What do I invest 70 grand in?

[dvs_dave]

I'm in the fortunate position of having 70k spare cash. I'm keen to put it to work but don't know what to do with it. I have time on my side (I'm mid twenties) so long term schemes are also of interest.

I don't mind taking risks with the money and I currently have access to offshore banking facilities.

I'm thinking of maybe putting the bulk of it into stocks and shares using Barclays Personal Investment Management. Has anyone used/using this service and is it worthwhile?

I'm not very clued up on investment schemes so any advice would be welcome.
Cheers

[Don]

In your position I'd want to be choosing what stocks and shares myself - rather than allowing a "manager" to take most of the damn profits in fees. You could also consider a property investment. Sure you'll have a mortgage as well as your 70K deposit - but you'll get some captial appreciation (more than the interest unless you are monumentally unlucky) - and you can also get an income from rental.

Also - don't forget you can put 3K a year into a Cash ISA. Get one of these. The interest is tax free. Starting in your mid-twenties you can have a 80K tax free pot come retirement.

[hammerwerfer]

I know of a race team that is looking for funding. High risk, but high return!

[GregE240]

Buys a heck of a lot of Billy, that.....

[Dan172]

dvs_dave said:

I'm in the fortunate position of having 70k spare cash. I'm keen to put it to work but don't know what to do with it. I have time on my side (I'm mid twenties) so long term schemes are also of interest. I don't mind taking risks with the money and I currently have access to offshore banking facilities. I'm thinking of maybe putting the bulk of it into stocks and shares using Barclays Personal Investment Management. Has anyone used/using this service and is it worthwhile? I'm not very clued up on investment schemes so any advice would be welcome. Cheers

Give 1k to a troubled teenager like me! Im 7k in debt with my parents!

[ultimasimon]

Dan172 said:

dvs_dave said: I'm in the fortunate position of having 70k spare cash. I'm keen to put it to work but don't know what to do with it. I have time on my side (I'm mid twenties) so long term schemes are also of interest. I don't mind taking risks with the money and I currently have access to offshore banking facilities. I'm thinking of maybe putting the bulk of it into stocks and shares using Barclays Personal Investment Management. Has anyone used/using this service and is it worthwhile? I'm not very clued up on investment schemes so any advice would be welcome. Cheers Give 1k to a troubled teenager like me! Im 7k in debt with my parents!

Lucky you, when you leave your parents then you become £170k in debt to your mortgage lender or more as is normal these days

[scared but happy]

Property, Land, Property, Land, Property - done. My relation has 3 houses and my other one has 5. NEVER lost any money on any.

[puggit]

70k will buy a VERY nice apartment in Cape Verde - the next up and coming holiday resort for Brits...

[pmanson]

£30k into Premium bonds (The max you'd allowed to invest i think) should get you a reasonable return will low risk and the chance to win £1million every month.

Pay off your mortgage with the rest?? or find a niche market to invest in.

[NDT]

Don said:

In your position I'd want to be choosing what stocks and shares myself - rather than allowing a "manager" to take most of the damn profits in fees. You could also consider a property investment. Sure you'll have a mortgage as well as your 70K deposit - but you'll get some captial appreciation (more than the interest unless you are monumentally unlucky) - and you can also get an income from rental. Also - don't forget you can put 3K a year into a Cash ISA. Get one of these. The interest is tax free. Starting in your mid-twenties you can have a 80K tax free pot come retirement.

Personally I wouldn't recommend picking stocks unless you know a lot about the industries / companies that you're going to invest in. A straightforward tracker with low fees is a reasonable investment.

Property might be one to look at, although buy-to-let has become a crowded market, but if you an find property that is undervalued for some reason and tidy it up then it might be a goer...

>> Edited by NDT on Tuesday 3rd January 10:48

[fido]

how spare is the cash? you could...

1) pay off short-term debt

2) pay off your mortgage. if you don't own your home, it would make a nice deposit - even on a place to let out?

3) buy some Premium Bonds (up to £30k)

4) push it around in a pram shouting LoadsAMoney...

[mongoose]

puggit said:

70k will buy a VERY nice apartment in Cape Verde - the next up and coming holiday resort for Brits...

Wheres that then?

[puggit]

mongoose said:

puggit said: 70k will buy a VERY nice apartment in Cape Verde - the next up and coming holiday resort for Brits... Wheres that then?

Keep going south from the Canaries for another couple of hours!

Direct flights are due to start some time around 2006/2007 (allegedly)

[dvs_dave]

fido said:

how spare is the cash? you could... 1) pay off short-term debt 2) pay off your mortgage. if you don't own your home, it would make a nice deposit - even on a place to let out? 3) buy some Premium Bonds (up to £30k) 4) push it around in a pram shouting LoadsAMoney...

The cash is totally spare. (charities aren't an option as I worked f'ing hard for it!!)

I don't have any debts or mortgages to pay off (don't own any property) and am not currently resident in the UK (I spend less than 90 days per year in country). If I don't do something wise with it I'll probably end up pi55ing it all up against the wall.

Basically I don't currently own any appreciating assets and can afford to put 70k away somewhere for a while. I've thought about buy to let schemes but because of my "non resident" status, will have trouble getting a decent rate on a mortgage.

[numbnuts]

If it were me ..i would put it into property, something like a buy to let!

[Neil_H]

If it were me I would put it in property, I wouldn't bother with stocks unless you know what you're doing. Might be worth having a chat with a financial advisor too.

[allnighter]

Can't go wrong with property, let it out , and if you change your mind sell it at a profit.Win win situation.

[fido]

dvs_dave said:

Basically I don't currently own any appreciating assets and can afford to put 70k away somewhere for a while. I've thought about buy to let schemes but because of my "non resident" status, will have trouble getting a decent rate on a mortgage.

i'd be surprised if you have problems getting an offset-type 80k mortgage with 40k deposit, i'm assuming 120k will get you a decent flat somewhere...

30k left into Premium Bonds, and keep your fingers crossed.

[angrys3owner]

I think everyone on here is being a bit naive on the property advice, shares have over taken property in growth again and I'd wonder if all these people have forgotten the late 80's etc... Property can be a bad investment, maybe not very long term but could be soon.

70,000 lottery tickets? could be a laugh!

[shnozz]

angrys3owner said:

I think everyone on here is being a bit naive on the property advice, shares have over taken property in growth again and I'd wonder if all these people have forgotten the late 80's etc... Property can be a bad investment, maybe not very long term but could be soon.

if I was mid 20s and had £70k in the bank going spare (and assuming any intention to live in the UK in the future) I would want to ensure I had a foot on the ladder.