Inheritance: What to do wiith it?

gonzouk

Scrap

ISA's first, then any stock and shares you want to invest in, then a good fixed rate savings account for as long as u want to tie up the money (you can get 1,2 year deals). Obviously savings rates are low at the moment but i don't think there is likely to be a rise in the next 12 months. Just my opinion!

G_M

You need to start by asking yourself some serious questions and clarifying your intentions. You don't want to tie it up for 10 years: is this really out of fear of losing it as you suggest, or because you may/will want to spend it?
If so, WHEN might you want to spend it? How much, and on what? Holidays? Marriage? Property? Answers to Q.s like this will influence what best to do with it.
Also - how much risk are you prepared to take with it? As a rule, more risk (eg shares) = more potential gain (and obviously more potential loss). Your attitude to this again influences what you should do with it.
These are all Q.s which a good IFA should ask you (no, I'm not one) before advising, so if you've asked them yourself before you see him (oops, or her) you can save time. If he does not ask Q.s like this, beware his advice!

gozomark

Scrap wrote: »

If they are not allowed to give advice then what's the point of this forum?

Out of the mouths of babes :rotfl:


given the quality of some of the comments on this forum, I wonder the same myself sometimes....

lynzpower

Go travelling and spend it all

Scrap

lol... thank you for the sensible comments that give me something to think about.. ISA's seem reasonable way to start playing this game

..and thank you for the humorous ones that gave me something to smile about.. :j