I have £10000 to invest is there anyone who can help me with ideas to invest this money I divorced recently and I hav defaults on my credit information so I can''t get a mortgage or get a loan for next 7 years but I have this cash and it can increase to £20000 in the new how best can invest to get something whether its a business idea or anything please I am not spending the money at all
It all depends on you view on risk, a cash ISA is very safe but not going to set the world alight, shares ISA has more potential for return, but higher risk. Or you could put the whole lot into premium bonds, you should get some return and will always get your money back. Or there is the other option of No6 in the 15:45 at Kempton...
You really need to decide first about how accessible you want the money to be, what level of risk you are prepared to take and how long you want to invest. I think it''s quite a good idea to keep the equivalent of two or three months wages saved in cash somewhere accessible as a contingency. If you are thinking of a cash ISA it''s advisable to check that it is better than an ordinary savings account.
Shares are volatile just now and I was at a meeting last week with investment managers and they aren''t predicting an end to the volatility any time soon so unless you are prepared to invest for the medium to long term (7-15 years) it''s perhaps better to avoid equities. If you want to invest in shares and are prepared to spend time doing some research one thing you can consider is opening an ISA dealing account and drip feeding say £500 a month into it and building up a portfolio yourself of 8-10 FTSE100 companies in different sectors. That way you save on fees and you are spreading the risks.