10k lump sum to (safely) invest - Where??
Discussion
As title - we have £10k lump to invest and at the moment it's just sitting in some Lloyds account.
I don't want any chance of losing it so where do I put it?
I haven't used up this years ISA allowance and the best I can find is with Northern Rock at about 3%. (I know I can't put it all in there)
Is NR a fairly safe bet?
We're already overpaying the mortgage by, I think, the maximum we're allowed.
Buy gold?
Any other (sensible) ideas?
I don't want any chance of losing it so where do I put it?
I haven't used up this years ISA allowance and the best I can find is with Northern Rock at about 3%. (I know I can't put it all in there)
Is NR a fairly safe bet?
We're already overpaying the mortgage by, I think, the maximum we're allowed.
Buy gold?
Any other (sensible) ideas?
I guess with inflation running at 5%+, I'd get a better return in NS&I as a 3% ISA would be actually losing me 2%?
I'd also thought about solar panels - I have a 2 acre un-shaded field but I understand the government have recently cut the subsidy and returns that one could claim.
That, and whether I'd get/need planning permission (green belt) or would I need to live to be 100 to get any worthwhile gains.
I'd also thought about solar panels - I have a 2 acre un-shaded field but I understand the government have recently cut the subsidy and returns that one could claim.
That, and whether I'd get/need planning permission (green belt) or would I need to live to be 100 to get any worthwhile gains.
Zp said:
I guess with inflation running at 5%+, I'd get a better return in NS&I as a 3% ISA would be actually losing me 2%?
I'd also thought about solar panels - I have a 2 acre un-shaded field but I understand the government have recently cut the subsidy and returns that one could claim.
That, and whether I'd get/need planning permission (green belt) or would I need to live to be 100 to get any worthwhile gains.
NS&I end of debate. If your a higher rate tax payer at present you'd need to get a 9%+ yield just to equal the NS&I 5.5% tax free ( with inflation running at 5% ), and whilst nothing is ever 100% safe, NS&I are about as close as you are going to get to being certain that you'll get your capital back. I'd also thought about solar panels - I have a 2 acre un-shaded field but I understand the government have recently cut the subsidy and returns that one could claim.
That, and whether I'd get/need planning permission (green belt) or would I need to live to be 100 to get any worthwhile gains.
http://www.telegraph.co.uk/finance/personalfinance...
As others above(and as I've been on about for years) NS&I for what you're after. Interesting that the article last Saturday (link) compares NS&I indexed with alternatives.
As others above(and as I've been on about for years) NS&I for what you're after. Interesting that the article last Saturday (link) compares NS&I indexed with alternatives.
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