what can i do with £400,000. PLEASE HELP

pmcx9

i would avoid investments at all costs and stick to no risk savings.

if they make you 50% then there is no difference in your lifestyle between £500k and £750k but if they lose you 50% then you are starting to tighten the purse strings with only £250k.

greenface

pmcx9 wrote: »

i would avoid investments at all costs and stick to no risk savings.

if they make you 50% then there is no difference in your lifestyle between £500k and £750k but if they lose you 50% then you are starting to tighten the purse strings with only £250k.

worst post of the day award

suelees1

A PI trust is the only way to go on this one. As has been said it's the only way to safeguard your benefits as normally anything over £16K will debar you from any means tested benefits.

If you get any interim payments whilst waiting for settlement, the first payment will be disregarded for 52 weeks but any further ones after this won't be and will count as capital until it's placed in trust. I'd seek some advice on the benefits side of it.

To be honest your solicitor should be telllng you all this and if they don't know it then they should refer you to a benefit specialist. They should also have links with a financial adviser but check if they'd receive commission for referring you. If they do and you're ok with this, I'd still ask the financial adviser to split the commission 50/50 or you'll seek advice elsewhere.