Best thing to do with a large sum of money

tombs_2

Morning All,

I should, hopefully, be coming into a large sum of money. It should be in the region of £90000. I was wondering what the best thing to do with it is.
Is it best to stick it all in one account or to split it between various accounts?

Any advice is greatly recieved.

Thanks
tombs

15lsp

my parents put 100k in a high interest savings account when dad retired. They were advised to keep it all together to get more interest.

Some people might want to invest in property though.

kenshaz

Split it into three £30,000,then each is protected if the bank goes bust.
First and foremost use up your ISA cash allocation,then www.icicibank.co.uk and
www.icesave.co.uk and the rest with Ing.
Regular savers are a consideration,but you have to drip feed.
Also pay off debt before you consider saving.

mahon73

kenshaz is right. Pay off any debt before saving. But I would keep the money all together to get more interest. You don't need to go to a bank. You can put the money in a money market account at a place like Smith Barney and get a good interest rate.