Savings & Investments

[jezza888]

Hi all,

I've recently removed a decent chunk from my brokers I wish to save in a non trading fashion.

Been looking at the NS&I website and realised how clueless I am in regards to savings...

Anyhow, trying to decide on the most profitable and safest places to keep my money (other than under my mattress). I'm looking for short (6 month) and long term (5 - 10 yr) options as I want to keep all possibilities accounted for and don't like all my eggs in one proverbial basket.

Any suggestions on the best performing accounts/ISAs/funds/whatever? I have in the region of 20K GBP.

Cheers


PS I have put some into premium bonds but thats about it. Also, wothout trying to sound to tongue in cheek, no lottery ticket suggestions as I don't gamble!

 

[chump]

http://uk.mcgi.yahoo.com/brand/s=bestbuy$easyaccess

Best cash isa's assuming you are UK resident around 5.2% with bonus. Max £3,000pa per person.
Best short term rates on the link. 5 to 10 year option not worth looking at as the long term rates on bonds etc are struggling to keep pace with risk free short term rates (which should be making people think)
Other than that you could try some corporate bonds and get another couple of % ,but with risk.

 

[trendie]

how close are you to retiring ?

if you are a 40% tax-payer, a pension input may mean for every £6,000 you invest, the government will add £4000. ( essentially, they are giving back the tax they took off you. limits apply. please see an IFA )

that could equate to a pot which increases by 66% from day 1!! ( your input 6K. this goes upto 10K. )

you will be liable to tax on retirement. limits on earliest time you can get back the money.

 

[jezza888]

how close are you to retiring ?

I'm 29 Trendie!

 

[wheezergeezer]

Dude.......I'd recommend buying an classic guitar, ie pre 1965 Fender strat,or similar, I'm assuming youve heard of them or know something about guitars, great investment