If you are looking for some simple investment options for your money then you might be surprised as to how easy it is to get more return for your money. However, finding simple investment options that met your needs is important, it doesn’t matter if your neighbour or friend is investing in a product or company and making lots of money, it is important that you look at the whole picture and work out the logic if it is right for you.
Bank accounts for investment money
If you are not looking for a high-risk investment option then choosing a bank account, an ISA is a good choice because you will have a tax-free investment option, this means that any interest you earn on this money is yours to keep and you don’t need to share it with the tax man.
While the rates are still relatively low, it is still just as important to save, so when the rates rise you will have more to invest and enabling you to make more on the interest rates available.
If you are thinking about moving your ISA it is important that you go into the bank or building society that you want to change to and fill in a form. This brings the money from your old ISA to your new ISA, removing the money over the counter and depositing into your new account is not the best way to transfer an ISA account because you can quickly lose the tax-free status.
Premium Bonds For Investing Money
It is good news that the prizes for the premium bonds have increased to 2 top winners a month. However, it doesn’t change the odds that much in the ability to win the top prizes. It is possible to put more money in premium bonds, they have gone up to £40,000 from a previous limit of £30,000, which is good news for those people who want to win the jackpot prize but the chances aren’t good. In some cases it might be more beneficial to have the money in a bank account, there is the potential to make more money.
I am still not decided about premium bonds, I can see the odds stacked against me but the money I do have invested I feel that whilst it is there it does give me hope that one day I will win more than the odd £25 in winnings.
Investing money in the stock market
This is no simple investment option, it takes a lot of time and understanding to consider investing and it is a good idea to go to the professionals to help with this type of investment. However, be warned there is the potential to lose the whole of your capital, there are options that are higher risk and lower risk, discussing the options that are best for you with the specialist will ensure you have made the right choices.
Therefore, there are simple investment choices that you can make that will allow you to make some return on the capital you have invested, but make sure you understand what you have chosen and if there are any penalties if you need access to your money quickly.