Will M
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Your best bet is to put as much away as you can into your bank account, and do not be tempted to spend it.
I would not go into the investment funds in the short term, but possibly in the longer term. |
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cuddles_gb
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Nothing is guaranteed - read the small print VERY carefully. Your best bet is to put it in a savings account with a decent interest rate and that requires BOTH SIGNATURES to get any money out - shop around - and set your current accounts to feed into it a regular amount every month/week (depending on when you get paid). HOWEVER - make sure you have it agreed in writing what happens if you split up!!! I know you think it won't happen, but no-one can foresee the future, it happens more times that you like to think. |
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Master Tong
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You both are young. Given the 2 options you given me, #2 would make the most since. He is guarenteed o get back what you put in and with bonuses. 5 years from now you will he glad you chose #2. |
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Al Inshearah
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Place all your money on Ruby Mare which is running in the 3:30 at Newmarket
Edit:
Ruby Mare rompped in at 5/2. I made a packet (paid for a holiday at least) |
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flying charlie
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Fill up the bank account, control your outgoings and shop around. There's nothing wrong with haggling when you do your shopping. Also cut down on electricity usage and magazines, bring your own sandwiches to work and you'll find that you've saved a great deal. Its worthwhile as in the end you have a house to be proud of. |
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Erin S
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I would be concerned about any investment they are telling you is guaranteed to pay you back. Who guarantees it? Is it government bonds? Anyway, talk to a financial advisor at your bank. There are a lot of good options for investing money, there are short term CDs and bonds as well as high interest money market accounts. Just do your homework and find the option that works the best for you. |
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5yellowchips
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dont do garanteed capital bonds, much better 2 buy an ETF on the open market |
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waggy_33
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Stay away from Life Insurance, you take the risk they get the reward. You should be able to find a fund that does not take a lot of risk.
Or you could put as much as possible into an IRA. Yo can withdraw $10,000 each from an IRA penalty free to pay for a primary residence. Yo could also put money in the employers 401k and, if the plan allows, borrow one half of the account up to $50,000 to pay for the house and then pay yourself back over a twenty year period. |
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Frosty
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Save it in the bank and just make sure its hard for you to touch it. It could take you less than 5 years to save enough for your house anyway and the money will be there waiting for you. Putting such a large amount of cash into something that is fixed for 5 years is a big thing for somebody young and just started out. Start with the house, then invest next. |
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cmeduck
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Here's what you do. Go find the wealthiest person you know and ask them for a referal to the wealthiest person they know, and ask them which mutual fund they would buy, and put as much money as you can in that. |
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Dr Dee
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Consult a financial advisor, who will device a plan according to your requirements. |
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muncie birder
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Read Cuddles answer very carefully. She has given you the very best advice. |
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nai
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why not buy premium bonds, great way of saving, lump sum or monthly amount and every £1 is like a lottery ticket to monthly draw up to £1 million! no risk involved either. |
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vegas_iwish
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either invest normally in stocks, bonds & mutual funds or forget it. No life company; annuities or any other scams/systems. |
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Cheryl S
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Instead of opening up a regular bank account - go for a higher savings yield - try ING Direct www.ingdirect.com or HSBC www.hsbc.com they both pay over 5% interest right now.
If you decide to invest in the stock market - make sure its money you can lose. Investing is risky - but also rewarding. Invest in companys you know - open your fridge - open your cupboards - buy those companies you shop at; purchase their goods etc. |
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Ian :-)
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I invested in a low risk tax free capitalgrowth system called Maxnet. I was not sure at first as it looked a bit 'to good to be true' but it has made me a lot of money. I put £1000 into it in January this year and it has returned me £4,150 in twelve months. I have paid £1,450 in fees (up front) so my real return is £2,700 profit.
I am wishing that I had put £5000 in as that would have returned 5x what I got for the same fee's.
Still there is always next year.
Have a look at their website, its worth a punt and the office staff are very helpful. |
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Bouncer
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Make a plan for savings, agree to put away a certain amount each pay. Stay away from insurance companies, use a financial company banks are ok until you get some money put away, then find a better place for it. |
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JOSH. B
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Dear investor,
I know most of us have been there and I very well know the dilema you are in. I was there once but now Iam out of it.
You can open any type of account, some accounts offer a rate of 5% but it's not tax free. Putting your money in a hedge fund can make you some money, but it can as well reduce your deposits greatly.
The best way that helped me and my wife get out of that dilema was to try and make more money instead of trying to keep the little we had
.
Remember, the money you put in the bank may generate 5% interest per annum but you will pay more 15% APR for some banks to borrow the same money.
After realising that, I tried searching for money making opportunities that did not require alot of initial capital, after alot of research, I came across some great home-based online business opportunities which have changed our lives.
I have put some of the great links below if you are interested.
all the best. |
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dn_dox
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I took mine to the casino and gambled it worked. now its under my bed shhhhhhh don tell ma room mate she will nik it.. |
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Robert H
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Two pieces of advice from me!
Firstly, I would get a savings account, and commit to saving X amount per month. There are some accounts (called regular savers) which ask you to pay in by standing order on a monthly basis over 12 months. These pay the interest at the end of 12 months, at higher interest rates (Barclays have one at 10% I believe, Alliance & Leicester for certain have one at 12%) than you will get elsewhere. The proviso is that if you touch the money before the account 'matures' you either lose the interest, or it's reduced to a minimal amount. So it's not the account for everyone! But it does provide an incentive to save regularly and not touch the money, with a nice sum of interest at the end!
Secondly, consult a financial adviser - they are best placed to advise you on things like Funds, ISAs, and later mortgages and that kinda thing.
Good luck! |
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