Best way to invest 3k?
16 July 2007, 02:00 PM
#1
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Best way to invest 3k?
Whats the best option these days for a reasonable return? Want to invest 3k for at least 12 months
Nationwide or Halifax or the likes ISA?
Nationwide or Halifax or the likes ISA?
16 July 2007, 02:16 PM
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I wazzed 3k into an ISA not so lng back with the Portman Building Society... 90 day notice jobby but as a result higher interest gains... With 3k to save there's no better place to go than ISA world 
(imo)
(imo)
16 July 2007, 02:19 PM
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With interest rates on the way up "it depends". Savings rates should be on the up and for safe or low risk investing, maybe they're a better bet than investing in equities.
If you can afford to lose part of it or all of it, though, the potential returns in equities - funds or funds via an ISA have the potential to greatly outperform savings.
Safe: Find an cash ISA with a good rate. As you can afford to put the money away for 12 months, look for bond, notice or term accounts as well as instant access ones.
Not so safe: Plonk it into equities. Use www.morningstar.co.uk or TrustNet - Investment Funds Information Service to get information. Minimum investment in unit trusts or OEICs tends to be a grand but check first.
PS: You could also split the risk. Say £2K into savings and £1K into funds.
PPS: Take advice from an IFA about the investing.
J.
If you can afford to lose part of it or all of it, though, the potential returns in equities - funds or funds via an ISA have the potential to greatly outperform savings.
Safe: Find an cash ISA with a good rate. As you can afford to put the money away for 12 months, look for bond, notice or term accounts as well as instant access ones.
Not so safe: Plonk it into equities. Use www.morningstar.co.uk or TrustNet - Investment Funds Information Service to get information. Minimum investment in unit trusts or OEICs tends to be a grand but check first.
PS: You could also split the risk. Say £2K into savings and £1K into funds.
PPS: Take advice from an IFA about the investing.
J.
16 July 2007, 02:19 PM
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Unless you are servicing debt at 19% APR and then there may be other ways.
In fact if you have debt at any more than you can achieve from a CASH ISA environment, settle your debt first.
In fact if you have debt at any more than you can achieve from a CASH ISA environment, settle your debt first.
16 July 2007, 05:02 PM
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16 July 2007, 06:11 PM
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Snug Rhino hits it on the head really. You are only talking about 3k here, so if you havent already used you allowance then a cash ISA is the best place.
Should be able to get about 6.25% or so, and its tax free.
Should be able to get about 6.25% or so, and its tax free.
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