If you have not invested in the market before, you might want to consider a bond fund. A fund like M&G Strategic Bond Fund, or Invesco Perpetual Corporate bond would be worth looking at. That said, if the market does rise, you may well not do as well with bonds as with shares or an Equity or Equity Income fund. But if the market tanks, you should not lose as much. Take a good look at some charts to see how volatile some of these Funds can be before investing. Hargreaves Lansdown has useful chart facility which shows past performance either with or without dividends added. The difference is striking. To save on initial costs,take a look at discount brokers such as H-L,and thereby save initial 4-5% set up fee (but not subsequent annual fees for the most part). A good bond (or Equity Income) Fund should pay an income of around 4-5%, possibly more (but then more risk). If you do go for bonds, be prepared to review the investment if interest rates generally should rise,as if that happens, bond capital values may well fall,as the income paid by the bond fund may not then be as valuable. Finally, if you are not prepared to gamble,and maybe lose money, then stick with cash. That said, market returns can be much better - or much worse - than cash. This is just my opinion.i.e.not advice,which I am not qualified to offer.