Not worth doing anything really with that amount.
Possibly put in in a FTSE 250 tracker in an ISA wrapper. Most banks could sort that for him.
For a 25 year investment? That wouldn't be the best idea, the long term return is highly likely to be less than inflation.Premium bonds?
I'm getting 6% from first direct in one account. Limited to about max 300pounds deposit a month, so not going to do much, but better than nowt and only tied up for a year. But there are deals out there.you need to get it out of the bank you are just losing money each year otherwise.
Get some Gold mate.
Yeah but if you've got a lump sum that would be a useless place to have it.I'm getting 6% from first direct in one account. Limited to about max 300pounds deposit a month, so not going to do much, but better than nowt and only tied up for a year. But there are deals out there.
So stick with PLLK's advice then, it looks sound to me :-)Yeah but if you've got a lump sum that would be a useless place to have it.
Only the first 300 gets 6%
Next 300 gets 11/12th of 6%
Last 300 gets 1/12 of 6%
You end up getting very little and you e tied your money up.
It was more a response to a comment about not putting money in the bank rather than a lump sum investment. It's a useful tool for me, but I understand about how the interest works.Yeah but if you've got a lump sum that would be a useless place to have it.
Only the first 300 gets 6%
Next 300 gets 11/12th of 6%
Last 300 gets 1/12 of 6%
You end up getting very little and you e tied your money up.
First of all I know nothing about money at all, I have always slung it in the bank and just left it.
I left England about 15 years ago and left around £2300 pounds in my co-operative bank. I was going to use it for a rainy day when I return but decided that I should do something different with it.
Is it worth investing? Anything that can double my money over the years? Do I just leave it alone?
I'm willing to leave it alone for 25 years or so
As I said I know nothing much about money, so any weird terminology will go over my head
Should have done it a month ago and you'd have made that already.Convert into US dollars or SWiss Francs and hope for a Brexit and you should be able to make 10 - 20% when you convert back to sterling during the results. I just took out a short sterling position yesterday on the same basis - the bluemoon eu poll conviced me :-)
Should have done it a month ago and you'd have made that already.
Still, better to get in late than never I guess.
Spend it all on your better half, it will be repaid ten fold
Looking forward to the payback ;-)Whoever told you this taught you well.
Sure.Buy a Rolex with the box and papers you will just about find one with that much. In 25 years it will be worth miles more than sticking it in any investment.
@Zin 'messiah' Zimmer is the man to ask about fancy watches, but I'm sure he'd recommend a Patek Philippe rather than a tacky Rolex.Buy a Rolex with the box and papers you will just about find one with that much. In 25 years it will be worth miles more than sticking it in any investment.
@Zin 'messiah' Zimmer is the man to ask about fancy watches, but I'm sure he'd recommend a Patek Philippe rather than a tacky Rolex.