Search by category

What is the best savings plan?

by nell1174, 10 months ago•Open Question

I want to save equal monthly amounts and get a lump some at the end of a period. which is the best product for me?

Additional Information

added 10 months ago...

I meant should i go for OEICs or Unit Trust?

OEICs•Investing

report post•add thanks•add to watchlist

Answers (2)

Hi,

It depends on...

1) How long you want to save for
2) The amount you want to save
3) How much you want to get
4) What level of risk you're willing to take

by G-Man, 10 months ago

report post•add thanks•add comment

Hi,

OEICs and Unit Trusts are virtually identical - they're both open ended investment vehicles. It's just the laws under which they've been formed that are (slightly) different, so it doesn't matter.

by G-Man, 10 months ago

report post•add thanks•add comment

Posts within the money.co.uk community represent the views, experiences and opinions of members and experts only. They should not be taken as financial advice and should not be followed without further research.

Get our free money saving newsletter

Join over 480,000 other subscribers who grab our expert money tips, unmissable money guides & hottest bargains each week in our special email...