What’s the best way to invest savings?

I have around two grand in savings, I want to put it into something long term low risk where I’ll be getting more than what a standard savings account gives- I won’t planning on touching it within the near future. What’s the best means of doing so? I was looking into index funds and ISA but I’m still unsure.

Reply 1

Reue

20

Original post by Jeesus

I have around two grand in savings, I want to put it into something long term low risk where I’ll be getting more than what a standard savings account gives- I won’t planning on touching it within the near future. What’s the best means of doing so? I was looking into index funds and ISA but I’m still unsure.

Doesn't exist.

Reply 2

normaw

Clearing and Applications Advisor, Universities Forum Helper

19

Original post by Jeesus

I have around two grand in savings, I want to put it into something long term low risk where I’ll be getting more than what a standard savings account gives- I won’t planning on touching it within the near future. What’s the best means of doing so? I was looking into index funds and ISA but I’m still unsure.

If you are thinking long term and possibly keeping it for a mortgage deposit (or even pension), then a lifetime ISA is a possibility. You get a 25% government bonus on every contribution up to £4,000 per year. There are penalties if you don't use it for either of these purposes though so think carefully before tying your money up.

https://www.moneysavingexpert.com/savings/lifetime-isas/

Another option is a stocks and shares ISA but you need to think in terms of a minimum of 5 years.

Reply 3

HeyHi

3

I believe that one of the most profitable investments is buying real estate. Even if you do not plan to live in the purchased apartment, for example, you can rent it out and receive passive income from it. If you are interested in real estate options in different countries around the world, visit this site https://geoln.com/. Here you will find a lot of useful information about this.

Reply 4

Jeesus

OP

16

Original post by HeyHi

I believe that one of the most profitable investments is buying real estate. Even if you do not plan to live in the purchased apartment, for example, you can rent it out and receive passive income from it. If you are interested in real estate options in different countries around the world, visit this site https://geoln.com/. Here you will find a lot of useful information about this.

Not sure if I can with 2 grand haha but if I make enough I’ll consider

Reply 5

Pie-person

6

Do you have an emergency fund yet? If no, build that up first

Reply 6

Jeesus

OP

16

Original post by Pie-person

Do you have an emergency fund yet? If no, build that up first

I do yes this is it

Reply 7

Kallisto

Entertainment Forum Helper

22

Original post by Jeesus

I have around two grand in savings, I want to put it into something long term low risk where I’ll be getting more than what a standard savings account gives- I won’t planning on touching it within the near future. What’s the best means of doing so? I was looking into index funds and ISA but I’m still unsure.

If you plan to invest your money in the economic circle, a risk is always be with you. Either you make a profit or a loss.

(edited 1 year ago)

Reply 8

booklover1313

20

Something like Wealthify might be a good option?
But I wouldn’t put all your emergency savings into investments - keep a portion in a bank account, where the value won’t go down.

Reply 9

BeanosBeanos

3

Original post by Jeesus

I have around two grand in savings, I want to put it into something long term low risk where I’ll be getting more than what a standard savings account gives- I won’t planning on touching it within the near future. What’s the best means of doing so? I was looking into index funds and ISA but I’m still unsure.

Stocks and shares are good, but buying precious metals is better. I invested in scandium sulfate powder, and i've gained a 500% profit! Stuff like silver is good, bury it in your garden and pray to god 3 times a day and maybe you can afford to buy yourself some better advice

Reply 10

Quady

20

Original post by BeanosBeanos

Stocks and shares are good, but buying precious metals is better. I invested in scandium sulfate powder, and i've gained a 500% profit! Stuff like silver is good, bury it in your garden and pray to god 3 times a day and maybe you can afford to buy yourself some better advice

Scandium sulphate isn't a metal, let alone a precious metal.

Reply 11

Pie-person

6

Original post by Jeesus

I do yes this is it

Would just leave it as cash then and stick it into a high yield savings account. £2k is a little low for an emergency fund though, might want to build it up a bit more, unless your expenses are <£500 all-in.

Once you’re happy enough with the emergency fund amount, then you can start thinking about investing or saving for other goals. Would highly recommend an all-world equity index tracker fund as a starting point. If you’re less comfortable going all equity, then consider some bond or REIT funds. For goals, I’d create fixed-term savings accounts (either cash or money market) and add to them until you’ve hit your savings goal.

(edited 1 year ago)

What’s the best way to invest savings?

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