A good investment ?

My daughter's engagement ring cost £2250 16 years ago. She wore it for a year but the relationship ended.
She decided recently to sell it and when I took it to the jeweller who sold it to them, I was offered £200 for it. Another jeweller offered the same.
Not such a great investment!

Some current accounts pay 3% interest if you keep the balance up to £3000, above that they pay no interest. If you could open three or four of these with your £10,000 and keep them going you would get more than if you took out an ISA. 3% of £10,000 is £300, an amount worth having. Have a look on the Money Saver website.

They do have a minimum pay-in per month of £500 or £1000 - but it can be the same money going from one account to another, round and round. Half an hour spent opening online accounts and working out a system of Direct Debits and setting them up will get it all working.

The Banbk of Scotland at the moment pays 3% interest on amounts between £3,000 and £5,000 and you can have up to three accounts - but they have just announced that as from 11th June it will only be 2%, on amounts between £1 and £5000. Even that is better than an ISA!

Hello.
There is no sense to buy bonds you know. I would spend it on world-round tour for pensioneers

The Sunday Times Money Magazine has a piece in each week on how best to invest £10k. I don't know how easy it will be to access/ search back issues but I'm sure there will be some that target older readers with that sum to invest.

Thank you lewlew

You will have a lovely new home at the end of the day, which will make you feel great. As for investing £10.000, I can't see where you would get any interest to speak of, even isa's are not reaching 1%. I would put it in an instant access ISA, use £1000 and have a lovely holiday or treat for yourself, if interest rates get better it would be easy to move it.

I won £50 on the premium bonds last month and £75 this month. Better than nothing.

But don't go blaming me if your dreams are shattered!

Go on, be a devil!

www.nsandi.com/prize-checker

Yes, that's what I did yesterday, Jamila. It does dash all your hopes very early on in the month, though, if you don't get anything (like this month, darn it!).

The prizes are available on line on the second working day of the month. I am never sure if this is January or February draw but think it is the latter. You just put your holder number into Premium Bond Checker. I think all prizes are announced at the same time regardless of size.

mumofmadboys I didn't think the £25 came until towards the end of the month.

I still haven't received my £100,000, it's looking less and less likely by the day
£25 would be nice

Stansgran That's when the relationship between a financial adviser firm and the funds has ties that are not appropriate. This often happens when a firm advises buying mutual funds, unit trusts, commercial property trusts, etc. that may be off the radar in the financial world. Not to be confused with legitimate overseas, but still risky investments not appropriate as the risks are not explained to the customer.

www.thisismoney.co.uk/money/investing/article-1669499/The-true-cost-of-bad-financial-advice.html

An incestuous case is where a firm puts together a fund containing investments in which they may have a huge stake in, or are get unusual fees and/or kick-backs vs a proper transparent fee for bringing a new customer to the fund.

What are incestuous funds?

Well I won £25 this month!!!!

I don't mind £100,000, that would do

Well, Jalima, I couldn't resist checking online earlier today, so all hope is dashed . I'll never learn.

My million £ cheque has not arrived, hope it's not lost in the post

Have you had yours yet Maggiemaybe?

I am grateful for all the advice . I love some of the ideas . I would never go to an FA but would always be very careful and never gamble with my DMs hard earned money by putting into a dodgy scheme ! The nicest part of the inheritance for me is doing all the upgrading to my home ie new bathroom and kitchen and getting a decorator in to redecorate from top to bottom without having to worry about paying for it . Thanks everyone for contributing your thoughts and ideas xx

For a relatively small investment of 10 K I don't think an IFA would be that interested.

Happy to share, Jalima! Oh, if only...

tomorrow, Maggiemaybe
and the other £1m is mine

jefm you may have had superb advice but all too many have not and have lost a great deal of money, some their life savings, others their homes and pensions because 'qualified FSAs advised them', approved by the FSA etc etc etc.

I am glad you are not one of them.

I do like my Premium Bonds. I love the thrill of checking them online on the second working day and waiting for that "Congratulations, you have won..." to come up! I think I'd be to pick up off the floor if it ever said £1,000,000, but I'm willing to chance it It was £500 once in 2015, which helped my return for that year reach 5%. Last year it was 1.6% for me and 3.3% for DH.

Sorry I don't agree-these posts can be helpful with ideas and suggestions but they are often not expressed in that way. And re FAs, again with my own experience of a large company in Manchester I have had superb advice over many years! There are some excellent- NOT single individuals , or those who are tied, but large companies ( may be some smaller ones) who have the expertise that is required, by all means share what has been right for YOU but don't advise! The right decisions are the best ones.

I wonder what we are all doing, playing at being Financial advisers- who incidentally have to be qualified to give advice and have to totally understand the clients background and needs.

I would never trust a FA again either.

We are not playing at being financial advisers - we are helpful posters advising another poster on what we may or may not have done with some savings.
Experience counts for a lot and none of us has a vested interest or is hoping to gain commission from f77ms's inheritance.

You could, of course, invest it in the stock market f77ms but that is for the long term; not sure how old you are but personally I would not invest a lump sum, only drip-feed a small monthly amount at my age and you may need or want to get hold of it at any time so it may be better not to tie it up.