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Investment savings

Discussion in 'General Off Topic Discussion' started by mattamomo, Jun 19, 2019.

  1. mattamomo

    mattamomo Registered User

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    I've always left my savings in either premium bonds or the highest interest saving accounts. But lately I've been considering chucking some into one of those investment structured accounts.
    Has anyone had much experience with them? Obviously they aren't risk free so I'd like to get a better understanding of the process you may go through over a couple of years investing.
    But I'm not doing a lot with the money and it's not significant enough to say; invest in property. So it seems a decent prospect to get better returns than the typical 1-2% savings accounts.
    Curious if anyone on here has tried them before.
     
  2. miss_lfc

    miss_lfc Registered User

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    I personally don’t have any experience with them, we’ve just got the normal type ISA/savings accounts including one for each kid. I didn’t like the risk element of the structured one as it can fall as well as rise can’t it. And I’m sure they charge a fee too.

    I hope you find someone on here who uses one.
     
  3. AlissonWonderland

    AlissonWonderland Slumdog Mignolet

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    Just chuck it all on Rhian Brewster on Football Index. Made me a small mint.
     
  4. johnnyT

    johnnyT Registered User

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    Buy some land would be my advice, i bought some for 8k 10 years ago (a field just over 3acres) and recently sold for £26k
     
  5. Habbinalan

    Habbinalan Registered User

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    Things have changed (and are about to change even more quickly) since I was worrying about where to put savings rather than how quickly to work my way through them. We've lived in the same house (extended and improved) for over 30 years.

    Buying houses and improving them delivered best returns back in the day. Paying off the mortgage was better than most of the savings options when we did that - it also felt incredibly good and back in control. Gave the momentum to plan for early retirement and ways to cover the gap until pensions kicked in. Redundancy in my mid 50s delivered a lump sum to help with that and access to pensions from age 60 without penalty topped that up.

    My sister-in-law was in the business of "Investment Adviser" (i.e. salesman) after working for Barclays, so we took her steer on who to get advice from for the redundancy and pension lump sums and have done fairly well. We've now been spending it for quite a few years.

    That said, if I was in work now and didn't own a house or flat, I'd not be worrying too much about the difference between savings rates and investment rates of return. How much you have in your pot in 2 or 3 years and what you can do with it will have more to do with how much you save, how easily you can get at it and why you're saving it. If it's for emergencies or to get a flat/house down the road, you need easy access. Only if you have scope to put something away for a pension or the longer term, will investments have a key role. In that case, with a pension pot your return will be boosted because your employer will be chipping in and so will the taxman.
     
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  6. The only Greek here

    The only Greek here Registered User

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    So, it is 1-2% increase if you put it in an English bank?

    Here, you will be lucky if it barely touches 0,1%
     
  7. Flip Duckling

    Flip Duckling Registered User

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    If you've got strong mates then I'd suggest to invest in property together. The only issue is whether a friend or two loses their source of income. I did it with a few friends a decade ago, it paid off very well. It was a bonus for us as two of us were in the trade. That or playing stocks will get you the best returns, obviously the latter requires some research and skill, which is why I've never done it.

    The kind of thing you're on about is small reward in terms of investment.
     
  8. Jezza

    Jezza Registered User

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    Got approved for a loan yesterday. It was kicked back originally because I wasnt specific enough. Ticked the box that said general day to day usage or whatever it was. So the bank phoned and said I needed to be more specific about what the money was for and to reapply. So I lied, and claimed it was for kitchen appliances. £5,000 for kitchen appliances. I rent. Free money:finger
     
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  9. Habbinalan

    Habbinalan Registered User

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    [​IMG]
     
  10. Jezza

    Jezza Registered User

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    [​IMG]
     
  11. Monkey

    Monkey Monkey see, Monkey do.

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    Lend me a fiver until next week?
     
  12. Jezza

    Jezza Registered User

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    Lend a fiver, pay back 10. Send me your bank details
     
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