Investment?

[wrsni]

I just put half my wage into savings from leaving school! Until I left home!

 

Still, you done well.

 

It's a helluva lot more than most young'uns nowadays manage.

[AardvarkTreeServices]

Don't have a mortgage as yet hopefully this year!

If you're thinking of getting a mortgage then wont you want this £20k for whatever you're buying? Theres no point in getting into most of the investments suggested if you need the money in the next year or so.

[Two Acres]

I think its very impressive putting 20k together at a young age. Its surely not an investment but more a deposit on a house?

[agg221]

I think its very impressive putting 20k together at a young age. Its surely not an investment but more a deposit on a house?

 

Sounds like it. Unless you really like your current bank, you could try opening a Santander 123 current account which will pay 3% interest on up to 20k. Check the other requirements though to see if it is suitable, but it gives the best instant access rate I can find.

 

Alec

[hamdogg]

I have another 20k for my house deposit lol

[Two Acres]

I have another 20k for my house deposit lol

 

Ace :thumbup: It just gets better!

 

In that case woulldn't a 40k deposit get you a much better mortgage rate than a 20k deposit?

 

I'd keep three months wages in cash for emergencies and use the rest to create as big a deposit as possible.

[pie eater pete]

Works fine whilst you have good tenants

 

The only good thing with property imo is the way your property value increases unlike other forms of investment, bad tenants will have you pulling your hair out.

 

I have a friend who has had some money in a prudential fund and he has returned some really good figures, far better than most rental returns after repairs and all the other crap involved in them.

 

If his prudential return is above 500 per month im all ears;)

[carpenter1]

What would you need to put in a pension for 40 years to get a good income?

[hamdogg]

I wanted to keep some money back just incase owt goes bang e.g trick chipper

[Two Acres]

What would you need to put in a pension for 40 years to get a good income?

 

Aa lot more than you'd want to