Inherited £200k

JaggedyKools

Hello Everyone

My brother and I recently inherited £100k each and are thinking about what to do with it, either individually or together. We are not looking to pay off mortgages and dont have any debts and want to use the money wisely to get a maximum return - open to all options including:

- savings accounts
- ISAs
- stocks, shares, funds
- property
- ????

Any advice much appreciated.

whu

HI

I think you should consider seeing an IFA with that amount of money when you have worked out your short/medium/long term plans for the money (presumably your ages will play a part in deciding) -also what is your pension position?

JaggedyKools

Thanks for the reply.

We both have good pensions so that isnt a problem. We are in our early 30s. We have a family IFA that we can go to, however we want to do something 'exciting' with the money - not necessarily have it languishing in a savings account somewhere. We both feel that as our normal financial positions are sound, this presents an opportunity of a lifetime to really make some cash....we're just not sure how?!

isofa

You could look at investing in small companies perhaps as a venture capitalist, but obviously you'd need to do some serious research and pick the company wisely - obviously this is risky, but if is pays off, big rewards will be there for the taking. And it's certainly more exciting and life changing to the people you are working with, than funds or savings accounts.

Jonbvn

JaggedyKools wrote: »

Thanks for the reply.

We both have good pensions so that isnt a problem. We are in our early 30s. We have a family IFA that we can go to, however we want to do something 'exciting' with the money - not necessarily have it languishing in a savings account somewhere. We both feel that as our normal financial positions are sound, this presents an opportunity of a lifetime to really make some cash....we're just not sure how?!

We're not into exciting on here;) We like sound, sensible and boring investments and savings.

I would suggest you stay out of property at the moment. I am not sure why you would not want to pay off your mortgage?

An interesting idea would be to go into VCT's which are (or used to be) tax efficient.
http://www.is4profit.com/is4money/savings-investments/venture-capital-trusts.html
http://www.hmrc.gov.uk/guidance/vct.htm

JaggedyKools

Hi There

Thanks for the advice. Exciting is not perhaps the word I was looking for, but you catch my drift! I hadnt considered investing in a small business and heed the warnings re: risk.

We dont want to pay off our mortgages as we're used to the level of discipline that a regular mortgage payment brings. We both feel that if we were to use the money and pay off a chunk of our mortgage then the spare cash free'd up every month would probably be wasted. I see the logic however - debts first, savings later

Thanks again for your input