[Guy Incognito]

If I had recently come into a bit of good fortune and had £10k lying around what would you do to invest it safely and soundly?

Cheers

This post has been edited by Guy Incognito: 09 July 2008 - 07:41 AM

[AndyW]

At this point in my life, the sensible side of me would say either invest it in property or pay off my student loan.

The "do what I want" side of me would go out and buy a new car

[shyann]

If I had £10k I'd probally pay my morgage off, & help the kids [21 & 22years old ]with their student loans. Unfortunately it wouldn't even cover it all. But on the bright side it'll take a chunk of it off.

Ann

[MattC]

With the problems in the housing market, and supposed looming recession, i would invest my £10k in copper.
With the price of copper 300% higher than 3 years ago, and the prices still spiralling, it seems like one of the only safe bets at the mo.

[shyann]

GOLD also

Ann

[mikey2cv]

Get some work done on the house. £100,000 though and I'd be off to the Aston Martin showroom.

[kitf]

Probably pay off a few outstanding bits and pieces, put a chunk on the mortgage and save a bit. Then get a new loan to buy an FRP

[Mork of Ork]

I'd Buy a mint condition BMW 635 CSI.

[kitf]

A proper 6 series... One of the only BMW's i'd have!

[Neil]

Pay off my loan. How boring!

[HFStuart]

If I had recently come into a bit of good fortune and had £10k lying around what would you do to invest it safely and soundly?

Cheers

Funily enough I find myself in the same boat (albeit with a ittle less). Cars are never a safe investment but here are my options given the half of it has already gone on the new porch:

1: Get the bodywork on my Beta convertible sorted and resprayed the original colour
2: Share is with my wife so we can buy a brand new family car for us and our new addtion. That way I don't have to maintain her Stilo Estate.
3: Sell the Beta and the Puma and buy a condition 1 Delta Integrale Evo

Option 3 looks tempting, it won't loose any value but the running cost could cripple me.

Stuart

More boringly stick the maximum you can into an ISA for the next few years. It will offer the safest return. Stocks and shares aren't a great idea at the moment unless you are looking for long term (10yr+) and though other commodities are rising at the moment they are very volatile. I wouldn't invest anything in them that I couldn't afford to lose.

Stuart

[happy-kat]

if me, take £500 out for frivilous money to enjoy

the rest save, could stick it in an ISA at least it would be tax free saving if do not want to risk any re stocks go down as well as up

what I would not do personally is spend it all as once, if it is gone there is no opportunity to be flexible with it if the need arises where you need money

[Sex Kitten]

isa unless like me you already are up to your maximum, stcoks and shares isa's arent too bad as you can cjoose the level of risk

otherwise bonds may be an idea

or pay a chunk off the mortgage

[happy-kat]

with a Mr and Mrs you have the ability to open an ISA each, maybe one with instant access so you can get to it, an one with notice access (will have better interest rate)

though I am not a financial adviser just saying what I would do, in fact it is what I did, my first ISA is instant access my latter one is 30 day or something notice

mortgage is an interesting one, you could do some calcualtions to see how much that would save you long term on the interest Though your mortgage may not allow additional payments if you are tied in right now with a deal.

ooh another idea

that would give you a float for a one account style arrangement, they work best apparently if you have a bit in them, can't comment further as have no experience of them

[Mork of Ork]

A proper 6 series... One of the only BMW's i'd have!

Oh yeah, the '80's BMWs are my favourites. I just found out I can insure a 635 CSI for less than the Puma! so watch this space, I might have to save up and indulge myself in a bit of classic BMW ownership!

[Dogsbody]

I was in that position about a 18 month ago...
I bought a FRP for me and a Trike for the wife, but broke the 10K limit just !!

No good sat in a bank account earning next to nothing in interest
I wanted to enjoy it while we could

This post has been edited by Dogsbody: 09 July 2008 - 12:27 PM

[e3silversurfer]

pay off the mortgage or purchase another house using that as deposit and rent out the house

or perhaps renovate the current house

[Dogsbody]

pay off the mortgage or purchase another house using that as deposit and rent out the house

With 10K

This post has been edited by Dogsbody: 09 July 2008 - 12:33 PM

[e3silversurfer]

ok PART of the mortgage not ALL of it