Hi, i was wondering what the best options would be ? would it be feasable to place it in a high interest account and take out the interest each year and place that in a isa for my pension ? Cheers for any thoughts
Hard question to answer without knowing more of your circumstances - income stream, dependens and financial obligations, home ownership, pension etc.
It also depends on if you will use the money soon or if you are thinking long term.
If you are puting some in a bank account, you should definitely open a cash ISA as they'll pay a better rate that other savings accounts.
Other general rules of savings accounts are that(1) internet accounts pay better interest than bank-based ones and (2)notice accounts pay better than instant access.
If you are prepared to take risk, then you could consider the stock market, such as unit trusts. Long term, this will probably give a better reutrn that savings acconuts though (as they say) past performance is no guarentee of future performance and the investment may fall in value. Again, it's cheapest to buy over the internet.
My money is split across cash ISA's, unit trusts and a "rainy day" internet account. My current focus is on the stock market as I'm happy to take a bit of risk.
Maybe it's worth seeing an independent financial adviser.
Use your yearly ISA allowance. Then you could either invest some or all of it in shares (I wouldn't but maybe 10% is an idea).
If it was me I'd probably put 25K in premium bonds 3K in cash ISA and 31K in a high interest savings account. It all depends on how much risk you want.
im 17 and live in a two year stay hostel. the other day i took bread n butter to college because i had no food or money for lunch.
advice.....you could die tommorrow, sum1 close cud die. dont be stupid with ur money but use it 2 make everyday count. wish i could.
Easy? You men have no idea what we're dealing with down there. Teeth placement, and jaw stress, and suction, and gag reflex, and all the while bobbing up and down, moaning and trying to breathe through our noses. Easy? Honey, they don't call it a JOB for nothin'!
advice.....you could die tommorrow, sum1 close cud die. dont be stupid with ur money but use it 2 make everyday count. wish i could.
