290k three-bed latest forex no deposit bonus 2014 in the Devonshire countryside? INVESTMENT EXTRA: Think coal is dead?
JEFF PRESTRIDGE: Is this new way of pricing insurance a force for good or a sinister ploy? Where can I invest this for six months so that it can grow while I continue to save? Where can I invest this for around six months so that it can grow while I continue to save? Firstly, congratulations on managing to save so much and for being so close to your goal. While I can see the logic in your plan to invest your cash while you build up the last bit of your deposit, I’m afraid that this is not the best course of action. Investing is for the long term. Experts typically say you should be looking to tie up your money for at least five years when you are investing in stocks and shares or funds.
Investing does not offer you a guaranteed return — your money can go down just as easily as it can go up. If you need access to your cash in the short term, and it has fallen in value, then you’ve lost money. If you can leave it for several years, on the other hand, then it will have the chance to recover. Consider what has happened in the stock market at different points over the past year or so. 10,000 in the FTSE 100 in May last year, with a view to taking it out six months later.
On May 8, it stood at 7,046. Six months later, on November 9, it had dropped to 6,295 — almost 11 per cent lower. 8,934 of your hard-earned savings left. And since then, the stock market has been all over the place with all the uncertainty surrounding the EU referendum.
Boring as it may seem, if you need to access your money in the near future, you’re going to have to stick with a simple savings account. You can find the best deals each week in our savings tables. Currently, Virgin Money has an easy-access account paying 1. 26 per cent, and Charter Savings has a one-year fixed deal at 1.