£400 K ???

[PAT COBRA]

Purely hypothetically. Say my mate had £400 K in say the Chelsea Building Society in his wife's account ( forget how good looking that makes her )getting about £16 K return a year on it . 1/ Is it 100% and I mean 100% SAFE ? 2/Should it be split up ? 3/How should it be split ? He would be willing to earn less for the next few years as he CAN NOT afford to lose it. THANKS PAT

[m4tt]

£35k per FSA registration is guaranteed by the government. As to whether to split it up, it probably isn't a bad idea.

[jamesuk28]

50 k now, or is that just banks?

[edb49]

It's probably 99.99% safe. You can split it between 10 or so accounts or put it into UK gov't bonds to make it 99.999% safe.

Banks have gone bust and governments defaulted on their debt, just doesn't happen very often.

[pgilc1]

No its not. £35K is all the government would cover. IF it were in joint names, they'd cover £70K.

To be 100% safe you would need to split the money up over several banks OR move it to an irish top 5 bank as their government is guaranteeing all savings....

Purely hypothetically, we look after the finances of an elderly relative and we would hypothetically have a simalar problem.

Edited by pgilc1 on Tuesday 30th September 20:31

[shadowninja]

http://www.moneysavingexpert.com/savings/safe-savi...

[PAT COBRA]

Come on please gents , some one must have more to say on this. PAT

[Eric Mc]

What else can anyone say?

[Simpo Two]

With that kind of loot now might be a good time to snap up some property.

[pgilc1]

PAT COBRA said:

Come on please gents , some one must have more to say on this. PAT

You've been given definitive answers and a link to the same thing on moneysavingexpert?

What else do you want us to do?

[BigAlinEmbra]

NS&I and Northern Rock are 100% guaranteed if he wanted to stick it in the one place.
Dependent on your view on interest rate risk, gilts wouldn't be a bad option either.

[shadowninja]

pgilc1 said:

PAT COBRA said:

Come on please gents , some one must have more to say on this. PAT

You've been given definitive answers and a link to the same thing on moneysavingexpert?

What else do you want us to do?

Dance like the we that you are?

[BigAlinEmbra]

coyft said:

BigAlinEmbra said:

NS&I and Northern Rock are 100% guaranteed if he wanted to stick it in the one place.
Dependent on your view on interest rate risk, gilts wouldn't be a bad option either.

100% guarantee doesn't exist. The risks are hyper inflation and the State defaulting on it's guarantee. Theoretically Fiat money could become worthless. Gold has proven to be a store of value over the longer term, although in the short term I think Government's and central bakers will do everything they can to keep the price of gold depressed. However in the long run this may prove impossible. I personally would prefer to invest cash in assets that have a long term value, choosing the location and the class of asset is however a taxing subject.

Get a grip, can we talk in terms of the risks of the OP?
He wants the capital to be preserved, and the options I suggested do just that.

Buying commodities or equities won't do that as their value could well be less when he's cashing in.
Gold's been up to $1000 an oz in the past 12 months and down as low $750. Hardly protecting your capital eh?

A sub-par purchase of gilts doesn't exactly pose the same risk, does it?

Do you REALLY think the UK govt is going to default?

[PAT COBRA]

shadowninja said:

pgilc1 said:

PAT COBRA said:

Come on please gents , some one must have more to say on this. PAT

You've been given definitive answers and a link to the same thing on moneysavingexpert?

What else do you want us to do?

Dance like the we that you are?

THANK YOU. THANK YOU so much mate.It always confirms to me that I must be on the right path when people like you pop your head out of the swamp with that type of opinion of people like me. By the way jealousy is an ugly emotion and surely the wrong one for you to be displaying , may I suggest an inferiority complex may be more accurate for you. Look forward to meeting some day at a P.H. meat. PAT

[AdeTuono]

PAT COBRA said:

shadowninja said:

pgilc1 said:

PAT COBRA said:

Come on please gents , some one must have more to say on this. PAT

You've been given definitive answers and a link to the same thing on moneysavingexpert?

What else do you want us to do?

Dance like the we that you are?

THANK YOU. THANK YOU so much mate.It always confirms to me that I must be on the right path when people like you pop your head out of the swamp with that type of opinion of people like me. By the way jealousy is an ugly emotion and surely the wrong one for you to be displaying , may I suggest an inferiority complex may be more accurate for you. Look forward to meeting some day at a P.H. meat. PAT

Looks like someone needs to lighten up a little...


btw, it's 'meet'. Purely hypothetically.

Edited by AdeTuono on Sunday 5th October 00:42

[PAT COBRA]

AdeTuono said:

PAT COBRA said:

shadowninja said:

pgilc1 said:

PAT COBRA said:

Come on please gents , some one must have more to say on this. PAT

You've been given definitive answers and a link to the same thing on moneysavingexpert?

What else do you want us to do?

Dance like the we that you are?

THANK YOU. THANK YOU so much mate.It always confirms to me that I must be on the right path when people like you pop your head out of the swamp with that type of opinion of people like me. By the way jealousy is an ugly emotion and surely the wrong one for you to be displaying , may I suggest an inferiority complex may be more accurate for you. Look forward to meeting some day at a P.H. meat. PAT

Looks like someone needs to lighten up a little...


btw, it's 'meet'. Purely hypothetically.

Edited by AdeTuono on Sunday 5th October 00:42

Lighten up ??? Not like I came back as a bit of a smart ass !! ME !!!! PAT

[deadslow]

PAT COBRA said:

AdeTuono said:

PAT COBRA said:

shadowninja said:

pgilc1 said:

PAT COBRA said:

Come on please gents , some one must have more to say on this. PAT

You've been given definitive answers and a link to the same thing on moneysavingexpert?

What else do you want us to do?

Dance like the we that you are?

THANK YOU. THANK YOU so much mate.It always confirms to me that I must be on the right path when people like you pop your head out of the swamp with that type of opinion of people like me. By the way jealousy is an ugly emotion and surely the wrong one for you to be displaying , may I suggest an inferiority complex may be more accurate for you. Look forward to meeting some day at a P.H. meat. PAT

Looks like someone needs to lighten up a little...


btw, it's 'meet'. Purely hypothetically.

Edited by AdeTuono on Sunday 5th October 00:42

Lighten up ??? Not like I came back as a bit of a smart ass !! ME !!!! PAT

Yeah, that's right. More of a blow-hole

[AdeTuono]

deadslow said:

PAT COBRA said:

AdeTuono said:

PAT COBRA said:

shadowninja said:

pgilc1 said:

PAT COBRA said:

Come on please gents , some one must have more to say on this. PAT

You've been given definitive answers and a link to the same thing on moneysavingexpert?

What else do you want us to do?

Dance like the we that you are?

THANK YOU. THANK YOU so much mate.It always confirms to me that I must be on the right path when people like you pop your head out of the swamp with that type of opinion of people like me. By the way jealousy is an ugly emotion and surely the wrong one for you to be displaying , may I suggest an inferiority complex may be more accurate for you. Look forward to meeting some day at a P.H. meat. PAT

Looks like someone needs to lighten up a little...


btw, it's 'meet'. Purely hypothetically.

Lighten up ??? Not like I came back as a bit of a smart ass !! ME !!!! PAT

Yeah, that's right. More of a ass-hole

EFA