Inheritance

johnnyshaker

I'm aware there are similar threads kicking around but my circumstances are a bit different so I thought I'd start my own thread looking for advice.

I'm due to get an inheritance in the next month or so from my late Mother's house sale of around £35k. I've previously had sums from the same estate which I've saved (£5k in a normal ISA and £7.5k in an S+S ISA).

Me and my wife are both 31 with no kids but I'd say it's likely we'll have in the next few years and we live in a 2 bedroomed house which we have nearly outgrown. We've talked tentatively about exploring the possibility of moving to a bigger house in the next 2 years and ideally keeping our current house to rent out. So, I wish to keep the money to use against a new house when we go for that. What is going to be my best option for saving it? Bonds? Various savings accounts?

atush

Well, you only have 5K in a cash ISa so if it isn't one from THIS year you can each save 5340 more. Plus another 5640 ish after april 6. So that is over 20K right there. If you won't need teh money for a year or two, looked for a fixed rate. If sooner, instant access of 3% or more. Same for the residual in an easy access acct.

If neither of you have pensions, now would be a good time to start them and add money monthly from salary. Things will only be tigher later when you buy bigger/have babies.

And as always pay off any debt first.