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+--- Thread: Savings advice (/showthread.php?tid=67198)
Savings advice - slimwilly - 06-02-14
The mother inlaw has 9 grand sat in a bank doing nothing,making nothing,
so whats a better way to invest this witout risk?
ISA,s ,are they an opption?
what do you know,,,thanks
and no Christo,,she does not want to invest in a Fazer :lol
Re: Savings advice - ChristoT - 06-02-14
How about e-Go aeroplanes? It is a risky investment, but I know how determined the CEO is. And it's bloody cool!
Re: Savings advice - Mattsplat - 06-02-14
Premium bonds.
My Mum has about 10k's worth and wins something nearly every month.
Re: Savings advice - sure2ride - 06-02-14
Give it to me, I'll look after it for her :lol
Re: Savings advice - fazersharp - 06-02-14
I am not qualified to give financial advice and you do any of the following at your own risk also information given may not be accurate and I may of also made it all up
Isas,
But she has more than the max limit for the year which starts in April, she needs to put the max limit she can into one now its somthing like 5,900
So she will hve put the max in for the year 2013/2014 ending april 5th
Then after april 6th she can put in the rest and she can also add onto that up to the 2014/2015 max limit
These will be instant access cash isas or if she wants to get more interest she can lock in in for longer, but as interest rates may soon be going up she could be better off instant cash one ind be free to move it to a better paying one
Re: Savings advice - Drax - 06-02-14
Watching the TV yesterday some companies posted their end of year (2013) results:
BP (only) made £8.2 billion down from 10billion last year -as a result their share price plummeted. :\
However a company called Ocada seems the way forward. They do the home deliveries for Waitrose & a few supermarkets. In the last 14 years of trading they have never EVER made a profit & yesterday posted a 2013 loss of £14.5 million pounds.
Their share price went up significantly. :eek
Now how the hell is it that a company that makes a profit year in year out e.g BP the shares go down but a company that makes has never made a profit EVER i.e run at a loss in 14years of trading - the shares go up?
Apparently Ocada shares are due to go through the roof exponentially in the next few years as on line trading is going to shut down the high street. So that's where you should put your MIL's money
Re: Savings advice - fazersharp - 06-02-14
ocadas shares that go up --- or any others that make a loss and they go up because the loss could of been less than the brain dead sheep on the trading floor were expecting it to be.
Bps shares were riding high on the back of high oil price which has now come down and the shares have come down in line with that
Re: Savings advice - slimwilly - 06-02-14
So how do you buy ISAs ?
Re: Savings advice - fazersharp - 06-02-14
(06-02-14, 08:38 PM)slimwilly link Wrote: So how do you buy ISAs ?Any bank - you go in and its basicly just opening a savings account, proof of id and stuff
Re: Savings advice - red98 - 06-02-14
Got an ISA......but not impressed with it........premium bonds sounds like a good bet.......been thinking about moving my lloyds accounts to the halifax..........bit different to other banks as I think the bank is owner by the customers....unless of course you know different :rolleyes
Re: Savings advice - Kosmic Kartman - 06-02-14
Thing is with ISA's they, the banks, offer nice interest rates come April that last a year then they drop the interest rates on those ISA's. Then they introduce "The New Sparkley Egg ISA" with xxx% interest....
What a bloody pain up the arse. I've lost count of the amount of times I've moved money from an old ISA just to bung it in a NEW ISA to get more interest. Talk about wasting time.
Re: Savings advice - tex - 06-02-14
Buy some gold ideally coins, as its tender you dont pay much tax, it goes up and down, but sell at the right time and you can make a nice profit
Re: Savings advice - rustyrider - 06-02-14
I'd second Premium Bonds too. I've got £5k worth and have won £275 in the last year. That works out to 5.5% so a pretty good return and you can take your money out any time you like. 100% safe too, unlike shares, at worst all you lose is the value against inflation.
Re: Savings advice - fazersharp - 06-02-14
(06-02-14, 10:33 PM)tex link Wrote: Buy some gold ideally coins, and you can make a nice profitHey you could make a mint !
(06-02-14, 10:30 PM)Kosmic Kartman link Wrote: Thing is with ISA's they, the banks, offer nice interest rates come April that last a year then they drop the interest rates on those ISA's.Yes so like you do already you just move it to another/ better one, it dosent cost you anything to move it and the new isa providers will do all the work
Re: Savings advice - fazersharp - 06-02-14
(06-02-14, 10:41 PM)rustyrider link Wrote: I'd second Premium Bonds too. I've got £5k worth and have won £275 in the last year. That works out to 5.5% so a pretty good return and you can take your money out any time you like. 100% safe too, unlike shares, at worst all you lose is the value against inflation.Ok now the rest of your story --- how long have you had your 5k in the bonds
Re: Savings advice - slimwilly - 06-02-14
Isas seem to be 1.5%, isthat all they give?
Re: Savings advice - goldfazer - 06-02-14
Silver - it's used a lot in solar panels etc., so as well as being a precious metal it has a value as a commodity.
Re: Savings advice - slimwilly - 06-02-14
I was working for a jeweler recently and he said the new investment trend for those with cash is DIAMONDS :eek
He had a customer recently buying a diamond for £127,000, purely to resell in a while, diamonds are a currency of their own,similar to gold.
Re: Savings advice - rustyrider - 06-02-14
(06-02-14, 10:46 PM)fazersharp link Wrote: [quote author=rustyrider link=topic=11588.msg125253#msg125253 date=1391722902]Ok now the rest of your story --- how long have you had your 5k in the bonds
I'd second Premium Bonds too. I've got £5k worth and have won £275 in the last year. That works out to 5.5% so a pretty good return and you can take your money out any time you like. 100% safe too, unlike shares, at worst all you lose is the value against inflation.
[/quote]Just over a year. Started with £2k and got £25 on the first draw they were in and have added the extra £3k since. I appreciate that over a longer period they may not pay out as often (my daughter had £100 in bonds bought for her as a christening present and has since over doubled her money. However, she is now 26.......). But with banks only giving 1-2% on savings at best, it's still at least as good if not better. And there's always the chance that you win the million with much better odds than the lottery!
Re: Savings advice - Fazerider - 07-02-14
The idea of peer to peer lending is tempting: Funding Circle lends to small businesses, Zopa lends to individuals, Ratesetter and Wellesley are other companies offering fixed term deals. There is more risk, of course, some have a provision fund which should cover defaulting borrowers, but they aren't covered by the FSCS.
Alternatively, a stocks and shares ISA can be good and has the advantage that any gains are tax exempt. You can go with a package that tracks a particular index like the FTSE or, if you're feeling brave, self select with a broker like TD Waterhouse. If you opt for self-select, buy shares in 5 to 8 companies to spread the risk (more than that and the dealing charges start to become significant).