20k spare ..how to invest

[Mr.D]

I've got 20k lying around ( maybe 30). Its really just sitting there.
Suggest something to do with it ...either investment or business opportunity (nothing illegal).

Not property ..property is boring. Something that could make vast sums of money in a few years but still leave a wry grin over the absurdity of it all.

[FruitBat]

Premium Bonds.

[Lawrenzini]

Originally Posted by FruitBat

Premium Bonds.

The maximum is about 2k isn't it?

Edit: I was wrong you are allowd 30k

[metropolis]

how about a racehorse

[Badlands]

Give it to me, yer tightarse.

[Badlands]

Put a Depoist down for a Bentley Convertible and you will make money on it.

I have just been to the launch of it tonight and its mint,

No kid, you will make money.

[Reign-Mack]

invest in arms or sponsor the local drug dealer

[dUnKle]

Originally Posted by Lawrenzini

The maximum is about 2k isn't it?

Edit: I was wrong you are allowd 30k

At risk of sounding a right numpty - what exactly are premimum bonds

other half and I are saving for our first house - currently have close to 30 grand saved and going to give it another 12 months hard save (hopefully another 10 grand)

Would premium bonds be ok for us ?

[Achy]

Premium Bonds are from National Savings (The old Post Office).

They are basically like a lottery.

You invest your money, anything from £100 - £30,000 and you are entered into a monthly draw....

You are allocated a number for every £1 you invest which are entered into a draw every month for as long as you have the money invested in them.

You can sell them at any time and take your original stake back.

Prizes range from £50 - £1,000,000.

Sounds good? Inflation can eat away at your money over time, especially if you dont win anything.

The odds for winning a prize, for every £1 you invest is 24,000 - 1

I suppose it's better than the lottery as you can take your money back at any time.

[FruitBat]

Originally Posted by DuncanWardle

At risk of sounding a right numpty - what exactly are premimum bonds

other half and I are saving for our first house - currently have close to 30 grand saved and going to give it another 12 months hard save (hopefully another 10 grand)

Would premium bonds be ok for us ?

Lawrenzini's link should give you the gist.
The official stuff is here.
The main points are:
They don't go into the draw until you've had them for a full calendar month.
You can cash them in at any time.
There are 2 top prizes of 1 million quid every month.

It is gambling . You are gambling with the interest that you might be earning. I think they got quite popular recently with interest rates being low.

I had nearly 20k worth about ten years ago. I never won more than 50 quid and I probably would have been better off sticking it in a deposit account. I had to cash most of them in when I was "between jobs".

[LFC_SL]

Well I am going uni this year...

[MrBlofeldt]

I would highly recommend Premium bonds, I've had £500 for almost a year and have had two wins, both cheques for £50, now I don't know exactly how interest is calculated, but I'm pretty sure I wouldn't have earned that much if I'd stuck it in the bank !

buy some premium bonds, I know quite a few people who have several thousand pounds worth an they tend to win at least three or four times a year, usually £50, but some have won substantially more !

premium bonds...

[gpa]

I am sure I have read something that said that the average return is around 4% and ofcourse its tax free and you can get your money back when you wish.

[damage]

this suggests 2.9

http://www.nsandi.com/products/pb/rates.jsp

perhaps the tex free nature accounts for rest

[Tiesto]

I know you said property was a no no and boring b u t if you invested in buying a property outright in Romania (busec ) you would double your money within 2 years .

Romania will be in the EU by 2008, look at how the prices quadrupled in Prague , Croatia etc.

Sitting on my bum and doubling my money is'nt boring to me.