Dear keithyb-ga
I am not a Financial Services Authority authorised financial advisor
so I cannot give you specific financial advice. Also, may I point out
the terms and conditions of use of Goggle Answers:
"Information provided via the Services is not intended to substitute
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legal, investment, accounting, or other professional advice. If you
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Having said all that, I can point you the direction of where to find
out about the best returns on your investment.
The first thing you must consider is your attitude to risk. Often the
higher the risk, the greater return. The downside is you could lose it
all or most of it. Stocks and shares are a good example. Two years ago
they were at their height now they are down and many people have lost
money. Some optimists however, would argue that now is a good time to
buy.
Secondly, you will have to decide how long you would wish to tie your
money up for and whether you would need quick access to it. A basic
savings account gives you quick access ,but a notice account may
require you to give 60 days notice of intention to withdraw.
If you're thinking in terms of high returns and risk I recommend you
consult a registered independent financial advisor who will be able to
give you good, impartial advice about the vast range of products
currently available to the investor.
Use this site to find an advisor near you - http://www.ifap.org.uk/
Have you used your tax free ISA allowance this year? You pay no tax on
savings or investments in an ISA. You are allowed to invest £3000 a
year in a cash ISA. If you are married, your partner can also save
£3000.
There are over 850 savings accounts on offer in the UK and rates often
change. I cannot recommend any particular account as I do not know
your needs or attitude to risk. Use these sites to find the best on
offer to meet your requirements.
Best savings rates currently on offer
http://www.rate.co.uk/savings/index.html
Best ISA rates currently on offer
http://www.rate.co.uk/savings/bestisarates.html
Moneynet.co.uk has substantial information and a search engine to find
the best accounts.
http://www.moneynet.co.uk/saving/savings_accounts/index.shtml
Monetextra – requires registration
http://www.moneyextra.com/investment/
Additional sources of information:
BBC Personal Finance advice
http://www.bbc.co.uk/business/money/youandyourmoney/savings/index.shtml
Motley Fool
http://www.fool.co.uk/
Outside of the internet, I recommend the following UK magazines
available at your newsagent: What Investment, and Financial Mail Money
Magazine.
I trust this has answered your question, if not, please ask for
clarification of any part of this research before rating the answer.
answerfinder-ga
Search Strategy
"personal finance" advice uk
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ifa "financial advisor"
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