View Full Version : Where Should I Invest?? Isa? Bonds?
at the moment i put away £25 a week into a std savings account, but thats it.! what i put in is what i get back.
im wanting to put my money into something where i can see it grow say in 5 to 10 years. this is money i have no intention of touching for the 5 or 10 years etc.
ive never been a money investment type of person, due to my dad loosing 200k im sure you understand im absolutley petrified of anything exept for simple putting my money in my bank account.
but realisticaly, now its time for me to look to the future.
whats an isa? whats a bond? what does capital protected mean?:confused:
could anyone point me in the right direction?
Chris Hebden
17-02-2010, 10:28
I used to have an ISA and never got anything out of it as i probably didnt invest enough! I had £1000 saved and over a year would get £30ish back.
I have also had the same £1000 in bonds, and i won £50 twice in three years in the end i decided to fleece the £1000 on total crap and wish i never had!
Doing it again i would go bonds and try and get a little more money in, its fun checking everymonth if you have one or not (how sad am i :cry:)
A little bit everywhere is what I've done bonds, isa and up until recently a fitted rate long term bond which if you are not intending on touching the money I would normally do, but the rates are so low even for a long term investment that i'd just stick with ISA's at the moment as you will get locked into that low rate and not be able to touch the money if the interest rates go higher over the term of the bond.
With rates where they are, there's no where you can get a decent return, barring a gamble on the stock market. In the current climate however, coming out on top in the markets is a matter for the experts and the particularly fortunate. I should know, it's what I've been doing and failing at for the last 7 months. At least I'm learning a lot and have lost very little thus far. For that I count myself lucky having seen others lose hand over fist. If you can get it right though, the returns blow other forms of investment out of the water to the power of 10.
tonesGTT
17-02-2010, 17:50
Are you happy with the people you bank with? If so, go and chat to them. They will have someone there who can talk you through the various ways of investing/saving. The rates are ****e just now but as Trev says you dont have much choice unless you want to try the markets. I have an ISA with Nationwide and have done for several years. Granted it doesnt make me much in interest each year, but over the course of 5 it might be reasonable. You can pay quite a bit into them each year too now - i forget what it is off hand. I think £7,500?
I have a few ways i invest. The way i find safer is i put alot of money in shares.
In the last 2 months i think circa 3.5k into shares and already they have grown, although it can change minute to minute. any advice on the share front feel free to ask dude.
The other way is not a good way but can gain very quick profit and loss, i do this way then bank profit to shares.... its betting but certain people dont like or think it moral right, which i can fully understand.
I have a few ways i invest. The way i find safer is i put alot of money in shares.
In the last 2 months i think circa 3.5k into shares and already they have grown, although it can change minute to minute. any advice on the share front feel free to ask dude.
The other way is not a good way but can gain very quick profit and loss, i do this way then bank profit to shares.... its betting but certain people dont like or think it moral right, which i can fully understand.
i dont think ill ever go into shares im afraid:sad2: my dad lost 200k in one swoop, after that he was never the same man.. then came the cancer..then his life came to an end:( so you can imagine how im abit well, scared sh1tless of shares.
Mudslinger
17-02-2010, 19:33
I walked into my bank in 1999 looking to invest 10k ,i told him i was wanting a 5-10 year investment so i could use the cash to fund a mortgage when the time arose , he recommended Isa's Max was £7000 so did 7 k in my name and 3k in my partners , worst thing i ever done , i wasnt properly informed that i could lose money :eek: i thought it was guarenteed profit , in the end after 10 years i walked away with £9600 :crap: i held off as long as i could before cashing in , and im glad i bit the bullet when i did as that was the highest the share price has been since.
Best of it is i saved that 10k for 10 year and all i did when i cashed it was clear my credit card :sad2: was it even worth trying to save it in the first place:scratch:
at the moment i have a higher interest savings account where it allows me to make 3 withdrawels a year ,i find this suits me better ,no messing if you were to need the cash, instant access and a reasonable rate of interest you can see being added each month . Shop about with banks , this was a promotional thing and i opened the account with £1
tonesGTT
17-02-2010, 20:22
That sounds like a strange ISA? Was it linked to something like risk investment? ISA's are a savings account, i cant believe you lost money having one:scratch: Im am missing something?
First thing to decide is how much risk you want to take? Not much it seems. Is it that you just want to regularly out away some cash that is at least keep up with inflation and at some point have a stash if you need it?
First thing to decide is how much risk you want to take? Not much it seems. Is it that you just want to regularly out away some cash that is at least keep up with inflation and at some point have a stash if you need it?
im basically after something i can put my money into and let it grow and come back to it in say 10years to find an extra few grand in there to top it off.!
im sure there must be something better than my bog std savings account with which i only see pennys of interest every so often:confused:
Well you have to remember that interest rates are horribly low, an isa will give you about 4% 400 a year on 10k you can save up to 7200 a year'hors up to just over 10k a year from April. But only half of this can be cash the other half has to be invested in shares. I can't really think of any other way of saving cash with no risk, premium bonds keep your investment intact with the chance to win big but with no guaranteed return.
BigWilly425
17-02-2010, 21:39
fixed rate bond is probably your best bet at the moment if you don't need to touch your money for a while...
At the moment I dont think any savings are performing. Due to house prices being low at the moment I decided to buy another property. The return I get in Rent and the appreciation long term far outweights ISA's etc.
I would suggest doing this if you can... Get a buy to let mortgage and as long as you can get a good rate and dont have to borrow too much then the rent will cover your costs and repay your mortgage. in 25 years you will be quids in! The only worry is capital gains tax (Run it as non-profit to avoid a tax bill each year) but even with paying this the return is far greater than anything else out there.
tonesGTT
18-02-2010, 10:56
im basically after something i can put my money into and let it grow and come back to it in say 10years to find an extra few grand in there to top it off.!
im sure there must be something better than my bog std savings account with which i only see pennys of interest every so often:confused:
Let me know if you find it Raj! Sadly matey, your ideal doesnt really exist. Hoolio's post is bob on frankly :agree:
If your not a gambling man, your not going to make big gains. Do you have a lump sum or are we talking as per your first post, putting away say £100 a month?
I would probably go with bonds. You could buy something with it, ie a painting, gold or and old antique, what about a classic car? Just a few ideas.
phil
Mudslinger
18-02-2010, 15:46
That sounds like a strange ISA? Was it linked to something like risk investment? ISA's are a savings account, i cant believe you lost money having one:scratch: Im am missing something?
It turned out they were stocks and shares isa's , 1 was medium to high risk and the other was medium risk , they were intially BOS shares but they sold them to a company called clerical medical .
tonesGTT
18-02-2010, 16:50
It turned out they were stocks and shares isa's , 1 was medium to high risk and the other was medium risk , they were intially BOS shares but they sold them to a company called clerical medical .
Makes sense now Mud. Still, if you werent clearly advised of the risks . . .:crap:
Do you have a lump sum or are we talking as per your first post, putting away say £100 a month?
im putting £100 a month away at the moment.
i think ill still with my bog std savings account, nice and simple really.
im putting £100 a month away at the moment.
i think ill still with my bog std savings account, nice and simple really.
Raj don't do that, just as simple is a mini cash isa. Your money is totally safe, you will get a better interest rate and it will be tax free. You can do this through your building society easy, it really is no hassle no worry.
Raj don't do that, just as simple is a mini cash isa. Your money is totally safe, you will get a better interest rate and it will be tax free. You can do this through your building society easy, it really is no hassle no worry.
mini cash isa, is that what i should ask about then?
theres something im not understanding about isa:scratch: are you only allowed to put a certain amount into them?
mini cash isa, is that what i should ask about then?
theres something im not understanding about isa:scratch: are you only allowed to put a certain amount into them?
3k a year i think
Yes you are only allowed to save 3600 in cash tax free a year. You can also put the same amount into a shares isa tax free. From April those amounts are increased to 5200 so if you have the cash now put in 3600 for this years allowance and in April it starts again but you can start saving up to 5200 in cash tax free for that year.
become a loan shark.
:D
On it:scared:
Returns on any standard investment at mo are not really worth the effort
Even though they've cut the number of prizes offered , premium bonds are maybe worth considering Raj?
At worst you get back what you put in and may pick up a few prizes on the way
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