Thread: 60,000 pounds- best savings account

MD
I opened up a Halifax Share Save account last night,

I intend to put x amount into shares every month. You could always use you interest payments from your account to buy your shares everymonth.

I was reading about companies such as IBM who have a DRIP system - I think it works that you effectively buy parts of shares if you don't have enough to buy a whole one. You can put money in every month like a bank account but it's in shares.

I chose the option on the Halifax account to reinvest the dividend payments rather than cashing them out.

This is from one amatuer to another. I'm sure that I will be flamed by others for this but fuck-it it's only Williams forum.

^MrsQ - did you have to give a UK address on that?

Yes.

I still have a UK address. I my contracts are only one year long so apparently I'm still resident there. Bank account is registered there as well.

Am I being naughty William? They had an option for non-UK residents as well.

Dividend Reinvestment Plan
DRIP companies

^don't know mate, but not having a UK address often fcks my plans up

Have a look at the Halifax Online - UK Banks, Finance, Telephone & Internet Banking

This chap gives good advice on different banks ind investing, give him a try, its free.
www.moneysavingexpert.com/tips

If possible make sure you move the money offshore to avoid paying tax. Next as others mention inflation is running at 2-3% over the last number of years so be sure to deduct that of the top of any return. I would suggets taking a portion of it (like the 10k previously mentioned) and put that into an offshore interest bearing account. Take the rest and by exchange traded funds. They are like pasively managed mutual funds with minimal management expence ratios and no loads. Also if you are unable to put your investments in tax free offshore acounts ETF's (exchange traded funds) are the most tax efficient way to invest outside a tax sheltered account.

Don't forget that risk is a time sensitive issue....going with ultra low risk investments simply garuntees you will lose over time. If your time investment horizon is short then you may want to go with "safe" low return investments but if you are a long way from retirement you should have a significant equity exposure in your portfolio.

Just my 2 cents....if everything I just said sounds like greek to you, go see a professional money manager.

Icesave - 5.70% AER easy access online savings account have just upped their Easy Access Account interest rate to 5.95%AER

In recession cash is king as all prices and assets get cheaper
Hong Kong travel cheques are almost as good as the currency is rising with the kwai
Gold blocks are great until you want t o buy some salmon and have to shave off a few grains

Originally Posted by Spin

Icesave - 5.70% AER easy access online savings account have just upped their Easy Access Account interest rate to 5.95%AER

BANK-rupt!

Things do change quickly dont they!