Advice on pension pot.

knightstyle

Hi everyone, as some may remember my wife looks after my BILs financial affairs, he wold blow the lot and be on the street!
He has now retired and just got a cheque for £17,000. So what to do?
£1000 will go into the bill paying account as a cushion.
£6000 ready at short notice, he is already planning an expensive railway holiday.
£10000 into an isa or what? He will not have a large pension and we are thinking of tying it up for 5 years or longer?
So recommendations for accounts for the £6k and £10k appreciated. He currently banks with A&L.

EdInvestor

Perhaps best to try the savings and investments board?Sounds as though this money isn't in a pension.

bendix

knightstyle wrote: »

Hi everyone, as some may remember my wife looks after my BILs financial affairs, he wold blow the lot and be on the street!
He has now retired and just got a cheque for £17,000. So what to do?
£1000 will go into the bill paying account as a cushion.
£6000 ready at short notice, he is already planning an expensive railway holiday.
£10000 into an isa or what? He will not have a large pension and we are thinking of tying it up for 5 years or longer?
So recommendations for accounts for the £6k and £10k appreciated. He currently banks with A&L.

Let him blow the lot and be out on the street. It's his money. He's an adult.