[Closed] What to do with £10k?

All on red.........

.....no wait on black,

Premium bonds

£8K on hookers, drugs and booze. Waste the other £2K.

New bike?

Buy Greek or Italian Bonds, that could possibly never fail

Already punching above my karma on premium bonds, won nearly as much as my sister who's got ten times as many!

bury it, make sure it's all used notes first though

Why not lend it to a charity for a year? You don't sound short of money, just short of ideas to make even more. Why not help some people, if only for a little while?

Put it into an ISA or some other high interest thingy and let it work for you
for a year

Lend it to Greece or Italy, I hear there are good returns to be had, almost 7%..

Failing that, a cash ISA

Invest in an Icelandic bank?

Yossarian, will look into that, at least for part of my stash, good call. This year's ISA allowance has been done, rates are pants. I've done the 'm0ney saving expert' bank account shuffle so many times none of them will give me their special 'introductory' rates any more although when it comes to buying a house I might be able to build my own out of bricks made from compacted bank junk mail...

Ha, Iceland's had enough of my money, addicted to the place, been there three years in a row.

Pork Bellies?

bonds? (not greek or itallian)

As some people have said above I would go for a fixed rate bond. RBS will give you 2.4% net for a year. given I only get 0.75% in my cash ISA think I probably should be moving some money around 🙁

xmas party for TJ so he doesn't have to worry about who's paying for it?

I hope you don't mind but i've forwarded a link to this thread to my uncle. He'll be in touch with some suggestions.

He's a Nigerian Prince don't you know!

pay pal gift to email in profile 😆 😉

I'd buy that old Shimano silent clutch LX hub that pops up on the classifieds now & again. Just for the shear hell of it. Yeah.

Yours by any chance? 🙂

For cash ISAs check out West Brom BS, think it's 3.07 I'm getting with what I've got squirrelled away in there but IIRC that rate is only available through m*neys*perm*rket. Will have a look at RBS ta.

You could try sticking it in gold/silver. The world's looking flaky enough that it will only go up in value over the time-scale you're considering.

you could get thousands of smarties for 10 grand 8)

santander have an e-saver account that i think is about 3.1%, and a savings account you can apply for in the bank thats about 5% but you need to leave it in there for a year

(note i do not work for santander, i just went in there and re-jigged all my old accounts a couple of weeks ago)

Get some Gold my friend. Try investing at Bullionvault - a really easy and secure way to invest in real gold - not paper gold.

It's possible that the Euro will collapse. At the very least it's going to fall in value big time. The pound is also being devalued massively with this quantative easing and high inflation.

Unlike money, gold can't be printed willy nilly. Gold is seen as a safe haven in times of uncertainty. That's why it's already risen so much in the last few years. I put 19k into Bullionvault gold this time last year. It's now valued at 25k - not a bad return for a year.

If I'd had put that amount into a bank then it would be worth probably still around 19k.

There is a risk of course like any investment that Gold could fall in value. But the uncertainty in the world economies does not point to that at the moment. People are looking for a safe haven in choppy waters ahead.

buy a bike say 2k got to be new. then sell raffle tickets to be able to win. must be a money maker just make sure you sell more tickets to cover the cost..

i will have 5 🙂

Buy shares in a race horse with a good track record.

Gold's not a bad bet, Silver is a better bet IMO.

Buy the house now?

Thankyou chaps and chapesses. BullionVault have a new customer, stashed the majority in there, gold and silver. Scarily easy and quick. May try to do something wholesome with the rest. I'd had a look at gold earlier in the year but I somehow missed BV, seemed like everywhere else was a bit more hassle.

BullionVault have a new customer, stashed the majority in there, gold and silver. Scarily easy and quick.

You took investment advice from an internet forum full of cyclists? Even after admitting you don't really know anything about finance?

You put the majority of your money in?

I am genuinely staggered. 🙄

Or set up your own bank with Zopa:

[*] http://uk.zopa.com/member/oinkgrr [/*]

You took investment advice from an internet forum full of cyclists? Even after admitting you don't really know anything about finance?

What's wrong with that? Some of us on here do know a bit or too about finance and investment you know. The chaps over on Moneyweek seem to be plugging Gold at the moment too and they are all supposed to be experts in financial matters.

I'm not saying investing in Gold/Silver will make you money. Sure it could also loose you money, but then so could stocks/shares or any other investment that's got the potential for decent returns. With the wal the economy id looking though then I'd expect a decent return from Gold and Silver over the coming year. The time to sell Gold & Silver is when interest rates rise and/or confidence is restored in the Eurozone and world economy.

Watch out for Silver though. It's a lot more volatile than Gold and can go up and down quicker than a tarts knickers. Great if you can sell high and buy low but predicting this is very difficult.

Gold 😯

A year or two (or more) ago, sure, but surely the bubble has to burst soon.

I'm not sure it will burst any time soon. Not whilst interest rates are at rock bottom, currency is constantly devaluing and there's no confidence in governments ability to service their bonds and debts.

The media and ordinary folk in the street have mostly not even heard of investing in Gold. I told a couple of friends I had invested and they looked at me like I was completely crazy. If the media catch on to further Gold rises, then we could be in for a big bubble. A bit like what happened with houses ten years back although probably not on quite the same scale. After all you can't live in a Gold house can you? Unless you're a 3rd world dictator of course.

Of course I could be totally wrong but I'm not planning on selling mine at the moment anyway. The government can print as many more pounds as they like, turning your wallet into worthless bits of paper. But they can't mine lots more Gold any time soon.

Have you not been reading todays earlier thread

For investment advice take a trip to the Zoo and head for the monkey enclosure

Northernstar, I agree with some of your points, but from what i've gathered investing in gold has been very fashionable/popular in the USA basically since the Tea Party movement kicked off. Enough so to form a bubble in my opinion.

😆
It's all relative. I have safe money in other stuff, ten-year assurance schemes, ISAs etc, I've exhausted most of the 'normal' low-risk saving methods that would appeal to me. 6.5k has gone on gold split between London and Zurich, 1k on silver. What's the worst that can happen, I lose the equivalent of the cost of a night out before bailing out? What's the alternative, lose money anyway as the best common saving rates are nearly 3% below inflation. If I do lose out, the other £2.5 might go on black or red...

NB probably shouldn't mention that I did work for HSBC for nine years in one of their international branches doing import/export doc credits, mostly involving arguing discrepancies with Nigerian and Indian banks. Irony is that they paid a pittance so I never had reason to ask my peers there for investment advice.

I'm no expert but if I was going to invest some money in metals it would be physical. Aren't places like BV all paper? Not sure buying metal ETFs is any better than keeping your money in sterling, if the s**t hits the fan then ETFs can be confiscated/defaulted on quite easily I'd imagine.

Buy krugerrands and hide them somewhere!

BV deal in physical assets. You're right though, most others are paper.

Is Gold in a bubble? probably yes - unless you listen of to some experts who seem to think that today's prices are the new norm, and it will go much, higher. No-one really know though at the end of the day. Also which point in the bubble are we? Near the middle or near the top? Again no-one knows.

Where else can you put your money anyway? I have some Premium Bonds. Very safe but the odd £25 win is a pittance really. I have a savings account but again even on a good rate this is getting 3% before tax. I also bought some shares in BP a while back just after their value had plummeted. These have done very nicely but the stockmarket is so volatile and nervous at the moment that any gains could be wiped out an a matter of days. The OP could have bought a house with his 10K deposit and then seen all of his deposit get lost as houses drop in value over the coming year.

So Gold seems a good and safe alternative and there seems to be real returns to be made. The sign's I'm using to sell my Gold are:

A major improvement in confidence in the global and European economy.

A rise in UK interest rates.

These two things I suspect could bring about an end to the Gold bubble as investors faith in currency, binds and other investments starts to return.

With BV you actually buy real Gold, that sits in a vault either in London, New York or Switzerland. BV look after it for you and charge you a small storage fee. Plus they charge a small fee every time you buy/sell.

It's easy peasy and no hastle at all. You can buy/sell at any time and they send regular statements via email.

One other point - while you may see a return (or loss) on gold/silver, historically it's not been seen as an investment vehicle in the traditional sense. More of a return OF your capital rather than a return ON it, which is why it does so well in times of economic uncertainty.

Yes - gold is a safe haven and that's why it's currently doing so well.

Unlike a company, a bank or a government, gold can't go bust.

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allthepies - Member
£8K on hookers, drugs and booze. Waste the other £2K.

😆

I would have serious serious concerns over BV

Who regulates them? Who to says they have actually bought your gold let alone holding it.

There are reasons why you have to jump through a few hoops to open a UK trading account with your bank, stockbroker etc.

The hoops are there to protect you the investor.

Fill in an online form, then just send your money over…. madness

What happenings if they go bust?

Serious please please take your monies out

So can you go to BV and ask to see your little pile of gold?

I would have serious serious concerns over BV

Founded on what perhaps? Check out the stats yourself and I think you will find that they are a reputable company. Even won a Queens Award for Enterprise and Innovation in 2009.

I had to jump through more hoops setting up an account with BV than I did through Barclay's when setting up a share trading account. BV wanted passport scans and everything.

Anyway I guess you'll have to make your own mind up. If you'd rather keep your cash under the mattress or in one of the bailed out banks that may soon go tits up then please feel free. I bet it would take the government a minimum of 6 months but probably far longer to cough up and stand good on their deposit protection scheme - provided of course they can afford it!

cheburashka, does it feel weird that your initial investment has decreased in value by 2% already?

Thanks for pointing that out... I had noticed, yes. 😆

It's just a blip...

I agree with Northern Star's sentiments and the only reason gold is not sky rocketing right now is that banks are having to sell gold as people withdraw their money the below inflation returns their investments are offering right now.
I put about 7 grand into gold in an ISA when it was worth $700/oz: It's now worth almost $1800 tax free. Got my pension in there in a SIPP.
Invested via Hargreaves Landsdowne as their fees are miniscule and I can buy and sell at the drop of a hat online.
I reckon gold will go to $2000 by the end of the year..I might sell then and re-buy if it drops a couple of hundred...

Eggs
Basket?

I have some magic beans for sale, should yield golden egg's and gold is a good investment..
pm me.