My Mum has 100K to invest, is it best to buy property?

mlz1413

my Mum is 63 and just emigrated, she loves it; warm weather, friendly people, low crime rate. only issue she has had so far is the driving abroad is alot more aggresive - doesn't even register on my map of bad points!:D

I agree with others no need to rush into anything and as for a residental flat it was mentioned last week on a thread that the maintenance costs are normally high, as your mum probably doesn't need a warden/carer on site as yet I'd be careful of this yearly expense.

Get your mum chatting about things she would like to do, visiting relatives, getting an automatic car, seeing a part of the world she hasn't been to yet and then let her decide what she wants to do with the money.

EdInvestor

60 is far too young to be thinking about retirement property, which can in any case be a very poor and inflexible investment.

It's difficult to sell especially in a downturn because you can only sell to other oldies, and you can't rent it out. Effectively you can easily get stuck in such property - and the equity release option may not be available if you are short of income.

Austin_Allegro

LOL 60 is far too young to worry about not managing the stairs! I'd be annoyed if my rellies came out with something like that - reminds me of the old joke 'I'm very worried that when I'm out my elderly father will fall over and break something...like an expensive vase'.

I agree with the other posters who say they should split it up, put it in the bank, wait for prices to come down and make some relaxed plans for the future. There's no rush.

hethmar

Austin_Allegro wrote: »

LOL 60 is far too young to worry about not managing the stairs! I'd be annoyed if my rellies came out with something like that

Me too, they usually tell me off for sliding down them on my b*m for a bit of fun - lol. 60 is the new 40, dont you know? Mind you some people are middle aged when they are kids, arent they.

Conrad

Davesnave wrote: »

.....And this lady is only 60, same as me, so I'm not appreciating everyone talking as if she's a geriatric. My Dad only stopped riding his racing bike when he got wobbly....at 89. I plan to improve on that!

With your sentiment here

I'm 41 and already people tell me you cant fight age and have to slow down!
I do mixed martial arts or other excercise every day and have every intention to keep up for ever.

Some folk think themselves into becomming rusty me thinks. Ive noticed some people around my age get an injury and use that as justification for stopping the excercise. If anything you should do more so you stregnth yourself against injury. Espcially so for older folk - if you have a fall, take up excercise and build those muscle cradles to protect you better

hethmar

Conrad, Im chasing you - lol, Ive pmd

Conrad

And another thing..........You can keep fitter by running round the house, running up the stairs - just mostly run instead of walking, you can do sits ups in front of telly, fast gardening. No gym membership required

green_tree_2

I remember when i was younger, my grandparents moved into a retirement bungalow that was on a new complex. At the time they were in thier mid 60's and within two years they moved out! They hated it, it made them feel really old before there time with neighbours both sides in their 80's. Tell your folks to think hard and long before moving

neverdespairgirl

Conrad wrote: »

With your sentiment here

I'm 41 and already people tell me you cant fight age and have to slow down!
I do mixed martial arts or other excercise every day and have every intention to keep up for ever.

Some folk think themselves into becomming rusty me thinks.

I agree with you - a lot of advice on this thread seems more related to an 80 year old!

My mother's 61, my Dad's 58, and they've both just taken up cycling again as a hobby together, and got a new dog-let.

SingleSue

My nan took me to Spain when I was 14 and she was in her early 80's.....she was a total embarrassment and put me to shame! Getting drunk and laying in the middle of the road, being the first off the coach for the wine tasting sessions and dancing until the wee hours.

At age 87 at my wedding, she was on the dance floor doing the can can and outdanced all those who were at least 60 years her junior.

At age 90, she went to her first Ann Summers where she shocked my very well behaved (because there was an elderly person there) friends by ordering a very personal item and loads of frilly red french knickers!

My nan was a real character and the way she was going, was heading for getting her telegram from the Queen until she stepped on a sewing needle, went to the hospital saying she had and they then sending her home as a batty old lady without doing anything...she died from blood poisoning due to the sewing needle in her foot.

She was 91