What to do with £5000

Society Business and Career
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I have managed to save up the said amount!

Whats the best thing i can do with it? apart from spending it :slight_smile:

Any financial whizizs want to give some free advice.

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Re: What to do with £5000

PS I have a bought a house.

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Re: What to do with £5000

http://www.paklinks.com/gs/wedding/318498-looking-rishtas-post-here.html

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Re: What to do with £5000

Save some more … saving helps .. and then invest it in a property …shared ownership maybe? :hmmm:

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Re: What to do with £5000

Ive just bought a house...for myself!

But is a house a good investment in these turbulent times?

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Re: What to do with £5000

Depends which part of the world you live in ... but here in the UK , the property market is the strongest option for us ....

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Re: What to do with £5000

Yup in the UK too!

Do you mean buying property and then renting out?

or buying it, doing up the house and selling it?

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Re: What to do with £5000

well done for saving that amount! how did you manage that?

I would say invest in one of Fidelity's European or China fund. The minimum investment for the China fund is £2,500 so you'll have some money still left over. Let it accumulate for a period of 5 years and then with the money you get from it, you will have enough to buy another house. InshAllah. Thats what I've done.

Or invest some in the stock market.

But as Chicken Biryani said, you could always save some more.

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Re: What to do with £5000

I was missold some insurance which i managed to get back. (All by myself, without involving any company who wanted 20%).

I dont know anything about the Fidelity or China fund so will have to look into it. Does it involve any risk? How does it work? what it the rate of return? how much did you invest and how much did you get back? (sorry i know its a private question) :)

Stock is always good but i have but zero knowledge of how to do it. lol

Will definitely save more....its a good habit.

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Re: What to do with £5000

oh and also,,...how do i buy shares?

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Re: What to do with £5000

Yes invest it on me, i will spend it on 'Healthy Eating' :D

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Re: What to do with £5000

property is always a good choice (safe investment), i would also say GOLD or GOLD STOCKS are a very safe investment, however if you want shortterm investments then there are GICs, mutual funds etc, where you can make quick but not huge gains and move on, share market is again a gamble, there are multiple options, i have mine on GICs and i find them suitable but thats my opinion :k:

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can u give us some more information on the china fund

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Whats a GIC?

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Re: What to do with £5000

Guaranteed Investment Certificates, i am not sure if they are available in England, however i would suggest talk to your local bank and see if they offer something similar :k:

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Re: What to do with £5000

Stone, normally you cant buy a house with this amount of money , but with shared ownership, sometimes you can either rent it out or even do up a house and then sell it and get a bigger chunk back ... either ways property is the most secure investment at the moment. The market is going to start picking up in a few months , infact its already doing alot better then last year ...

If you dont know much about the stock market , then please dont jump into it .. its a high risk area and chances you are going to lose more then you will win ....

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Re: What to do with £5000

One other thing I forgot to mention .. Three years back , the company i used to work for … was doing really well on the stock exchange … so I bought a few shares .. I think senior level employees are given that benefit in employment .. that did benefit me .. mainly coz as an employee you know the company better and can feel and predict how you are doing in the stock market …so might wanna explore that front and invest in some extra shares :hmmm:

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Re: What to do with £5000

cb :wave:

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Re: What to do with £5000

put in the emergency fun (savings account) and forget about it !

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Re: What to do with £5000

can i have half of it ? :faizy: