Investments - Strategies, Ideas, Options & advice

[williamalex1]

I recently downsized and have approximately 80k just sitting in the bank.
Where's the safest/best place to put it to get the highest monthly interest, and still have access if needed.

 

[RichA]

I recently downsized and have approximately 80k just sitting in the bank.
Where's the safest/best place to put it to get the highest monthly interest, and still have access if needed.

Another member put me onto Flagstone, which lets me keep it the highest interest rate instant access accounts without having to actually keep opening accounts. It's all done through their dashboard.

 

[Mudball]

Another member put me onto Flagstone, which lets me keep it the highest interest rate instant access accounts without having to actually keep opening accounts. It's all done through their dashboard.

very interesting, will check it out.. I think Hargreaves also runs a similar investment platform, but I find HL very inefficient and some outdated tech.

 

[Fade and Die]

very interesting, will check it out.. I think Hargreaves also runs a similar investment platform, but I find HL very inefficient and some outdated tech.

If you are looking for something north of 10% on your return I wouldn't bother. My Quilter ISA has returned 14% over the last 12 months, this is with a risk "Profile" of 7, there are higher and lower profiles. I also have a feeder account called a Collective Investment account with Quilter, I put money into it when my ISA allowance has been used up, It still returns the same but is subject to tax.

Or Crypto.... Its Looking better than it has for years since the US election, also including Elon in his administration will only help. Although it is extremely volatile. My XRP went up 27% in the last week, but it could lose as much next week! If you day trade it at the moment you can make good money.

 

[Mudball]

anything under 10 is not that great. My index funds have had similar with you. My direct stocks have done much better. Tesla is on a breakout due to election, but hopefully it will continue. Unfortunately sold Nvidia a before it split as it had returned 80%.

however, as i get over the hill, i can see how gilts can make up 10-20% of portfolio - providing a safety blanket. It is just a different asset class. so is interesting.

If you are looking for something north of 10% on your return I wouldn't bother. My Quilter ISA has returned 14% over the last 12 months, this is with a risk "Profile" of 7, there are higher and lower profiles. I also have a feeder account called a Collective Investment account with Quilter, I put money into it when my ISA allowance has been used up, It still returns the same but is subject to tax.

Or Crypto.... Its Looking better than it has for years since the US election, also including Elon in his administration will only help. Although it is extremely volatile. My XRP went up 27% in the last week, but it could lose as much next week! If you day trade it at the moment you can make good money.

I did dabble in them, but i find them too unpredictable and manipulated. At some point (with BTC <25k), i had about 10k worth of coins but it is now some dust in a wallet that i dont see. I probably paid about 2-3k for it during the craze. I think i still have have some Doge/Shibu/IOTA lying around. In the scheme of things, it is not an asset class I will return to in a hurry.

 

[Springveldt]

I recently downsized and have approximately 80k just sitting in the bank.
Where's the safest/best place to put it to get the highest monthly interest, and still have access if needed.

If you haven't maxed out your ISA for this year then make sure you use the £20K limit and stick it in the best one you can find. I think Trading212 do a cash ISA that is instant access and is giving over 5% just now but it's app only which might scare a few people off. If you're married then the wife will have a £20K limit as well so use that.

Then other than that you can just stick it in a high savings account from a high street bank, assuming you want to keep it all as cash. If you don't need access to all of it this year then you could have a look at premium bonds.

Moneysavingexpert usually has a list of the best paying instant access ISA's.

 

[hambugerpete]

If you haven't maxed out your ISA for this year then make sure you use the £20K limit and stick it in the best one you can find. I think Trading212 do a cash ISA that is instant access and is giving over 5% just now but it's app only which might scare a few people off. If you're married then the wife will have a £20K limit as well so use that.

Then other than that you can just stick it in a high savings account from a high street bank, assuming you want to keep it all as cash. If you don't need access to all of it this year then you could have a look at premium bonds.

Moneysavingexpert usually has a list of the best paying instant access ISA's.

Yes 212 is probably the best cash ISA around. Paying 5.17% at the moment with interest paid daily. It's also a flexible one so you can pay back in anything you take out with out affecting your allowance for the year

 

[PNWokingham]

post budget pension summary from James, who i think is one of the best of the financial youtubers

 

[williamalex1]

Yes 212 is probably the best cash ISA around. Paying 5.17% at the moment with interest paid daily. It's also a flexible one so you can pay back in anything you take out with out affecting your allowance for the year

That sounds promising, is it risk free ?

 

[Bunkermagnet]

That sounds promising, is it risk free ?

Nothing is risk free. and the higher the returns the more risk.

 

[hambugerpete]

Nothing is risk free. and the higher the returns the more risk.

Standard FSCS up to 85k comp. He has 80.... And can only put 20 in this year . So yes as good as risk free as you could get, short of putting it under your mattress.

 

[hambugerpete]

That sounds promising, is it risk free ?

Is just a cash ISA, so you get the standard FSCS guarantees

 

[Bunkermagnet]

Standard FSCS up to 85k comp. He has 80.... And can only put 20 in this year . So yes as good as risk free as you could get, short of putting it under your mattress.

Sorry, didnt notice it was an ISA, thought the chat was about stocks etc.

 

[williamalex1]

Sorry, didnt notice it was an ISA, thought the chat was about stocks etc.

I took out an ISA with Saga.
But opened savings account with Trading 212 deposited 20 k, but I don't know how to get it started.
Any ideas

 

[hambugerpete]

I took out an ISA with Saga.
But opened savings account with Trading 212 deposited 20 k, but I don't know how to get it started.
Any ideas

Giving up a couple of hundred with the saga rates.
What are you hoping to do with the 20k in 212. ?

 

[williamalex1]

Giving up a couple of hundred with the saga rates.
What are you hoping to do with the 20k in 212. ?

I'll see how it pans out for a week or so, then make a decision, to invest or just stick to the savings account.

 

[hambugerpete]

I'll see how it pans out for a week or so, then make a decision, to invest or just stick to the savings account.

The stock market has averaged about 10% return per year although also factor in inflation, that's average so, some years more and some a lot less even negative. I've got most of my long term savings in ETFs that track the world market and also another that just does the USA. Everything auto re invests. Emergency cash is in the 212 ISA.
With inflation even 5% return on cash is more like 2