I currently have 95% of my savings in premium bonds which on average return 3.5% ish but are very very safe and its what I would like to use towards a house deposit in 5ish years time but ofc will loose value to inflation.
My grandad said I should sack off the premium bonds and max out my stocks and shares ISA (£20k limit per year). He has specifically said I should invest in these companies for a longggg hold:
\- HSBC
\- AVIVA
\- Rio Tinto
\- SSE
\- IG group
What does everyone think about these stocks specifically? He said I should focus on high dividend paying stock and somewhat avoid indexs due to slow growth (although i dont agree on the avoiding indexs!).
I have been investing small sums mostly testing the water and have been doing alright so far and currently have small amounts in amazon, meta, alamos gold, nvidia, microsoft S&P500 and broadcom. Thanks in advance!