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  • FIRST POST
    scgf
    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.
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