What is the best way to invest £5000? - Page 2

Titian · 05-01-2006, 10:26

Quote:

Originally posted by t020
Cheers for the help. I'm already maxed out on ISAs for the year though as I've put in the £3k limit for the year. Its with Leeds & Holbeck which I'd recommend as their interest rate is probably the best out there. I'm looking into savings bonds but their interest rates don't seem as high as you'd expect, all around 4%. Theres a new net bank, http://www.ingdirect.co.uk that offer 4.22% gross interest and thats instant access. They link it up to your current account so you can easily transfer funds. Theres also no charges or penalties. Sounds too good to be true, anyone with experiences of ING Direct? According to their site they only opened in the UK last month. Again, thanks for the ideas.

You can put more than 3k into isas, as long as the rest is in an investment isa so up to around £7k.

There are also reserve accounts which normally have the best rates the longer you choose to invest for.

Jake01 · 05-01-2006, 10:27

Quote:

Originally posted by Cyclone
My advice is to look at when the thread was started.
Sorry it's your first post, so you're forgiven. But the thread has been resurrected from the distance past of 2003, I doubt T020 still has his 5k sitting under his bed waiting to invest it. Welcome to the forum

Didn't notice the time of thread myself.... am I forgiven also? incidentally if you did have a few quid.... what would you do with it?.... besides spend it.

Titian · 05-01-2006, 10:30

I'm not bothered if I'm forgiven or not. Others may want to know.

JFKvsNixon · 05-01-2006, 10:33

Put the money chelsea to win the premier league.

kirky · 05-01-2006, 10:33

Quote:

Originally posted by t020
What is the best investment to make a small sum of around £5000 into something more substantial, without a high risk involved?

buy shares in sheffield united

Cyclone · 05-01-2006, 10:34

Quote:

Originally posted by bonny
I'm not bothered if I'm forgiven or not. Others may want to know.

they may, but addressing it to t020 is silly. Anyway, since you're not bothered you're not forgiven.

Personally i'd put it towards my 'next car fund'. So not really a long term investment, it'd just go in my savings account.

Titian · 05-01-2006, 10:35

Quote:

Originally posted by Cyclone
they may, but addressing it to t020 is silly. Anyway, since you're not bothered you're not forgiven.

Personally i'd put it towards my 'next car fund'. So not really a long term investment, it'd just go in my savings account.

ahh but how do you know I wasn't addressing the scenario??

PerlOfWisdom · 05-01-2006, 12:28

I'd spend half of it on beer and mucky women, and just waste the rest.

malton_s5 · 05-01-2006, 12:33

Quote:

Originally posted by kirky
buy shares in sheffield united

Kirky it says INVEST NOT BURN AWAY £5000

hmr44 · 05-01-2006, 12:49

I've got a good idea, you could take sunshine shopping

ToryCynic · 05-01-2006, 13:11

Of course this is useless to you now, but I have a savings account with the NS&I and another with the Nationwide (I amlgamated an HSBC account into an already-running NS&I). The NS&I pays a reasonable annual interest...

Yes, relatives with more substatntial amounts are big 'ING' fans...

GazB · 05-01-2006, 13:18

Not that I have vast experience in investing money, but I would make sure I cleared all personal debts (credit cards, personal loans etc) beforehand.

Then I'd start by investing the £3,000 maximum p.a in a mini cash ISA and go from there.

(More of a post to anyone in the same position, as I realise the thread was started donkeys ago

)

t020 · 05-01-2006, 22:51

Quote:

Originally posted by Cyclone
just getting the mortgage isn't the whole story, you have to make the monthly payments obviously. And I think T020 is still a student, so that wouldn't sound like a sensible plan unless he has the monthly income to cover the payments.

No I'm not, and haven't been for over 1 and a half years! I can't believe someone has dragged up this ancient thread.

t020 · 05-01-2006, 22:53

Quote:

Originally posted by Jake01
If you are too young to get a mortgage.... that says to me that you are under 18.... you are better investing in property any day.... save your money and anticipate your first buy. Visit some property auctions you will be surprised what you can buy as long as you can invest a lot of time and sweat.... you can make a killing if you decide to sell.

Mum and Dad could always do the buying.... based on trust but 5 grand is enough to ensure a mortgage.

Sorry if I got your age wrong.

No, I wasn't under 18, nor am I under 18 almost 2 years later..

The £5k was for an investment not for a mortgage. I have money elsewhere for that.

t020 · 05-01-2006, 22:56

Quote:

Originally posted by metalman
I seem to remember that t020 revealed he was in his mid-twenties on another thread.

So, three years down the line then t020, what did you do with it and did it work?

Indeed - I'm 24 this month. I stuck the £5k in a high interest account with First Direct - safe but no big rewards. Still not got a mortgage yet for non-financial reasons, but can envisage doing so this year, hopefully.

Dug · 06-01-2006, 14:13

So you'll have to move away from Eccelsall then?

Crayfish · 06-01-2006, 14:50

Could always fund my PhD studentship. In Hawaii, please.

A.B.Yaffle · 06-01-2006, 18:43

Quote:

Originally posted by Dug
So you'll have to move away from Eccelsall then?

That Def Leopard guy's house may still be for sale, that was near Ecclesall and I think it was going quite cheap too.

cloudybay · 06-01-2006, 18:45

Quote:

Originally posted by t020
Indeed - I'm 24 this month.

So wise, yet so young...................................

t020 · 06-01-2006, 19:52

Quote:

Originally posted by Patchy
That Def Leopard guy's house may still be for sale, that was near Ecclesall and I think it was going quite cheap too.

£2.4m I believe. Pocket money.