Money to invest

[Cityfan100]

I have �28,000 to invest in a short to mid term project. I don't want to pay any more off my mortgage and do not want to invest in property overseas. Any ideas?

In my little fantasy world I'd like to double it in 12 months.

[BigMac]

You could consider Premium Bonds. You can invest up to �30,000 and you can easily get your money back (although not instantly). Any winnings are tax free and each month there are two �1m prizes and others ranging from �50 to �100k.

You do not receive any interest on your investment, though - just the chance to win.

Here is the prize breakdown from June:
Prize band Prize value Number of prizes

Higher value
7% of prize fund �1 million 2
�100,000 7
�50,000 13
�25,000 26
�10,000 66
�5,000 133
Medium value
6% of prize fund �1,000 1,825
�500 5,475
Lower value
87% of prize fund �100 41,882
�50 1,239,935

Total value �76.07 million 1,289,364

Otherwise, put it all on Laughing Boy in the 3.30 at Ascot....

[WendyS]

Quite honestly, with the stockmarket in its current volatile situation I think your options are pretty limited, and the thought of doubling your investment in 12 months is a fantasy. If you're talking of 12 months, I call that a very short-term investment and apart from premium bonds, the only other option is the highest savings account you can find. I suppose you could always buy stock from some cheapo warehouse and run week-end car boot sales but I'm not sure how much profit that would make you, bearing in mind that the weather changes in early autumn and outdoor trading of that type often comes to an end.