How would you invest 20k?
How would you invest 20k?
20 April 2004, 04:13 PM
#4
Scooby Regular
Safe bet would be use £3K Mini Cash ISA and the rest in Fixed Rate savings accounts.
Anything more adventurous would need more info on your part - i.e. are you prepared for an element of risk for the possibilty of higher returns? How old are you are you higher rate tax etc....
Anything more adventurous would need more info on your part - i.e. are you prepared for an element of risk for the possibilty of higher returns? How old are you are you higher rate tax etc....
Trending Topics
20 April 2004, 04:47 PM
#8
Scooby Regular
Join Date: Mar 2003
Posts: 695
Likes: 0
Received 0 Likes
on
0 Posts
Originally Posted by EddScott
Safe bet would be use £3K Mini Cash ISA and the rest in Fixed Rate savings accounts.
20 April 2004, 04:58 PM
#10
Scooby Regular
Join Date: Dec 2002
Location: Logged Out
Posts: 10,221
Likes: 0
Received 0 Likes
on
0 Posts
20k isn't a lot of money to realise a great deal to be honest so your best bet would be to buy Premium Bonds with it.
Chance at the 1 million and odds are you will win smaller amounts a few months a year ( 1 in 30,000/month as opposed to the lottery of 1 in 13 million)
Premium Bonds, and all winnings from them, are tax free so they represent a good way of stashing your cash without letting the taxman getting a chunk of it. The prize fund rate is currently 2.25% per annum tax free, equivalent to 2.81% p.a. gross for a basic rate tax payer and 3.75% p.a. gross for a higher rate tax payer. Having said that, while the money may be safe it isn’t earning any interest - its value is eroded by inflation - and there are no guarantees of winning a prize.
Chance at the 1 million and odds are you will win smaller amounts a few months a year ( 1 in 30,000/month as opposed to the lottery of 1 in 13 million)
Premium Bonds, and all winnings from them, are tax free so they represent a good way of stashing your cash without letting the taxman getting a chunk of it. The prize fund rate is currently 2.25% per annum tax free, equivalent to 2.81% p.a. gross for a basic rate tax payer and 3.75% p.a. gross for a higher rate tax payer. Having said that, while the money may be safe it isn’t earning any interest - its value is eroded by inflation - and there are no guarantees of winning a prize.
20 April 2004, 05:16 PM
#11
Scooby Regular
Thread Starter
Join Date: Nov 2001
Posts: 2,342
Likes: 0
Received 0 Likes
on
0 Posts
Interesting responses - would also spend some on Chivas to go with the coke!
Where can I get more info on premium bonds?
I'm surprised no one reckons the buy-to-let despoit is a goer?!
Where can I get more info on premium bonds?
I'm surprised no one reckons the buy-to-let despoit is a goer?!
20 April 2004, 05:21 PM
#12
Scooby Regular
Join Date: Dec 2002
Location: Logged Out
Posts: 10,221
Likes: 0
Received 0 Likes
on
0 Posts
20 April 2004, 05:21 PM
#13
Scooby Regular
Join Date: Feb 1999
Location: Cardiff. Wales
Posts: 11,758
Likes: 0
Received 0 Likes
on
0 Posts
Shares every time. Played with shares for last 15 years and managed to pay off £50k mortgage and I drive an Sti all through the profits selling shares.
Chip.
Chip.
20 April 2004, 07:24 PM
#18
Scooby Regular
Join Date: Feb 2002
Location: Earth
Posts: 879
Likes: 0
Received 0 Likes
on
0 Posts
If you want a low risk option the Halifax are offering 6% gross on the condition you tie the money down for a year. If you take it before the year is up you won't get the same return (I think that is how it operates anyway - check their website for more info).
Medium risk try shares or buy-to-let (small amount for buy-to-let IMHO - you need some aside for periods the place is not rented, plus buying costs, plus deposit - and you usually need a decent sized deposit unless you plan to spoof the mortgage company)
Mind you I think scooby96's suggestion is best
Medium risk try shares or buy-to-let (small amount for buy-to-let IMHO - you need some aside for periods the place is not rented, plus buying costs, plus deposit - and you usually need a decent sized deposit unless you plan to spoof the mortgage company)
Mind you I think scooby96's suggestion is best
20 April 2004, 07:42 PM
#19
Scooby Regular
Join Date: Feb 2001
Posts: 9,307
Likes: 0
Received 0 Likes
on
0 Posts
im very bullish on the housing market but even so....unless you are allready into the property market its an easier step to go equities and PROB a lower risk option (with the ability to diversify) than prop with a PROB similar growth potential.
20 April 2004, 08:31 PM
#21
Scooby Regular
Join Date: Apr 2003
Location: Between the Fens and the Wolds.
Posts: 3,027
Likes: 0
Received 0 Likes
on
0 Posts
Definately NOT shares... I lost 30K due to 11/9 and it still stings.
Property is a good investment...in 6 years my house has more than doubled in value. Depends where you are of course and if you're likely to want to get your mits on the dosh at some time.
Otherwise, bank it in a high interest savings account and let it sit awhile.
Property is a good investment...in 6 years my house has more than doubled in value. Depends where you are of course and if you're likely to want to get your mits on the dosh at some time.
Otherwise, bank it in a high interest savings account and let it sit awhile.
20 April 2004, 08:35 PM
#22
Scooby Regular
Join Date: Feb 1999
Location: Cardiff. Wales
Posts: 11,758
Likes: 0
Received 0 Likes
on
0 Posts
All shares fell in the aftermath of 9/11. But if you didnt sell and held, then things are coming right again.
Too many ppl expect an instant profit fom shares which doesnt usually happen but over time nearly always will.
Chip.
Too many ppl expect an instant profit fom shares which doesnt usually happen but over time nearly always will.
Chip.
20 April 2004, 08:36 PM
#23
Scooby Regular
Join Date: Apr 2003
Location: Between the Fens and the Wolds.
Posts: 3,027
Likes: 0
Received 0 Likes
on
0 Posts
And steer clear of financial advisors too. All they do is rake off their portion and run a mile if it all goes pear-shaped.
Read the small print on any investing you are thinking of doing, chances are, someone somewhere is making a packet out of you.
Read the small print on any investing you are thinking of doing, chances are, someone somewhere is making a packet out of you.
20 April 2004, 08:37 PM
#24
Scooby Regular
Join Date: Jul 2003
Location: "Resp ir Ator"
Posts: 797
Likes: 0
Received 0 Likes
on
0 Posts
Buy four monkeys (approx 2K) and train them in all aspects of horticulture. (5K). Invest in some heavy machinery, sit on lawn mower, Commercial strimmers etc (5K) set up a small landscaping and gardening enterprise. Put in a tender to your local council for upkeep of verges and parkways and watch the money roll in.
Spend the rest on nuts and bananas to keep your workforce happy.
Spend the rest on nuts and bananas to keep your workforce happy.
20 April 2004, 08:38 PM
#25
Scooby Regular
Join Date: Apr 2003
Location: Between the Fens and the Wolds.
Posts: 3,027
Likes: 0
Received 0 Likes
on
0 Posts
Well I didn't panic on my shares, it was a fixed maturity thing which just happened to be timed badly with those poor souls who perished.
Another investment paid out (albeit poorly)but the ones who bought in at the next issue lost the lot.
Another investment paid out (albeit poorly)but the ones who bought in at the next issue lost the lot.
20 April 2004, 08:42 PM
#26
Scooby Senior
Join Date: Nov 2001
Location: West Yorks.
Posts: 4,130
Likes: 0
Received 0 Likes
on
0 Posts
You've never lived till you've done a line off a hooker's tummy ! Go for the coke and ****** ! :; But leave enough change for a cigar afterwards - Hamlet will do, no need to be extravagant.
20 April 2004, 08:50 PM
#27
Scooby Regular
Join Date: Dec 2002
Location: Logged Out
Posts: 10,221
Likes: 0
Received 0 Likes
on
0 Posts
Originally Posted by Spoon
20k isn't a lot of money to realise a great deal to be honest so your best bet would be to buy Premium Bonds with it.
20 April 2004, 09:05 PM
#28
Scooby Regular
Join Date: Feb 2001
Posts: 9,307
Likes: 0
Received 0 Likes
on
0 Posts
"And steer clear of financial advisors too."
good idea....service your own car and do minor operations in your kitchen with a cutlery set!
steer clear of bad advisors.....i have lots of clients that didnt loose out in 9/11 and plenty that have made a lot of money since.
T
good idea....service your own car and do minor operations in your kitchen with a cutlery set!
steer clear of bad advisors.....i have lots of clients that didnt loose out in 9/11 and plenty that have made a lot of money since.
T
20 April 2004, 09:10 PM
#29
high risk aim stocks, thats where all my money goes
but its not for the faint hearted - high profits and high risks, I blow my cgt allowance every year, try 100s of percent returns over a crappy bank accounts 4 or 5 %
but its not for the faint hearted - high profits and high risks, I blow my cgt allowance every year, try 100s of percent returns over a crappy bank accounts 4 or 5 %
