Best place to invest my money?

Hello,

Basically I recently inherited £30,000 (not to brag) and I am struggling where I should invest this. I'm not the type to go and just spend it all on materials etc. Rather I want to try and save it for the future (as I'm 16).

As I cannot exactly by property or anything like that at a young age.

Hello,

Basically I recently inherited £30,000 (not to brag) and I am struggling where I should invest this. I'm not the type to go and just spend it all on materials etc. Rather I want to try and save it for the future (as I'm 16).

As I cannot exactly by property or anything like that at a young age. I've looked at premium bonds, as interest rates are so low these days that, I feel I have a better shot or equal chance with bonds. Is premium bonds in these times a good investment? If not, is there any advice you could give me for better investments? As I cannot seem to find any good interest rates for saving accounts.

I'm preferably looking for an investment that is risk free, hence why I have considered premium bonds due to it being protected by the treasury etc.

Thank you!
Buy*

Best Answer:

Hope!: Don't try to do this yourself. Go see a Financial advisor, or wealth management expert. Expert is the key word.
I would never have recommended this 10 years ago – I always wondered if they knew what they were doing, or if they cost a lot etc.. but a friend of ours became a financial advisor and asked me to go for a free consultation. I didn't want to be rude, so decided to go just for the free consultation and then tell him I wasn't interested. Instead I invested with him – here's why. He belongs to a very large company, here in Canada. It isn't just him making the decisions with my money – he has to follow the company guidelines. The guidelines are made up by people who really know what they are doing. He showed me their results over the last 20 years and they were good. He then told me that by investing x amount of money, for x amount of time I could make a profit etc.. he had all the figures available for how much I should invest. He's been a wealth of information, and it has given me a great deal of peace of mind.
Research financial investment companies. Go to a reputable company that has been around a very long time. See what they say, and then decide. But I would not recommend doing this alone, or getting a non-expert to help you.
As for what it costs – they take a portion of what you make. For example, if I invest 10,000 at 7%, he takes 2% of that 7% – so it isn't like I am paying a ton of money out for his advice and services.
Good on you not blowing all this money on junk!

Other answer:

Hope!:
you are 16, take a little risk! anything risk free you are technically loosing money with inflation… i would put at least 1/4 in a stock index or something and forget about it until you are 30… google warren buffet investing advice and you shall find some easily explained ideas… and don't tell people about it, except strangers online 😊
Heather:
bonds are a good place for savings that you want to keep safe for a few years and then spend e…g… on university or your first home…

if you want to invest longer and don't mind taking a little risk with this money, invest in stocks… the returns are much higher than bonds… but you for the life of me cannot be sure the stock market shall be up in a particular year, so you for the life of me cannot count on having a profit a few years from now…

Ike:
this is why i advise my customers to rather use risk capital for person instruments… it's actually a stake in an unknown company… you have to be fine with organism able to lose all your cash invest… if not, stay clear…
Bipin Kumar TRPL:
This is why I advise my customers to rather use risk capital for person instruments. It's actually a stake in an unknown company. You have to be fine with organism able to lose all your cash invest. If not, stay clear.
dnice:
You are 16, take a little risk! Anything risk free you are technically loosing money with inflation. I would put at least 1/4 in a stock index or something and forget about it until you are 30. Google Warren Buffet investing advice and you will find some easily explained ideas. And don't tell people about it, except strangers online 😊
?:
Ok there is some how you can invest money in a bank. I heard 25,000 is minimum so you have enough. I think it's called cd? And you get 2% back every month. So it would be around 600 dollars. I'm not exactly sure if this is right but your money never folds this way. Unless the value of the dollar goes down?! But that will never happen right.
Amy:
Bonds are a good place for savings that you want to keep safe for a few years and then spend e.g. on university or your first home.

If you want to invest longer and don't mind taking a little risk with this money, invest in stocks. The returns are much higher than bonds. But you can't be sure the stock market will be up in a particular year, so you can't count on having a profit a few years from now.

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