Technology2 mins ago
Best way to invest 500k
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Would anyone happen to know the best way to invest around 500k? At the moment it is just sat in bank accounts not doing much at all but need something safe to invest it in.
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For more on marking an answer as the "Best Answer", please visit our FAQ.Go to your bank, for that amount they will provide IFA appointment free of charge. They will ask loads of questions to get an idea of what you want and make suggestions. You will have to make the final decisions. Only after that will any fees come into play if you use them to do any investments for you.
If you have that amount of money sitting in bank accounts you are actually losing money, probably more than £5,000.00 annually than you are prepared to expend on professional advice on a one-off basis. The rate of inflation far exceeds most bank account interest rates. You really do need professional advice, they will assess your needs in conjunction with your aversion to risk. You can opt for fee based advice or commission based advice, to suit your circumstances. An IFA will also assess the investment of that sum in relation to any other assets you may hold, property, pension funds, future needs, IHT liabilities etc. I have never paid 1% to an IFA for advice!
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