each month.

We are both late thirties.
We might move house five years down the line.

The reason for asking for suggestions here is that the last time I got professional advice the TSB sold us precipice bonds and we lost money, the time before it was unit trust type products which also dived.

Totally open to suggestions to investigate myself.

liitleblackcat

If you want a straight savings account take a look at Matin's savings advice http://www.moneysavingexpert.com/savings/savings-accounts-best-interest . Most people are going to one of the Icelandic Banks (Kaupthing Edge mainly) at the moment due to their high interest rates for over £1k on deposit and ease of withdrawing.

If you want a regular savings account you need to look for one with more than 7% interest as you can get 6.5% without the drawbacks of regular savings accounts.

If you want longer term investments you probably need the advice of an IFA - check out Martin's advice on how to do that http://www.moneysavingexpert.com/protect/best-financial-advisers or if you wnat to do it yourself try http://www.moneysavingexpert.com/savings/isa-discounts

amcluesent

So, have you considered 'investing' to boost you personal earnings potential? When I work, some post-grad/Masters qualification is becoming essential to get ahead.

10% of your wealth should be for in gold for 'worst case scenario', i.e. nuclear dirty bomb in London. Keep in coins in a safe in your house, the banks won't be open!

After that, obviously economic power is heading away from the West. You could make regular payments into an investment trust covering BRIC (Brazil/Russia/India/China).

My current thinking is 'heat and eat', the world's growing population needs something after peak-oil and food (assuming there isn't a Malthusian crash back to 2B people). I'd be looking investments in nuclear energy, dabble with alternative power and then get exposure to agriculture, land and production.

Kavanne

Are you serious about that gold thing? lol Or are you just particularly paranoid about the zombie apocalypse?

amcluesent

>Are you serious about that gold thing?<

Anyone think that 'the establishment' has been on top of the collapse of financial markets since summer 07? A further shock, such as terror attack in NY and/or London would be the coup de grace.

kingmonkey

The strategies outlined above are highly risky.

Seeing and independent IFA would be the most appropriate thing to do.