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Investments Help
So you’ve got some spare cash in your current account or under the
floorboards ! Congratulations !
You are rich but can be even richer if you invest it :
Here are the obvious financial investment options you have :
Option 1: Place your money in a savings account (also know
as a deposit account ) this will earn you an interest but only a
little - marginally more than a current account , the risk is nill
but you won’t make much . It pays to shop around but we have listed
some of the best savings account on the left ...Remeber even though
the deposited money is safe you are up against inflation so in real
terms the buying power of your deposited money is reduced ( currently
around 2% but variable )
Option 2: Take out an ISA : You can invest upto £3000 in
a maxi ISA and £5000 in a mini Isa these can be cash ISAs ( fixed
rate of interest ) and investment ISAs ( where you can invest in
managed funds or individual stocks and shares ) Find
out more about ISAs
The great thing about ISAs is they are TAX free ( income tax on
interest on savings account is 20% !) . If you buy an ISA every
year you can build up a nice tax free income a bit like a pension
.
Option 3: Riskiest - Investing the stock market - You can
buy stocks and shares online
or over the phone ( or via your local bank ) all have one thing
income a stock broker who buys and sells your shares for you . The
brokers commission is the first cost , and you pay it for buying
and selling . If you chose wisely ( we suggest buying a spread of
shares through different business sectors ) your share prices could
rocket . In general the FTSE ( a selection of share indexes ) always
goes up - eventually , so on average a well sppread portfolio of
shares should beat all savings accounts . - But as commission is
payable it often only pays if you are buying in bulk . Stock investments
are only recommended if you are willing to gamble everything .
More Help On Investments
Use our search facility at the top of this page to find out about
investment help . ( Enter investments or stocks and shares to locate
investment advisors )
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