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"If you had £80,000 where would you put it to return steady interest? I’ve looked at lots of bank accounts/savers the best I can seem to find on a bigger sum is about 4%…" Real estate . | |||
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"If you had £80,000 where would you put it to return steady interest? I’ve looked at lots of bank accounts/savers the best I can seem to find on a bigger sum is about 4%…" 1 bed or studio to rent. | |||
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"If go get advice from an advisor but the likelihood will be real estate (by to let or student properties) or index funds. If you put the whole sum in an account your FSCS protection only covers 85k with with compound which you’d exceed after two years of interest compounding. Get formal, qualified advice and good luck "Thank you, I did seek professional advice but it was very complex they wanted to take a cut of the profits but couldn’t give an exact percentage I didn’t feel confident to go with them | |||
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"I'd import some classic cars tidy them up re sell them make a profit and zero tax on profit, wouldn't invest it in banks housing or anything traceable " That isn’t a bad shout at all… only if I knew what the hell I was doing but I like the idea of keeping it untraceable | |||
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"I can't stress enough the importance of taking advice from a registered professional over and above people you done know on the net. "Totally appreciate that I have spoken to one but didn’t feel confident at all so I’m looking for some inspiration | |||
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"I can't stress enough the importance of taking advice from a registered professional over and above people you done know on the net.
Totally appreciate that I have spoken to one but didn’t feel confident at all so I’m looking for some inspiration"What makes you lack confidence in the professional? | |||
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"I can't stress enough the importance of taking advice from a registered professional over and above people you done know on the net.
Totally appreciate that I have spoken to one but didn’t feel confident at all so I’m looking for some inspiration
What makes you lack confidence in the professional?"No set percentage per year and they want to take a 3% cut off the profits… | |||
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"You can get a BTL house for about 50-60k in some towns with a 9% ROI " Wow where is this? | |||
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"Precious metals for us, physical assets rule" Good idea but what happens if your house gets burgled and you have £80,000 worth of gold for instance… | |||
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"Changed my settings. " Got it! | |||
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"Go and speak to a different advisor. There are plenty of people who will willingly separate you from your money. " Absolutely, that’s the feeling I got from that so called professional… | |||
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"You can get a BTL house for about 50-60k in some towns with a 9% ROI Wow where is this?" Tier 2 towns up north, warrington, widnes etc | |||
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"You can get a BTL house for about 50-60k in some towns with a 9% ROI " Good luck finding one of those that doesn't need the same again spending on it! | |||
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"If you had £80,000 where would you put it to return steady interest? I’ve looked at lots of bank accounts/savers the best I can seem to find on a bigger sum is about 4%… Depends where the 80 nicker has come from….we usually bury it or buy an expensive watch with it…..that 80 nicker watch can then be sold to a jeweller in whatever country u have traveled to and invest in a villa with no questions asked 
Haha I like your thinking " ..easiest way to transfer large amounts of cash from one country to another  | |||
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"You can get a BTL house for about 50-60k in some towns with a 9% ROI Good luck finding one of those that doesn't need the same again spending on it!" There’s plenty around if you know where to look, i know of at least 5 places in the north east for under 70k in good nick that are up for sale as investments with long term tenants | |||
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"Stick £50k in premium bonds while you're thinking about it as there's no risk and you can get a steady flow of small tax free wins plus the possibility of larger wins. You can draw it out again if you find a better investment but my gains in the last 12 months have been just over 7% tax free." I was going to suggest premium bonds too. Depends how much of a risk taker people are I guess. | |||
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"You can get a BTL house for about 50-60k in some towns with a 9% ROI Wow where is this?" Been there done that and the Tennant's and area your buying houses in for this price are dumps and you end up with nothing but hassle and a wrecked house that ends up costing you more in the long run than interest in the bank. To be honest I put 50 grand of my money in premium bonds and I had a 500 and 2 00 and 50 20 pay out in the first year | |||
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"If you had £80,000 where would you put it to return steady interest? I’ve looked at lots of bank accounts/savers the best I can seem to find on a bigger sum is about 4%…" Are you looking at liquid cash interest, or an investment you cam sell? 80k is a decent deposit for a rental, which could net you a decent return (and you can sell later). I believe whisky is a good investment purchase, decent growth/returns. | |||
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"Go and speak to a different advisor. There are plenty of people who will willingly separate you from your money. Absolutely, that’s the feeling I got from that so called professional…" Find someone FCA registered and speak to them. They'll charge a fee, nobody works for nothing. I've had very good financial advice that way | |||
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"Stick £50k in premium bonds while you're thinking about it as there's no risk and you can get a steady flow of small tax free wins plus the possibility of larger wins. You can draw it out again if you find a better investment but my gains in the last 12 months have been just over 7% tax free." I was going to suggest this. You can only put £50k in but that leaves you £30k with which you can diversify and maybe treat yourself to gold/watches or invest in shares etc. Premium bonds are very safe, you won’t lose any money and, whilst winning isn’t guaranteed, £50k investment usually means you’ll get prizes like the poster I’m quoting. I went into property but have paused the business for the time being. Mortgage rates on buy-to-let are crazy which means the stress testing by lenders is unviable right now. Factor in tax (which you now have to pay on all rental income), repairs, letting agents fees, annual necessities such as gas safe certification etc, you’ll be left with very little income. And if you do it through a business, corporation tax is going up from 19 to 25%. The upside is you’ll be left with a property at the end of your venture which you can sell. Property usually appreciates long term, but it won’t for the next two years. Factor in also that, if your mortgage is interest only (most BTL properties are) you’ll still have the full capital to repay. | |||
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"I have an uncle in Uganda. He's a prince and makes great investments. I could give him your details. You won't regret it." You liar!! Your uncle is from Nigeria. I know, I have already invested in his business and he tells me I have won the Nigerian national lottery and will receive £100 million when I send him the "20k admin fee | |||
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"If you had £80,000 where would you put it to return steady interest? I’ve looked at lots of bank accounts/savers the best I can seem to find on a bigger sum is about 4%…" Safest option is your 4% you can do a bit of admin and get a little higher with 5-10k pots like Barclays today day pays 5.12 now.FSCS will protect £85K per bank so it’s 100% safe from Losses, other than the impact of inflation. 6,9,12 month fixes and those with notice periods or fixed numbers of withdrawals look to be the best ones right now. I’m still using p2p and getting average 6.5% on 50K but it’s not completely risk free, Returns are around 9% , fees, losses, recoveries bring it to 6.5% tax is removed by an IFISA wrapper | |||
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"I can't stress enough the importance of taking advice from a registered professional over and above people you done know on the net. "100% | |||
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"Get advice. I've skimmed through the thread and noone seems to have asked you about your wider financial circumstances. Or what your financial goals and concerns are. It's immediately how to invest. Eg putting it all in single property is not a great idea imo of you have no other emergency funds. Property is illiquid, fairly volatile and high transaction costs. If you have no retirement savings (but want to retire) and can afford to lock it away, a pension can give you a day one boost through tax reliefs. But dont put all 80k in if you may need it early. I get that ppl don't like paying for advice. But the costs of doing the wrong thing can be a lot higher. Rewind a few years and someone would have suggested some crypto. Today flavour of the month seems to be precious metals. Tomorrow will be something else. Free advice (including this!) is worth every penny you pay for it. " Honestly unless you have at least a few hundred k to invest it’s not worth paying for advice unless you really need it. IFA’s are like mortgage advisors in estate agents , they know less that many on here , they can tell you what your ISA allowance is if you don’t know it but aren’t even allowed to to tell how to reduce HR tax with pensions unless they are a registered tax accountant. They can’t tell you how to use an IFISA or how to declare losses on p2p loans , they can’t advise which vanguard life strategy product is best for you. If you has limited financial knowledge to need an IFA for 80K , then you are paying them to explain martins blog to you | |||
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"I checked out flats etc they are like £160,000/£200,000 here "You can still buy terraced houses up north for 50k and spend 20k fixing them, 10k contingency and return you around 600 PCM, less expenses that a 10% yield and an asset that will only appreciate in value. | |||
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"I checked out flats etc they are like £160,000/£200,000 here
You can still buy terraced houses up north for 50k and spend 20k fixing them, 10k contingency and return you around 600 PCM, less expenses that a 10% yield and an asset that will only appreciate in value."Nope- Gross revenue isn’t net profit. You now pay tax on the whole 600 so that’s more like 300pcm, 5% yield max, equivalent to high st savings accounts, with the added risk of losing it all and the stress of a massive project…. | |||
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"If you had £80,000 where would you put it to return steady interest? I’ve looked at lots of bank accounts/savers the best I can seem to find on a bigger sum is about 4%…" I've no real clue about finances so take this with a pinch of salt. If you're looking for steady returns, yorkshire building society has an ISA at 4% for members or 3.5% for non members. I'm not sure if you could open a £1 savings account then an isa the week after? As far as I can tell it's one of the highest around. Nationwide do saver bond accounts at 5% for 2yrs though you can't touch the money, and you may have to declare income tax A stocks and shares isa might be an option if you really don't need to touch it - holding only a few good named (growth/income) companies and leaving them to accumulate. Trying to predict markets is near impossible but good funds always help ease any single name company falls. So if you buy 3 large UK companies, diversify with funds in say s&p 500, mid-caps, global small-cap. (though buy in price reflects in your returns & shares usually drop after April isa uptake until late Oct). Much as you have to keep your account active, you really do have to leave them alone for 5yrs unless you see a massive spike, but it will be in an isa. Property values are supposed to come down though have crept back up, over time as people say, buy on a good street as there are never enough houses. Start a business you understand or a passionate about but weigh if there is a need in the area? | |||
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"If you had £80,000 where would you put it to return steady interest? I’ve looked at lots of bank accounts/savers the best I can seem to find on a bigger sum is about 4%…" If we're lucky. Some of us are lucky to get 2.5% Interest rates can be a double edged sword. We want them to be low when we're borrowing, but high when we're saving. I've had a bit of a double blow. When I had a mortgage, Interest rates were around 13.5% Now that I have savings, they're pitiful | |||
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"You can get a BTL house for about 50-60k in some towns with a 9% ROI Wow where is this?" Loads, Midlands up. Coastal Cumbria is a good shout with the decommissioning of Sellafield. That'll take decades. Lots of professionals are being drawn to area for work, engineers etc. Massive, massive project. Bound to drive housing prices. At the moment incredibly cheap. My friend got a beautiful 6 bed Victorian house for less than my 2 bed flat in Greater London | |||
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"If you had £80,000 where would you put it to return steady interest? I’ve looked at lots of bank accounts/savers the best I can seem to find on a bigger sum is about 4%…" £40k in shares of GSK and £40k in shares of Lockheed Martin | |||
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"If you had £80,000 where would you put it to return steady interest? I’ve looked at lots of bank accounts/savers the best I can seem to find on a bigger sum is about 4%…" Half in a stocks and shears ISA 20k ASAP 20k after April 5th The other half find a independent financial adviser and get the to tell you. Do you have a pension. I'm doing the same sort of thing PM if you want it gets completed are you PAYE or have you got your own limited company. | |||
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"Just for a reference on real estate it fluxes accordingly. We bought a house 4 years ago for 70k. The market went up drastically. Sold it for 190 k. Even if we didn't sell we still had income for the rental prior to the sale. " So did you pay 60k In capital gains tax. | |||
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"I can't stress enough the importance of taking advice from a registered professional over and above people you done know on the net.
Totally appreciate that I have spoken to one but didn’t feel confident at all so I’m looking for some inspiration
What makes you lack confidence in the professional?
No set percentage per year and they want to take a 3% cut off the profits…"That's normal and makes them work they get 3% of profits no profit no income so they work harder with you money to make them and you as much as possible. | |||
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"If you had £80,000 where would you put it to return steady interest? I’ve looked at lots of bank accounts/savers the best I can seem to find on a bigger sum is about 4%…" I have rentals put in the bank they can be hard work for little returns.
Law/Tax changes all the time pushing up costs so pushing up rent's the Gov has a definite plan to push out private landlord business and create Big business opportunities in this sector just like shops. | |||
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"Stick £50k in premium bonds while you're thinking about it as there's no risk and you can get a steady flow of small tax free wins plus the possibility of larger wins. You can draw it out again if you find a better investment but my gains in the last 12 months have been just over 7% tax free. I was going to suggest premium bonds too. Depends how much of a risk taker people are I guess. " My premium bonds are already maxed out… I win between £100/£200 a month but that’s still below the 4% I could get at the bank but the chance of winning bigger lures me in haha | |||
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"If you had £80,000 where would you put it to return steady interest? I’ve looked at lots of bank accounts/savers the best I can seem to find on a bigger sum is about 4%… £40k in shares of GSK and £40k in shares of Lockheed Martin " Why would you chose those in particular? | |||
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"If you had £80,000 where would you put it to return steady interest? I’ve looked at lots of bank accounts/savers the best I can seem to find on a bigger sum is about 4%… £40k in shares of GSK and £40k in shares of Lockheed Martin Why would you chose those in particular?" GSK already give great dividends, large pharmaceutical is always going to be up there. Lockheed Martin are the largest arms supplier in the world and very much think we are heading for another war so pretty much every country will start ramping up their military spending. | |||
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"I can't stress enough the importance of taking advice from a registered professional over and above people you done know on the net.
Totally appreciate that I have spoken to one but didn’t feel confident at all so I’m looking for some inspiration
What makes you lack confidence in the professional?
No set percentage per year and they want to take a 3% cut off the profits…
That's normal and makes them work they get 3% of profits no profit no income so they work harder with you money to make them and you as much as possible."sounds off imo. 3pc of profit feels very low. Hedge funds typically take 2pc of investment plus 20pc of profit for context. Noone can guarantee year on year profit... Even when inventised. | |||
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"I can't stress enough the importance of taking advice from a registered professional over and above people you done know on the net.
Totally appreciate that I have spoken to one but didn’t feel confident at all so I’m looking for some inspiration
What makes you lack confidence in the professional?
No set percentage per year and they want to take a 3% cut off the profits…
That's normal and makes them work they get 3% of profits no profit no income so they work harder with you money to make them and you as much as possible.sounds off imo. 3pc of profit feels very low. Hedge funds typically take 2pc of investment plus 20pc of profit for context. Noone can guarantee year on year profit... Even when inventised. "Have to ask - where do you get 20% from? Are you talking the like of MS, JPM, GS? SPY & VUSA are two of the largest funds following the s&p and have ongoing costs of 0.09% and 0.07%, B3X1NT0 (I think it is) has 0.3% (£3 for £1000 invested), VWRL is 0.22. Actively managed can go upward of 1.5% maybe 2% but there's a good number around 0.5 - 0.9% and even those are considered expensive. I agree there's no guarantees of returns, or that the larger the % the harder they work. | |||
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"I can't stress enough the importance of taking advice from a registered professional over and above people you done know on the net.
Totally appreciate that I have spoken to one but didn’t feel confident at all so I’m looking for some inspiration
What makes you lack confidence in the professional?
No set percentage per year and they want to take a 3% cut off the profits…
That's normal and makes them work they get 3% of profits no profit no income so they work harder with you money to make them and you as much as possible.sounds off imo. 3pc of profit feels very low. Hedge funds typically take 2pc of investment plus 20pc of profit for context. Noone can guarantee year on year profit... Even when inventised.
Have to ask - where do you get 20% from? Are you talking the like of MS, JPM, GS? SPY & VUSA are two of the largest funds following the s&p and have ongoing costs of 0.09% and 0.07%, B3X1NT0 (I think it is) has 0.3% (£3 for £1000 invested), VWRL is 0.22. Actively managed can go upward of 1.5% maybe 2% but there's a good number around 0.5 - 0.9% and even those are considered expensive.
I agree there's no guarantees of returns, or that the larger the % the harder they work. "that's not percentage of profit tho but pc of fund value. The OP said "No set percentage per year and they want to take a 3% cut off the profits…" Your example is spot on normal for a fund. It's a set percentage every year. What the OP had been told is not the same sonsets alarm bells off for me. | |||
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"If you had £80,000 where would you put it to return steady interest? I’ve looked at lots of bank accounts/savers the best I can seem to find on a bigger sum is about 4%…" Pay my house off | |||
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"I can't stress enough the importance of taking advice from a registered professional over and above people you done know on the net.
Totally appreciate that I have spoken to one but didn’t feel confident at all so I’m looking for some inspiration
What makes you lack confidence in the professional?
No set percentage per year and they want to take a 3% cut off the profits…
That's normal and makes them work they get 3% of profits no profit no income so they work harder with you money to make them and you as much as possible.sounds off imo. 3pc of profit feels very low. Hedge funds typically take 2pc of investment plus 20pc of profit for context. Noone can guarantee year on year profit... Even when inventised.
Have to ask - where do you get 20% from? Are you talking the like of MS, JPM, GS? SPY & VUSA are two of the largest funds following the s&p and have ongoing costs of 0.09% and 0.07%, B3X1NT0 (I think it is) has 0.3% (£3 for £1000 invested), VWRL is 0.22. Actively managed can go upward of 1.5% maybe 2% but there's a good number around 0.5 - 0.9% and even those are considered expensive.
I agree there's no guarantees of returns, or that the larger the % the harder they work. that's not percentage of profit tho but pc of fund value.
The OP said
"No set percentage per year and they want to take a 3% cut off the profits…"
Your example is spot on normal for a fund. It's a set percentage every year.
What the OP had been told is not the same sonsets alarm bells off for me. "Ahh, so if the whole amount was handed over to be managed..? | |||
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"I can't stress enough the importance of taking advice from a registered professional over and above people you done know on the net.
Totally appreciate that I have spoken to one but didn’t feel confident at all so I’m looking for some inspiration
What makes you lack confidence in the professional?
No set percentage per year and they want to take a 3% cut off the profits…
That's normal and makes them work they get 3% of profits no profit no income so they work harder with you money to make them and you as much as possible.sounds off imo. 3pc of profit feels very low. Hedge funds typically take 2pc of investment plus 20pc of profit for context. Noone can guarantee year on year profit... Even when inventised.
Have to ask - where do you get 20% from? Are you talking the like of MS, JPM, GS? SPY & VUSA are two of the largest funds following the s&p and have ongoing costs of 0.09% and 0.07%, B3X1NT0 (I think it is) has 0.3% (£3 for £1000 invested), VWRL is 0.22. Actively managed can go upward of 1.5% maybe 2% but there's a good number around 0.5 - 0.9% and even those are considered expensive.
I agree there's no guarantees of returns, or that the larger the % the harder they work. that's not percentage of profit tho but pc of fund value.
The OP said
"No set percentage per year and they want to take a 3% cut off the profits…"
Your example is spot on normal for a fund. It's a set percentage every year.
What the OP had been told is not the same sonsets alarm bells off for me.
Ahh, so if the whole amount was handed over to be managed..?"I don't follow. They would be handing over the while amount. But this person says they will only take a (very) small percentage of the carry/profits. Theyd make a few hundred bucks at most on very good years, and nothing in poor years. Really ? Smells dodgy AF. | |||
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"Precious metals for us, physical assets rule Good idea but what happens if your house gets burgled and you have £80,000 worth of gold for instance…" Safe deposit box | |||
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"Gold sovereigns.. Still legal tender so no taxes when the gold price goes up, and always easy to sell. " That is really interesting. I presume though they would cost more than the weight of scrap gold, so maybe scrap gold would be a better investment apart from, I guess, the tax implication mentioned above | |||
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"You can get a BTL house for about 50-60k in some towns with a 9% ROI Good luck finding one of those that doesn't need the same again spending on it! There’s plenty around if you know where to look, i know of at least 5 places in the north east for under 70k in good nick that are up for sale as investments with long term tenants" You know Warrington amd Widnes aren't in the North East right? | |||
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"If you had £80,000 where would you put it to return steady interest? I’ve looked at lots of bank accounts/savers the best I can seem to find on a bigger sum is about 4%…" Casks of whisky are a good investment Mrs | |||
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Option 2:
Buy a property by leveraging 10yr Egyptian Bonds at 21% yield with a 5yr Fixed mortgage rate of about 4% here.
I would advise that you do not take my advice. | |||
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"Option 1: Deposit it in a bank in Ukraine for 25% interest.
Option 2:
Buy a property by leveraging 10yr Egyptian Bonds at 21% yield with a 5yr Fixed mortgage rate of about 4% here.
I would advise that you do not take my advice. "Haha I’ll take your advice;) | |||
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"I checked out flats etc they are like £160,000/£200,000 here "Doesn’t have to be near you. Parts of the north east you can get a three bed terrace for £80k | |||
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"I checked out flats etc they are like £160,000/£200,000 here
Doesn’t have to be near you. Parts of the north east you can get a three bed terrace for £80k"If you buy property that's not close to you though, isn't it very hard to get any work done or quotes or anything. You would need a guest quite a full-on management agency to take care of absolutely everything unless you were going to pop up there frequently | |||
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"It's a difficult one and not something to be taken lightly. Trouble is £80,000 isn't going to get you much of a property around the south of England and I don't think anything at the moment will get you a quick return. Long term id say gold as that will always increase in value and would certainly give you a decent profit over time...." Where would you buy that kind of gold from? You want it really without having to pay fashioning charges for it to have been made into jewellery so do you buy a gold bar or something? | |||
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"If you had £80,000 where would you put it to return steady interest? I’ve looked at lots of bank accounts/savers the best I can seem to find on a bigger sum is about 4%…" I'm making a average % profit per day of 35% at the moment doing trading of football matches on Betfair. I have made anything up to 500% in one day. Sports trading life on the YT has loads of examples of how to do it, but a bit of knowledge on the sport and the league or cup etc helps make some decisions. As does in play love stats. | |||
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"If you had £80,000 where would you put it to return steady interest? I’ve looked at lots of bank accounts/savers the best I can seem to find on a bigger sum is about 4%… I'm making a average % profit per day of 35% at the moment doing trading of football matches on Betfair. I love football but it is just betting isn’t it… I have made anything up to 500% in one day. Sports trading life on the YT has loads of examples of how to do it, but a bit of knowledge on the sport and the league or cup etc helps make some decisions. As does in play love stats. " | |||
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"It's a difficult one and not something to be taken lightly. Trouble is £80,000 isn't going to get you much of a property around the south of England and I don't think anything at the moment will get you a quick return. Long term id say gold as that will always increase in value and would certainly give you a decent profit over time.... Where would you buy that kind of gold from? You want it really without having to pay fashioning charges for it to have been made into jewellery so do you buy a gold bar or something?" Coins gold coins small and tradable easily. | |||
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"I'd import some classic cars tidy them up re sell them make a profit and zero tax on profit, wouldn't invest it in banks housing or anything traceable That isn’t a bad shout at all… only if I knew what the hell I was doing but I like the idea of keeping it untraceable " Isn't money always traceable in a bank account? | |||
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"Certainly was a challenge to rub one out to this thread ….. " The fact you did it is amazing | |||
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"If you had £80,000 where would you put it to return steady interest? I’ve looked at lots of bank accounts/savers the best I can seem to find on a bigger sum is about 4%…" I’d get some wealth management advice from a professional. They do all the hard work for you. | |||
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"If you had £80,000 where would you put it to return steady interest? I’ve looked at lots of bank accounts/savers the best I can seem to find on a bigger sum is about 4%… I'm making a average % profit per day of 35% at the moment doing trading of football matches on Betfair. I love football but it is just betting isn’t it… I have made anything up to 500% in one day. Sports trading life on the YT has loads of examples of how to do it, but a bit of knowledge on the sport and the league or cup etc helps make some decisions. As does in play love stats. " It's kinda betting but its an odds game an if you know or can predict how a game will play out there are plenty markets where there is value. For instance, man city being fav to beat say Brentford, but laying the over 2.5 goals. The odds on O2.5 drift out quite a bit in the first 15 mins. | |||
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"Now is not the time to invest in watches or gold. I’d look closer to home. Ie your own mortgage if you have one. " I was thinking this too. Always good to pay a mortgage off soon as possible. | |||
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"If you had £80,000 where would you put it to return steady interest? I’ve looked at lots of bank accounts/savers the best I can seem to find on a bigger sum is about 4%… I'm making a average % profit per day of 35% at the moment doing trading of football matches on Betfair. I love football but it is just betting isn’t it… I have made anything up to 500% in one day. Sports trading life on the YT has loads of examples of how to do it, but a bit of knowledge on the sport and the league or cup etc helps make some decisions. As does in play love stats. It's kinda betting but its an odds game an if you know or can predict how a game will play out there are plenty markets where there is value. For instance, man city being fav to beat say Brentford, but laying the over 2.5 goals. The odds on O2.5 drift out quite a bit in the first 15 mins. " Very true but the odds aren’t great at all.. pop me a message with some ideas I’ve done a fair bit of betting in my time so be good to see how you do it mate | |||
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"Now is not the time to invest in watches or gold. I’d look closer to home. Ie your own mortgage if you have one. " I’ve already cleared the mortgage and maxed my premium bonds just have no idea what I should do with the rest to make as much as possible so I can drop days at work with a bit of luck | |||
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"It all depends on how much risk you want to take. Loads of options out there and some financial advice would be advisable. As an example though, 20k invested each year for 4 years and then left for another 16 years would yield the below from a stocks and shares ISA assuming consistent returns. At 5% ~£200k At 10% ~£450k At 15% ~£1.1 million Mine are spread across different risk levels, the most risky has averaged 12% over the last 5 years, 17% over 10 years. The lower risk 4.5% over 5 years, 8.1% over 10 years." That’s awesome, where can I get those returns? | |||
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"Fairplay to you OP. Have you managed to save enough money to buy a car yet ? " Yes it’s due to very unfortunate circumstances that I’ve inherited this money. | |||
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"Now is not the time to invest in watches or gold. I’d look closer to home. Ie your own mortgage if you have one. I’ve already cleared the mortgage and maxed my premium bonds just have no idea what I should do with the rest to make as much as possible so I can drop days at work with a bit of luck" If you haven't an ISA I would personally invest the maximum this financial year and then after the 6th of April you can put in the maximum for next year, £20,000 each year then it's just the other half you need to work out what to do with. | |||
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"I checked out flats etc they are like £160,000/£200,000 here "You don’t have to buy one in your area, buy where you can afford l, rent it ten years you will have doubled you money, get a letting agent to do all the work for you, might be an idea to sit tight wait for prices to drop even more, property is still king when it comes to investing | |||
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"I’ll do you a favour OP. Transfer it over to be and I’ll take care of it for you. This definitely isn’t a scam. " Haha I’m sure we could make something work be business partners if you have the ideas? | |||
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"I checked out flats etc they are like £160,000/£200,000 here
You don’t have to buy one in your area, buy where you can afford l, rent it ten years you will have doubled you money, get a letting agent to do all the work for you, might be an idea to sit tight wait for prices to drop even more, property is still king when it comes to investing "Ok I understand I definitely need to look into this but can’t seem to find much for my money to be honest… | |||
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"Now is not the time to invest in watches or gold. I’d look closer to home. Ie your own mortgage if you have one. I’ve already cleared the mortgage and maxed my premium bonds just have no idea what I should do with the rest to make as much as possible so I can drop days at work with a bit of luck If you haven't an ISA I would personally invest the maximum this financial year and then after the 6th of April you can put in the maximum for next year, £20,000 each year then it's just the other half you need to work out what to do with." That sounds decent and pretty much the plan I already have an issue for this year though so will wait a couple of weeks to put some more in unless I find something better | |||
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"Chancellor this week has increased the annual pension contribution allowance to 60k, plus another 20k on 6th April For a basic rate taxpayer, before any interest or growth your 80k is worth 96k " Oh really? When will I get my 16k? | |||
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"Chancellor this week has increased the annual pension contribution allowance to 60k, plus another 20k on 6th April For a basic rate taxpayer, before any interest or growth your 80k is worth 96k Oh really? When will I get my 16k?" most pension schemes get it added automatically. You can't access it until 55 (maybe 56) tho. The tax is an incentive to lock it away. | |||
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"Premium bonds Stainless steel rolex sub mariner , brand new uf you can get one, and second hand, buy from a reputable jeweller, have a look at Parkers in Sheffield I bought a second hand sub in 2009 for 3250, sold it for 5000 in 2014,now going for 9k" My experience also, wish I bought two or three at the time ! | |||
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"Premium bonds Stainless steel rolex sub mariner , brand new uf you can get one, and second hand, buy from a reputable jeweller, have a look at Parkers in Sheffield I bought a second hand sub in 2009 for 3250, sold it for 5000 in 2014,now going for 9k My experience also, wish I bought two or three at the time !" Where can I buy all of them? :D | |||
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"I checked out flats etc they are like £160,000/£200,000 here
You don’t have to buy one in your area, buy where you can afford l, rent it ten years you will have doubled you money, get a letting agent to do all the work for you, might be an idea to sit tight wait for prices to drop even more, property is still king when it comes to investing "Any areas you can recommend? | |||
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"If you gave me £80000 I would make sure Sam showed you a lot of interest! " That’s about the best offer when can I move in…? | |||
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"Premium bonds" I’ve got those but I win like £100/£200 a month I’ve never been that lucky.. yet anyway aha | |||
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"Put it in an offshore account " And how would that benefit me…? | |||
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"If you had £80,000 where would you put it to return steady interest? I’ve looked at lots of bank accounts/savers the best I can seem to find on a bigger sum is about 4%…" buy a house in north west spain or south italy, bring in 150 a night airb&b, after a few years your 80k is back in the bank, do it again, do it a 3rd time retire. | |||
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"Tangible assets are the best bet, especially with rising inflation " Yes, gold may be another one? Safe | |||
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"I checked out flats etc they are like £160,000/£200,000 here "I know right, it’s mental at the moment. | |||
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"Whisky " Have you done it yourself? | |||
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"Pension account for when you retire " I get that but I kind of begrudge paying for that now when I can enjoy more things now.. when I’m 60+ will I really be able to do all the things I can now on a holiday for instance | |||
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"Propert to let !" I look into this but the property’s I can afford are 6+ hours away and I’d have to pay insurances fees and taxes on top | |||
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"Pension account for when you retire I get that but I kind of begrudge paying for that now when I can enjoy more things now.. when I’m 60+ will I really be able to do all the things I can now on a holiday for instance " but you'll need an income when you are 60+ | |||
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"Pension account for when you retire I get that but I kind of begrudge paying for that now when I can enjoy more things now.. when I’m 60+ will I really be able to do all the things I can now on a holiday for instance but you'll need an income when you are 60+" Sure, I pay a pension but I wouldn’t want to pay extra. Years after 60 are limited. | |||
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"I can't stress enough the importance of taking advice from a registered professional over and above people you done know on the net.
Totally appreciate that I have spoken to one but didn’t feel confident at all so I’m looking for some inspiration
What makes you lack confidence in the professional?
No set percentage per year and they want to take a 3% cut off the profits…"Well they don't do it for free, financial advisors need to earn a living. If you put it in places that you don't know what you're doing you may well loose money | |||
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"I can't stress enough the importance of taking advice from a registered professional over and above people you done know on the net.
Totally appreciate that I have spoken to one but didn’t feel confident at all so I’m looking for some inspiration
What makes you lack confidence in the professional?
No set percentage per year and they want to take a 3% cut off the profits…
Well they don't do it for free, financial advisors need to earn a living.
If you put it in places that you don't know what you're doing you may well loose money"Absolutely but it’s a very fishy guide, 3% off my profit? Say I made £5000 in the year they will only take like £150? They wo t pay them much of a living per year unless they work with 100’s of millions which I don’t imagine they do | |||
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"I can't stress enough the importance of taking advice from a registered professional over and above people you done know on the net.
Totally appreciate that I have spoken to one but didn’t feel confident at all so I’m looking for some inspiration
What makes you lack confidence in the professional?
No set percentage per year and they want to take a 3% cut off the profits…
Well they don't do it for free, financial advisors need to earn a living.
If you put it in places that you don't know what you're doing you may well loose money
Absolutely but it’s a very fishy guide, 3% off my profit? Say I made £5000 in the year they will only take like £150? They wont pay them much of a living per year unless they work with 100’s of millions which I don’t imagine they do"They earn a wage and commission, your 80 bags is quite a small amount | |||
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"I can't stress enough the importance of taking advice from a registered professional over and above people you done know on the net.
Totally appreciate that I have spoken to one but didn’t feel confident at all so I’m looking for some inspiration
What makes you lack confidence in the professional?
No set percentage per year and they want to take a 3% cut off the profits…
Well they don't do it for free, financial advisors need to earn a living.
If you put it in places that you don't know what you're doing you may well loose money
Absolutely but it’s a very fishy guide, 3% off my profit? Say I made £5000 in the year they will only take like £150? They wont pay them much of a living per year unless they work with 100’s of millions which I don’t imagine they do
They earn a wage and commission, your 80 bags is quite a small amount "Sorry big boy | |||
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"Pension account for when you retire I get that but I kind of begrudge paying for that now when I can enjoy more things now.. when I’m 60+ will I really be able to do all the things I can now on a holiday for instance " Don't begrudge it, best to start as early as you can. Small regular pension contributions now will mean you will be able to retire and still have holidays. I started late which means I'll be working longer. You'll thank me when you get there although I'll be dead by then. | |||
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"If you had £80,000 where would you put it to return steady interest? I’ve looked at lots of bank accounts/savers the best I can seem to find on a bigger sum is about 4%…" What I’d do with it is…not take financial advise from Fab! (No offence, fellow forumites) I recommend making an appointment with an independent financial adviser and have a detailed chat about your entire financial circumstances. Only by taking into account your personal situation with regard to other outgoings/incomes/debts/assets/remaining years before retirement etc will you be able to decide exactly what is right for you. While you may have to pay the IFA for their expertise, it’s well worth it. A couple of years ago I did this; his services cost me a total of £500 but it netted me a £200/month reduction on my mortgage alone, so it’s been worth every penny. | |||
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"If you had £80,000 where would you put it to return steady interest? I’ve looked at lots of bank accounts/savers the best I can seem to find on a bigger sum is about 4%… What I’d do with it is…not take financial advise from Fab! (No offence, fellow forumites) I recommend making an appointment with an independent financial adviser and have a detailed chat about your entire financial circumstances. Only by taking into account your personal situation with regard to other outgoings/incomes/debts/assets/remaining years before retirement etc will you be able to decide exactly what is right for you. While you may have to pay the IFA for their expertise, it’s well worth it. A couple of years ago I did this; his services cost me a total of £500 but it netted me a £200/month reduction on my mortgage alone, so it’s been worth every penny." This has always confuses me as the advice you receive from one 'specialist' would be completely different to another 'specialist' you may actually need. Independent Financial Advisor, Non Independent Financial Advisors, Financial Advisor, Financial Planner, Wealth Manager/Asset Managers, Pension Planners. Qualifications range from Diploma up to Chartered within finance, so unless you understand or they disclose, they could be advising having few to little qualifications, just qualified or with vast knowledge. Advisors exist in realms that are taken as red when other more certified or appropriate services could be sought, though finding which is suitable or which you feel comfortable with means paying each time you see them. | |||
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"If you had £80,000 where would you put it to return steady interest? I’ve looked at lots of bank accounts/savers the best I can seem to find on a bigger sum is about 4%… What I’d do with it is…not take financial advise from Fab! (No offence, fellow forumites) I recommend making an appointment with an independent financial adviser and have a detailed chat about your entire financial circumstances. Only by taking into account your personal situation with regard to other outgoings/incomes/debts/assets/remaining years before retirement etc will you be able to decide exactly what is right for you. While you may have to pay the IFA for their expertise, it’s well worth it. A couple of years ago I did this; his services cost me a total of £500 but it netted me a £200/month reduction on my mortgage alone, so it’s been worth every penny. This has always confuses me as the advice you receive from one 'specialist' would be completely different to another 'specialist' you may actually need. Independent Financial Advisor, Non Independent Financial Advisors, Financial Advisor, Financial Planner, Wealth Manager/Asset Managers, Pension Planners. Qualifications range from Diploma up to Chartered within finance, so unless you understand or they disclose, they could be advising having few to little qualifications, just qualified or with vast knowledge. Advisors exist in realms that are taken as red when other more certified or appropriate services could be sought, though finding which is suitable or which you feel comfortable with means paying each time you see them. " Exactly. The only advice I pay for is tax advice.if you need advice from an IFA, you probably should outsource all your financials to a friend or family member you trust. What is steady interest? What’s the purpose of the £80K investment and for how long ? If you can’t answer these , if you dint know what you’re doing or why , just give it away. £80K is within protected limits, right now I’d take the 4.9% instant access while looking for a coupon / bond in retail or tech for 2-3 years to give 10% but I’d do it outside the UK, probably USD or Euro. Or I might put half into micro loans | |||
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