I don't think any of us can look 5 years ahead. The likelihood is that interest rates in the next 3 years are going to remain this low, or go even lower.
If you are part of a couple, I would put the 30K into Ptsb online saver at 2.25% and feed it into 2 Nationwide UK regular savings accounts, with 4% interest.
I know you're probably sick of reading these stupid posts, but I am stupid when it comes to finances so I'd appreciate any help. What would you do if you had €30000 and didn't need it for 5 years? I'd prefer as risk free as possible. I would really appreciate help from anyone
Ignoring the FX risk to start with... then there is the fact that UK rates are almost 4 times the mainland Euro rates... The UK bankers are not doing that because they are nice guys!
The state savings returns have decreased dramatically in the last few years with Savings Certificates returns now at 11% over 5 years down from the previous 21%.
Here we see one of the biggest mistakes investors can make. Failing to clearly define their goals yet seeking advice on what to do with their money.
A better way to think about this problem is to seek to define what it is you are trying to achieve.
Why 5 years ? How much might you need before 5 years? Do you have other resources; savings, income etc. what happens in 5 years time? For many people its reinvestment so what is the real term here?
How old is the OP? Family circumstances? Employment? Retirement arrangements? Protection arrangements? Have they made a will?
These questions get to the heart of where the OP is and where they are trying to get to and nobody can offer any meaningful advice without properly defining these issues.
If you don't know where you are going, any map will do!
Here we see one of the biggest mistakes investors can make. Failing to clearly define their goals yet seeking advice on what to do with their money.
A better way to think about this problem is to seek to define what it is you are trying to achieve.
Why 5 years ? How much might you need before 5 years? Do you have other resources; savings, income etc. what happens in 5 years time? For many people its reinvestment so what is the real term here?
How old is the OP? Family circumstances? Employment? Retirement arrangements? Protection arrangements? Have they made a will?
These questions get to the heart of where the OP is and where they are trying to get to and nobody can offer any meaningful advice without properly defining these issues.
If you don't know where you are going, any map will do!
OP here. I should have been clearer. I'm 29, in secure employment (with contract), no plans to buy a house for at least 4 or 5 years. I'm single.
OP here. I should have been clearer. I'm 29, in secure employment (with contract), no plans to buy a house for at least 4 or 5 years. I'm single.
I'll meet you at 8pm tomorrow then...
Here we see one of the biggest mistakes investors can make. Failing to clearly define their goals yet seeking advice on what to do with their money.
A better way to think about this problem is to seek to define what it is you are trying to achieve.
Why 5 years ? How much might you need before 5 years? Do you have other resources; savings, income etc. what happens in 5 years time? For many people its reinvestment so what is the real term here?
How old is the OP? Family circumstances? Employment? Retirement arrangements? Protection arrangements? Have they made a will?
These questions get to the heart of where the OP is and where they are trying to get to and nobody can offer any meaningful advice without properly defining these issues.
If you don't know where you are going, any map will do!
I completely disagree with this. It's perfectly legitimate to ask what's the best return I can get on my money for five years. Someone who tells me that "nobody can offer any meaningful advice without properly defining these issues" is trying to sell me something.
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