23
Dec
2017
A question about : Less than 12 months
Hi,
I have a lump sum from a house sale and wanted advice on how to get the best return with NO RISK ( as this "fund" has to finance a divorce + wedding + honeymoon )
The timescale is 6 - 8 months and the amount is 40k.
Any ideas would be very welcome.
Michael
Best answers:
- 1) Put it in a cahoot account at 5.5%. Unfortunately you will have to pay tax. You could also use your cash ISA allowances but this will be 6K max if you have a spouse.
2) Put it in premium bonds. There is NO risk to your capital.
There is a risk that you might not win much, there is a chance you might get more and a small chance you'll get a lot more. This is a fairly safe "flutter" with no risk to your capital. - BTW - I think the prize fund return is something like 2.4% which is less than Cahoot. So if you have "average" luck then you will be worse off.
However there is of course an upside, i.e. a chance you might do better.
Depends on whether you want to take a risk with your return i.e. possibly get 0 rather than 5.5%.
There is still no risk to your original capital.
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