I've 100k of savings, 100K of mortgage debt, 80k of equality & a steady job how can I best invest the 100K?
I rent 2 properties and I don't want another one. I just know I've been losing a ton of money be allowing it to sit in a savings account for so long(2 plus years).
You should seriously think about simply paying off the mortgage. Clearing debt is often the best investment you can make. You should check whether there are any penalties first for doing so.
If you do decide to invest, if you are just looking at a two year period, cash savings accounts are your only realistic option. If you invest in the stock market or anything where the capital value will go down as well as up you should not be investing for less than 5 years.
Since the savings rates are so poor, this again points to repaying debt.
If you do invest, use ISA since the returns are tax-free.
Disclaimer:
The answers above are for guidance only and should not be acted upon without you receiving independent financial advice relevant to your circumstances. To find an IFA please go to http://www.unbiased.co.uk
Danny Cox, Certified Financial Planner, Hargreaves Lansdown
Chartered Financial Planner, Certified Financial Planner CM and Head of Advice at Hargreaves Lansdown.
