Where shall I put it?
Discussion
Well, I know where I'd like to. Anyway back on topic.
Where would be the best place, besides you pockets, to put say, 10K for two or three years to get the most back?
Which and what kind of account would I be looking at?
And what in real terms would 10K be after said two or three years? If it's £10,000.50 then I won't bother.
Cheers.
Where would be the best place, besides you pockets, to put say, 10K for two or three years to get the most back?
Which and what kind of account would I be looking at?
And what in real terms would 10K be after said two or three years? If it's £10,000.50 then I won't bother.
Cheers.
groucho said:
And what in real terms would 10K be after said two or three years? If it's £10,000.50 then I won't bother.
Thats hard to say, as cash is devalued over time by inflation. For example, if you kept it in cash then now its worth £10,000, but in 3 yeas time its actual value may only be £9,500 or less. So as long as you have an account with an interest rate higher than the rate of inflation, it'll be worth more that it is now and would be in 3 years time
I hope that makes sense.
How about income bonds if you don't need the investement to grow? www.nsandi.com/savingneeds/monthlyincome.jsp
andy mac said:
Is there any accounts that for example say put x amount in for x amount of years and after the term we will give you x% of your amount?
Yeah... Andy Mac plc will take your x amount, and in 5 years will give you 60% of it.. Not a bad offer if you ask me...
At first that sounded tempting until it sunk in.
m1spw said:
And what in real terms would 10K be after said two or three years? If it's £10,000.50 then I won't bother.
I hope that makes sense.
Didn't know Sir Alan visited these hallowed pages
First question would be, how risk averse are you? If you want a guarantee that the money will be there, then a savings account is the only way to go. If you're willing to take a risk then there are lots of things you could do.
Trousers can go up as well as down, your reputation may be at risk if you get caught with your trousers down in the wrong place
Trousers can go up as well as down, your reputation may be at risk if you get caught with your trousers down in the wrong place
With £10000 there is not a lot you can do to get fantastic returns unless you are willing to take a risk. ISSAs are quite good but at say 5% pa you will only get £500 a year (tax free) which is not a fantastic ammount and I think the maximum ISSA ammount is £7000.
The stock market is looking good if you can commit to a minimum of 5 years but I would suggest that you try premium bonds - you will win a few prizes each year which are tax free and if you get a big prize (the excitement of opening the brown envelope) you are quids in and your base money is always there.
>> Edited by pals4 on Sunday 11th September 16:09
The stock market is looking good if you can commit to a minimum of 5 years but I would suggest that you try premium bonds - you will win a few prizes each year which are tax free and if you get a big prize (the excitement of opening the brown envelope) you are quids in and your base money is always there.
>> Edited by pals4 on Sunday 11th September 16:09
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