Investment advice needed

[Dave Davenport]

Well it's taken three and a half years but I've just recieved a final dividend cheque from Price Waterhouse Coopers relating to unpaid wages from when the firm I was working for went into receivership in 2008. The accompanying letter urges me to 'bank this cheque at the first available opportunity'.

I've made up my mind to spend a large proportion of it straight away, but after buying a pint at the Wetherspoons (£2.45) I'll still be left with 24p and I'm not sure of the best way to invest it. I'd like it to generate a small income for my old age whilst minimising my tax liabilities, should I write back to PWC and ask their advice?

 

[smokeysmoo]

Send it to me and I'll take care of it for you*



*remember investments can go down as well as up and I offer no assurance you will even get back your original investment

 

[BigonaBianchi]

x 24 penny shares

 

[User269]

Interest rates on savings are insanely low at present. If you want a risk and tax free investment a cash ISA's a good bet. Take a look at Money Supermarket.
Whatever you do, don't buy a pint at my local as it costs £3.20 and you'll have lost everything.

 

[asterix]

Be aware that when you cash such a large sum, it will trigger a response from your bank. First they will do the money laundering checks and inform HMRC. Should you pass this test they will then phone you and invite you to discuss investing the money with them. They will suggest that they have your interests at heart; they lie, they just want your money.

Spend it on beer.

 

[the snail]

I would put the money into Ruddles Best, at £1.60/pint in Weatherspoon's, this would allow a return of 1.5 pints at current rates, although beer doesn't hold its value well - probably not the best long-term investment.

 

[simon.r]

Gold's generally considered a safe haven. 24p will get you about 1/50th of a gram of 9 carat at the moment.

 

[Red Light]

Buy some paperclips

 

[Flying Dodo]

I charge my time at £200/hour, so by the time we've filled out a factfind with your personal details and completed a comprehensive psychometric financial risk tolerance questionnaire looking at your capacity for financial loss and level of investment risk you're prepared to take, analysed the results and prepared an in depth report for you, and then discussed the issues with you, and made any appropriate adjustments, realistically my bill for giving you proper advice will be towards £1,000.

 

[Red Light]

I charge my time at £200/hour, so by the time we've filled out a factfind with your personal details and completed a comprehensive psychometric financial risk tolerance questionnaire looking at your capacity for financial loss and level of investment risk you're prepared to take, analysed the results and prepared an in depth report for you, and then discussed the issues with you, and made any appropriate adjustments, realistically my bill for giving you proper advice will be towards £1,000.

Yes, but think of all the money he'll make from the mis-selling claim settlement

 

[Archie_tect]

Don't write back to PWC... you'll be 12p in the red even with a 2nd class stamp.

 

[LiteratureGeek]

Buy some paperclips

What a cool article! And definately proof you can make something out of nothing!