Quizzes & Puzzles36 mins ago
Short term investment ideas
10 Answers
A freind of mine has recently inherited �20k. As she does not immediately need to use this money she is looking for the most effective way of investing this money.
She does not currently own any property and, due being a student is probably not in a position to buy anything immediately, although, she would like to use the money eventually for a deposit on a flat.
She has no debts and is currently able to cover her living expenses.
Any ideas?
The investment would have to be relatively low-risk
Answers
Best Answer
No best answer has yet been selected by pigface. Once a best answer has been selected, it will be shown here.
For more on marking an answer as the "Best Answer", please visit our FAQ.check out http://www.fool.co.uk/.
You can post in the forums, they're pretty helpful.
Almost any investment involving equities (stocks & shares) involves risk, and often far more risk than the sales blurb indicates. I would advise her to stick to conventional savings accounts. For instance, she could put �3K of the �20Kinto a Building Society tax-free, non-equity, mini-ISA; and if the rules remain the same could put further lump sums of �3K per year into the same or similar ISAs in subsequent tax years. She could then put the remainder of the �20K into into an account like ING Direct or Sainsbury Bank, each of which each offer a reasonable interest rate (currently 5% gross) with immediate withdrawal, and next to no risk.
Related Questions
Sorry, we can't find any related questions. Try using the search bar at the top of the page to search for some keywords, or choose a topic and submit your own question.