2006-11-02 23:59:52 · 8 answers · asked by Clare B 3 in Business & Finance ➔ Personal Finance
Assuming that you're in the UK there's a few options - just save in a regular account, put money into an ISA each year, or go for an endowment product - you pay a monthly premium and it pays out a lump sum after a set period (the monthly premium and the period of the plan depends on the size of lump sum you need). This type of investment will depend on stock market movements so you might not get back as much as you think.
Another option is a friendly society bond - you can put up to £25 a month away over ten years tax free. Try looking at a company like Scottish Friendly.
2006-11-06 05:13:02 · answer #1 · answered by Anonymous · 0⤊ 0⤋
5
2016-03-28 05:31:36 · answer #2 · answered by Barbara 4 · 0⤊ 0⤋
depends on how much exposure you wish to have risk. If do not want to lose any money just put it in a boring cash ISA.
If you are a bit more adventurous drip feed it into a share ISA with an overseas fund maybe China or India (but possibly already overpriced), or Pakistan which is still not getting the exposure it should. If you buy a fund with Scottish Widows, Friends provident etc most of your cash will be used up in charges
Good luck
2006-11-06 07:40:21 · answer #3 · answered by D 5 · 0⤊ 0⤋
It sounds like you are discussing an annuity product. If so, the interest paid on the payments is very important. If you know the monthly payment and the lump sum payment, you can determine the interest rate. Look at the website linked below. It has the formulas that will give you the answer.
2006-11-03 00:09:54 · answer #4 · answered by david42 5 · 0⤊ 0⤋
Why don't you just put a set amount of money away each month into a seperate bank account and 10 years later you'll have a lump sum of money.
2006-11-03 00:02:35 · answer #5 · answered by Rudebox77 4 · 0⤊ 0⤋
Depends where you live. You can't have an ISA if you live in the states and you can't have a 401 K if you're a Brit. Need more information. i.e. where do you live and how much a month? N
2006-11-03 00:10:54 · answer #6 · answered by Anonymous · 0⤊ 0⤋
check the 401 k program if they have it available on your job.
2006-11-03 00:03:40 · answer #7 · answered by Anonymous · 0⤊ 0⤋
An I.S.A
2006-11-03 00:02:50 · answer #8 · answered by Anonymous · 0⤊ 0⤋