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Inheritance: What to do wiith it?

Scrap
Posts: 5 Forumite
Hi folks..
I am about to receive an inheritance of around £70,000 or maybe more..
I do not really have a clue as to the best thing to do with it. I am single and have no kids, I have no mortgage or outstanding bills or debts at all anywhere and owe no one anything.
I have no interest in tying this money up for 10 years either so that some incompetent money manager can lose it all for me.
What does one do in a situation like this?
Cheers..
I am about to receive an inheritance of around £70,000 or maybe more..
I do not really have a clue as to the best thing to do with it. I am single and have no kids, I have no mortgage or outstanding bills or debts at all anywhere and owe no one anything.
I have no interest in tying this money up for 10 years either so that some incompetent money manager can lose it all for me.
What does one do in a situation like this?
Cheers..
0
Comments
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Post a provocative first ever message on MSE. :T
:T
:T
...............................I have put my clock back....... Kcolc ym0 -
Robert_Sterling wrote: »Post a provocative first ever message on MSE. :T
:T
:T
Er.. pardon?0 -
Spend it.
If you're not willing to ask for advice from a professional why are you here asking a bunch of amatuers?0 -
Make an appointment with a Independent Financial Adviser, and don't sign anything you do not understand."When the Government borrows, the citizen has to save".
Machiavellii0 -
Spend it.
If you're not willing to ask for advice from a professional why are you here asking a bunch of amatuers?
I didn't say I would not ask for advice. I genuinely have no experience in these matters at all and have no idea where to begin.
I just don't want to make any mistakes with all the disaster stories one hears on the news every day.
I also thought that there were professionals in this forum. Am I mistaken?0 -
If they are not allowed to give advice then what's the point of this forum?0
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http://forums.moneysavingexpert.com/faq.html?faq=new_faq_item#faq_new_rules
FORUM USERS’ OPINIONS DO NOT CONSTITUTE ADVICE
Forum users are asked to make it clear if discussing a topic they have professional knowledge of that they work in that field (but do not tout for business). However, please do not give advice. This is particularly (but not only) relevant on the Pure Money, Health, Old Style, In My Home and Is It Fair? Boards.
Also please remember just because someone says they’re an IFA this doesn’t mean they are. As always, it is essential that you do your own research.
Martin Lewis Money Saving Expert0 -
Scrap seems to have made it clear s/he does not want to tie up the money, so is an investment adviser ( IFA) going to be any use?
You say you have no mortgage so do you own a house outright, Scrap? If not, would you be interested in using some of your inheritance as a deposit?
Do you have any savings eg an ISA?
Or any nephews/nieces/ favourite charities who could benefit?
Just a few thoughts.0
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