what shall i do?

Question

iv got 40.000 pound and not sure whats the best thing to do with it?

Answer 1

Send it ALL to me and I'll invest it wisely for you. ;p

Answer 2

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Answer 3

First I'd take 10% off the top and put it in a high interest account & start a foundation and use it for charity. That way it can earn more for charity while giving it away.

Then I'd take half of what's left (18,000) and do the same, only a trust.

Then take half of what's left of that (9,000) and invest in a solid mutual fund.

Then half of that (4,500)in a high yield savings account.

Lastly put the rest (4,500) in an interest bearing checking account. That way you can have a little fun and still earn interest.

BUT if you have high interest credit cards, mortgage, car payments, etc. I'd pay them off first because overall you save so much money it's the same as earning higher interest than the stock market or interest bearing accounts pay.

Answer 4

Save it till you really need it. I guarantee that in the future that there will be rainy days and £40K will come in handy.In between jobs for example or if you or your family fall ill.
High interest savings accounts for any major bank is a good bet. You probably wont be able to touch the money for a few years but it will grow.
Stocks and shares will get you more money but its not guaranteed and unless you know what you are doing it could disappear very quickly.

Answer 5

first pay off any debts you might have i do not know of any investment that pays higher rate of return than debt interest

second put aside at least 6 months in a rainy day fund to carry you in case you lose your job (this is in a very liquid account ( you could ladder cd's so you have one coming due every other month)

third i would buy some long term cd's at least l5%

then i would buy depending on age some quality mutial funds
25%

then i would buy some corp high quality bonds 25%

then depending again on your age i would look for some blue chip stock unless you are an old fart like me i would put it cd's and bonds!!!

Answer 6

What u mean u dnt knw what 2do lol!!! xxx save it in ur account coz one day dat 40,000 may be needed 4 sumthng very important and u myt regret ever spending it!!!! until ur a rich retired pensioner then u can spend dat 40,000 hehehe :P xxx if ur generous support a charity, anyway da good part of having money is helping others dat are less fortunate x x x

Answer 7

Speak to a financial advisor, in the nean time put it into a high interest account so you can make some money off it while its sitting there. Good luck xx

Answer 8

Find a financial counselor - make sure he has a degree or two. This person s/be able to advise on taxes, investments, etc. and help you plan for your future.

Answer 9

save some and spend some so at least you get to have some fun and still have money in the bank for a rainy day.

Answer 10

Put it in a savings or investment account. Earn interest.

Answer 11

The best investment you will ever make is property.
If you can try and invest it that way.
short term loss, long term gain!!!!