Total risk free investment.

[Imtoooldforallthis]

If you had a large amount of savings and didn't want any risk what would you do with it £50k plus.

@Bakingcupcake “we have” was suggesting to the OP this was an option, it wasn’t ‘we have 50k each’, it suggests some level of possession talking about larger sums. Clarity in giving advice is useful I find, but perhaps you were more intent on showing off (weird, but hey).

Hardly savvy saving cash to that extent either, but, carry on doing what you’re comfortable with.

bricks & mortar? second property could be beneficial long term

It's difficult to provide a full answer here without understanding: current level of other assets, your risk tolerance, understanding of investment concepts and other personal factors. However, at this level you should be looking to invest beyond cash products. Premium bonds offer a very poor return over the long-term as does cash.

The problem will be arranging an investment at low cost which you can self-manage. Fortunately there are products available.

I'd take a good look at AJ Bell's Invest Centre platform.

@lwalsh not with a tenet that doesn’t pay rent though

@lwalsh wrong thread - sorry

@lwalsh

bricks & mortar? second property could be beneficial long term

^ yes or upgrade your house or move somewhere 50k more expensive. If not a pension?

Weirdlynormal - do me a favour and read the rules on premium bonds.
Money can be ‘invested by parents or grandparents’ and a parent needs to be in charge of the account (the nominated account for deposits and withdrawals needs to be a parent’s account).

@ForensicAccountant I fully understand the rules. I sure you might like a little recap in the rules for parents holding their retained assets in a child’s name. There are tax implications as I hope you well know. The OP asked for ‘what can I do with MY’ money. Suggesting you use the money to put it in the name of a child is not FCA standard advice, I doubt it would meet any ethical codes, I know that if that child wins the winnings would suddenly miraculously belong to the parent... oh hang on that’s NOT what making an investment in the name of your child AS A GIFT means. Baking cupcake is, funnily enough, trying to have her cake and eat it.

Please don’t try some misplaced patronising rubbish here, you’ve got it wrong.

@ForensicAccountant

Weirdlynormal - do me a favour and read the rules on premium bonds. Money can be ‘invested by parents or grandparents’ and a parent needs to be in charge of the account (the nominated account for deposits and withdrawals needs to be a parent’s account).

Thank you..we have premium bonds and our children have them, any money they win gets reinvested back into their bonds for THEM, as does birthday/xmas money from other members of our family gets put in their bonds or isa's. Im fortunately not in a position where I need to be stealing savings from my kids! All the child benefit we recieve for them also gets saved in these for them...unfortunately Wierdlynormal seems to think we are doing something wrong as he doesnt know us personally or our financial situation!!

@Bakingcupcake I refer you back to my last response to you.

Funny how you don’t respond to that but reappear when you think someone has defended you. Anyway, anyone that FTFT will see.

[quote Weirdlynormal]@Bakingcupcake I refer you back to my last response to you.

Funny how you don’t respond to that but reappear when you think someone has defended you. Anyway, anyone that FTFT will see.[/quote]
Whats the point in responding to you when your only out for an argument! If thats how you want to be no problem

I think you came out swinging, but whatever

Premium Bonds do not pay interest or an income. There is prize money which is not subject to the £100 rule (which is what I think you refer to).
But don’t take it from me - google it!

Doesn’t seem very wise to hold 150k + in premium bonds. That money will fast be losing value. Investing in S & S ISAs makes much more sense.

@weirdly... Suggesting you use the money to put it in the name of a child is not FCA standard advice,

I kid you not, but because financial advisers don’t earn commission from NS&I, the FCA point out that it is good practice for a financial adviser to mention NS&I options where they are suitable.

@ForensicAccountant yes ‘winnings’ that belong to the child.

I fully understand the system, but it was the manner that Bakingcupcakes suggested the activity: ‘we have’, in other words suggesting her money was in premium bonds. No tax is due on LIMITED investment of 50k per person. It is not a facility for parents to squirrel their own money.

Plenty of IFA would suggest holding cash in premium bonds - some are actually honest. Commission is illegal and advice is paid by fees

Anyway, me calling out the clarity of Baking’s ‘advice’, suggesting that squirrelling in kids accounts is unethical, all stands.

Yes, You are right about commission now being illegal. Charging fees and taking them from the fund instead is fundamentally different! But at least there are changes happening there as well (pensions).
As some famous person once said, there is no requirement ethical or otherwise to arrange your affairs in a way so you pay maximum tax.

Well actually I'll upgrade my unethical to: if you are holding your money in the name of a child, you are avoiding tax.

If you invest in tax free investments, you are avoiding tax.
If you buy a property before end of March, you are avoiding tax.
If you buy an electric car, you become a tax avoider on such a massive scale, that it will seriously impact the government’s tax take if everyone joins in.

Mitigating tax or avoiding tax - one is legal, we both know that. Putting your own assets in another’s name is tax avoidance.

Avoiding tax is legal. Unless HMRC decide to crack down on a tax avoidance scheme. It's evading tax that is illegal.

Currently I think that the best move is to buy Ethereum crypto currency. It's not very hard to do (You can use an app like Coinbase) and my money doubled in a year.

You can also enter crypto raffles which are a bit like winning the Pools. You enter a small amount of Bitcoin or Ethereium into a raffle wallet:

(like this one which is being ran by NFTs and SpaceX:
0x846FA01e840040f189136774804C0cfe2630C)

and apparently you sometimes get winnings back into your account.
I know someone who said that they won 10 Bitcoin back in their wallet in winnings. Which is worth a lot now I imagine!