5k Cash Investment
- Thread starter Arsonist
- Start date
i know people always balk when this is suggested but you could buy some gold.
i would say the risk is small - the downside is pretty small, although it has been hovering around the same level for the last few years.
bit riskier - palladium. 'should' go up as supplies are running out and the trouble with russia may cause a supply shock in the next year or so.
but for safety there isn't really a better option than a low interest savings account.
i would say the risk is small - the downside is pretty small, although it has been hovering around the same level for the last few years.
bit riskier - palladium. 'should' go up as supplies are running out and the trouble with russia may cause a supply shock in the next year or so.
but for safety there isn't really a better option than a low interest savings account.
Associate
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- 18 Oct 2002
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- Northumberland
Try p2p lending, Assetz Capital are probably one of the best.
If I had 5k spare as a single man I'd self manage shares in probably three different ftse 250 or AIM companies. High risk, potential for big gains or losses. Exciting but do your own research.
In current circumstances I'd stick it in premium bonds. The payout is low but you're trading the few extra quid you'd get in a savings account for the excitement of maybe getting a win.
In current circumstances I'd stick it in premium bonds. The payout is low but you're trading the few extra quid you'd get in a savings account for the excitement of maybe getting a win.
Except when you don't win. You effectively loose money.
The only way the OP will lose money is if he doesn't have average lucky - check out the calculations.
http://www.moneysavingexpert.com/savings/premium-bonds-calculator/
Considering he's just come into £5k for what ever reason then that's rather lucky, so it's safe to assume he has more than average luck. He's basically guaranteed to win! He can't lose!
No need to be so conservative then, just gamble it all on a single number at the roulette table
Unless you're saying he's guranteed to win a million immediately on premium bonds, in which case your advice is the sounder!
Soldato
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- 16 Aug 2009
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Always pay off your debts first. The interest you pay will almost always be more than the interest you receive.
OP would lose out compared with just sticking it in an ISA or high interest account.
Don't know your situation, but I'd say bank it and keep it there as a backup in case something bad happens, or for use towards a mortgage deposit if you think you may buy a house in the next few years.
Soldato
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He says in the OP that his debts are 0% for a year and that he will likely pay them off in that year.