investment guide, >50K
Discussion
Find out if there any any penaltys for paying off your morgage.
Unless your still on a low fixed rate your probably best off paying off the morgage than investing the money elsewhere.
If you paying 7% on your morgage and the best savings rate you can find is 6% then its best to use the money to pay off your morgage. Only disadvantage is that you will no longer have access to the funds, should you need it.
I dont know what to advise as far as other investments. ISA is good if you dont already have one (and open them for your wift/kids as well)
Unless your still on a low fixed rate your probably best off paying off the morgage than investing the money elsewhere.
If you paying 7% on your morgage and the best savings rate you can find is 6% then its best to use the money to pay off your morgage. Only disadvantage is that you will no longer have access to the funds, should you need it.
I dont know what to advise as far as other investments. ISA is good if you dont already have one (and open them for your wift/kids as well)
We have a reasonable mortgage and don't want really to use a lump sum to decrease payments,
if anything shorten its term,
but would rather see what options are available to place it elseswhere en-masse.
Obviously expected a raft of humorous suggestions BTW but was hoping someone could offer some experiences
if anything shorten its term,
but would rather see what options are available to place it elseswhere en-masse.
Obviously expected a raft of humorous suggestions BTW but was hoping someone could offer some experiences
Edited by Mactac on Saturday 12th April 18:08
I am looking at exactly the same thing, pay off mortgage or invest, was seriously looking at a 2bed apartment in the alps but the Euro being so strong has made not as attractive, might just sit on it and see what happens, if Euro goes up might buy abroad, if house prices keep dropping I might buy something over here, I think it's a time of waiting...I wouldn't make any rush decisions
2 5HAN said:
I know its a bone of contention here but you are allowed to chuck up to 30k in Premium Bonds and if you are trying to decide what to do with it at least you have a chance of a win or two, whilst you make your mind up.
I've recently invested various sums into into a short term fixed bonds and last year I bought £8k worth of Premium Bonds as well. I've won £550 in 8 months so far which is a return I'm happy with. I've just thrown another 12K into them as I think it's as good an investment as anywhere currently.Don't forget your case ISA allowance, which has just gone up to £3600. I also committed to invest £2.5k over 12 months in a 10% gross accounts with HSBC. It was the maximum they allowed and I think was part of their January 'sale'. Not sure if that type of deal is about currently though!
Mactac said:
ISA's
Is it that 3600 to start with rising yearly to amaiximum of 7K
Or do I have wrong end of stick again?
Currently you have a £3600 allowance per year for a cash ISA (up from £3000 this tax year). You can keep adding to that on a yearly basis with no limit and the earnings are tax free.Is it that 3600 to start with rising yearly to amaiximum of 7K
Or do I have wrong end of stick again?
You have an overall allowance of £7600 but only £3600 of that can be a 'Cash' ISA. The balance can be invested in stocks and shares (Equities) which are designed for a longer investment term.
We have used a mix of ISA's (mug not to as it is tax free), managed funds and high interest accounts with instant and 30 day access. The better high interest accounts all have some downside like no interest in the month you make any withdrawals. So we opened two accounts so that if we have to withdraw money we move it all into the second account via the current acount where we take out what we need, so that we start to get interest on the money for the rest of the month. Bit of a mess but as long as you don't do it every month it is manageable. You have to watch the advertised rates as some 9and most of the better ones) are only for 6 or 12 months.
We also put some money in some sort of insurance product *(the exact name of which escapes me) which allows a 5% capital withdrawal each year without tax. That is the only money tied up which we would definitely lose on if we tried to take it out within 3-5 years and although some of the managed funds have lost money of late some of it is in bonds and commodities which lesssen the risk a bit. As the markets go down some of the funds have gone up which takes out the sting.
IFA is probably the best route? PH will no doubt suggest hookers and coke.
We also put some money in some sort of insurance product *(the exact name of which escapes me) which allows a 5% capital withdrawal each year without tax. That is the only money tied up which we would definitely lose on if we tried to take it out within 3-5 years and although some of the managed funds have lost money of late some of it is in bonds and commodities which lesssen the risk a bit. As the markets go down some of the funds have gone up which takes out the sting.
IFA is probably the best route? PH will no doubt suggest hookers and coke.
Chateau d'Yquem 2001. I just bought a case for investment, cost me £4000, The Times said it could be worth £20,000-£30,000 in 10 years, and I spoke to a wine expert and he said it was virtually impossible for it to go down in value. Funnily enough I was thinking how to get £50,000 to spend on several cases before I found this thread, but being 16 means it is virtually impossible.
Mr Beaumont said:
Chateau d'Yquem 2001. I just bought a case for investment, cost me £4000, The Times said it could be worth £20,000-£30,000 in 10 years, and I spoke to a wine expert and he said it was virtually impossible for it to go down in value. Funnily enough I was thinking how to get £50,000 to spend on several cases before I found this thread, but being 16 means it is virtually impossible.
Already worth £4500 
Where do you keep it - or do you simply buy it and it's looked after by a third party?
mogul said:
2 5HAN said:
I know its a bone of contention here but you are allowed to chuck up to 30k in Premium Bonds and if you are trying to decide what to do with it at least you have a chance of a win or two, whilst you make your mind up.
I've recently invested various sums into into a short term fixed bonds and last year I bought £8k worth of Premium Bonds as well. I've won £550 in 8 months so far which is a return I'm happy with. I've just thrown another 12K into them as I think it's as good an investment as anywhere currently.mogul said:
Mr Beaumont said:
Chateau d'Yquem 2001. I just bought a case for investment, cost me £4000, The Times said it could be worth £20,000-£30,000 in 10 years, and I spoke to a wine expert and he said it was virtually impossible for it to go down in value. Funnily enough I was thinking how to get £50,000 to spend on several cases before I found this thread, but being 16 means it is virtually impossible.
Already worth £4500 Where do you keep it - or do you simply buy it and it's looked after by a third party?
Edited by Mr Beaumont on Sunday 13th April 12:31
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