Steven
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How much risk are you prepared to take with that money? How long do you want to invest for?
If you want to make sure you still have that £2 grand plus a bit of interest and are willing to release that money for 5 years then look at the government back National Savings schemes.
If you are into high risk where you could lose the lot if your timing is wrong but the returns are high then consider some medium term dealing in stocks and shares.
Very high risk are what is called HYIP. You can double your money in a week or lose the lot if the fund you invest in shuts down without notice and the owner runs off with your cash.
Explore your feelings on my first two questions then do some research based on your answers. |
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devonlad06
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invest on the ftse 100!!!! |
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Hibee
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Disregard any advice you get from this question, as you have not given enough information for an informed judgement to be made.
Might you need urgent access to the money, for instance, or can it safely be locked away for up to 5 years? |
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Dr
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Try an ISA (Individual Savings Account). They are tax-free and you can get at your money whenever you want. With my ISA, I could deposit £7,000 in the first year and up to £3,000 in all other tax years. The current rate of interest (I think) is 4.500%. Mine is with Alliance and Leicester. Have a look around and see which one is right for you.
Best of luck! |
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Ravi A
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I suggest keeping your money safe in the bank.
The markets have taken a massive nose-dive recently- which means a massive loss for you.
Keep it in the bank- and DO NOT SPEND IT! :D |
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blue dolphin
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I would put it in an ISA account, your bank will help you with that. |
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DARLENE C
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go to the bank and ask to speak to a financial adviser.
you will have interview and will be given all the information on what is the best type investment for your money.
it would be a sort of ISA which is tax free, however this type investment is a long term one for you to get a return on it.
you however have review of the Isa every year. |
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monkey
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If you fancy doing something a little riskier than keeping your money in a building society account why not invest your money in stocks and shares - a FTSE 100 tracker fund may be a good idea.
Alternatively the average return on premium bonds is ok and you also stand the chance of winning the big one - or nothing.
Also have a think about if you'll need to get your hands on the money soon. Investing in stocks and shares should be for at least 3 - 5 years. |
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jk_thegooner
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Q: Do you work and pay tax? If yes.
A: Put it into a Cash-ISA savings account
If no
A: Put it into a high interest deposit account. Online accounts are better, but you could use a building society account.
You cannot invest in higher risk investments such as Unit Trusts or OEIC's yet, but you can buy shares. Do not invest in these unless you can afford to loose some or even all of your money. Most investment contracts are for five years or more, so do not invest unless you do not need your money. |
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superstar
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The best thing you should do is just keep it in bank in a savings account, if you have seen the markets recently i wouldn't invest in anything! |
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the d
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I would stick with a certificate of depost, 6 month or 1 year, generally paying around 5% now, There is virtually no risk. |
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Retirement Indicator
 |
Some Crazy Answers! You should invest it in the stock market! You should also know when to take it out! If you do both those things it could be all you need to retire. Go to: Just ManageIt.com and find out how easy this is. Great to be your age, enjoy! |
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CyEngin
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At your age, a fixed income investment is advisable. If you don't want to use it immediately, I would suggest buying a CD (certificate of deposit) or investing in China economy through a fund (I cant tell you which one otherwise I might break the SEC rules). Search the largest ones though... |
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Jessica
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Save it for uni if you're planning on going...you'll need it! |
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PATRICK
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invest in me |
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