advice please - 140k to invest income required

toffee'n'tom

I'd be really grateful for some help please. I'm hoping to finalise my house sale soon and after the mortgage is paid I should be left with approx 360k. I looking to spend up to 220k on my main house and will be left with approx 140k.

I's a single parent, two teenagers 13 and 15m earn around 16k a year and will need an income from the 140k but don't want any high risk investment.

I;m looking at a 10 year plus investment (by the time both children have left uni) I was thinking of buying a second property as a buy to let.

Does anyone have any advice as to whether that would be the more sensible option or whether to find some bond which pays monthly interest.

Thanks

jimjames

You probably need to review your attitude to risk first. Initially you say that you don't want to take any risks yet you are considering a Buy to Let property which is fairly high risk as it is a geared investment and you could potentially lose more than you put in, unlikely but possible.

If you do not want to take any risk with the capital then some form of savings account is the way to go but you will then risk inflation reducing the value of the money.

If this is your only money for savings then you certainly would want to keep a portion of it in easy access risk free accounts but there could be a case for putting some in other investments. ALso need to consider other things like if you have a pension or ISAs to make most of tax free savings. Act before April and you'd be able to get over £20000 in tax free ISAs by using this year and next years allowances.