I've got some money coming from a will soon, I'd like to put some away and try to earn on it

[Guest]

I remember years ago there was a government initiative where you put X amount away for 5 years and you get a good return. Is there anything like that now or what would be best to do with the money.

Thanks..

[Clare]

I see you live in Donegal Ireland so none of the are any use to you.

[Amy]

If you open a LISA the government give a good bonus but it can only be used to buy a first house or retirement.

[Niki]

Premium bonds is what I did with mine. Won something nearly every month, and it gets put back in. My husband did the same as well and wins something most months.

At a guess I reckon I've won £700 in the 8 months I've had them. Plus, you get a chance for the big payouts.

Suggested: I need to work, I need to earn

[Julie]

Nationwide have good interest rates for fixed 1/2years think it’s 6%

[Clarabella]

There’s a few 1 year fixed savings paying 6% atm. Not sure if 5 years give you much better rates tbh.

If you are on benefits you can save up to £50 a month for up to four years and get up to £1200 bonus on it.

If it’s a decent amount and you’re going to earn more than £500/£1000 interest p.a (depends on tax position), an ISA is a good idea for some of it.

If you happy risking capital then you may want to look into medium to high risk investments though things are quite volatile atm.

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[Kevin]

If you don’t need the money at this time invest it in either a Cash ISA or a fixed rate bond. You are getting 5-6% at the moment.

You can do for 1 year or more.

Rates are about the same across 1-5 year terms but the chances are that rates will start to drop in a couple of years.

[Kerry]

Help to save scheme, you can only pay in a max of £50 per calendar month and need to be in receipt of either child/working tax credits or uc.