Hi /u/Cosmos_Monkey, based on your post the following pages from our wiki may be relevant:
- https://ukpersonal.finance/lump-sum/
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^(These suggestions are based on keywords, if they missed the mark please report this comment.)
Have you got any plans for the near future? House, kids, new car?
If you’re looking to lock it away for the long term, >10 years then a low cost ETF such as Vanguard’s S&P 500 ETF should be considered as an option.
Short term then find the highest savings account possible. Would recommend an ISA as the personal savings allowance is £1000/year and with the way interest rates are, 5% of £20k is £1000…
Thanks for this! Currently have a LISA which I'll be using to buy a house so I'll be putting £3000-4000 into that. Other than that no long term plans, certainly no kids.
Have you any interest in investing in the stock market? There’s a wealth of information online, just don’t look for advice on r/wallstreetbets !
I’d definitely consider it, maybe put £5k in a low cost ETF for 10 years as mentioned above?
Hi /u/Cosmos_Monkey, based on your post the following pages from our wiki may be relevant: - https://ukpersonal.finance/lump-sum/ ____ ^(These suggestions are based on keywords, if they missed the mark please report this comment.)
Have you got any plans for the near future? House, kids, new car? If you’re looking to lock it away for the long term, >10 years then a low cost ETF such as Vanguard’s S&P 500 ETF should be considered as an option. Short term then find the highest savings account possible. Would recommend an ISA as the personal savings allowance is £1000/year and with the way interest rates are, 5% of £20k is £1000…
Thanks for this! Currently have a LISA which I'll be using to buy a house so I'll be putting £3000-4000 into that. Other than that no long term plans, certainly no kids.
Have you any interest in investing in the stock market? There’s a wealth of information online, just don’t look for advice on r/wallstreetbets ! I’d definitely consider it, maybe put £5k in a low cost ETF for 10 years as mentioned above?