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westlondon guy

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where do i put 120k

just sold my property and waiting for the crash if it will ever happen, currently got it stuck in ing paying 6% but will have to move it when the promotion end`s any ideas

Put 3K per year in an ISA - tax free then

Then put the rest in the best savings account you can find. Best one I've seen is with Rufflers bank, but I don't know anyone that

uses it.

ICICI is supposed to have good rates too.

I guess is depends on what risk level you are prepared to take!

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Good Morning from Devon,

Split up your money into £30000 chunks (liability covered by goverment if bank/building society goes to the wall) and then buy a high yield bond for a year from say Portman 5.35%, another chunk in Natwest high yield account, Isa's as well please. Do all management yourself to incur no charges. Look at gold very carefully if it comes down from its recent hike, buy £5000 to cover on any large upside that may happen.

Remember do not use any of the capital or interest earned. Live only off your salary. And wait for events to happen.

Many of the posters here think that a slump will happen in a obvious controlled way because this and that happens. Myself i think a crash happens because of sudden events no-one has factored for. That's why its called a crash. I have come to the conclusion that boom's go on for far longer than sensible and slumps arrive almost overnight.

"Its different this time" was the very words used by the boomsters before the dot-com bust.

And yeah, start reading the Economist.

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thanks for the replies guys , forgot to mention i was made redundant from my job 3 months ago so the intrest is all i have to live off at the moment , luckily i moved back in with my parents house. so no bills to pay.

i would need an account where i can get monthly intrest. for the moment anyway.

i have isa with a&l paying 5.25 to august next year. so my 6k allowance is used.

my mother is also selling her house now , and she will be coming out the deal with 850k , were the hell does she stick it ? 30k chunks is a lot of accounts :D

is she doing the right thing renting and waiting or should she buy stright away ,and knock the seller hard on the asking price ?

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my mother is also selling her house now , and she will be coming out the deal with 850k , were the hell does she stick it ? 30k chunks is a lot of accounts :D

is she doing the right thing renting and waiting or should she buy stright away ,and knock the seller hard on the asking price ?

She MUST seek professional financial advice.

fp

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Hi from Devon,

If your mother is coming out of a sale with that sort of money, she should consider strongly given age and health to start giving it away to her children to avoid Death duties. Seven years i believe before the tax man cannot touch it.

Look at it this way if you have to pay Inheritance Tax you obviously trust the tax man more than your family!!

Do not buy today, even if it seems resonable. It's got a great chance that in the near future it could be worth alot less.

I know it takes almost a full time job to manage that sort of money, but its worth it in the long run. From my own experiance half the population makes the money and the other half are their to try and take it away from you. There is no way to double your money except by folding it in half.

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Get your mum to stick 30K in premium bonds. The average rate of return is 2.95% but she is likely to win on a regular basis with the full amount.

As for the rest, follow Financial planners advice. Your Mum should be able to get 30K+ (after tax) in interest - plenty to afford somewhere decent to rent!

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thanks for the replies guys , forgot to mention i was made redundant from my job 3 months ago so the intrest is all i have to live off at the moment , luckily i moved back in with my parents house. so no bills to pay.

i would need an account where i can get monthly intrest. for the moment anyway.

i have isa with a&l paying 5.25 to august next year. so my 6k allowance is used.

my mother is also selling her house now , and she will be coming out the deal with 850k , were the hell does she stick it ? 30k chunks is a lot of accounts :D

is she doing the right thing renting and waiting or should she buy stright away ,and knock the seller hard on the asking price ?

Dont forget that real inflation if running at closer to 10% (money supply growth). If you are netting 5% then in terms of oevrall real spending power you are 5% worse off!

Diversify and put a large chunk into gold and/or gold shares.

J.

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  • 302 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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