News0 min ago
Investing some money.
3 Answers
I'm looking to stick away �2000 for a couple of years, what is the best way to invest it with a guaranteed return and zero risk? Any info appreciated.
Answers
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This throws up the following:
http://www.moneysupermarket.com/SavingsP/Savin gsResults.asp?Results=4&InvestmentAmount=2000& intProducts=1
However if you are a taxpayer the 7.1% rate would fall to 5.5% net so you would be better with an ISA paying ovr 6% tax free.
But with �2000 even with a 7% tax free interest rate you'd only get around �300 compound interest over the full 2years.
If you have a mortgage I'd pay �2000 off that
This throws up the following:
http://www.moneysupermarket.com/SavingsP/Savin gsResults.asp?Results=4&InvestmentAmount=2000& intProducts=1
However if you are a taxpayer the 7.1% rate would fall to 5.5% net so you would be better with an ISA paying ovr 6% tax free.
But with �2000 even with a 7% tax free interest rate you'd only get around �300 compound interest over the full 2years.
If you have a mortgage I'd pay �2000 off that
If you're a taxpayer, I'd opt for the best Cash ISA you can find. If you've already used up this year's allocation, building societies are currently offering a number of good interest deals with one and two year savings bonds.
As well as the previous site mentioned you can also check out www/moneysavingexpert.com
As well as the previous site mentioned you can also check out www/moneysavingexpert.com
If you want a very low risk investment you should do mutual funds. Energy mutual funds have provided a good sector fund even during this worsening ecomony.
http://www.amfi.com/types/energy-mutual-funds
http://www.sec.gov/investor/pubs/inwsmf.htm
http://www.amfi.com/types/energy-mutual-funds
http://www.sec.gov/investor/pubs/inwsmf.htm