BarryRiley Posted April 4, 2013 Share Posted April 4, 2013 Screw it. Head down to Napoleon's and put it on black. Link to comment Share on other sites More sharing options...
Total Chaos Posted April 4, 2013 Share Posted April 4, 2013 If you want to avoid risk Look at National Savings and Investments ( http://www.nsandi.com/ ). It is government owned and your money is 100% covered. The penalty you pay for this is slightly lower interest rates. There is even a basic advisor on the site to help you decide what is best for you. I second this + instead of interest, which is very little at the momnet in a bank account there is a draw every month min win is £25 and highest is £1 mill.You can draw it all out within 3 working days,if it turns out not to be your thing or ISA's pick up. Link to comment Share on other sites More sharing options...
NorthernStar Posted April 4, 2013 Share Posted April 4, 2013 If someone gave me a pile of cash right now I would spread it around, don't put all your eggs in one basket and trust no-one. Link to comment Share on other sites More sharing options...
Gazza58 Posted April 4, 2013 Share Posted April 4, 2013 Buy a classic bike,bsa,norton,triumph,good investment and summat nice to look at. Link to comment Share on other sites More sharing options...
rodnreeluk Posted April 4, 2013 Share Posted April 4, 2013 I second this + instead of interest, which is very little at the momnet in a bank account there is a draw every month min win is £25 and highest is £1 mill.You can draw it all out within 3 working days,if it turns out not to be your thing or ISA's pick up.This reads like you are talking about Premium Bonds, which are a National Savings and Investments product, but they also do other savings such as ISA's, savings accounts, etc. I agree though, interest rates are so low why not take the gamble with premium bonds? - You have the chance to win and don't lose your stake. Link to comment Share on other sites More sharing options...
arrodbo Posted April 4, 2013 Share Posted April 4, 2013 When you receive it place it in Premium Bonds for the short term. You may well win a prize each month,however this gives you time to consider where and with whom to invest with. Each Independent Advisor will try to place it safely for you but its always difficult to pin down what they charge. I would look at the biggest Company in the world (Prudential) and put some with them and the rest i would leave in Premium Bonds until the Interest rates pick up. Do not be tempted to follow what your bank advises as they will only offer you their own products. Link to comment Share on other sites More sharing options...
altus Posted April 4, 2013 Share Posted April 4, 2013 also you need to be comfortable with the level of risk and return on investment - my mate put £10K into some scheme linked with the stock market and it's now worth only £4K (she is elderly and felt somewhat conned after saying to them initially that she did not want a 'risk' investment and didn't want it linked to the stock market). People have taken banks to court and won over this issue. Money box covered it recently: A Money Box listener has won more than £65,000 from HSBC after it sold her the wrong investments and then delayed for nearly a year before implementing her instructions to move her money. Hazel Appleyard was 75 when she inherited £450,000 after her husband died. She took advice from HSBC. But it acted against her instructions and she lost a lot of money. She went to the Financial Ombudsman but when it recommended a settlement of less than half her losses she decide to act. Hazel's lawyer got the settlement using 'no win, no fee' rules which ensured she would pay nothing even if she lost. And if she won HSBC would pay all her lawyer's costs - including which were doubled because she had won. But from April 1st those rules change. Money Box explores the issues raised. Link to comment Share on other sites More sharing options...
spilldig Posted April 4, 2013 Share Posted April 4, 2013 The stock market was always risky.A tax free isa at a building society and some premium bonds may be o'k. A bit lower interest but safer. Link to comment Share on other sites More sharing options...
bullerboY Posted April 4, 2013 Share Posted April 4, 2013 An independant financial advisor will only offer you what he can make the most from,his commision is taken from your initial investment before its invested therefor every thousand you invest his wages come out first and then whats left has to earn before your original ammount reaches what you thought you had put in the pot.He will be alright jack but you may have to wait a few years before it starts earning.Beware thieves wear suits and speak correctly these days,its just been said trust no one and whatever you do keep a check on its performance and dont tie it up for a long period,you dont know whats around the corner.It appears classic motor bikes are a safe bet but you have to be knowledgable before you buy tread with care. Link to comment Share on other sites More sharing options...
arrodbo Posted April 4, 2013 Share Posted April 4, 2013 An independant financial advisor will only offer you what he can make the most from,his commision is taken from your initial investment before its invested therefor every thousand you invest his wages come out first and then whats left has to earn before your original ammount reaches what you thought you had put in the pot.He will be alright jack but you may have to wait a few years before it starts earning.Beware thieves wear suits and speak correctly these days,its just been said trust no one and whatever you do keep a check on its performance and dont tie it up for a long period,you dont know whats around the corner.It appears classic motor bikes are a safe bet but you have to be knowledgable before you buy tread with care. I agree with these comments, tread warily Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.