Ask Your Question. Experts Answer You ASAP.

Savings rates?

Sent to General Experts June 14 2006 at 4:26 AM
   

I am selling my house shortly and would like to know the best place to invest £200,000 for my pension.

 

Customer (name blocked for privacy)
Status:  Closed   Value: $15
Info Request
June 14 2006 at 6:58 PM (14 hours and 31 minutes and 46 seconds later)
         
REPLIED to Info RequestCheck Mark

Are you in the US or consider US investing options?

Picture
Lev -- Money-Tax,Investment,Collectibles -- 100% Positive Feedback on 125 General Accepts
Three years with HRB
Reply
June 15 2006 at 8:24 AM (13 hours and 26 minutes and 45 seconds later)
         
Reply to Lev's Post: I would consider investing in US, but would prefer to invest in UK. Depends on what your interest rates are. Here I can only get 4%.
Customer (name blocked for privacy)
Answer
June 15 2006 at 9:09 AM (44 minutes and 33 seconds later)
         
REPLIEDCheck Mark

I personaly using money maret account with HSBC bank that pays 4.65% - http://www.us.hsbc.com/1/2/3/personal

You may look this directory - there are some offers of 5.5% and above - http://www.bankbestrates.com/. Let me know if you need detaild on any of them.

You also may consider managed accounts like this - http://www.profutures.com/article.php/430/

Picture
Lev -- Money-Tax,Investment,Collectibles -- 100% Positive Feedback on 125 General Accepts
Three years with HRB
Reply
June 16 2006 at 7:24 AM (22 hours and 15 minutes and 39 seconds later)
         
Reply to Lev's Post: Can you tell me what APY stands for. Is it net or gross of income tax?
Customer (name blocked for privacy)
Answer
June 16 2006 at 9:19 AM (1 hour and 54 minutes and 7 seconds later)
         
ACCEPTEDCheck Mark

APY stands for Annual Percentage Yield.

APY is a standardized way of comparing investments.

APY value would depend on the number of times you’ll compound the interest each year. The more often interest is added - the more money your deposit will earn.

For instance, if you get 6% annually

  • with compounding at the end of the year, APY = 6%
  • with daily compounding, your APY = 6.183.

APY formula is - APY = (1 + r/n )n – 1 where r is the stated annual interest rate and n is the number of times you’ll compound per year.

Picture
Lev -- Money-Tax,Investment,Collectibles -- 100% Positive Feedback on 125 General Accepts
Three years with HRB
Think you can answer this question?
Login or Become an Expert

Related Answers

 

DISCLAIMER: You acknowledge that any information you may obtain from individuals you contact through use of the JustAnswer service comes from those individuals, not from JustAnswer, and that JustAnswer is not in any way responsible for any of the information these third parties may supply. The site and services are provided "as is" with no warranty and no representations are made regarding the qualification of an Expert. Responses and comments on JustAnswer are for general information and are not intended to substitute for informed professional advice (such as medical, legal, investment or accounting) and do not establish a professional-client relationship. JustAnswer is not intended or designed to address EMERGENCY QUESTIONS which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service.

JustAnswer > General