£300K - what would you do?

[pincher]

S-i-L has just sold her bungalow and has £300k to bank. She wants to get the highest rate of interest possible but is somewhat worried about the current banking situation i.e. is fretting about sticking all in one bank in case they go hooters up.

If she spreads the risk across 6 Institutions, she won't get as good rate of interest I presume?

What would the PH massive do?

[Blukoo]

My dad has just opened 8 different accounts so he can stick about £50k in each of them, and have everything guaranteed.

I guess thats one option.

[Rob.]

Beer, hookers (male ones in this case) and fast cars.

Edited by Rob. on Sunday 2nd November 19:07

[King Herald]

Rob. said:

Beer, hookers (male ones in this case) and fast cars.

....and just waste the rest.

[mat205125]

Wait for a few peoples mortgages to go tits up, and their houses to get repossessed. Get along to the repo auction and buy for cash.

[paul26982]

stuff mt mattress with it

[SS HSV]

Rob. said:

Beer, hookers (male ones in this case) and fast cars.

Edited by Rob. on Sunday 2nd November 19:07

Exactly my thoughts, I would invest £200k in fast cars and women, and the rest I would squander

[martin thomas]

Blukoo said:

My dad has just opened 8 different accounts so he can stick about £50k in each of them, and have everything guaranteed.

I guess thats one option.

Worst ever (My dads got 400k in the bank) post ever!!lol

[Alfahorn]

Blukoo said:

My dad has just opened 8 different accounts so he can stick about £50k in each of them, and have everything guaranteed.

I guess thats one option.

I think that's the best option, spread your investments thin.

[Neil_H]

Buy a couple of repo'd properties.

[vinnie83]

Look for goverment guaranteed investments?

Eg NS+I or Northern Rock - I'm no expert though... I'm sure the IFA's on here will soon be along to help though!

[Schermerhorn]

Invest in commodities like gold and silver.

Buy properties (repo'd)
Buy a little house in the country with some acres of land.

Basically you want to convert all that cash into commodities as soon as possible. No use having £300,000 if its not worth the paper it is printed on (which 'could' happen).

Better safe than sorry.

[Rob.]

swerni said:

stick it in Iceland.

I hear they are offering good deals at the moment.

2 for 1 on Fish fingers apparently.

[CosmicMatt]

Rob. said:

swerni said:

stick it in Iceland.

I hear they are offering good deals at the moment.

2 for 1 on Fish fingers apparently.

Kerry Katona has never stooped so low...

[Jasandjules]

Buy some gilts?

If he wants high interest then a high interest account would, I assume, require say a six month period of investment to generate the interest, the same period as a bond to pay out on an interest payment...

Edited by Jasandjules on Sunday 2nd November 21:33

[speedy_thrills]

Don't Irish banks guarantee to the full amount (a very clever move IMO)?

[Bonnie and Clyde]

Pay off mortgage. Nice holiday. Serious Mods on the Monaro(HarryOz style)(for SS HSV);)
Mel

Oh yeah t1t job

[pincher]

Gilts probably isn't a bad shout.

Spreading the risk seems like the sensible thing to do - I guess she needs to speak to an IFA really.

[Simpo Two]

swerni said:

stick it in Iceland.

I hear they are offering good deals at the moment.

£300K would probably buy Iceland now.

[Ordinary Bloke]

pincher said:

If she spreads the risk across 6 Institutions, she won't get as good rate of interest I presume?

Right now, that's exactly what I'd do. NR, NSI, and then big names in the UK. Then get an IFA and work out how to invest it when the market turns, or when property turns - not before the end of 2009 in my opinion, but it could be many years.