After analyzing your results, we believe you may have a low appetite for risk.

Listed below are products that we feel may be of interest to you, these are based on people with similar risk scores to you, due to your low appetite for risk, there is little to no chance of losing your capital.

About your score

You scored less than 30, out of a possible score 60 points, based on this score we would assume that you prefer to keep money safe in the bank and may have only thought about but never tried investing your cash. People in this category generally take little to no risk, generally they’ll keep their money in standard bank accounts.

People in the group may have also tried online challenger banks who now offer more competitive rates compared to your high street bank. With savings it’s important to try and beat inflation, which most countries aim to hit around 2% per year, this is seen as a way of growing the economy. unfortunately, a lot of savings accounts currently offer much lower 1%, so for each year of inflation that increases over that amount it will devalue your hard-earned money, making it worth less over time.

Depending on your circumstances it could be worth looking at increasing your pension contributions as a way of reducing your tax bill and in turn making your money work for you. In the UK the government offers a LISA account, which offers 25% interest rates, there are a few restrictions to this account and they’re only really beneficial to young people who intend on moving into their first home or people who would like to save long term and use it as an additional retirement pot.

People in this risk group might want to look into adding their money into government-backed bonds and perhaps adding small amounts of money to managed ETF funds. Government-backed bonds are generally considered a safe way of investing, they do carry some minimal risks, they do generally beat inflation, the longer you can tie your money up in bonds the better the return. ETF’s on the other hand carry a higher level of risk, for that we would recommend looking for some of the safest ETF’s on the market, there are thousands to choose from, ETF’s never used to be easily accessible to the general public however you can now open trading accounts and deposit as little as £10. Below we have listed a number of options that you might want to look into.

Basic Savings Account

1%/Yr
  • This is the safest option for your money, depending on your level of risk you might want to adjust the total percentage you keep here. No matter where you save, it is important to keep a healthy cash balance

Goverment Backed Bonds

1-2%/Yr
  • Government backed bond are often seen as a safe investment and can offer better long term returns compared to most savings accounts, the rates you get are sometimes not guaranteed. Explore some options below

Stocks and Shares ISA

10%/Yr
  • It is always worth considering as an option adding some element of risk to your savings, you can look into ETFs which can be kept in an ISA, this can be a more attractive investment for most but it is essential to understand the risks involved