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Hi,
I have 100k in cash and currently its just sat in a bank account (1.9%) doing nothing.
What should I do to invest it ? Im looking for returns above 5% and fairly low risk.
I have no debts and am fairly secure etc.
Thanks.
I'm sure a lot of people here would recommend ING Direct to you. They will give you a 4.3% return on it.
You could get more than 5% in a term/bond, but you would have to tie the money up for at least a couple of years. Are you willing to do that? You also need to think about whether you want monthly/quarterly income from it, or are you just looking to increase its capital value?
In message , 127.0.0.1 writes
Have you got a mortgage? If you pay it off, or change to an offset, the savings are equivalent to investing the money at your mortgage interest rate, tax free.
Unless it's a BTL mortgage, in which case the interest saved is in effect taxed at your marginal rate for non-savings income.
Why this particular IFA ? Do you have any connection with them ?
Daytona
True but it doesnt stop at a BTL. it is the use of the borrowed money that determines if you can obtain tax relief so other business reasons couuld also allow the interest to be claimed against tax.
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