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Best Temporary Investment for Three Months for Excess Cash?
janesmith
Posts: 58 Forumite
I am selling a portfolio of properties and the fairly large sum of money will sit in my bank account for about three months until I am able to invest the funds again.
I was wondering if anybody knew the best place to invest these funds for a temporary period so that I can at least match if not beat inflation? Obviously savings accounts don't do that. I've looked into P2P investing, but haven't come across ones that I can easily invest for a few weeks for?
Are there any decent yielding investments I can make for just a few months (that are ideally not too time-consuming to set-up) please?
Thank you in advance for the advice.
I was wondering if anybody knew the best place to invest these funds for a temporary period so that I can at least match if not beat inflation? Obviously savings accounts don't do that. I've looked into P2P investing, but haven't come across ones that I can easily invest for a few weeks for?
Are there any decent yielding investments I can make for just a few months (that are ideally not too time-consuming to set-up) please?
Thank you in advance for the advice.
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Comments
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Any sort of investing over such a short period of time would be madness given the risks involved (unless you can afford a loss) so you'd be better just putting the money into NS&I bonds, where it's safe. Inflation should hardly be much of an issue over a three month period!0
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I've looked into P2P investing, but haven't come across ones that I can easily invest for a few weeks for?
Thank you in advance for the advice.
For info - do your own research:
Ratesetter allows short term investing in their Rolling Market and can be cashed out within contract at zero fee.. (FI - There are fees for early cash out in other markets).0 -
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Why not Marcus?0 -
That would be a good shout if OP is talking about <£85K but the reference to "selling a portfolio of properties" implied to me that the unspecified "fairly large sum of money" would probably be in six figures rather than five.Why not Marcus?
Having said that, putting the first £85K in Marcus would improve overall return, and splitting the total into £85K chunks and using other instant access accounts (Tesco, etc) would work too, if OP feels it's worth the effort....0 -
Ratesetter allows short term investing in their Rolling Market and can be cashed out within contract at zero fee.. (FI - There are fees for early cash out in other markets).
Even so P2P markets carry risk, no FSCS protection and can freeze. It's almost certainly not suitable for the OPs situation. I would third NS&I.
Alex0 -
Ah hae ma doots anent janesmith. Will she return with a plug for some scheme or other?Free the dunston one next time too.0
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That would be a good shout if OP is talking about <£85K but the reference to "selling a portfolio of properties" implied to me that the unspecified "fairly large sum of money" would probably be in six figures rather than five.
Having said that, putting the first £85K in Marcus would improve overall return, and splitting the total into £85K chunks and using other instant access accounts (Tesco, etc) would work too, if OP feels it's worth the effort....
Good point.0 -
Even so P2P markets carry risk, no FSCS protection and can freeze. It's almost certainly not suitable for the OPs situation. I would third NS&I.
Alex
OP said they looked at P2P but couldn't find a short term option.
I provided information, not a recommendation. I also added 'do your own research' , which you opted to edit out from the quote?
Further they asked for something that could 'at least match inflation'.
Which NS&I account does that that you are recommending?0 -
There's nothing that matches all of your requirements. You should stick with cash and accept that you won't match inflation, but you won't take on the possibility of losing a significant chunk of value as well, as 3 months simply isn't long enough to ride out any short-term volatility.I am a Chartered Financial Planner
Anything I say on the forum is for discussion purposes only and should not be construed as personal financial advice. It is vitally important to do your own research before acting on information gathered from any users on this forum.0
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