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What to do with £300,000

I am about to receive half a million pounds, once I pay off my mortgage I'll be left with approx £300,000 to invest. I'm 35, single, live abroad on a British Forces base and earn a very good salary - so have no need of an income from this additional money.

I'd really appreciate some advice on how best to manage it. I'd considered investing in another property, but am not sure if this is the best way forward at the moment.

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Comments

  • Posts: 5,562 Forumite
    Part of the Furniture 1,000 Posts
    With this amount you need to see an IFA when next in the UK.

    Do NOT use your bank for this. Find an IFA here:
    http://www.unbiased.co.uk/find-an-independent-financial-adviser/
    In case you hadn't already worked it out - the entire global financial system is predicated on the assumption that you're an idiot:cool:
  • Wouldn't like to give you any 'hard' recommendations on what to do with it.

    But I would thoroughly endorse the comment about banks. It is quite possible that some of it will best be put into equity funds of some description, but amongst the myriad of options available, here, it is generally considered on these boards that products supplied by banks will often represent the poorest value, and be 'sold' to you by 'advisors' with limited training and an even more limited product range. They will probably be first to 'see' the money and might approach you.

    So see an Independant Financial Advisor. Preferably one knowledgeable on the tax situation both in UK and Cyprus [if that's where you are]. He won't, though, probably be able to advise adequately on the "Buy to Let" option. Remember though that this option is not just an 'investment'. It is a 'business' and hence involves 'time', 'work', 'costs', and 'risks'.
  • Posts: 1,671 Forumite
    15 grand into 20 different companies. household names such as Glaxo, Shell, Vodafone

    if some mug comes on here and says invest in silver just ignore them
  • Posts: 4,263 Forumite
    i guess you live on or work in an SBA as I did a fw years ago, so you can use ISAs that will take care of £20k this year (10/11 and 11/12 if you invest before and after april)

    SIPPs are another area to look at - its never too late - well almost I retire in 6 months! Anyway I wish I had done this many years ago.

    well thats my 2 pence worth

    fj
  • Posts: 2,519 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    it sounds like your looking for capital growth, go see and IFA as bove NOT IN A BANK they will give you a 5-10 year plan,
    ask them for a report and then come back here and we will give you our opinion

    also i notice you only have 1 post, try and become active in the community here if we help you, the idea is we all share informatin to help each other:money:
  • Posts: 1,180 Forumite
    Part of the Furniture Combo Breaker
    Today's FT has an interesting article about how to invest to beat inflation (or "stagflation").

    http://www.ft.com/cms/s/2/f7f6a92a-2b03-11e0-a2f3-00144feab49a.html#axzz1CRFQTwno

    The most interesting part for me were the charts from Rathbones and Bestinvest which are recommendations of how to balance a portfolio to meet this objective - you'll need to buy the print version to see these - £2.50 well spent in my opinion
  • Posts: 2,725 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    edited 29 January 2011 at 5:50PM
    cyprus35 wrote: »
    I am about to receive half a million pounds, once I pay off my mortgage I'll be left with approx £300,000 to invest. I'm 35, single, live abroad on a British Forces base and earn a very good salary - so have no need of an income from this additional money.

    I'd really appreciate some advice on how best to manage it. I'd considered investing in another property, but am not sure if this is the best way forward at the moment.
    One way would certainly be to see an IFA, or several, but be fully aware of their limitations. The qualifications for being an IFA are very rudimentary and most are from a sales background so don't expect too much. Their advice will generally be confined to retail products that pay them commission so don't expect them to recommend anything else.

    If you decide that would be enough then ask for a fee-based, not commission based, arrangement to reduce the likelihood of "commission-bias" and make sure it's the real thing and that that they return all commission to you, including annual trail commission. Caveat emptor.

    Far better would be to do some reading so you at least have some knowledge to judge the quality of any advice given. You could look at:
    (The prices will have gone up slightly since last I checked.)

    You could also put your question to Justin Modray, a very experienced adviser often seen/heard on TV/radio, who gives very detailed replies without charge. http://candidmoney.com/
  • Posts: 1,549 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    darkpool wrote: »
    if some mug comes on here and says invest in silver just ignore them

    I have a litte silver but this made me :rotfl:
  • Posts: 25 Forumite
    What a great amount!
    Agree see a couple of IFAs.

    If it was my money i'd diversify. Split it into low/medium/high risk.

    As you say you are young so there is scope for some risk.
    Also enjoy some of it as well

    Good luck!
  • Posts: 9,425 Forumite
    I'd ring John Paulson. Feel free to mention my name...
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