£9000 - how should I invest this?

Guest2 · 8 Jan 2014 at 23:08

How old are you?

I traveled for a year on 10k for 9 months and its the best thing I have ever done (apart from uni)

Life is for living

edit - I see from above re profile you are 26. If you have not already I suggest you go and see the world (on 10k I did thailand (and laos) 3 months, singapore a few days, oz 2 n half months, nz 1 n half month, fiji 3 weeks, USA 1 month

Pawnless Endgame · 8 Jan 2014 at 23:18

A few mentions of premium bonds here, but I personally don't recommend it. £500 over 5 years, not a sniff.

Redz' comment made me laugh - open 2 TSB accounts @ 3% then set them both up on direct debit against each other. Genius, probably even genuine, but it sounded funny reading it out to myself.

Theophany · 8 Jan 2014 at 23:32

itchy said:
Sorry to say £9k is not worth an investment.

Save abit more and buy a property and rent it out, only thing worth doing at the moment with interest rates being so low!

Wait a sec, let me get this straight:

£9k is not enough.
OP needs to save more.
OP then needs to buy a property and rent it out.

So wtf is OP supposed to do with the £9k whilst they continue to save, especially "with interest rates being so low."

What is this, ****ing amateur hour? :/ We need to start banning finance threads as well as medical threads...

Theophany · 8 Jan 2014 at 23:38

Moses said:
Well, you're in the house... so possibly.

The_Abyss · 8 Jan 2014 at 23:48

If you're going to take the money out and spend it in a year on such as essential item as a house deposit then you can't really take any significant risk. Only consider an ISA if the return cannot be bettered by a normal taxable cash account based on your personal rate of income tax.

Personally, I wouldn't consider P2P investment for this short period of time. It can take time to get money matched to loans, and the cost to recall the money from most P2P lenders really knocks down the rate over the short term.

Consider First Direct's 6% regular saver for the monthly savings.

Rossmac · 9 Jan 2014 at 01:29

sandy10 said:
Casino - £9,000 on red or black

Just under a 50% chance of immediately doubling your investment in 30 seconds

Superb opportunity not to be dismissed!

Just so you know, it's not 50/50.

In case it hasn't been pointed out to you numerous... times.... already...

Jegethy · 9 Jan 2014 at 01:39

Invest it all in some fluctuating cryptocurrencies and hope for the best.

Simon · 9 Jan 2014 at 02:14

Stocks and share ISA and spread it across some safe bets. Shell,Vodafone, etc. or go for a FTSE tracker.

2013 return on FTSE100 was 14%. That would have beaten many investment options

Redz · 9 Jan 2014 at 02:39

Monserrat said:
Redz' comment made me laugh - open 2 TSB accounts @ 3% then set them both up on direct debit against each other. Genius, probably even genuine, but it sounded funny reading it out to myself.

It is genuine. Check moneysavingexpert.com site lots of people used to do the same trick when they were paying 5% on Lloyds TSB vantage accounts, not many people seem to think 3% is worth the trouble though.

Angilion · 9 Jan 2014 at 02:55

Monserrat said:
A few mentions of premium bonds here, but I personally don't recommend it. £500 over 5 years, not a sniff.

I'm not sure that premium bonds can properly be called an investment. It's better than stuffing notes under your mattress, but it will probably give you the same return.

Redz' comment made me laugh - open 2 TSB accounts @ 3% then set them both up on direct debit against each other. Genius, probably even genuine, but it sounded funny reading it out to myself.

I think TSB would notice and prevent it. They certainly should.

Elixir · 9 Jan 2014 at 03:48

Moses said:
It's not 50/50.

BombayMix said:
You forgot about 0 and double 0, they not red or black.

Rossmac said:
Just so you know, it's not 50/50.

Don't worry sandy10, I noticed the "just under" even if no-one else did.

pitchfork · 9 Jan 2014 at 09:02

Buy vintage guitars, they always gain value and never lose it. It may however be difficult to cash in your investment when the time comes however.

BombayMix · 9 Jan 2014 at 09:58

Mr Badger said:
What, so if it doesn't come up red or black you get your money back? Sweet!

Of course not, you lose your money. :eek:

Peerzy · 9 Jan 2014 at 10:25

Angilion said:
I think TSB would notice and prevent it. They certainly should.

I opened 3 of these accounts in a branch at the same time, the guy knew why I was doing it and said he'd had a few others do the exact same thing that week.

It gives me 3% on £15k, you can also get 3% on £20k with the 123 CA (minus £2 a month for the fee) and 5% on £2.5k with Nationwide.

For short term investment I'd be using the above accounts (interestingly, all are current accounts and not actually savings accounts). Anything longer than a year I'd be filling up my ISA allowance.

-Ad- · 9 Jan 2014 at 10:38

Simon said:
Stocks and share ISA and spread it across some safe bets. Shell,Vodafone, etc. or go for a FTSE tracker.

2013 return on FTSE100 was 14%. That would have beaten many investment options

That.

But my nicely chosen UK smaller companies fund is up 10% since I invested 4 weeks ago and has gone up over 50% this last year. I know all the risks, but it's still awesome.

Redgie · 9 Jan 2014 at 10:39

Another vote here for traveling or property in the long term.

In the short term, there are no "magic" investments where you're guaranteed 10% interest with no risk. Stick it in an ISA till you have enough to approach a proper financial advisor and have it invested for you (Or buy property to live in or rent out, and start building to your future).

jack.mitchell · 9 Jan 2014 at 11:06

Redgie said:
Another vote here for traveling or property in the long term.

In the short term, there are no "magic" investments where you're guaranteed 10% interest with no risk. Stick it in an ISA till you have enough to approach a proper financial advisor and have it invested for you (Or buy property to live in or rent out, and start building to your future).

How much would you say is enough for a "proper" financial advisor?

Indie · 9 Jan 2014 at 12:28

schizo said:
Must have had a friend round

Some posts more recently have been similar... I don't know whats going on!

Azza · 9 Jan 2014 at 13:17

Go to https://www.charles-stanley-direct.co.uk open up a S&S ISA, search for Vanguard Lifestrategy choose the weighting you're most comfortable with and either acc or inc units. Buy £9000 worth of units and forget about it for 30 years. Add to it when you can afford to.

-Ad- · 9 Jan 2014 at 13:55

jack.mitchell said:
How much would you say is enough for a "proper" financial advisor?

0

You can research yourself and choose your own portfolio. Paying someone to make guesses on where to your money is a silly idea unless youn have significant funds to invest. We're not talking tens of thousands here.

It's your money, take some pride in understanding how to look after it properly!