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R
Rookery
If I had some spare cash I'd buy the one thing that will always decrease in availability and so will always increase in value........
Land.
Land.
D
Daveshadowman
Well I need a new van ( transit custom in black would be nice )
C
Concrete guy
My first port of call for extra cash is Premium Bonds. It's like playing the lottery once a month with a load of free tickets.
I like the instant access if it's needed (get registered for on line stuff it's very quick these days).
I like the instant access if it's needed (get registered for on line stuff it's very quick these days).
H
hotrod
Couple of things to consider 1) no financial adviser is allowed to earn commission anymore so you should have no need for suspicion on that count, what that does mean however is that as they can no longer earn commission then you have to to pay a fee for their advice which depending on how much you have to invest can make it not worthwhile hence most decent financial advisers now will only consider clients with circa 50k plus. 2) everyone knows someone who has had a win on the premium bonds but the truth is the average person with the average luck (whatever that is) earns less than half a percent on premium bonds, fine for a few grand for the fun of having the chance of a win but still need to accept that if you leave it in their your capital is eroding and will not buy you as much when you come to spend it. Personally i would say if you don't want to see an adviser pop to the post office and ask for all the national savings leaflets as there are a lot better products available than prem bonds , they usually have an index linked savings bonds available which will keep your funds in line with inflation and tax free. Really depends on what the funds are for so if for example it's money for retirement despite all the REMOVED that the average joe comes out with you still cannot get better value than a decent pension, the taxman will actually give you money! And they are far more flexible than ever when you want to use the money in the future.
just my opinion as a financial adviser (for now!)
just my opinion as a financial adviser (for now!)
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H
hotrod
Sorry forgot to add personally I think the stock market is over inflated for the moment and agree with other posts that the right property or piece of land is still a safe bet, steer well clear of anything involving government debt I.e gilts at the mo also massive risk.
I wouldnt pee on a pension if it was on fire, my dad in law has been screwed over with his the other year, promised so much by the 'advisor' who obviously got his share of the hundreds of pounds a month he put into it over decades and he is getting back a fraction, and i mean a fraction of it every month.
I don't know anyone who has a good thing to say about private pensions, oh hang on, apart from the 'good' folk who sold them 😉 a bit like the 'good' folk who sold endowment mortgages and interest only mortgages, great buys, Who just so happen to usually be one and the same 'good 'folk 😉
I don't know anyone who has a good thing to say about private pensions, oh hang on, apart from the 'good' folk who sold them 😉 a bit like the 'good' folk who sold endowment mortgages and interest only mortgages, great buys, Who just so happen to usually be one and the same 'good 'folk 😉
I don't have a pension, sorted in other areas for retirement.
I look at it this way - If someone gave a you a lump sum of £100k, say when you are 25, would you walk into a bookies and place a bet that you will live to 65?
No, neither would I!!!
I look at it this way - If someone gave a you a lump sum of £100k, say when you are 25, would you walk into a bookies and place a bet that you will live to 65?
No, neither would I!!!
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You may like to invest in some shares in the banks, my guess it that they will be on the way up in the next few years.
Might look into house builders shares like barrats or Taylor wimpey or kier..... Still think premium bonds though. It really won't be a life changing sum so not enough to buy houses with. It's interesting to see what folks would spend their money on though. As for pensions... Biggest scam going... I only pay in because it is compulsory... If it wasn't I wouldn't. Reason being they ain't worth a jot to any one but the pensions companies. To get an income of £10k a year I would need a fund of £150k. that assumes that I can afford to live on £10k a year and I would last for 15years beyond retirement.... I'd rather put the £150k under the mattress and enjoy it for 5years beyond retiring and leave the rest to the kids....pensions for me are the biggest flipping scam going.
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