Where is safe to invest money??

nisfo · 16th November 2008, 21:32

As title.

Any money boffins on here that could advise or direct me on the best place to invest money, in such an unpredicatble financial world....Shopped around but it's an area that is out of my comfort zone

Looking at tucking 70k away for a few years. So high interest rate would be great.

Oh yeah I maybe looking for a 260 now aswell.....lol

Thanks in advance

Tatts · 16th November 2008, 21:36

Premium Bonds. Max holding £30k.

No interest, but 2 chances of a million per month & many other prizes.

Cash em in when you want, get all your original money back. Safe as houses...

lady zed · 16th November 2008, 21:41

No such thing as a high interest rate at the moment I'm afraid. Best thing is an ISA but £3600 is the maximum investment. Do you have any debt? As debt has a higher interest rate than savings it's more economical to pay off any debt as you'll save more money than you would make in interest. Why not reduce your mortgage if you have one. That would be an incredibly sound investment.

Otherwise, premium bonds aren't the best, but National Savings have plenty of other 'safe' products that will earn interest.

nisfo · 16th November 2008, 21:49

Cheers guys....

No debts, mortgage is sorted.....But there is a nice DB9 for sale at a local garage.

I'm booked in to see an advisor, he helped turn SWMBO's 7k into 22k in 8 years.

My family run art business has become self supporting so it's money to burn or put away for a rainy day

tourerfogey · 16th November 2008, 21:50

Far too many things to be taken into consideration before a question like that can be answered:

For example:

Do you already have other savings? if so what?
What debt do you have?
How long can the money be tied up?
What level of risk, if any are you, prepared to take?
How old are you?
What is your tax position?
Do you have a partner not using her tax allowance?

etc etc

(not expecting you to answer these questions by the way just making a point.)

tourerfogey · 16th November 2008, 21:54

Posted the above before your last answer - best idea is to do exactly what you're doing - seek proper advice. Would agree with Tatts though, Premium Bonds worth a punt - max £30K per person (£60K for you & your wife). As safe as it comes and a reasonably good chance of a fair return and always the chance of winning one of the the biggies - it's like playing the lottery but you get your stake back any time you want.

nisfo · 16th November 2008, 21:56

Well TBH I'm not short of a bob or 2. And I'm not far off 30

No limit on term, partner has usual tax allowance as a mother. And I have a full time job paying stupid amounts of tax each month.....lol

tourerfogey · 16th November 2008, 22:03

Well, in that case you def need seek professional advice

lady zed · 16th November 2008, 22:16

If I had any money for investing I would be buying shares in banks just now. Any bank, take your pick. The only way is up. If you're prepared to sit on them for a couple of years you could make a killing.

pondweed · 17th November 2008, 07:00

you can still get about 6% putting cash into a 12 month bond with interest paid on end of term. This might be a worry if the bank goes 'down', as you wont be able to claim until the term date comes up. So still an issue even if you invest under the govt. "guarantee" level.

16th November 2008, 21:32	#1
nisfo Gets stuck in 75 Join Date: Jun 2007 Location: - Posts: 868 Thanks: 0 Thanked 2 Times in 2 Posts	Where is safe to invest money?? As title. Any money boffins on here that could advise or direct me on the best place to invest money, in such an unpredicatble financial world....Shopped around but it's an area that is out of my comfort zone Looking at tucking 70k away for a few years. So high interest rate would be great. Oh yeah I maybe looking for a 260 now aswell.....lol Thanks in advance

16th November 2008, 21:36	#2
Tatts This is my second home MG6 TL Join Date: Nov 2006 Location: Tarn Posts: 5,269 Thanks: 2 Thanked 46 Times in 37 Posts	Premium Bonds. Max holding £30k. No interest, but 2 chances of a million per month & many other prizes. Cash em in when you want, get all your original money back. Safe as houses... __________________ http://www.wcgsig.com/115562.gif

16th November 2008, 21:41	#3
lady zed This is my second home Rover 75 Saloon Join Date: Nov 2006 Location: On the edge Posts: 6,659 Thanks: 1,354 Thanked 1,210 Times in 716 Posts	No such thing as a high interest rate at the moment I'm afraid. Best thing is an ISA but £3600 is the maximum investment. Do you have any debt? As debt has a higher interest rate than savings it's more economical to pay off any debt as you'll save more money than you would make in interest. Why not reduce your mortgage if you have one. That would be an incredibly sound investment. Otherwise, premium bonds aren't the best, but National Savings have plenty of other 'safe' products that will earn interest. __________________ it's all about the first person you want to tell good news to

16th November 2008, 22:16	#9
lady zed This is my second home Rover 75 Saloon Join Date: Nov 2006 Location: On the edge Posts: 6,659 Thanks: 1,354 Thanked 1,210 Times in 716 Posts	If I had any money for investing I would be buying shares in banks just now. Any bank, take your pick. The only way is up. If you're prepared to sit on them for a couple of years you could make a killing. __________________ it's all about the first person you want to tell good news to

16th November 2008, 21:49	#4
nisfo Gets stuck in 75 Join Date: Jun 2007 Location: - Posts: 868 Thanks: 0 Thanked 2 Times in 2 Posts	Cheers guys.... No debts, mortgage is sorted.....But there is a nice DB9 for sale at a local garage. I'm booked in to see an advisor, he helped turn SWMBO's 7k into 22k in 8 years. My family run art business has become self supporting so it's money to burn or put away for a rainy day

16th November 2008, 21:50	#5
tourerfogey Banned Join Date: Nov 2006 Posts: 2 Thanks: 0 Thanked 1 Time in 1 Post	Far too many things to be taken into consideration before a question like that can be answered: For example: Do you already have other savings? if so what? What debt do you have? How long can the money be tied up? What level of risk, if any are you, prepared to take? How old are you? What is your tax position? Do you have a partner not using her tax allowance? etc etc (not expecting you to answer these questions by the way just making a point.)

16th November 2008, 21:54	#6
tourerfogey Banned Join Date: Nov 2006 Posts: 2 Thanks: 0 Thanked 1 Time in 1 Post	Posted the above before your last answer - best idea is to do exactly what you're doing - seek proper advice. Would agree with Tatts though, Premium Bonds worth a punt - max £30K per person (£60K for you & your wife). As safe as it comes and a reasonably good chance of a fair return and always the chance of winning one of the the biggies - it's like playing the lottery but you get your stake back any time you want.

16th November 2008, 21:56	#7
nisfo Gets stuck in 75 Join Date: Jun 2007 Location: - Posts: 868 Thanks: 0 Thanked 2 Times in 2 Posts	Well TBH I'm not short of a bob or 2. And I'm not far off 30 No limit on term, partner has usual tax allowance as a mother. And I have a full time job paying stupid amounts of tax each month.....lol

16th November 2008, 22:03	#8
tourerfogey Banned Join Date: Nov 2006 Posts: 2 Thanks: 0 Thanked 1 Time in 1 Post	Well, in that case you def need seek professional advice

17th November 2008, 07:00	#10
pondweed This is my second home Waiter, Waiter! I seem to have a Roomster in my drive... Join Date: Nov 2006 Location: Sussex Posts: 3,268 Thanks: 0 Thanked 1 Time in 1 Post	you can still get about 6% putting cash into a 12 month bond with interest paid on end of term. This might be a worry if the bank goes 'down', as you wont be able to claim until the term date comes up. So still an issue even if you invest under the govt. "guarantee" level.