Inheritance to invest!

brummiebabe

Can anyone give me some advice?

My OH is due to inherit a fairly large sum of money shortly, and wants to look at investing this. However, he would like to have fairly easy access to the money (should we need it!) He doesn't want a too high risk investment either!

Any ideas where to start?

Thanks

dunstonh

There are a couple of thousand options based on what you have said so far. Where you invest depends on your tax situation, timescale it is likely to be there, what sort of access you want and how much are likely to need, what sort of backup savings you will have and what risk you want to take. Not wanting "a too high risk investment" is not good enough to give any suggestions or areas to investigate.

You could look at a number of the fund supermarkets and look at some of the investment funds available (most fund supermarkets carry at least 300-500 funds). Take a look at how they work and read up on the information they have.

cheerfulcat

Hi, brummiebabe,

Perhaps, rather than considering the sum as a whole, your OH could separate the money into "pots".For example, a safe investment pot for slow and steady gains, a rainy day pot ( pure savings ), a slightly racier pot and a " pure punt " pot. They don't have to be of equal sizes, of course.

This dividing of the investments might make it a little easier to decide what to do with the money.


HTH

Cheerfulcat

montycat_2

Hi ,
I have made 3 appointments with 3 different financial institutions .I have sought advice and will weigh up each proposal in my own time .Ring a few banks /building socities /Independent IFA's and get their viewpoints .
Meanwhile ,my lump sum is in a high interest savings account with Instant access .
By the end of next week ,I will be in a position to decide .
I hope this helps .