Where should I invest inheritance?

safeguard

Should I put inherited money into a savings account or invest it in a property? With all the doom and gloom in the news, I'm a bit unclear what do with the money.

McKneff

You dont say how much your inheritance is but if its a substantial amount you really need to see an IFA

Just a few thousand? If youre a tax payer read up on ISAs. These are tax free savings accounts.

jimjames

And your age? Near retirement or just finished university? Already own a house or renting? What other savings/investments?

Lots of questions but without knowing more info its impossible to answer. Various options could be worth investigating - pension, stocks & shares ISA or cash ISAs.

dunstonh

Should I put inherited money into a savings account or invest it in a property?

What about investments? Any reason you have ruled those out?

There is many tens of thousands of options that could meet the criteria you have given. You need to narrow it down more.

jamesd

Residential property prices are depressed so it's not a bad time to be using the money to fund deposits on several different places if you've experience doing this. You'd look for places that need work and where after refurbishment you could remortgage to get back most of the deposit money and refurbishment cost and that are also good rental prospects. If you don't have experience you could start with one and see how it goes.

There are a lot of options besides this that might be more suitable if you don't want to be a landlord.

Loughton_Monkey

safeguard wrote: »

Should I put inherited money into a savings account or invest it in a property? With all the doom and gloom in the news, I'm a bit unclear what do with the money.

Are you talking £22.50. Or £1.5 million? Or perhaps something in the middle?

Does tax (income and capital gains) have any relevance to you?

For what period do you want to save (or invest) the money?

What I am getting at is that if you want any sensible or meaningful comments, then it is always better to give rather a lot more information. Also perhaps some background as to why you are simply asking about 'Savings Account' or 'Property'.

It's a bit like saying you have never heard of Chinese food, let alone eaten any of it, and then asking people whether you should eat the won ton soup or crispy duck!