best way to invest a large sum of money..

frosty

Hi,Very soon I will have £120,000 to invest,I have no idea where to put it.I was thinking £30,000 in premium bonds.I have paid off the mortgage.thanks.

lisyloo

Are you married?
Do you pay tax? What rate?
What rate does your spouse pay?
Do you have a pension(s)?
What other assets do you have apart from the house?
What other debts do you have?
How old are you?
What is your attiude to risk? Are you prepared to temporarily have a capital loss due to market volatility and tie up moeny for 5 years+?
How long can you invest the money for?
Do you need access?

Sorry, need more info.

Yorkie1

Seriously, with that amount of money, I'd be consulting an independent financial advisor. The questions which lisyloo listed will be really useful to have in mind when you go to see them.

DavidHayton

If you are asking the question then you should really talk to an IFA who would be able to give you appropriate advice based upon your investment objectives and attitude to risk. 120000 is a lot of money.

If you don't know of one then you could ask friends for a recommendation. Failing that, this site will give you some names to try:
http://www.unbiased.co.uk/find-an-independent-financial-adviser/

Best wishes
David

Linton

Whatever you do, premium bonds is one of the less good options. Suggest you look here: www.moneysavingexpert.com/pb-calculator

dunstonh

frosty wrote: »

Hi,Very soon I will have £120,000 to invest,I have no idea where to put it.I was thinking £30,000 in premium bonds.I have paid off the mortgage.thanks.

Watch out for bendix.

What is it about premium bonds that makes you think its a suitable option for you?


Like others have said above, we cant answer your question as we dont know your situation and what you are trying to achieve.

frosty

lisyloo wrote: »

Are you married?
Do you pay tax? What rate?
What rate does your spouse pay?
Do you have a pension(s)?
What other assets do you have apart from the house?
What other debts do you have?
How old are you?
What is your attiude to risk? Are you prepared to temporarily have a capital loss due to market volatility and tie up moeny for 5 years+?
How long can you invest the money for?
Do you need access?

Sorry, need more info.

Thanks to everyone for the replies,

I am married,I work part time but i earn just under the tax allowance.I am 48. My husband pays 40% tax.We have no pension.No assets.No debt.I would really like to keep it fairly safe,we dont need the money because my husband is in a good job.
I would like it as a safety cushion for our old age(husband 55)The money has now increased to £175,000 and may increase again.thanks again.

Jonbvn

frosty wrote: »

Thanks to everyone for the replies,

I am married,I work part time but i earn just under the tax allowance.I am 48. My husband pays 40% tax.We have no pension.No assets.No debt.I would really like to keep it fairly safe,we dont need the money because my husband is in a good job.
I would like it as a safety cushion for our old age(husband 55)The money has now increased to £175,000 and may increase again.thanks again.

You are definitely in IFA territory with that amount.

saverjustice

Your husband is on 40% and has no pension?

I would start using his allowance. If you need a decent IFA I know a few hundred I would trust and thousands I wouldn't.

dunstonh

We have no pension.No assets.No debt.I would really like to keep it fairly safe,we dont need the money because my husband is in a good job.

What happens when he no longer has a job and is retired?

You have no assets and no pension and living a lifestyle of a higher rate taxpayer. Yet when it comes to retirement you will drop down to a basic state pension of £5000 a year. That is going to be one hell of a bump.

You seriously need a proper analysis.

Loopgames

frosty wrote: »

Hi,Very soon I will have £120,000 to invest,I have no idea where to put it.I was thinking £30,000 in premium bonds.I have paid off the mortgage.thanks.

I don't know how risk averse you are but I would buy 2 flats in luton...mortgage free and rent them out.