Investment options?

[digisatman]

Hi all,

I am 50 and have £30,000 to invest, and can tie it up for 5 years, I can put it in a savings account and earn about 4% intrest/year. But I am looking to get a better return, please dont advise me to buy another merc!

Everyone please give me some guidance

Thanks,

digi

 

[Geezer]

Hi all,

I am 50 and have £30,000 to invest, and can tie it up for 5 years, I can put it in a savings account and earn about 4% intrest/year. But I am looking to get a better return, please dont advise me to buy another merc!

Everyone please give me some guidance

Thanks,

digi

Northern Rock Silver Savers (you qualify!) will give you 6.3% and there is a monthly interest option.

If you are a bit of a gambler you could invest it in Premium Bonds. They pay out prize money equalling 4% so, in theory, that is what you'll get each year and of course it is tax free. On the other hand, you may get less than that or win a million quid!

 

[shadowninja]

For me, my Premium Bonds have an annual return of 1%...

I'm holding out for the million.

ISAs and high interest savings accounts are the usual safe options. Could try share trading online... could lose the lot; could turn £30k into £1m.

 

[roadhog]

50? £30k? Spend it! You might not get another chance