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Best way to make a good amount of interest on 10k


thesaint sfc
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I bought my first house recently and was able to negotiate £10k off the price for repairs needed on the house. I don't really need the repairs done at the moment so I've got the money but don't won't need to spend it for at least 2-3 years. My friend has suggested I perhaps look at putting it in a Turkish bank as they've got much better interest rates to us. I'd like a safe place to put it, and make some decent interest on it rather than the £1.73 a month I'm earning on it at the moment.

 

Any suggestions?

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I bought my first house recently and was able to negotiate £10k off the price for repairs needed on the house. I don't really need the repairs done at the moment so I've got the money but don't won't need to spend it for at least 2-3 years. My friend has suggested I perhaps look at putting it in a Turkish bank as they've got much better interest rates to us. I'd like a safe place to put it, and make some decent interest on it rather than the £1.73 a month I'm earning on it at the moment.

 

Any suggestions?

 

I'd find yourself a good ISA, there are still some about.

 

Define good amount? 3% 5% 7%?

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I'd find yourself a good ISA, there are still some about.

 

There are 3 options.

 

1. A cash ISA (but tbh the interest rates are not good) and it has a maximum investment of £5100 pa.

2. A Funds ISA with varying degrees of risk (a better choice) and it has a maximum investment of £10200 pa.

3. A DIY ISA where you invest in shares yourself. Maxiumum investment £10200 pa.

 

I would advise option 2, with medium risk.

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There are 3 options.

 

1. A cash ISA (but tbh the interest rates are not good) and it has a maximum investment of £5100 pa.

2. A Funds ISA with varying degrees of risk (a better choice) and it has a maximum investment of £10200 pa.

3. A DIY ISA where you invest in shares yourself. Maxiumum investment £10200 pa.

 

I would advise option 2, with medium risk.

 

Yes, option 2 for a reasonable rate of return with less risk, just gotta hope themarket recovery keeps going as it's done over the last year.

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If you are going to go for an ISA I would go via a discount isa place, I use http://moneyworld-ifa.co.uk/ (basically financial companies give an 'IFA' a cut of any product bought through them, places like moneyworld give you at least some of that back so cheaper than actually going direct to the financial company).

 

If you are okay with a bit of risk then invest in Chinese stocks can be quite profitable. Put some in the Fidelity Chinese Special Situations fund in April and its currently up 22% or so.

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If you are going to go for an ISA I would go via a discount isa place, I use http://moneyworld-ifa.co.uk/ (basically financial companies give an 'IFA' a cut of any product bought through them, places like moneyworld give you at least some of that back so cheaper than actually going direct to the financial company).

 

If you are okay with a bit of risk then invest in Chinese stocks can be quite profitable. Put some in the Fidelity Chinese Special Situations fund in April and its currently up 22% or so.

 

I've done well on this and also have tweeked my other funds to include more Asian stocks !

Can't see Europe performing well in the short/medium term !

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I've done well on this and also have tweeked my other funds to include more Asian stocks !

Can't see Europe performing well in the short/medium term !

 

There is always the risk that the Chinese government could just decide to revalue their currency or so something else random that would have a major effect on these stocks so it is still a risky investment compared to those giving a lower, guaranteed return. i.e. don't blame me if you loose money!!

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