News8 mins ago
invest
2 Answers
my pal has 10k to invest
for monthly income
your ideas please
for monthly income
your ideas please
Answers
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Well premium bonds are quite fun ... you always win a certain amount with that many, your capital stays there (although of course does not rise with inflation) and there is always the chance of a big prize. You can re-invest the prizes if you want which is the same as interest. But to play it safe you could go for monthly income bonds from National Savings and Investments.
If you need the income you may have some months with not much to eat with premium bonds.
Birmingham Midshires have a good new 1 yr bond if you're sure you won't need the money, and the AER is the same if you take monthly income.
Your tax rate makes a difference, some National savings are free of tax, which make tham good for high rate payers but uncompetitve if you don't pay tax
An Isa also gives tax free interest, you may be able to find one that pays monthly interest. If you can leave the interest in then the interest on that (next year) is tax free too.
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