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A Fin24 user wants to invest to get the best returns, yet with easy access to his money. He writes:
I need some urgent advice.
I need to invest money soon and need to know where I can put my money with a 100% guarantee and with the best returns.
I also need my money to be available whenever I need it.
Can anyone help me with this question?
READ: Top investment strategies
Tracey Want, head of strategic marketing at Investment Solutions, responds:
Your objectives are quite conflicted, requiring a 100% guarantee means you won’t be in the market for the best possible return, after all risk and return go hand in hand.
Your objectives would need to be prioritised on a scale.
It seems, though, that capital preservation and immediate access trump your needs, and if so, then a short term deposit is a possibility, but returns there are generally not that attractive.
You can do some online comparisons with various banks. You can also look at some high yielding money market instruments through companies offering unit trust portfolios such as ourselves.
The notice period there is typically just a day or two depending on when the instruction is received, but the yields can be more competitive than that received through the bank.
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