Crosswords0 min ago
Investing some money.
3 Answers
I'm looking to stick away �2000 for a couple of years, what is the best way to invest it with a guaranteed return and zero risk? Any info appreciated.
Answers
Best Answer
No best answer has yet been selected by styley. 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.try comparison sites like moneysupermarket.com
This throws up the following:
http://www.moneysupermarket.com/SavingsP/Savin gsResults.asp?Results=4&InvestmentAmount=2000& intProducts=1
However if you are a taxpayer the 7.1% rate would fall to 5.5% net so you would be better with an ISA paying ovr 6% tax free.
But with �2000 even with a 7% tax free interest rate you'd only get around �300 compound interest over the full 2years.
If you have a mortgage I'd pay �2000 off that
This throws up the following:
http://www.moneysupermarket.com/SavingsP/Savin gsResults.asp?Results=4&InvestmentAmount=2000& intProducts=1
However if you are a taxpayer the 7.1% rate would fall to 5.5% net so you would be better with an ISA paying ovr 6% tax free.
But with �2000 even with a 7% tax free interest rate you'd only get around �300 compound interest over the full 2years.
If you have a mortgage I'd pay �2000 off that
If you're a taxpayer, I'd opt for the best Cash ISA you can find. If you've already used up this year's allocation, building societies are currently offering a number of good interest deals with one and two year savings bonds.
As well as the previous site mentioned you can also check out www/moneysavingexpert.com
As well as the previous site mentioned you can also check out www/moneysavingexpert.com
If you want a very low risk investment you should do mutual funds. Energy mutual funds have provided a good sector fund even during this worsening ecomony.
http://www.amfi.com/types/energy-mutual-funds
http://www.sec.gov/investor/pubs/inwsmf.htm
http://www.amfi.com/types/energy-mutual-funds
http://www.sec.gov/investor/pubs/inwsmf.htm