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Nothing too high risk and I don't want to tie it up for more than a few years.
(A mate spreads some of his money across a number of peer to peers loans, the high returns on some more than cancel out the inevitable poor or non-returns on others. Riskier than some options I suppose).
It's not my total savings pot but the only part of it I can play with at present.
Your contribution are appreciated.
I would look into buying shares in Xiaomi when they are released this summer. They are the fastest growing mobile phone manufacturer in Europe and already have a dominant share in India and China.
You need to start off by being clear about the risks you are prepared to take and the time you can tie up any investment for.
For example less than 5 years realistically rules out any sort of balanced equity portfolio or fund and probably leaves you looking at bonds/bond funds or fixed term deposits.
I ploughed a decent chunk into a stocks and shares ISA with Nutmeg that is currently earning about a 3% profit each month with a middle of the road risk factor. My plan is to leave it for a decade but you could make a tidy profit after just a couple of years.Quote:
Originally Posted by Taunton Blue Genie
I have until recently had a similar sum invested. Split 8k p2p, 5k funds and 5k shares and 2k in interest account (only1.5%)
Yes use up your ISA allowance , which coincidentally is £20,000.
£10,000 lotto tickets?
Put it all on Sir lancelot next time he runs at Wolverhampton over a mile
Mortgage/credit card/loans/debts all paid off? If so, i'd go for a 4 way split: ISA cash, ISA shares (look for companies that will benefit from Brexit...maybe FTSE 250 listed), Premium Bonds (safe and always interesting at the start of the month when prizes are announced) plus P2P to spread risk.Quote:
Originally Posted by Taunton Blue Genie
Yup. No debts. I'm no expert re: buying shares though.Quote:
Originally Posted by IanD
Invest in preserving wealth and a financial insurance policy in one blow by purchasing physical gold bullion. Britannia and sovereign coins are CGT free.
That's a bit niche for me as I wouldn't know where to start - and isn't there a cost attached in storing it? Forgive my ignorance.Quote:
Originally Posted by Organ Morgan.
All on Harry Kane as top scorer in the World Cup. What could go wrong!
Why not buy some tools and make something instead of profiting off of others? It would be very rewarding if you could turn a hobby or interest into a small business venture.
Failing that, just stash it in a secret off-shore bank account or in some other illicit venture. If you can't beat 'em, join 'em :thumbup:
A small business is all about profiting off others, of course :-) And I am still gainfully employed, by the way.Quote:
Originally Posted by Wales-Bales
Providing a product or service for profit is a moral activity, whereas lending money with interest is usury :biggrin:Quote:
Originally Posted by Taunton Blue Genie
Usury is a Japanese way of saying usually, isn't it?Quote:
Originally Posted by Wales-Bales
Maybe best to go for a FTSE 250 tracker that spreads risk across companies and wrap it in an ISA to avoid tax.Quote:
Originally Posted by Taunton Blue Genie
A possible starting point:
http://www.hl.co.uk/shares
Thanks for all your replies hitherto. I have made several poor investments in the past as a result of so-called 'professional advice' and am happy to take my chances from an alternative source :-)
There are plenty of dodgy non regulated schemes out there, usually which lose you all or most of your money. So try and ensure invest in something which is protected.
If you are still working it might be better to find out if you can pay into a pension which is tax efficient with a view to building up a pot, not for an annuity but to aim for income drawdown and retire early. Needs planning to avoid paying tax on income drawdown. Too big a pot taken too quickly and you are liable for 20 or 40% tax.Quote:
Originally Posted by Taunton Blue Genie
I have that plan with another pot of money, sir :-) I went part-time a year ago without affecting my income and it's a great balance: I should be able to tolerate working for at least another year to 18 months (and possibly longer) whilst still increasing my savings. Trying to avoid taking OUT of that pot along the way - so annuity for future use may be preferable to drawdown but I am a complete amateur regarding such things.Quote:
Originally Posted by IanD
united bank UK for 5 years at 2.65% its not massive, but has fscs protection so its safe :thumbup:
I know its a little dull, but its safe
Annuities are a minefield and worth reading up on. Typically you hand over £100k and you get an income of 3k ish. But, all sorts of factors come into play such as whether you smoke, whether you want a fixed income, income with an annual increase, joint income, fixed income period and so on. Plus you get taxed on that income so take off 20/40% as any pension/other income will be taken into account for tax purposes. If you can build up savings via ISAs etc then income drawdown might be a suitable option, taking out the sum equivalent to whatever the prevailing tax threshold is, not working and enjoying life until a company and/or state pension kick in (and downsize to avoid inheritance tax). A quick bit of Maths shows you have to live quite a while to benefit fully from an annuity, too.Quote:
Originally Posted by Taunton Blue Genie
I’m looking at doing the same for a short term strategy
I was hoping to renovate houses but it seems that houses are startling to get peaky again