Advice for Investment/Savings

hovis123

My Dad has recently passed away and my Mum has been left with around 15k-20k payouts from insurances, isa's etc that were in my Dad's name. My Mum doesn't need this money for day to day living so I was look for some advice to what is the best savings/investment plan for this lump of money.

For example is it best to put it into a number of small cash-isa's or just one saving plan.

Any advice/comments would be appreciated

ReportInvestor

Does your mum have other savings for a "rainy day"?

From a savings rather than an investment point of view, you could find a top paying account for most of it and put £3K pa into a mini-cash ISA each year. This would be the simplest approach.

You can earn more if your mum is prepared to fiddle around with the money and use regular savings accounts (these can pay 6.5%-8% gross or even more if you are a HSBC, A&L, Barclays current account customer).

dunstonh

over 10,000 options available to you and you havent given us any clues to narrow down the options.

Timescale? risk level (dont say yes or no because risk doesnt work like that)? Accessibility? Future requirements from the money? Tax status? Growth/income/both required? Benefits received?