Cash investment

25wood25

I have £1.2m pension in medium risk investment stock market based. I also currently have some £600K in cash at a high street bank. As I already own four houses three of which I rent and bearing in mind that property prices are 'falling' at the moment I am disinclined to buy any more property. I do not wish to put the £600K into even low risk stock based investment, so where can I put it to maximise the interest I get which is a paltry circa 1%. I have just started taking my state pension and all of my income is taxed at 50%

Mikeyorks

Consult a good quality IFA or talk to Coutts. Too much alleged wealth to be discussing advice via an internet forum.

WHITEVANMAN

25wood25 wrote: »

I have £1.2m pension in medium risk investment stock market based. I also currently have some £600K in cash at a high street bank. As I already own four houses three of which I rent and bearing in mind that property prices are 'falling' at the moment I am disinclined to buy any more property. I do not wish to put the £600K into even low risk stock based investment, so where can I put it to maximise the interest I get which is a paltry circa 1%. I have just started taking my state pension and all of my income is taxed at 50%

As you pay 50% tax and are not prepared to invest any of it in low risk stock investments, even in the best savings you are going to be looking at best around 2% return after tax.
With inflation over 4% your funds are going to be decreasing in real value.
With so many sources of good income to live on, maybe you should consider using it for fine art, fine wines and enjoying your retirement.