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tomo222

1Yr Investment Option - alternatives to savings a/c

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Hi,

I'm in the fortunate position of having being able to amass six figure savings recently that I intend to begin investing in property, but not until 2021 due to personal circumstances. Obviously I want to try and keep my money rising with inflation until then, not stale in bank account. The best savings rate out in the UK market now are around 1.5% for a 1 Yr fix. Not amazing, but better than nothing. 

Bit weary of going into the stock market with this money with a short term view, especially as there is a mooted correction in FTSE coming in the next 24 months. Read a lot about P2P lending, but sounds like a lot of hassle as would need to spread my savings between a lot of accounts.

Does anyone have any other ideas (relatively low risk) for where I can leave my money for a 1 year period that will likely achieve more than 2% growth, or beat inflation?

Thanks in advance!

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If you are wanting to use the money in a years time then unfortunately the best and safest option is probably to have it in a 1 year fixed savings account. Investment isn't really recommended for short time periods.

If you look on Money.co.uk there are some 1 year fixes paying 1.6/1.7%.

 

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