We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Help! What to do with £13k? Advice please.
fwubbar
Posts: 12 Forumite
I am 42 and have £13k in premium bonds which are currently giving a poor return, I have a £58k mortgage with 20yrs to run against our home valued iro £150k and I have plans to move/travel so need the access to the money when the youngest has finished education in about 5-8yrs time (depends on chosen career path). Evidently, I need my money to work hard for the best outcome during this time.
Do I keep the premium bonds in the hope they'll give a good return in the future, or put all the money into something like an ISA (or something similar - good interest rates, low risk), or put it towards the mortgage and thus reduce monthly payments and use that monthly difference to reduce mortgage further/pay into ISA - or re-invest in something else such as a plot of land that I could rent out? Or something else low risk?
.
I want to do something for the medium term until that time, but once that money has gone - that's it, I have no more. So could you come up with wise ideas I can work with before I decide what to definately do, please?
Kind regards,
Fwubbar.
Do I keep the premium bonds in the hope they'll give a good return in the future, or put all the money into something like an ISA (or something similar - good interest rates, low risk), or put it towards the mortgage and thus reduce monthly payments and use that monthly difference to reduce mortgage further/pay into ISA - or re-invest in something else such as a plot of land that I could rent out? Or something else low risk?
.I want to do something for the medium term until that time, but once that money has gone - that's it, I have no more. So could you come up with wise ideas I can work with before I decide what to definately do, please?
Kind regards,
Fwubbar.
0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 353.6K Banking & Borrowing
- 254.2K Reduce Debt & Boost Income
- 455.1K Spending & Discounts
- 246.7K Work, Benefits & Business
- 603.1K Mortgages, Homes & Bills
- 178.1K Life & Family
- 260.7K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards