Deep Singh

Firstly please don't put up a link to moneysupermarket type website, too many choices and too much small print. My needs are

1) Lump sum deposit, not reg saver

2) Growth, not monthly income

3) Happy to not touch it for a few years

4) Wife and I are both HRTPayers

5) NO RISK to capital!!!

Options are

NS and I 37th issue 2 year fixed at 3.95% tax free

NS and I index linked certs fixed for 3 years that pays index link + 1.35% tax free.

These two seem attractive due to tax free status, but if IRs hit 8% next year(not saying they will but...) I'll feel sick as a dog. If I just use a high interest 30 day account I'll get 5.5% but after 40% tax the return may not even keep up with inflation if that continues to rise!!

I'm very confused!

davyboy

Scoobynet is always the first place to come for financial advice

Matteeboy

Crack and dope dealing.

Sub97

Ah, another Deep Singh "how can I subtly flaunt my wealth" thread. Must be a couple of weeks since the last one I spose..

PeteBrant

The "No risk to capital" proviso means you may as well stick it in a high interest account, high street account.

Complete waste of time. You'll never be rich with that attitude

jasey

Put in shares for Kitchen manufacturers.

There's always some mug willing to pay over the odds for a new kitchen

PeteBrant

Any share dealings are out by default.

jonc

There are a few banks in Nigeria that are waiting to have their millions snapped up, just need a few personal details and lump sum of money to complete the transaction.....

what would scooby do

I would to split investments depending on how much capital.

max out cash ISA's for both of you
punt some into premium bonds
right now is a good time to risk a small amount of your capital into stocks and shares

that's what I do currently

Matteeboy

Having been guilty of such a thread, I think you hit the nail on the head there!

Stick it in savings but make sure you mention it loudly at all social events.
"OF COURSE, HSBC HAVE A £50K LIMIT ON THEIR SAVINGS ACCOUNTS SO I HAD TO GO ELSEWHERE" or similar...

jasey

https://www.scoobynet.com/diy-39/466...tml?showfull=1

PeteBrant

Aha

Spoon

That's the 24th October 2005!! You need to let go, Jasey.

Luan Pra bang

How is he flaunting wealth. I have 100k spare to invest is flaunting your wealth not where is good to save money. I understand you may be a little sensitive to you fiscal circumstance but don't project this to others and let it make you bitter.

jasey

.

do a search on "Deep Sing Money to spend" and google crashes

Matteeboy

First suggestion -stop throwing money at the tax office, employ yourself and stop paying HRT!

That's a true mugs game - That's half your money gone before you even see it.
Much much wiser ways to get at your money...

Oh, by the way, I'm going to buy Cornwall. Will I have to pay capital gains tax if I sell it?

jasey

You'd have to - but the big eared tw@t you buy if from wont have to

Matteeboy

I did think that was a bit off but Chaz is throwing in Cumbria for free as a gesture.
Nice of him I thought.

Petem95

1) Icesave - 6.2% AER, no fees or catches to withdraw, and they up their interest rates almost instantly, whereas most of the others give it a month or so. ICICI is a slightly higher rate, but have heard some horror stories so havent risked it. Some better rates about, but all teaser rates.

2) NS&I index linked bonds. These are too good to miss - read the small print and either 3 or 5 year fixes can be withdrawn after 12 months or more without penalty. RPI + 1.3% odd and no tax (so ~5.5% tax free)- RPI looks set to rise and stay high for some time, so makes these almost too good to be true - higher rate tax payers mad to miss these.

Remember to spread money between banks if possible - only ~30k is insured.

LordOfTheRings

so because Mr singh is a professional who doesnt waste his money on stuff he doesnt need like the average brit you guys attempt to mock him? Go and get wasted by yourself at home or down the pub and let the non money wasters discuss in some more mature matters of life.

wrx-kris

LOL @ RingLover

RJMS

iTrader: (2)

Offset mortgage - assuming you have a mortgage in the first place - effective mortgage rates + no tax liability.

Deep Singh

Get a life. There is nothing offensive nor ***** waving about my question, the fact that you see it as such speaks volumes about you and the huge chip on your shoulder

LordOfTheRings

well said

Jaybird-UK

Invest £5 (or even £10!) in becomming a Scoobynet member

turboman786

Blimey, masses of bad attitude on here. Good luck to Deep if he has cash to invest. I dont understand the mentality that prevails in the UK that mocks those who are financially secure and prudent - I really cant see how this thread could be intepreted as showing off, it sounded like a genuine enquiry to me. The mentality that views it as showing off is sad and jealous, and sadly is indicative to the loser attitute that seems to prevail at the moment.

As for no risk investments, I think the choices are pretty limited. Personally I like to work my money as hard as I can and that usually involves investing in busines sopportunities that come along.........the cash economy is where it is at......PAYE economy is for mugs (and thats coming from a HTP who is sick of paying this corrupt government half my hard earned!)

Maz

iTrader: (34)

Given the current climate of debt and borrowing and lack of foresight by the majority of the population, I can see why this thread may irk some. However good luck to Deep his hard work and prudence has provided a healthy yield. The general work for the weekend and blow your wage over three days is why the most young people are skint. Save, save, save and things will be much easier as you get older.

Nigel H

This is the best straight cash account I've found, would be happy for others to find better for me

Halifax - Guaranteed Reserve

Petem95

Thats 6.20% over one year;

This ones 6.70% AER over a year!

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