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Hypothetical question. If you had the above sum and wanted risk free, but access with notice, where would you place it and all in one place or not.
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Depends on what you want it for, what are you saving it for? The rest falls out from that.
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Sorry, I thought that the OP was clear.
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It is but doesn't say a great deal. I'm not being awkward for the sake of it. I know it's hyperthetical, but it's how i do my investments if it were me I'd decide what i wanted the money for and when. Then work back from that.
Last edited by: sooty123 on Sat 13 Feb 16 at 15:14
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For savings "risk free" implies more than one place since the compensation limit is £75000. I presume that by "with notice" you are implying that you would be looking for a better rate of interest than for instant access. Today's Telegraph lists 5 offerings from Charter Savings Bank for 30, 60, 95, 100 & 120 days, with rates from 1.40% to 1.80%. By contrast the best instant access accounts listed are two from the Post Office, which is virtually risk free, at 1.20%.
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1.2% crikey. I haven't taken any notice, but that's low, but of course to be expected.
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Buy two terrace houses in Oldham and rent them out for £400-500 each.
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I tried to 'old 'em just now and got a slap!
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I was typing out the Best Buys from today's Times but Lygonos's link has the same.
The interest quoted will be gross I expect, but don't forget that from April the first £1k interest is tax free. Could be worth splitting £100k with a spouse if one is available, for best tax situation also to keep within govt guarantees. Also from April (actually last April I think) you can transfer allowances between spouses if one is not working or is earning well under their tax allowance - I'm unsure of the detail and mechanics though.
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The FSCS limit's £75K, so unless you split it between more than one place, it won't be guaranteed. Unless you put it in NS&I, which has no upper limit.
I'd suggest premium bonds for that little frisson of excitement each month.
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I use this site - sorry, it's the DM
www.thisismoney.co.uk/money/saving/article-1583864/Best-savings-rates-Isas-Cash-Isa-accounts-fixed-rate-Isas.html
My wife and I managed to scrape together enough direct debits and incomes to satisfy the requirements for 3 x Santander 123 current accounts - which gives us £60k on instant access at 3% interest.
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Deleted. Information was above by other members - didn't see it at first.
Last edited by: zippy on Sun 14 Feb 16 at 02:03
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>>If you had the above sum and wanted risk free, but access with notice, where would you place it and all in one place or not.
Ultimately there is no such thing as risk free, although clearly there are massively varying levels of risk.
Ready access to your money and low risk are the main limiters to potential return on investment.
You need to split the money down;
How much do you need on instant access? On 30 days? on 6months? On 1 year? etc.
How much do you absolutely have to have the lowest risk possible on? How much are you willing to be a little bit adventurous with, right up to how much are you will to almost chuck on a horse [not literally].
Having split your money down in that way, or similar depending on your personal criteria, then appropriate decisions can be made. Or appropriate recommendations for that matter. Trying to treat it all the same is unwise and unlikely to bring you the returns you might otherwise enjoy.
If it is one lump which must all be treated the same way, then just stick it in a bank.
Last edited by: No FM2R on Sun 14 Feb 16 at 02:33
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>> If it is one lump which must all be treated the same way, then just
>> stick it in a bank.
Or, better, two banks. Spread the risk.
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To play it reasonable safe in a few banks.I have a account with Satander/Coop Bank.
Isas and some shares.Buy shares if you want it all depends what money you can do without.
Or spend it on stuff you want.
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Investing 100k - sooty123
