Where to put £24,000?

mutrag

My father passed away a few weeks ago and my mother has about £24k to invest, she has a few short term bonds that are due to mature in the next year or two and is ok as far as regular income is concerned. She has a Toisa and an ISA but we could do with some advice in relation to investing ths amount of money. Do we split it into smaller amounts or invest the full amount? The maximum period she wants it tied up for is five years, so help needed please....
Thanks
Mutrag

cheerfulcat

Hello, Mutrag,

I'm sorry for your loss.

As your mum doesn't want to tie the money up for more than five years, investment ( where the realistic *minimum* is five years ) would probably be the wrong route. I would suggest that putting the whole lot into a high interest deposit account is the safest course for now. Bear in mind, too, that immediately after a bereavement is not a good time to be making long term decisions...probably best to wait six months to a year and review the situation then, especially as there is no requirement for an income.

Best of luck

Cheerfulcat

dunstonh

Many investments now do not have a defined period of investment and can be called upon, without charge, at any time. This way, the money is never tied up but can be left as long as she likes. Many people say they dont want it tied up longer than 5 years but what happens when the 5 years is up is that they look for another 5 years. Having the investments open ended saves all that worry.