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    So, I inherited 10,000€ from my grandmother and don't just want it lounging on my account, as I will inevitably end up (slowly but surely) spending it on trivial, unnecessary stuff.
    I have absolutely no clue about finances, investing, etc. and will schedule an appointment with my bank soon, but I wanted to give it a shot on TSR, just to see what you all may have to say on the topic. (I'm sure you guys think I'm just underscoring my cluelessness by asking for advice on here, but some of you seem rather savvy in the monetary/economics department)

    What would you do with 10,000€ if you wanted to secure it for future emergencies/other expenses?
    It isn't really that much money, so I can't buy a house or anything, obviously. Investing in a company (at most a start-up with 10k) is too risky. I want something relatively secure.

    I have heard about this gold trend with companies, etc. and might be interested in going that route, but are 10k even enough to buy a decent amount and do individuals even have the chance to acquire gold in that form? Would it even be a good investment? Any thoughts?
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    (Original post by Desideria)
    So, I inherited 10,000€ from my grandmother and don't just want it lounging on my account, as I will inevitably end up (slowly but surely) spending it on trivial, unnecessary stuff.
    I have absolutely no clue about finances, investing, etc. and will schedule an appointment with my bank soon, but I wanted to give it a shot on TSR, just to see what you all may have to say on the topic. (I'm sure you guys think I'm just underscoring my cluelessness by asking for advice on here, but some of you seem rather savvy in the monetary/economics department)

    What would you do with 10,000€ if you wanted to secure it for future emergencies/other expenses?
    It isn't really that much money, so I can't buy a house or anything, obviously. Investing in a company (at most a start-up with 10k) is too risky. I want something relatively secure.

    I have heard about this gold trend with companies, etc. and might be interested in going that route, but are 10k even enough to buy a decent amount and do individuals even have the chance to acquire gold in that form? Would it even be a good investment? Any thoughts?

    Put it in an ISA with good interest?
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    premium bonds keep your money safe with regular prizes if you are not unlucky. you could also win big ....
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    (Original post by TheOpinion)
    Put it in an ISA with good interest?
    That was going to be my suggestion too.

    If you don't want to be able to spend it then you could put it in a 3 or 5 year fixed rate ISA, which means you can't withdraw money from it until that time is up without paying a penalty charge. Plus the interest is much higher on fixed rate ISAs than on regular ones, although regular ones are good too! ISAs are tax free, which is their major upside along with the interest.
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    (Original post by TheOpinion)
    Put it in an ISA with good interest?
    I don't live in the UK currently, but of course they have saving accounts here too. I was thinking of something even more secure though, in case there should be some dreaded financial crisis. Who knows.

    Thanks, anyway, for the idea.
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    (Original post by Desideria)
    I don't live in the UK currently, but of course they have saving accounts here too. I was thinking of something even more secure though, in case there should be some dreaded financial crisis.
    If you do go for a UK account of some description anything covered by the FSCS will be protected.

    Anything issued by the government will be the safest option, though the trade-off is that it will give the lowest rate of return.

    Speak to an independent financial advisor (IFA) as well as your bank as they will be able to advise on a range of investments rather than just what your bank offers.
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    (Original post by Desideria)
    I don't live in the UK currently, but of course they have saving accounts here too. I was thinking of something even more secure though, in case there should be some dreaded financial crisis. Who knows.

    Thanks, anyway, for the idea.
    10k isnt going to do much to insulate you from a financial collapse should such an event occur. You'd be better off buying a truck full of tinned food and a shotgun.

    Infact 10k isnt going to do much anywhere. I wouldn't be so worried about investing it, just chuck it into a cash savings account and use it towards a house deposit.
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    (Original post by Duncan2012)
    Speak to an independent financial advisor (IFA) as well as your bank as they will be able to advise on a range of investments rather than just what your bank offers.
    Really not worth it for 10k imo. The fees will eat up a huge chunk of it.
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    For serious 10k is **** all. Gold isn't really an investment as such, more a store of wealth/speculation.


    Put it in a savings account and learn some discipline


    (Original post by Reue)
    £10k isnt going to do much to insulate you from a financial collapse should such an event occur. You'd be better off buying a truck full of tinned food and a shotgun.

    Infact £10k isnt going to do much anywhere. I wouldn't be so worried about investing it, just chuck it into a cash savings account and use it towards a house deposit.
    Is this advice? :sly:
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    (Original post by Feel Tha Bern)
    Is this advice? :sly:
    For someone worried about a financial collapse; yes.
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    (Original post by Desideria)
    So, I inherited 10,000€ from my grandmother and don't just want it lounging on my account, as I will inevitably end up (slowly but surely) spending it on trivial, unnecessary stuff.
    I have absolutely no clue about finances, investing, etc. and will schedule an appointment with my bank soon, but I wanted to give it a shot on TSR, just to see what you all may have to say on the topic. (I'm sure you guys think I'm just underscoring my cluelessness by asking for advice on here, but some of you seem rather savvy in the monetary/economics department)

    What would you do with 10,000€ if you wanted to secure it for future emergencies/other expenses?
    It isn't really that much money, so I can't buy a house or anything, obviously. Investing in a company (at most a start-up with 10k) is too risky. I want something relatively secure.

    I have heard about this gold trend with companies, etc. and might be interested in going that route, but are 10k even enough to buy a decent amount and do individuals even have the chance to acquire gold in that form? Would it even be a good investment? Any thoughts?

    The Gold market has suffered lately, along with others in the decline of its price on the markets. It may be wise to divide your capital into four sets. I would most definitely put one set in an ISA. Maybe then go and seek advice from a Financial Advisor. You might want to look at purchasing shares long hold. Perhaps, bank shares. Premium bonds etc. But if this all sounds bit foreign a financial advisor will should explain your options. :-)
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    (Original post by Reue)
    Really not worth it for 10k imo. The fees will eat up a huge chunk of it.
    Should be around £200-300 for a couple of hours work. Arguably worth it for someone living outside the UK with a very low tolerance to risk and no investment knowledge.
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    (Original post by Duncan2012)
    Should be around £200-300 for a couple of hours work. Arguably worth it for someone living outside the UK with a very low tolerance to risk and no investment knowledge.
    If they have no tolerance of risk, why would they throw away 5% of the total amount in the first place? At least a normal savings account won't eat into the capital.

    The OP hasn't said which country he's in since the circumstances could be very different to giving advice in the UK.
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    (Original post by Desideria)
    What would you do with 10,000€ if you wanted to secure it for future emergencies/other expenses?
    It isn't really that much money, so I can't buy a house or anything, obviously. Investing in a company (at most a start-up with 10k) is too risky. I want something relatively secure.

    I have heard about this gold trend with companies, etc. and might be interested in going that route, but are 10k even enough to buy a decent amount and do individuals even have the chance to acquire gold in that form? Would it even be a good investment? Any thoughts?
    depends on how long you want to hold i mean gold bars or coins are just as liquid as a roll of twenty's personally look at buying a nice piece i have link to collectable jewellery traders and can find something but in bars now i can find a quote on 8t.oz and a 20g bar of 24ct but the performance is good say in 5 years or a decade shorthand due to the spot price you would gain more on the correct jewellery not to mention using it to wear as well
    http://www.ebay.co.uk/itm/4008660158...%3AMEBIDX%3AIT that's on the market for £8,000 with a retail estimate of £28,000 so even if you get half of retail you could have £6,000 almost overnight
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    With minimal investment knowledge i'd either track a major index or open the highest interest savings accounts that you can.
 
 
 
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