Investing money.

[daveeeeee]

I've been lucky enough to come into some money, i've never had this much money before so dont know what to do with it! any words of wisdom, i want to invest it so that i when i finish uni i'll have quite a lump sum to play with.

the amount i have is £7000 i'm thinking on putting £6000 into a high intrest savers account and putting £1000 into stocks and shares??

what do you think?

 

[frank]

high interest account ?? there,s no such thing any more is there dave
gold ftw

 

[daveeeeee]

high interest account ?? there,s no such thing any more is there dave
gold ftw

true but i mean highest interest available, which at the moment is very low, but seeing as this is a long term investment, looking at 4 years a variable rate should rise, i want the money to be secure tho, so unfortunatly i'm going to have to make do with the low interest "high interest" savers accounts.

 

[k6pfs]

true but i mean highest interest available, which at the moment is very low, but seeing as this is a long term investment, looking at 4 years a variable rate should rise, i want the money to be secure tho, so unfortunatly i'm going to have to make do with the low interest "high interest" savers accounts.

I'd put the money into Post office bonds!

 

[MicraFish]

Yeah definitely PO Bonds. I would stay away from the stock market still at the moment though - it's still not looking pretty! Cash ISAs and Bonds are the way forward deffo

 

[1.3GX]

post office ftw

 

[daveeeeee]

looking at the long term tho, shares in banks may not be as bad as it sounds, before the economic crises bank share where very high, as a long term investment i think that when the economy picks up again the banks share price will rise so i think that i will kick myself if i dont buy them while there low, altough i agree that bank shares are a little too risky atm as the economy doesnt look like its going to pick up until 2011ish and thats not a dead cert, the stock market gets interesting when we hit rock bottom, as the only way is up.

i've seen better cash ica's than the poet office? or am i looking in the wrong place?

 

[Craig]

Try either a fixed-term bond or a government bond, these are fairly decent. It also may be worth putting it into a FTSE-based investment as that will rise in the next 10 years, big question is is whether we are at the bottom or not.

Also bank shares a sound (IMO) long-term investment.

Craig

 

[Arnold]

Some ISA's offer good rates, however you can't dump lump sums in them. You have to let them build up over time. Other ones allow you to chuck loads in, but the interest rates are lower. You may also have to pay a fee to withdraw money from them.

I have one which pays 10% interest but only at the end of 12 months, so if you take any money out at all, that drops down to 1%

I'd avoid investing in stocks unless you really know what your doing in these turbulent times.

 

[Antony]

buy shares in halfords. i had £985 in shares with them 4 years ago, they are now worth £1800+

halfords allways bucks trends with economical downturns (its been through plenty of them in its 102year history) but what happens is people, rather than buying new cars, tend to keep their old ones and fix them up (with parts from halfords) and buy a bike for short journeys (from halfords)
this christmas was halfords busiest christmas for 6 years for cycle sales, they have a share of 80% of the cycling market and (since motorworld collapsed) 90% share in the car accesories market.

after the success of the olympic cylcing team (all on halfords off the shelf 'chris boardman' bikes that are made exclusively for halfords) cycling has taken off big style and will only get better now that Halfords Bikehut sponsors the british cycling School and will also sponsor the Velodrome in the London 2012 olympic park.

i havent regretted it and i have some money saved in halfords shares that is growing and growing and shows no signs of slowing.

in fact since november 2008 halfords has built 10 new stores accross the UK, 2 new stores in prague czeck republic and refurbed and refreshed a further 150 stores out of the total 490 nationwide.
if theres no money in it how can they expand so rapidly?

 

[curtis]

Or buy GE shares....they were at £38 a share when i first started buying (through my own company ge aviation)
Now they are at £10 a share as GE sold GE Capital and had a really bad week in the markets, they are starting to go up again now

 

[Maccy]

All on black

 

[Arnold]

All on black

LOL that's probably what i'd do!

 

[daveeeeee]

barclays shares rose 24% today! was a pretty good day for the banks, i'm going to keep an eye on them for a few weeks and then when there low again i'm gonna buy will spread the money across a few of the big banks.

2012 will be an interesting time for the stock market with the olympics etc

 

[capnmchl]

Gold

or premium bonds. With £4k, you'll win quite a lot.

 

[wgc_daz]

barclays shares rose 24% today! was a pretty good day for the banks, i'm going to keep an eye on them for a few weeks and then when there low again i'm gonna buy will spread the money across a few of the big banks.

2012 will be an interesting time for the stock market with the olympics etc

and the economy will be getting back together..the company i work for the shares were at 300.52 in 2007 now there 8.2 so im injecting £££££

 

[richj]

check out premium bonds:
http://www.nsandi.com/products/pb/index.jsp

 

[mihtymicra]

put it under your matteras (lol)