where to put 80k?

Author
Discussion

chopper602

2,186 posts

224 months

Wednesday 1st June 2016
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Gold bullion or at least a share in some . . . that's pretty risk free isn't it ?

rsbmw

3,464 posts

106 months

Wednesday 1st June 2016
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My great uncle, the King of Nigeria, has a financial proposition that may interest you.

Rouleur

7,032 posts

190 months

Wednesday 1st June 2016
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Best thing you can do is get this thread moved to the Finance forum...

jdw100

4,126 posts

165 months

Wednesday 1st June 2016
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I'm getting 8% on £100k tied up for one year.

But I live in Indonesia....

Government takes 15% of the interest - but still a good return I reckon.

Anything I put in the related account also earns 8% whilst the £100k remains on deposit.

Better than anything Barclays could offer back in UK.....by quite a margin!

JoeMarano

Original Poster:

1,042 posts

101 months

Wednesday 1st June 2016
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rsbmw said:
My great uncle, the King of Nigeria, has a financial proposition that may interest you.
Hey I'm sure there are plenty of Nigerians that are lovely people. Granted I've not met any yet either but that's another story.

PanzerCommander

5,026 posts

219 months

Wednesday 1st June 2016
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Spend £8000 - £10000 learning to fly its great fun.

Pay a lump off the mortgage (though with that much as a lump sum in the bank I'd imagine you haven't got one anyway), buy a nice tow vehicle, trailer and a track car.

Spend it (or some of it) somehow, makes no sense to be the richest man in the graveyard.

LivingTheDream

1,756 posts

180 months

Wednesday 1st June 2016
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Invest it in my home extension, plannings all done, just need the funds to start work.

It'll be an interactive investment, I'll send you pics of the work being done and write a blog on 'What has your money achieved today?'

You'll be making a little girl who wants to move out of the tiny box room very happy and it'll definitely be risk free, I'll pay it back with some interest.

Win win

JoeMarano

Original Poster:

1,042 posts

101 months

Wednesday 1st June 2016
quotequote all
PanzerCommander said:
Spend £8000 - £10000 learning to fly its great fun.

Pay a lump off the mortgage (though with that much as a lump sum in the bank I'd imagine you haven't got one anyway), buy a nice tow vehicle, trailer and a track car.

Spend it (or some of it) somehow, makes no sense to be the richest man in the graveyard.
We used it to pay off loans on missus car etc and to get my horrendous terrible new Polo Gti (lol)

So yeah no mortgage at present but the money will be used to go towards the next mortgage in however many years that may be (the cost of my armed forces accommodation is very very cheap so I'd rather not pay for a mortgage again for quite some time)

Just want to make as much money risk (and hassle) free from it as I can.

I could buy another property and fix it up but that's so much hard work I really can't be assed!

JoeMarano

Original Poster:

1,042 posts

101 months

Wednesday 1st June 2016
quotequote all
LivingTheDream said:
Invest it in my home extension, plannings all done, just need the funds to start work.

It'll be an interactive investment, I'll send you pics of the work being done and write a blog on 'What has your money achieved today?'

You'll be making a little girl who wants to move out of the tiny box room very happy and it'll definitely be risk free, I'll pay it back with some interest.

Win win
If I was a millionaire I would. But sadly it's too much of a risk lol

CaptainSensib1e

1,434 posts

222 months

Wednesday 1st June 2016
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There's a really useful website called 'Money Supermarket' which lists all the savings accounts ranked by interest rate. Pick a couple covered by FSCS and off you go.

davek_964

8,836 posts

176 months

Wednesday 1st June 2016
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LivingTheDream said:
Invest it in my home extension, plannings all done, just need the funds to start work.

It'll be an interactive investment, I'll send you pics of the work being done and write a blog on 'What has your money achieved today?'

You'll be making a little girl who wants to move out of the tiny box room very happy and it'll definitely be risk free, I'll pay it back with some interest.

Win win
I have a similar dilemma to the OP, with cash earning 0.0000001% interest - and, for the past few years I've been saying I should replace my existing conservatory (think lean-to green house) with a "proper" one - and doing so would no doubt add value to my small house, and make it much easier to sell should the day ever come. But it's so tricky.... while it's in the bank, even though it's earning zilch - at least it's still available if I want a very expensive 4 wheel toy! Plus, a knackered old lean-to greenhouse still works surprisingly well on a nice day - kind of.

On the earlier subject of flying lessons, I tried that once thinking it would cost me a fortune but found it really dull. "Head for that hill over there" is a lot less exciting in a straight line than down a twisty road! (Now, if somebody wants to teach me in a Mig, then we're talking).

jshell

11,039 posts

206 months

Wednesday 1st June 2016
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chopper602 said:
Gold bullion or at least a share in some . . . that's pretty risk free isn't it ?
Got some lovely beans for sale over here. Magic!

JoeMarano

Original Poster:

1,042 posts

101 months

Wednesday 1st June 2016
quotequote all
CaptainSensib1e said:
There's a really useful website called 'Money Supermarket' which lists all the savings accounts ranked by interest rate. Pick a couple covered by FSCS and off you go.
That was our original plan. It just doesn't seem to pay that much!

Edited by JoeMarano on Wednesday 1st June 13:59

h0b0

7,639 posts

197 months

Wednesday 1st June 2016
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JoeMarano said:
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.
I am getting 14% on an investment in peer to peer lending. Most people will scoff at the idea because there is a risk. I will admit that if everyone was paying on time I would be at over 21% growth. Due to me being in the US the Tax is painful but still beats any other investment I could get into hands down.

There's a lot to know about P2P investing though. First is that if you try and do it on your own then you will get poor returns. So, I use an algorithm at a small cost. My neighbor is a trader in NY and he was heavily invested in a Hedge fund that was 100% P2P based. They were spread over multiple platforms but were not gaining the growth that I have seen. The next thing to know about is the way you invest. I am only exposed to each individual to a max of $25. I am spread over hundreds of people at various risk profiles. If one person stops paying then I lose $25 total.

But, this is a long term investment. You fund 3 or 5 year loans and that is how long it takes to get your $25 back. It is possible to sell loans, even at a profit, but I would not go into P2P thinking you can jump in and jump out.

Finally, the big banks have been driving the negative perception of P2P lending because it hurts their profit. Take a look at the funding profile of the largest P2P platform in the US though and you will see that over 70% is institutional - Banks! Take a look at the board and John Mack is there formally from Morgan Stanley.

There was some bad publicity recently over the way the Lending club was investing institutional money. This did not impact the individuals though and is not a concern for me. I have only been in for 6 months and I have not gone all in yet because I am testing the Water. but, if I continue to get 14% growth then I will be taking a serious look at my 401K (pension investment fund) which has shown almost no growth in 3 years.

JoeMarano

Original Poster:

1,042 posts

101 months

Wednesday 1st June 2016
quotequote all
Interesting. Don't think the other half would go for it though as (to us) 80k is a lot to take a risk on.

I had been using the plus 500 app for a few months and had been pretty successful at making "virtual money" (it's the same as the "real money" version although I doubt she would go for that either...

Best choice is the high interest accounts then I reckon. I could really do with the interest rates going up now I don't have a mortgage to worry about smile

h0b0

7,639 posts

197 months

Wednesday 1st June 2016
quotequote all
The other benefit of P2P investments for me is that I can be in charge of the investment myself. Due to my wife's job in finance we are very restricted in what we can do and who manages the money. I just sold a small amount of stock and she received and email saying that if we do that again she will be fired!

For me there is a "cooling off" period for any purchases and sales of stock. This cooling off period equates to "missing the boat" period or even worse "watching my money go down the drain while others jump" period. It can be up to 6 months on an investment so any investing I do is already mid term and restricted.

Impasse

15,099 posts

242 months

Wednesday 1st June 2016
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Into a V12 Vantage. Any other suggestions aren't really worth considering.

deckster

9,630 posts

256 months

Wednesday 1st June 2016
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£80k spare, you don't currently have a house, and no immediate need to buy one to live in?

Use it as a substantial deposit on a BTL, surely. You won't be stung by the second-property stamp duty hike and the chances of your overall gain being less than a savings account are pretty much zero - and the chances of it being much, much higher are pretty good. It's more hassle for sure, but I don't see any other option as giving you anything like as much return for as little risk.

Garvin

5,193 posts

178 months

Wednesday 1st June 2016
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Impasse said:
Into a V12 Vantage. Any other suggestions aren't really worth considering.
Nah, still depreciating. A nice F355 on the other hand . . . . . . . .

jshell

11,039 posts

206 months

Wednesday 1st June 2016
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Garvin said:
Impasse said:
Into a V12 Vantage. Any other suggestions aren't really worth considering.
Nah, still depreciating. A nice F355 on the other hand . . . . . . . .
Except there's more than 80 of them for sale on PH alone...apart from that, great punt!