lambertpig Posted May 12, 2008 Share Posted May 12, 2008 hi everyone been off here for a while having some big life changes going on sold my business : great !!! split with my partner and mother of : terrible !!! sold the supra : no prob its only a car !!! have a new girlfreind : not for long shes 22 i 41 !! anyway things are sort of settling down still living with ex untill we sort her somewhere to live now to the point !!! any financial advisers on here? as i said my businesss of 20 years is sold and i have a fair lump of cash which i want to make work for me. i dont want to buy another business as have 3 part time jobs tying me over plus aim to dabble in used cars for fun. what would be the best thing to put the money in for maximum return at no or min risk for 1 year poss 2 untill the housing market bottoms and i can look at property prehaps? was thinking of high interest bonds but any unbiased proffesional advice would be great thanks in advance Link to comment Share on other sites More sharing options...
colsoop Posted May 13, 2008 Share Posted May 13, 2008 Im no financial advisor but the fixed term bonds are a good bet at the moment. Banks want your money to invest elsewhere so if you can keep it tucked away they offer some good rates. Shop around for the best rate, i have seen some around 5.5%. Link to comment Share on other sites More sharing options...
JamieP Posted May 13, 2008 Share Posted May 13, 2008 With no risk you wont get much for your money, cash isa are ok, i have 17k in one but only get £70 per month from that and you can only pay in £3600 per year so takes a while to build up. Link to comment Share on other sites More sharing options...
Feakins Posted May 13, 2008 Share Posted May 13, 2008 Maybe just have a look on the net for the best accounts, financial advisors will usually look at 5 years+. http://www.fool.co.uk/savings/term-bond-accounts.aspx Link to comment Share on other sites More sharing options...
JamieP Posted May 13, 2008 Share Posted May 13, 2008 Anyone got premium bonds? anygood? Link to comment Share on other sites More sharing options...
colsoop Posted May 13, 2008 Share Posted May 13, 2008 Anyone got premium bonds? anygood? Yep, mine returns about the same as a high interest savings account, but there is always the chance of a high prize and it is completely safe. I use it as a safe investment alongside something with a bit of risk. Link to comment Share on other sites More sharing options...
razza Posted May 13, 2008 Share Posted May 13, 2008 Anyone got premium bonds? anygood? pile of wa*k, got loads but have only won £50 last month and £50 in Oct, would get a far better return in the bank, but there's always the gamble of the big win. The missus has asked me to take them out and put them in the bank to get some money for the next few months before the wedding. I'm hoping she forgets lol! As I like a gamble and at least I still get my investment back. come on £1mm...... Link to comment Share on other sites More sharing options...
twijesiri Posted May 13, 2008 Share Posted May 13, 2008 Mate, I did a fixed term bond for my mum with Abbey a month ago no risk and and a 6% which aint bad. short termas well 2years. Link to comment Share on other sites More sharing options...
Gruggs Posted May 13, 2008 Share Posted May 13, 2008 if you want no risk then you are looking at bonds and government guilds. If you are prepared for a little risk speak to a reputable financial advisor and they'll have a variety of products with one no doubt being based on blue chip investing. One of the most lucrative at the minute for low risk is fund investment that focuses on dividend income rather than capital growth...i.e stick your biggest bucket under the company that has the largest stable rainfall (dividends). At 41 should you not be thinking of a pension..i mean you must almost be senile by now! Cheers G Link to comment Share on other sites More sharing options...
lambertpig Posted May 14, 2008 Author Share Posted May 14, 2008 Anyone got premium bonds? anygood? yes i bought the max 30k and the first month won £200 the highest interest anywhere would only give 140 a month so a promising start Link to comment Share on other sites More sharing options...
lambertpig Posted May 15, 2008 Author Share Posted May 15, 2008 thanks for the replies .pretty sure i will go for fixed rate bonds some braches are offering 6.75+% fixed for one year which will give great returns going to keep the p bonds as they started so well. thanks Link to comment Share on other sites More sharing options...
marbleapple Posted May 15, 2008 Share Posted May 15, 2008 I have an independent financial advisor. If you would like his details please just pm me. Link to comment Share on other sites More sharing options...
Kim1978 Posted July 4, 2008 Share Posted July 4, 2008 short interest bonds if you are only looking for a low-risk investment for 1-2 years.....or you put the money on a high-interest savings account Link to comment Share on other sites More sharing options...
keener Posted July 4, 2008 Share Posted July 4, 2008 Initially I would stick as much as you can (up to £3600 per year) into a cash ISA for the tax free savings bit, open an Alliance and Leicester premium direct current account, stick in the max of £2500 to get 8.5% use it a bit and make sure you put in the requested £500 per month to keep it as close to £2500 as you can. (Prob best to keep your existing current a/c if not with A&L and just transfer £500 to A&L from it each month). Also set up a regular savings account, there are some that will let you put in up to £500 per month, so you could transfer £500 from the A&L a/c in to it and top up the A&L a/c with a replacement £500 at the same time so each new account is happy and you're making the max from that bit of dosh. Most regular savings a/c's will only give you max interest (some are at 10%) if you leave all the money in there for a year but it sounds like that's the sort of timescale you're looking at anyway. The rest put it some kind of high interest a/c - there are some around the 6.5 to 7% mark and lots allow instant access too. Some of the fixed term bonds are the same interest rate but the money is tied up for a year or two so pointless as you get penalised if you take money out earlier. Remember only the first £35,000 is protected by law at the moment if the bank has problems - like Northern Rock did - but the government is thinking about raising it to £50,000. I'm not a financial advisor or anything so if you're concerned ask one for advice of course. I just juggled my savings around recently and did a lot or research first so know about some of the stuff out there at the moment. I would stay away from the stock market in any form, be it stocks and shares ISA's or savings bonds given the global financial state at the moment. For guaranteed results just go with the highest rate savings you can get. Stocks are a big risk over the short term at the moment. Check out http://www.moneysavingexpert.com/ for all kinds of free and unbiased advice. Note: all the above is only my opinion and at the end of the day you should do what you feel comfortable with. Link to comment Share on other sites More sharing options...
ivan Posted July 4, 2008 Share Posted July 4, 2008 My missus has been looking around at different options too. That A&L Premium Direct current account looks good - but it hasn't got very good reviews though: http://www.reviewcentre.com/reviews101583.html Link to comment Share on other sites More sharing options...
keener Posted July 4, 2008 Share Posted July 4, 2008 I opened the A&L a/c no problem and all my dd's got transfered by them with no probs either. I keep it topped up to as close to the £2500 as possible to get the best return with the interest rates so I've never had any issues with being overdrawn. Also I've never called customer services so can't comment on them. As with anything you should read all the T&C's thoroughly to see if it suits how you bank. I think there's advice on MoneySavingExpert website as to what to go for if you always stay in credit, occasionally go overdrawn, overdrawn every month etc. Link to comment Share on other sites More sharing options...
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