Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@. Skimlinks & other affiliated links are turned on

    Savings advice needed
    • #1
    • 11th Nov 12, 6:23 PM
    Savings advice needed 11th Nov 12 at 6:23 PM
    Hi guys. I have an inheritance of 30K coming my way soon and am wondering what to do with it.

    I earn around 42K a year and am 55 years old. I have an 85K mortgage, a 5 year 12K loan just taken out with the Derbyshire at 5.6% and a 10K car finance PCP plan which is interest free and costs 172 a month.

    My mortgage runs until I'm 65 and is the one thing which would stop me retiring at 60. I am a teacher and will have been teaching for 40 years when I reach the age of 61.

    I've never early had savings before having always preferred to enjoy life and spend everything I earned.

    Not really sure what to do with this 30K windfall. Just wondering if anyone has any advice for me. Any advice would be most gratefully received.
Page 1
Welcome to our new Forum!

Our aim's to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

262Posts Today

1,184Users online

Martin's Twitter