Where to put your 'pot'??

drippylizzy

We have a 'pot' that we want to use to make us some money.
We put it in an HSBC Portfolio - and it made us less than 2% over 2 years!!!
They said we had to think 'long term' - but we had told them that we wanted a very low risk investment which would maximise our savings. They led us to believe we could get approx 8 - 10 %. The portfolio was in stocks and shares - which of course are rubbish at the moment and not looking that good even long term.

We took it out of the portfolio and are in a dilemma as to where we can put it where it is both safe and making a decent return . At the moment we have just got it in savings, isa's etc. which are probably the best places for it. :T

Don't suggest a financial advisor - we don't trust them :mad: - they only make money on your money and they usually have a 'win win' where you have a 'loose loose'!!!! I'm sure the HSBC didn't loose any money. (In fact your thread about their enormous profits prompted me to send this post!!) They still got paid their %age of our money whether they did a good job or not:beer: .

Lokolo

Its lose, not loose.

And 2% for investing over 2 years. Investments are longterm. 2 years is not longterm. You may get a better return over the next few years.

You say you don't trust financial advisors. Why are you trusting people on this site then? After all, thats what we are all doing, giving advice about finance, we have no evidence to show what we say is true, we could be lying for all you know.

nicko33

For very low risk you could consider NS&I Index Linked Savings Certificates

dunstonh

We put it in an HSBC Portfolio - and it made us less than 2% over 2 years!!!

What did you expect? If its the last 2 years then that is quite reasonable given the state of the markets and the fact you chose a bank for investments.

They led us to believe we could get approx 8 - 10 %. The portfolio was in stocks and shares - which of course are rubbish at the moment and not looking that good even long term.

its why you dont invest for just 2 years. You invest for a minimum of 5 as you have to average out the good, bad and noneventful years. My own investment average is 14.8% p.a. and I have gone through periods when it dropped 45%.

Stockmarket investments have varying potential and of course investing doenst just mean stockmarket. There are other asset classes as well.

Don't suggest a financial advisor - we don't trust them :mad:

How many advisers have you seen? None probably as most banks employer sales reps.

Your problem is that you saw a sales rep, bought a fairly rubbish investment which would have performed more or less in line with where it is invested and over the short time have made nothing (as would be expected in that period) yet you are expecting to get long term average returns every year. It doesnt work that way.

Jonbvn

OP,

I would suggest the index linked certs also, since it would appear that you wish to avoid S&S and IFA's.

prudentsaving42

Put it in a Fixed Rate 1 year savings account.

purch

but we had told them that we wanted a very low risk investment which would maximise our savings

Very Low Risk cannot ever include a substantial % in Equity's

What % of the portfolio is actually Invested in Equity ??

mjr600

Where 'the Fuzz' can't find it.

wombat42_2

mjr600 wrote: »

Where 'the Fuzz' can't find it.

Do they look in the cookie jar ? That's where I keep my pot. :eek::eek::eek::eek::eek::eek::D:D