£950,000 what shall I do?

Asheron

Magic_B wrote: »

Hi all I'm soon to receive £950k maybe slightly more from the sale of 2 properties but I'm not sure what to do with it. I'm not a spend thrift so not planning to go out on a buying spree. I'm more interested to know where to put it to get a good return.

Some people are advising to split it up to keep it safe by not keeping all eggs in one basket. Others are say the bigger the bulk the more bargaining power you will have so keep it all together. I'm a confused mess. All / any help would be greatly appreciated. Thanks

I would put 30% of your savings into Gold and Silver, and consider buying some land to grow your own food.

DiggerUK

Asheron wrote: »

I would put 30% of your savings into Gold and Silver, and consider buying some land to grow your own food.

30%, I am ashamed to be on the same thread as you.
Mind you, my allotment is only 6 rods.

Jonbvn

Asheron wrote: »

I would put 30% of your savings into Gold and Silver, and consider buying some land to grow your own food.

DiggerUK wrote: »

If you listen to the wiser posters, you will preserve a good chunk of what you have in gold.

As a rule of thumb, I would suggest that you do the complete opposite of what these two [STRIKE]muppets[/STRIKE] posters suggest.;)

Seriously, a fee based IFA is the way I would go. You need to define what your investment aims are. They may include but not be limited to:

1. Early retirement - income required.
2. Capital preservation.
3. Capital growth.
4. Inheritance planning.

DiggerUK

Jonbvn wrote: »

As a rule of thumb, I would suggest that you do the complete opposite of what these two [STRIKE]muppets[/STRIKE] posters suggest.;)

I prefer bonkers, but Muppets are fine by me.
http://www.youtube.com/watch?v=1wg_L0wGTyA

bobbyj_2

what do these super rich do with their money? What about that last big lottery winner? Do they put 50k in about 300 different accounts then? Serious question!

ed123_2

.....C & G have a good cash isa account paying 0.05%..........

ses6jwg

bobbyj wrote: »

what do these super rich do with their money? What about that last big lottery winner? Do they put 50k in about 300 different accounts then? Serious question!

offshore, property, ns&i, holding companies, equities...

amcluesent

I'd bell Coutts.

Polly_Esther

Re the 50k 'guarantee' for the amount held in a bank:-

I recently had a consultation with a financial adviser in a bank where a relative of mine for whom I hold Power of Attorney has all their funds. Total funds are quite a bit in excess of 50k so I expressed my concern about having all funds in that bank.

He told me that even if just the 7th largest bank in the country failed there would not be enough money to pay all investors their 50k so the 'guarantee' is just pie in the sky. Food for thought.

dunstonh

He told me that even if just the 7th largest bank in the country failed there would not be enough money to pay all investors their 50k so the 'guarantee' is just pie in the sky. Food for thought.

Northern Rock was the country's 5th biggest lender before it went wrong. The FSCS paid out for Bradford & Bingley.