Dave-G Posted September 2, 2019 Report Share Posted September 2, 2019 (edited) Having recently done a modest equity release, partly to help our daughter to get her foot on the property ladder, we will have about a 10K portion of funds in my current account that is unlikely to be needed for the next 10 years or so. I'd like to put a 10K lump somewhere low risk to help offset the equity release interest rate of 3 point something %. Wife has put the paperwork away in a safe place so I can't be exact ATM. HSBC current account interest is almost non existent - is it worth going to speak with them about what to do with it? I've seen there are other current accounts that pay 2% or thereabouts but only for maybe £2500 balances, requiring a regular pay in that could be covered by my standard state pension. I've seen posts on here from financially aware members so whats best to be done with it please chaps? I see plenty of information about saving accounts where a regular amount is deposited but can find hardly anything about interest rates on a lump sum fixed term basis. I'm probably just unaware of what that type of account is called. We currently have two state pensions coming into the house and I have started a bit of local mowing that tops me up by nearly a grand a year, that keeps my income well below the tax threshold, and are rather frugal with one 18 years old car between us etc, and of course don't pay rent or mortgage nor any HP debts so should manage fairly nicely while we're both still alive and in reasonable health. Edited September 2, 2019 by Dave-G Quote Link to comment Share on other sites More sharing options...
JohnfromUK Posted September 3, 2019 Report Share Posted September 3, 2019 With the present political uncertainty ......... looking 10 years is impossible .......... even 10 days is difficult! Gut feeling is some sort of ISA account, but since at present you are outside the tax bracket, and the interest on £10K won't change that I think the best interest savings account you can find might be just as good. Fixed period accounts (e.g. 5 year) may offer slightly better rates. Personally, I would in the past have gone in a "stocks and shares" ISA, but with the stock marker currently near an all time high and such uncertainty - that is risky, and you don't need the tax advantage. You can get 4 or 5% income from an income themed ISA, but risk value dropping (or it could rise). I am really at a loss for good ideas, but maybe others will have some ideas. Quote Link to comment Share on other sites More sharing options...
bruno22rf Posted September 3, 2019 Report Share Posted September 3, 2019 We went via the current account route with 10k - open 4 accounts i.e. you, your wife, a joint and one in ,say, your daughters name. Send a payment from one to the other, then on to the next and so on each month and then pay a regular outgoing bill with each one making sure that you pay each relevant account out of your current account. Premium Bonds are safe but payout is obviously not guaranteed - we get around £150/year on 40k. Solar Panels are worth thinking about but you will have to wait for any profit although your energy bills will plummet in the meantime - after paying our energy bill our panels are making around £40/month but our energy bill is only £36/month. Quote Link to comment Share on other sites More sharing options...
Benthejockey Posted September 3, 2019 Report Share Posted September 3, 2019 The way the world is at the minute under your mattress is probably the safest place to keep it! Quote Link to comment Share on other sites More sharing options...
the hitman Posted September 3, 2019 Report Share Posted September 3, 2019 Most buildings societies have an investment department within the branch. Tell them that you have 10k to invest and the amount of interest you can earn is based on the level of risk you are preparing to take ( it’s stocks and share based). very low risk will give a return of around 4% rising to around 8% for higher risk investment. Probably find some middle caution investment with 5 or 6% return. You will be changed a one off investment change of about 3% so you would not see the benefits in year one however after that your 10k will grow. I have had an account like this for years and have never had less that 5% interest year on year. Dont be concerned about Brexit and political uncertainty as most stocks and shares are not affected by this ( oil, gas etc) . you cannot achieve this level of interest with an isa or current account. Hitman Quote Link to comment Share on other sites More sharing options...
krugerandsmith Posted September 3, 2019 Report Share Posted September 3, 2019 24 minutes ago, Benthejockey said: The way the world is at the minute under your mattress is probably the safest place to keep it! Even that isn't safe. Quote Link to comment Share on other sites More sharing options...
Benthejockey Posted September 3, 2019 Report Share Posted September 3, 2019 26 minutes ago, krugerandsmith said: Even that isn't safe. If you got past my wife and kids youd be lucky 😂 especially the baby, shes got teeth! A nice little 1acre plot somewhere on a planning boundary could be lucrative. Or gold Quote Link to comment Share on other sites More sharing options...
Lloyd90 Posted September 3, 2019 Report Share Posted September 3, 2019 31 minutes ago, Benthejockey said: If you got past my wife and kids youd be lucky 😂 especially the baby, shes got teeth! A nice little 1acre plot somewhere on a planning boundary could be lucrative. Or gold It’s all good keeping it under the mattress until your burgled or your house burns down 😭. These days your probably better off buying a solid second hand Rolex or Gun and keeping it in top condition 👍🏻. Quote Link to comment Share on other sites More sharing options...
dodeer Posted September 3, 2019 Report Share Posted September 3, 2019 That sort of money like someone said buy a Rolex or a higher end gun and sit on it. Quote Link to comment Share on other sites More sharing options...
islandgun Posted September 3, 2019 Report Share Posted September 3, 2019 1 hour ago, krugerandsmith said: Even that isn't safe. If he kept it under a mattress, would it be sensible to change £'s into a different currency [ in the event of the £ falling] Quote Link to comment Share on other sites More sharing options...
Teal Posted September 3, 2019 Report Share Posted September 3, 2019 Can you put it back into your own property (that you released it from I presume?) Quote Link to comment Share on other sites More sharing options...
Newbie to this Posted September 3, 2019 Report Share Posted September 3, 2019 1 hour ago, Benthejockey said: If you got past my wife and kids youd be lucky 😂 especially the baby, shes got teeth! A nice little 1acre plot somewhere on a planning boundary could be lucrative. Or gold Maybe look at buying some woodland, a mate bought some when the recession hit, for the same reasons of little to no interest. He paid around £26,000 and he says it is now worth around £150,000. And as an added bonus he can shoot there as well, I think he has it cleared for .308. Quote Link to comment Share on other sites More sharing options...
panoma1 Posted September 3, 2019 Report Share Posted September 3, 2019 Buy my Tolley double 8 bore? They ain't makin any more! And English gunmakers ain't since the late 19th early 20th century......they can only appreciate in value! Lol! 🤑 Quote Link to comment Share on other sites More sharing options...
KB1 Posted September 3, 2019 Report Share Posted September 3, 2019 You can't take it with you……… Just have a nice little holiday; week or two👍 Quote Link to comment Share on other sites More sharing options...
NoBodyImportant Posted September 3, 2019 Report Share Posted September 3, 2019 2 hours ago, panoma1 said: Buy my Tolley double 8 bore? They ain't makin any more! And English gunmakers ain't since the late 19th early 20th century......they can only appreciate in value! Lol! 🤑 Yeah, I vote buy guns. But I have made bad choices in my past and I am poor so not sure I am the one to take advice from. Quote Link to comment Share on other sites More sharing options...
oowee Posted September 3, 2019 Report Share Posted September 3, 2019 I would look to spread it over some low risk funds. I have done well with buying into doctors surgeries and health centres. Long lease (20 years plus) to NHS return at about +4% income, plus capital growth (or decline). Simple and low risk. If the NHS continues to grow according to the plan then in very short supply. Not the most exciting 🙂 Quote Link to comment Share on other sites More sharing options...
panoma1 Posted September 3, 2019 Report Share Posted September 3, 2019 1 hour ago, NoBodyImportant said: Yeah, I vote buy guns. But I have made bad choices in my past and I am poor so not sure I am the one to take advice from. Having just purchased a piece of land and run an old Land Pig............historically speaking..... "me thinks paleface speak with forked tongue" lol! Quote Link to comment Share on other sites More sharing options...
zipdog Posted September 3, 2019 Report Share Posted September 3, 2019 Low risk Bitcoin High risk Alt coins Quote Link to comment Share on other sites More sharing options...
old'un Posted September 3, 2019 Report Share Posted September 3, 2019 Land, stocks and shares, don’t buy a gun, the main market was the USA but the bottom as dropped out of that of late, plus no one knows what pressure shooting will be under in 5-10 years, there could be a lot of guns hitting the market. I would go with medium to low risk stocks and shares ISA, company I use are Fidelity (there are others)…https://www.fidelity.co.uk/?gclid=EAIaIQobChMI6trp3dK05AIVTLTtCh1ouQhiEAAYASAAEgISYPD_BwE&ef_id=EAIaIQobChMI6trp3dK05AIVTLTtCh1ouQhiEAAYASAAEgISYPD_BwE:G:s&s_kwcid=AL!8153!3!354691698144!e!!g!!fidelity investments&utm_source=google&utm_medium=paid_search&utm_campaign=UK_-_Brand_-_Pure_-_Plus_-_Exact&gclsrc=aw.ds Quote Link to comment Share on other sites More sharing options...
243deer Posted September 3, 2019 Report Share Posted September 3, 2019 worth a look https://www.nfumutual.co.uk/investments/isas/shrewd-savings-plan/ Quote Link to comment Share on other sites More sharing options...
Wooder Posted September 3, 2019 Report Share Posted September 3, 2019 Premium bond, easy access if you want your money out, safe, and with 10k invested you should get a few winners each year. Quote Link to comment Share on other sites More sharing options...
Penelope Posted September 3, 2019 Report Share Posted September 3, 2019 5 hours ago, panoma1 said: Buy my Tolley double 8 bore? They ain't makin any more! And English gunmakers ain't since the late 19th early 20th century......they can only appreciate in value! Lol! 🤑 Are you selling her? Quote Link to comment Share on other sites More sharing options...
panoma1 Posted September 3, 2019 Report Share Posted September 3, 2019 1 minute ago, Penelope said: Are you selling her? I am considering it! Quote Link to comment Share on other sites More sharing options...
RockySpears Posted September 3, 2019 Report Share Posted September 3, 2019 Open a bullionvault account (10 mins), but £10,000 of gold. Walk away. You can get the money out any time you like, even in bits if you want. No lock-ins etc etc RS Quote Link to comment Share on other sites More sharing options...
RockySpears Posted September 3, 2019 Report Share Posted September 3, 2019 If you bought gold: 10 minutes ago you would now have £10,046 10 hrs ago you would now have £10,098 10 days ago you would now have £10,458 10 months ago you would now have £13,475 10 years ago you would now have £25,106 RS Quote Link to comment Share on other sites More sharing options...
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