Where to park a million pounds...

[Simpo Two]

Buy a boat. There's sure to be one that will cope with an acceptable amount of that profit

Edited by Simpo Two on Wednesday 22 March 19:21

[R33FAL]

If you need it to be low risk, you put it in government bonds with short-dated maturities that yield (at the moment) around 4%. The idea of spreading it around 12 banks to keep within the £85k cap is laughable and not a practical solution- sorry.

[Leithen]

Pay off debt, relocate to zero dividend tax country.

[RSTurboPaul]

Convert some to gold Britannias and stash them away somewhere safe while the BRICS nations sort out their gold-backed currency before toppling the USD as the World Reserve Currency? Likely to at least keep pace with inflation in the long term, whatever the BRICS arrangements deliver.

[/tin foil but not that tin foil] lol

[soad]

jeff666 said:

Buy land,

they aint making it anymore.

"Buy land, AJ, 'cause God ain't making any more of it" -Tony Soprano

[LuckyThirteen]

R33FAL said:

If you need it to be low risk, you put it in government bonds with short-dated maturities that yield (at the moment) around 4%. The idea of spreading it around 12 banks to keep within the £85k cap is laughable and not a practical solution- sorry.

Any recommendations for further reading on this?
Can this be done through the likes of Vanguard or II?

[andy43]

LooneyTunes said:

Al Gorithum said:

LooneyTunes said:

Fwiw, if the money’s coming out, it’s hard to beat NS&I as a secure place to park money BUT it comes at a cost due to crappy interest rate. Up to £3 in there iirc.

Last time I looked at NS&I it wasn't available to businesses, but that may have changed.

Correct, which is why I suggested it for money coming out of the business….

I didn’t know that. I like PH.
eta no I don’t have a squillion pounds but a fully protected 2.85% on any business cash is pretty decent atm.

[Mr Overheads]

WiseAlpha

[LooneyTunes]

andy43 said:

LooneyTunes said:

Al Gorithum said:

LooneyTunes said:

Fwiw, if the money’s coming out, it’s hard to beat NS&I as a secure place to park money BUT it comes at a cost due to crappy interest rate. Up to £3 in there iirc.

Last time I looked at NS&I it wasn't available to businesses, but that may have changed.

Correct, which is why I suggested it for money coming out of the business….

I didn’t know that. I like PH.
eta no I don’t have a squillion pounds but a fully protected 2.85% on any business cash is pretty decent atm.

It’s NOT for business cash, but for cash you take out of a business it’s a great option.

[Petrus1983]

Just out of interest- how much are return flights to Colombia these days?

It’s a nice position to be in - personally I’d want to be paying off the debt - it’s dead money but you’d still be able to raise capital against the buildings quickly if needed.

[Deesee]

Your Banks money market team should be able to place that on deposits to balance off Swaps/Sonia.. You should get some healthy 1/3/6/12 month quotes.. Spread the capital in segments so you always have cash maturity (just in case its required).

Or pay your corp tax in advance 0.5% pa..

NB, you could buy OEIC within the business (or groups of Businesses).

Start withdrawing cash personally and you'll have a tax bills like Rishi's.

Any hobbies, Horse Racing (buy a Horse)?

Edited by Deesee on Thursday 23 March 10:29

[dingg]

Get yourself to portugal, gain nhr (its easy) , pay yourself in monthly dividends for 10 years, free of tax... result....

[z4RRSchris]

move to Lisbon. asap.

nice weather too

[bitchstewie]

R33FAL said:

If you need it to be low risk, you put it in government bonds with short-dated maturities that yield (at the moment) around 4%. The idea of spreading it around 12 banks to keep within the £85k cap is laughable and not a practical solution- sorry.

Someone like Flagstone will manage the £85K cap stuff for you.

Not for free of course

[LooneyTunes]

bhstewie said:

R33FAL said:

If you need it to be low risk, you put it in government bonds with short-dated maturities that yield (at the moment) around 4%. The idea of spreading it around 12 banks to keep within the £85k cap is laughable and not a practical solution- sorry.

Someone like Flagstone will manage the £85K cap stuff for you.

Not for free of course

Look very carefully at this sort of service before jumping in. Put it this way, I have money in a small number of banks in preference to using them.

[bitchstewie]

LooneyTunes said:

Look very carefully at this sort of service before jumping in. Put it this way, I have money in a small number of banks in preference to using them.

Agree entirely.

I'd hope nobody would pile in with a million based off some random on the Internet but my assumption is they are named accounts literally in your name i.e. not dependent on Flagstone if "something bad" happened to them.

[Super Sonic]

Do you want me to look after it for you?

[thekingisdead]

LuckyThirteen said:

Any recommendations for further reading on this?
Can this be done through the likes of Vanguard or II?

I’d start with Monevator.
Bonds can be a little counterintuitive compared to equities.
Bond funds can be bought via vanguard, II etc, but that’s not the same as buying a bond direct from treasury (which with the amount the OP has is certainly possible)

[adamfawsitt]

You didn't really explain:

1. Your risk appetite
2. What you are looking for in return for any investment - income / capital appreciation / etc.

If you want income I wouldn't mess about spreading the money across so many banks - buy T Bills, you will get 5% and it's bombproof in terms of risk

Edited by adamfawsitt on Thursday 23 March 14:53

[Mr Pointy]

Oh look, the OP has made one post & vanished.