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The best place for cash

(14 Posts)
Putthatbookdown Tue 18-Feb-14 15:36:57

Where would you put �70,000 cash for the next 7 to 10 years?

LoveIsTheDrug Tue 18-Feb-14 15:42:07

I'd get the advice of an IFA, not MN. Not being facetious with that answer, btw.

Preciousbane Tue 18-Feb-14 15:43:14

I would spread the asset, the max which is about 11.5 in both a regular isa and a tracker isa and then the rest in the best yield bond I could get.I would take out a five year bond. This is purely the ramblings of an amateur who is not a big risk taker btw. I know my DH would invest about half of that and take much bigger risks, he has and it has paid off but I get twitchy.

CogitoErgoSometimes Tue 18-Feb-14 17:47:24

Definitely don't put as many eggs as that in one basket. As you're talking about a fairly long-term investment and significant amount of money it's certainly worth talking to an IFA.

peggyundercrackers Tue 18-Feb-14 17:54:37

under the bed? i would invest it and take more risk with it than be safe. the economy is picking up, FTSE is doing well and i think will continue to do well over the next few years - lots of opportunities to make good money!

specialsubject Tue 18-Feb-14 19:19:09

spread it out. Savers are dirt and will continue to be so, so you can't get any real interest - however you need some accessible emergency funding.

otherwise it is investments, risky but no alternative.

bonvivant Tue 18-Feb-14 19:24:16

You will probably pay £1k or so for your financial advisor - I think you can do it yourself if you're prepared to put the research in. Moneysavingexpert.com should be your new best friend smile

jessrichmond Tue 25-Feb-14 17:25:10

First, pay off any debt, and look at what that reduction on your mortgage would save you annually. Then....the stock market! Lloyds and Barclays are very depressed, and I think shares in BT are still very good value. I'm counting on a 10% profit on each of those, from where I am now. Motley Fool do a very good amateur share account.

zippyswife Tue 25-Feb-14 17:49:06

What about a buy to let? I'm looking into this myself and the return on your money could be fantastic.

Notmadeofrib Tue 25-Feb-14 17:51:52

An adviser may charge you for advice, but it needn't be that expensive... compared to what a bad decision could cost you!
TBH your capacity for loss would be high on the list for discussion. Possibly deposit based structured products alongside some tax sheltered investments, all done once all debts and emergency funds have been accounted for.

TalkinPeace Tue 25-Feb-14 22:13:46

ISAs : fill up each year for you and your spouse
premium bonds in the mean time

Financeprincess Wed 26-Feb-14 10:58:54

If you still have a mortgage, offset the cash. You'll get a much better return on it than you would in most savings accounts, and you can withdraw it whenever you want. If not: I'm in the equities camp. I'd suggest investment trusts or ETFs rather than single shares. Make the most of ISA allowances.

Equities probably are a bit overvalued at present, but they are the least bad choice at present in my view. Cash returns are cr@p and I think property will take a tumble in a couple of years.

YouAreTalkingRubbish Thu 27-Feb-14 21:28:48

You would be asked for a lot more info than you have given before you would be given professional advice.
Things like-

Existing savings/debts/finances/pension provision/tax etc
Your age and family situation
What are the chances you might need some of it.
Who will manage it
If you manage it, how knowledgable are you and how involved do you want to be. How much work do you want to put into this.
How risk adverse are you
Are you concerned just with capital growth or do you want dividends too

I don't really know what I am talking about but I listen to MoneyBox a lot grin

Morebiscuitsplease Thu 27-Feb-14 21:37:50

I would seek the advice of a good independent financial advisor, not one tied to the bank!!! They will look at your attitude to risk and yes you will pay for their advice but the products they have available can be very good and only avowal el through an IFA. Stock market is quite high so might not be the best time to invest. A good well established IFA will have more knowledge and experience than you.
HTH

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