Safe Investment Options

[thescullster]

Hi all

If you were going to hand over £50k as an inheritance payout to an
adult, where would you suggest they put it?

Not interested in high risk.
Probably wouldn't want it locked away for long periods (1 or 3 years may
be an option).
Concerns about Internet security and fraud, but also vulnerable to covid
so less inclined to go to bank in person.

Ideas anyone (other than under the matress or in your pocket that is)

Thanks

Phil

[AnthonyL]

Post by thescullster
Hi all
If you were going to hand over £50k as an inheritance payout to an
adult, where would you suggest they put it?
Not interested in high risk.
Probably wouldn't want it locked away for long periods (1 or 3 years may
be an option).
Concerns about Internet security and fraud, but also vulnerable to covid
so less inclined to go to bank in person.
Ideas anyone (other than under the matress or in your pocket that is)

By safe then I presume you are not wanting to invest but rather to
save, in which case have a look at:

https://www.hl.co.uk/investment-services/active-savings/latest-rates-and-products

There are a range of withdraw immediately to up to 3 year fixed terms.

The produces are FSCS covered up to the statutory £85k.

When logging into Hargreaves if you have any Active Savings you can
only proceed by entering the code that will be sent to your mobile.

Monies can only be transferred to your nominated bank account.

[thescullster]

Post by AnthonyL

Post by thescullster
Hi all
If you were going to hand over £50k as an inheritance payout to an
adult, where would you suggest they put it?
Not interested in high risk.
Probably wouldn't want it locked away for long periods (1 or 3 years may
be an option).
Concerns about Internet security and fraud, but also vulnerable to covid
so less inclined to go to bank in person.
Ideas anyone (other than under the matress or in your pocket that is)

By safe then I presume you are not wanting to invest but rather to
https://www.hl.co.uk/investment-services/active-savings/latest-rates-and-products
There are a range of withdraw immediately to up to 3 year fixed terms.
The produces are FSCS covered up to the statutory £85k.
When logging into Hargreaves if you have any Active Savings you can
only proceed by entering the code that will be sent to your mobile.
Monies can only be transferred to your nominated bank account.

Thanks Anthony

That looks like an interesting option - do you use it HL yourself?

Phil

[AnthonyL]

Post by thescullster

Post by AnthonyL

Post by thescullster
Hi all
If you were going to hand over £50k as an inheritance payout to an
adult, where would you suggest they put it?
Not interested in high risk.
Probably wouldn't want it locked away for long periods (1 or 3 years may
be an option).
Concerns about Internet security and fraud, but also vulnerable to covid
so less inclined to go to bank in person.
Ideas anyone (other than under the matress or in your pocket that is)

By safe then I presume you are not wanting to invest but rather to
https://www.hl.co.uk/investment-services/active-savings/latest-rates-and-products
There are a range of withdraw immediately to up to 3 year fixed terms.
The produces are FSCS covered up to the statutory £85k.
When logging into Hargreaves if you have any Active Savings you can
only proceed by entering the code that will be sent to your mobile.
Monies can only be transferred to your nominated bank account.

Thanks Anthony
That looks like an interesting option - do you use it HL yourself?

I am a HL customer from several years back though they are no longer
my primary investment platform, and if you were looking at investing
into funds then they would not be the top of my list simply because at
0.45% platform charges there are better deals.

But I have extensively used their Active Savings as it is very
convenient, easy and as a product matures it is quite effortless to
either withdraw the funds or move into another product. So I have
some in the "no notice" savings, some in the 3 and 6 month options.
I've not put any into saving longer than that because for further
ahead I'd rather put my money into an investment, but then I've been
doing that for 20+ years so I'm comfortable with the associated risks.

[thescullster]

Post by AnthonyL

Post by thescullster
Hi all
If you were going to hand over £50k as an inheritance payout to an
adult, where would you suggest they put it?
Not interested in high risk.
Probably wouldn't want it locked away for long periods (1 or 3 years may
be an option).
Concerns about Internet security and fraud, but also vulnerable to covid
so less inclined to go to bank in person.
Ideas anyone (other than under the matress or in your pocket that is)

By safe then I presume you are not wanting to invest but rather to
https://www.hl.co.uk/investment-services/active-savings/latest-rates-and-products
There are a range of withdraw immediately to up to 3 year fixed terms.
The produces are FSCS covered up to the statutory £85k.
When logging into Hargreaves if you have any Active Savings you can
only proceed by entering the code that will be sent to your mobile.
Monies can only be transferred to your nominated bank account.

Hi Anthony

I have just seen the thread titled Woodford and Hargreaves Lansdown
which doesn't inspire confidence in HL

Phil

[AnthonyL]

Post by thescullster

Post by AnthonyL

Post by thescullster
Hi all
If you were going to hand over £50k as an inheritance payout to an
adult, where would you suggest they put it?
Not interested in high risk.
Probably wouldn't want it locked away for long periods (1 or 3 years may
be an option).
Concerns about Internet security and fraud, but also vulnerable to covid
so less inclined to go to bank in person.
Ideas anyone (other than under the matress or in your pocket that is)

By safe then I presume you are not wanting to invest but rather to
https://www.hl.co.uk/investment-services/active-savings/latest-rates-and-products
There are a range of withdraw immediately to up to 3 year fixed terms.
The produces are FSCS covered up to the statutory £85k.
When logging into Hargreaves if you have any Active Savings you can
only proceed by entering the code that will be sent to your mobile.
Monies can only be transferred to your nominated bank account.

Hi Anthony
I have just seen the thread titled Woodford and Hargreaves Lansdown
which doesn't inspire confidence in HL

That has no impact on the savings accounts they are promoting, which
you can find yourself independently if you shop around - it's just
convenient and saves lots of searching for products I'd struggle to
find.

[Chris Green]

Post by thescullster
Hi all
If you were going to hand over £50k as an inheritance payout to an
adult, where would you suggest they put it?
Not interested in high risk.
Probably wouldn't want it locked away for long periods (1 or 3 years may
be an option).
Concerns about Internet security and fraud, but also vulnerable to covid
so less inclined to go to bank in person.
Ideas anyone (other than under the matress or in your pocket that is)

I think "under the matress or in your pocket" are probably the best
options at the moment given the trivial (to almost non-existent)
interest rates being offered at the moment.

Pay off absolutely everything that you owe money to first (mortgage,
credit cards, any other loans), then buy something you really, really
want. :-)

[thescullster]

Post by Chris Green

Post by thescullster
Hi all
If you were going to hand over £50k as an inheritance payout to an
adult, where would you suggest they put it?
Not interested in high risk.
Probably wouldn't want it locked away for long periods (1 or 3 years may
be an option).
Concerns about Internet security and fraud, but also vulnerable to covid
so less inclined to go to bank in person.
Ideas anyone (other than under the matress or in your pocket that is)

I think "under the matress or in your pocket" are probably the best
options at the moment given the trivial (to almost non-existent)
interest rates being offered at the moment.
Pay off absolutely everything that you owe money to first (mortgage,
credit cards, any other loans), then buy something you really, really
want. :-)

Hi Chris

The beneficiary is mid-twenties and does not have property, so his only
real debt is a student loan.

It is not possible to pay these off as far as I know and, given that
repayment is salary dependent, it may be that it is preferable to leave
that one hanging.

Phil

[Norman Wells]

Post by thescullster

Post by Chris Green

Post by thescullster
Hi all
If you were going to hand over £50k as an inheritance payout to an
adult, where would you suggest they put it?
Not interested in high risk.
Probably wouldn't want it locked away for long periods (1 or 3 years may
be an option).
Concerns about Internet security and fraud, but also vulnerable to covid
so less inclined to go to bank in person.
Ideas anyone (other than under the matress or in your pocket that is)

I think "under the matress or in your pocket" are probably the best
options at the moment given the trivial (to almost non-existent)
interest rates being offered at the moment.
Pay off absolutely everything that you owe money to first (mortgage,
credit cards, any other loans), then buy something you really, really
want. :-)

Hi Chris
The beneficiary is mid-twenties and does not have property, so his only
real debt is a student loan.
It is not possible to pay these off as far as I know and, given that
repayment is salary dependent, it may be that it is preferable to leave
that one hanging.

If he's in his mid-twenties, he's classed as an adult, and is assumed to
be able to manage his own affairs. Unless he's asked you, why do you
think it's your businaess to suggest what he does with it?

[Chris Green]

Post by thescullster

Post by Chris Green

Post by thescullster
Hi all
If you were going to hand over £50k as an inheritance payout to an
adult, where would you suggest they put it?
Not interested in high risk.
Probably wouldn't want it locked away for long periods (1 or 3 years may
be an option).
Concerns about Internet security and fraud, but also vulnerable to covid
so less inclined to go to bank in person.
Ideas anyone (other than under the matress or in your pocket that is)

I think "under the matress or in your pocket" are probably the best
options at the moment given the trivial (to almost non-existent)
interest rates being offered at the moment.
Pay off absolutely everything that you owe money to first (mortgage,
credit cards, any other loans), then buy something you really, really
want. :-)

Hi Chris
The beneficiary is mid-twenties and does not have property, so his only
real debt is a student loan.
It is not possible to pay these off as far as I know and, given that
repayment is salary dependent, it may be that it is preferable to leave
that one hanging.

Complete disaster are student loans, a "heads I win, tails you lose"
set up if ever there was one. I wonder what would happen if you took
them to the small claims court if/when they refuse to let you pay off
what you owe (though I suppose that is a sort of backwards sort of
claim).

As regards it being salary dependent that points you more towards
earning as little as possible and spending the nest egg! :-)