Cash ISA

[wensleydale]

Invest in your company if that's how your wanting to earn your money. I know what I want to spent my next 50 grand on already

I don't really agree with that- everyone should have a back up plan in case you can't carry on the business for whatever reason, and a "rainy day fund" in case work dries up or the day job ceases to exist.

You may also not need to invest more in the company, so the "invest more" comment is not necessarily the wisest idea.

[Ecstatic Events]

You lost 8 grand? Or did you mean £8? Either way Ill need some convincing

[wensleydale]

This man knows his stuff-

http://www.moneysavingexpert.com/savings/best-cash-isa

3.3% is currently the market leader.

[Charlie Brown]

Visit a financial advisor. I did when looking at investments for my pension and got great advise. Mine is split between more risky and 'safe' investments. Been doing it for about 8 year and all looking quite good, considering interest rates at the moment.

True, that sounds like good advice BUT surely people visit an advisor when they've got big money to put away? I'm talking about a couple of grand to go towards an apartment or van.

You lost 8k?

Yes, in shares though.

First Direct have an 8% regular saver, so that's best for the regular savings.
The advantages of an ISA really show over several years when you use the allowance each year, but there's certainly nothing wrong with sticking £1000 in one.

Other options worth looking at are the National Savings Index Linked Certificates which I think are still available- this is linked to inflation +xx% (I think it's 05% plus inflation).

Riskier but with higher returns are Structured Products- google them to find out more (I use Moneyworld (a broker) to get the rebates) but make sure you know what you are going into.

In summary- an ISA is not a bad idea for the lump sum- then use FD for the regular deposits.

Thank you very much for your help. I'll have a proper read in a bit but you seem to know what you're talking about.

Invest in your company if that's how your wanting to earn your money. I know what I want to spent my next 50 grand on already

I wouldn't want to throw any more money into the business. I pay enough each month as it is. If you chuck £50 grand at your company, how long and when will you make the return? And what on? Dancefloors etc?

I don't think this is what I want to do for ever anyhow.

You lost 8 grand? Or did you mean £8? Either way Ill need some convincing

You know how much I meant. Again, it was in shares.

[Cowlinn]

Yes, in shares though.

Oh really? What did you have shares in?

[Charlie Brown]

Foreign and colonial

[Pe7e]

Current UK inflation is running at just over 4%, next year it will probably exceed 5% so any 'investment' yielding 2.6% is loosing you money, not making it. Cash investments with interest rates at the current historical low levels are a waste of money, and political pressure will ensure they stay low for the foreseeable future. Personally I think it's a great time to enter the equity market provided you only invest money you can afford to sit on if the market goes down, and invest via 'unit trusts' not direct share purchase, unless you really know what you're doing. Since taking a bit of a battering in the 87 crash I put my cash into managed funds as and when I was able to cash out of the shares I owned. I used (and still do) Fidelity International, and invested into their 'Special Situations' and 'South East Asia' funds, the returns have both been fantastic, you can check this out for yourself on the web. I have a small insurance policy maturing in January, the 10K will be split between the two funds, assuming of course there's no good reason not to at the time.

[Pe7e]

Regarding your 'lost 8K' have you actually sold your investment and took the loss, or are the shares you own currently worth 8K less than the purchase price, if you were to sell them tomorrow? there's a huge difference. If it's the latter, sit on them till the market recovers (it almost certainly will)

[Charlie Brown]

Regarding your 'lost 8K' have you actually sold your investment and took the loss, or are the shares you own currently worth 8K less than the purchase price, if you were to sell them tomorrow? there's a huge difference. If it's the latter, sit on them till the market recovers (it almost certainly will)

That's exactly what Dad said.

This time last week or ten days ago they were worth x amount but they dropped by 8k. He manages and looks after it. He said years ago (when he was 25ish) he used to live on the dividends he received from his shares. It's crazy really.

[DeckstarDeluxe]

I don't really agree with that- everyone should have a back up plan in case you can't carry on the business for whatever reason, and a "rainy day fund" in case work dries up or the day job ceases to exist.

You may also not need to invest more in the company, so the "invest more" comment is not necessarily the wisest idea.

Well I think your talking more about insurance while I was talking about a busniess plan and if you have a clear path in mind there is nothing wrong with pressing ahead with that.

Naturally what works for someone won't for work for someone else.