Savings to invest somewhere?

27
Posted 29th Aug
I'm looking to invest some of my hard earned savings, I've got a smallish mortgage, (overpaid well) zero other debt, got into saving (money sat in the bank) and also got an emergency fund of cash in the bank. my job is pretty secure and I pay 20ish % in my pension.

although I've done ok now, I was horrendous with managing my money in my early 20s and learnt the hard way.

looking to invest in a fund/shares etc, any help/advise would be appreciated.
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I put 10k in premium bonds, won £50 in my first month, isn’t that more than a years interest in the bank
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Interest rates are rubbish atm. We've put our savings into premium bonds. Had 2 x £25 wins in a couple of years with approx 2k in bonds. Not much but could win big.
Vanguard life strategy
younpick the level of risk
Edited by: "snoopy18" 29th Aug
premium bonds are a good alternative to savings at the moment as interest rates are so low. pretty safe as well as your capital is never lost and you could always win big
If this is money that is required in a year or two and you cannot afford for the amount to shrink even temporarily, stay away from the markets.
I put 10k in premium bonds, won £50 in my first month, isn’t that more than a years interest in the bank
If you have spare cash that then could u pay more into pension? It will also attract tax relief and on top of that the stockmarket is down.
Ok - so you've asked a reasonable question....but on a deals forum. The fact that people will offer advice without knowing the first thing about you, you circumstances and you long term aims says it all. You'll likely get a range of answers from sensible to barking mad - just how are you going to tell the difference?

You really should get professional advice and be willing to pay for it. Don't repeat your (self admitted) mistakes of the past - you owe it to your self
Mendoza29/08/2020 16:08

I put 10k in premium bonds, won £50 in my first month, isn’t that more th …I put 10k in premium bonds, won £50 in my first month, isn’t that more than a years interest in the bank


yes, that is pretty good going
Xippi29/08/2020 16:36

Ok - so you've asked a reasonable question....but on a deals forum. The …Ok - so you've asked a reasonable question....but on a deals forum. The fact that people will offer advice without knowing the first thing about you, you circumstances and you long term aims says it all. You'll likely get a range of answers from sensible to barking mad - just how are you going to tell the difference? You really should get professional advice and be willing to pay for it. Don't repeat your (self admitted) mistakes of the past - you owe it to your self


Just looking for advice, a few thing mentioned I'll look in to, be nice to see how it goes. If nothing pans out before I do something with my money I'll seek further advice. Thanks
Off the top of my head....

If you have kids, NS&I Junior ISA 3.25% (£9000 per year max)

Regular Savers 2.75% HSBC/First Direct/M&S

Monmouthshire Regular Saver 1.5%

Virgin current a/c 2% max £1000

TSB current 1.5% on £1500. (can have 2 accounts)
Xippi29/08/2020 16:36

Ok - so you've asked a reasonable question....but on a deals forum. The …Ok - so you've asked a reasonable question....but on a deals forum. The fact that people will offer advice without knowing the first thing about you, you circumstances and you long term aims says it all. You'll likely get a range of answers from sensible to barking mad - just how are you going to tell the difference? You really should get professional advice and be willing to pay for it. Don't repeat your (self admitted) mistakes of the past - you owe it to your self

..think your "r" key is problematic...
What is premium bond?
I would pay more off the mortgage if you can Without having to pay a penalty fee. As it’s likely the interest on that greater than you will revive in a savings account.
rimalpatel00729/08/2020 17:46

What is premium bond?


from NSI. each pound buys a unique number which is entered into the monthly draw. you could win prizes from £25 to £1m in the draw.

you never lose your money that you invest to buy the numbers, unlike the national lottery. all you lose is the potential interest that you could have achieved if you had put that money into a bank account. as interest rates are so low nowadays, that is no great loss

here is a helpful analysis from MSE


moneysavingexpert.com/sav…ds/
Plum is fantastic saving tool,and also has shares. I’ve only put aside a little in bonds and shares and on Friday made over £20. Remember the stock market goes up and down but hey I’m earning more that interest
With regards to your desire to invest in funds/shares.

Open a stocks & shares ISA (£20k max per year, all growth/income tax free). Mine is with Hargreaves Lansdown. Find a few varied funds, I've done very well with USA, global and tech funds. Whilst past performance is not a guarantee for the future, I have found a few that have reliably returned 10/15/20% in most years. Despite covid, this year is proving to be one of the best. When starting to invest I'd suggest you avoid individual shares and spread the risk via funds. Good luck and clearly all just my personal opinion
Speculator29/08/2020 17:33

Off the top of my head....If you have kids, NS&I Junior ISA 3.25% (£9000 …Off the top of my head....If you have kids, NS&I Junior ISA 3.25% (£9000 per year max)Regular Savers 2.75% HSBC/First Direct/M&SMonmouthshire Regular Saver 1.5%Virgin current a/c 2% max £1000TSB current 1.5% on £1500. (can have 2 accounts)


"Regular saver accounts" usually have a small limit and your interest is based on the monthly total so if you have say £3K over a year you'll only get the headline rate on half the final amount, A bit misleading when people are comparing rates.

I'm not saying they are terrible (usually) just not that wonderful.



Please Note. the value of savings and investments can go up and down depending on how the government feels on any particular day.
joyf453629/08/2020 22:06

"Regular saver accounts" usually have a small limit and your interest is …"Regular saver accounts" usually have a small limit and your interest is based on the monthly total so if you have say £3K over a year you'll only get the headline rate on half the final amount, A bit misleading when people are comparing rates.I'm not saying they are terrible (usually) just not that wonderful.Please Note. the value of savings and investments can go up and down depending on how the government feels on any particular day.


I know. The money in the meantime is in my 1.2% Marcus (soon 1.05%)
Speculator29/08/2020 22:20

I know. The money in the meantime is in my 1.2% Marcus (soon 1.05%)


NSI or Paragon then.
joyf453629/08/2020 22:29

NSI or Paragon then.


Happy with 1.05% Marcus. Withdrawals are instant via FP Mon to Fri.

Don't think any other provider has a instant access a/c paying more.
Speculator29/08/2020 22:41

Happy with 1.05% Marcus. Withdrawals are instant via FP Mon to Fri.Don't …Happy with 1.05% Marcus. Withdrawals are instant via FP Mon to Fri.Don't think any other provider has a instant access a/c paying more.


NSI 1.16% in the account next day. Paragon better rate but 1-5 year fix.My guess (for what it's worth) is that interest rates will pick up faster than most people think. That could help people (or Governments!!) will large amounts of debt.
joyf453629/08/2020 22:45

NSI 1.16% in the account next day. Paragon better rate but 1-5 year fix.My …NSI 1.16% in the account next day. Paragon better rate but 1-5 year fix.My guess (for what it's worth) is that interest rates will pick up faster than most people think. That could help people (or Governments!!) will large amounts of debt.


Need instant so NSI no good for me. Already fixed a lot when RCI were offering 1.9% on their 5 yr Bond back in April.
Speculator29/08/2020 22:41

Happy with 1.05% Marcus. Withdrawals are instant via FP Mon to Fri.Don't …Happy with 1.05% Marcus. Withdrawals are instant via FP Mon to Fri.Don't think any other provider has a instant access a/c paying more.


my Tesco Bank is still 1.16% luckily as i am an existing customer. i also have a Marcus account.
Speculator29/08/2020 17:33

Off the top of my head....If you have kids, NS&I Junior ISA 3.25% (£9000 …Off the top of my head....If you have kids, NS&I Junior ISA 3.25% (£9000 per year max)Regular Savers 2.75% HSBC/First Direct/M&SMonmouthshire Regular Saver 1.5%Virgin current a/c 2% max £1000TSB current 1.5% on £1500. (can have 2 accounts)


Is this correct? You can get 2.75% interest with HSBC/First? What is the criteria?Do you have this acc?
zhialrs30/08/2020 08:44

Is this correct? You can get 2.75% interest with HSBC/First? What is the …Is this correct? You can get 2.75% interest with HSBC/First? What is the criteria?Do you have this acc?


You need to open their current account to qualify for the regular saver.

Also, think First Direct have temporarily suspended opening accounts due to covid-19.
Mendoza29/08/2020 16:08

I put 10k in premium bonds, won £50 in my first month, isn’t that more th …I put 10k in premium bonds, won £50 in my first month, isn’t that more than a years interest in the bank


So did I - got nothing after three months so took my money out, got £250 investing in a Ftse250 tracker with just £2.5k,
I also put £5k in P2P lender but do not recommend that - Got a £50 bonus but it's going to take a while before I can get my money out.
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