where to put 80k?

[JoeMarano]

So at the minute the cash has probably earned me all of £1 interest sitting in a normal HSBC account.

Where should I put the money? Any one hot on this sort of thing.

Risk free would be the choice

[ApOrbital]

In my bank account.

[Oakey]

How about in the finance forum?

[JoeMarano]

Didn't look like it would get much ahem "interest" in that forum.

[darker grapefruit]

BTL.

[Zoon]

75k in one high interest account and the other 5k in another with a different bank to take advantage of the FSCS.

[BRISTOL86]

Not being a powerfully built company director, threads like this make me sad.

[JoeMarano]

A high interest account nowadays is bugger all am I correct?

[JoeMarano]

BRISTOL86 said:

Not being a powerfully built company director, threads like this make me sad.

I sold my house and made some profit on it. Trust me I'm anything but a businessman I drive a Polo remember

[longshot]

are there any high interest accounts now?

I have a stash (nowhere bloody near £80k though ) that I would like more th
an about 1 per cent from.

[Steamer]

Well £20k of that in the Santander 123 account will get you about £50 a month for starters if you want easy access to it

Another £50k in premium bonds 'might' see another £25 or £50 a month - again very easy access options

Edited by Steamer on Wednesday 1st June 13:04

[JoeMarano]

I was thinking maybe someone could come up with something unconventional for someone in my shoes. Maybe buy a business or anything. Just after suggestions really as the normal sensible side of me says just put it in a high interest account but that said I'm anything but savvy when it comes to finance etc so open to any suggestions.

[nbetts]

You cab get on up to 3% on up to £20k in a Santander and NatWest type account.

SO that takes care of £40k

That other 40k you can put into Premium Bonds and you may just get lucky...

Those are the low risk, high street type things that you can do easily

[droopsnoot]

This web site gives you an idea of what you can get from it in various current accounts. There's also regular savings accounts that can help soak up a few extra thousand: https://www.bankaccountsavings.co.uk/calculator

According to that you can use up £48k and get 3.1% AER on it, probably a bit more if you can be bothered opening more accounts.

[JoeMarano]

Steamer said:

Well £20k of that in the Santander 123 account will get you about £50 a month for starters if you want easy access to it

Thanks!

I suppose that's not too bad considering the times we are in and considerably more than we have earned so far!

[Doofus]

I'm struggling to find any accounts paying much over about 1.5% at the moment. Do you need the cash, or can you tie it up? If you can do without it, then a fixed term bond will get you a reasonable (comparatively) rate. Otherwise, an ISA, because it's tax free, and a bank savings accout.

[BrassMan]

JoeMarano said:

A high interest account nowadays is bugger all am I correct?

Nothing like that high.

Gold sovereigns? Magic cards? Stamps?

[Zoon]

JoeMarano said:

Maybe buy a business or anything.

Buying a business or "anything" doesn't exactly fit the risk free criteria though?

[FrankAbagnale]

Buy a car. Something you think will appreciate in value. With risk comes reward.

[JoeMarano]

I did buy a car. Not going to go anything but down in value I'm afraid