What to do with £200k?

spacey2012

Where do the people you save the money with invest it ?
Bricks an mortar.

silver_inca

Thank you for all your replies. Well, i am a 20% tax payer and am going to be 39 this year.

I do not have a pension, but i do have 4 properties which i let. The money left over from the rents of these, pays my mortgage on the property i live in and also leaves me enough to max out my S&S isa each year.

The properties are on interest only mortgages and my big plan and hope , is to use the money i am accumulating each year in my S&S ISA fund to pay off these mortgages in say 20 years.

Sounds logical to me to do this-and not start chipping off on them with interest rates so low. I do have some shares but not a lot. What to do next is the question...

s20544

If you need easy access for large sums, the First Direct 1year fixed rate savings account might be worth considering (2.3% if opened before end of January). Multiple accounts can be held. An account can be closed early by paying a fee of £100. (£100 is not too excessive if you have a large deposit and believe you won't need it for at least a few months). In addition, as it is a fixed rate, it has some benefits over a variable account, considering the current environment of reducing rates. It is especially easy to open if you already have an on-line First Direct account.

spacey2012

So you have savings but have huge debts .
I would have thought the solution was logical.

innovate

srcandas wrote: »

Maybe there should be a standard template on the forum for people to complete. Save all the repetition of the same initial questions.

And then some standard answers.

And then standard follow up.

Trouble is, the guys (and gals) who keep starting new posts about their £20K, £50K, £73K, £400K or whatever amount still wouldn't fill in the template. Mainly because they all seem to think they are special.

The other thing that they have in common is that they seem to think that they can scrimp on IFA(*) fees, even if they are profoundly incapable themselves to make informed decisions about their investment needs and options, and get the best advice from a bunch of strangers on an internet forum. May be some will succeed that way, but for most it will end in tears.

(*)I am not an IFA myself and have no association to any IFA.

atush

silver_inca wrote: »

Thank you for all your replies. Well, i am a 20% tax payer and am going to be 39 this year.

I do not have a pension, but i do have 4 properties which i let. The money left over from the rents of these, pays my mortgage on the property i live in and also leaves me enough to max out my S&S isa each year.

The properties are on interest only mortgages and my big plan and hope , is to use the money i am accumulating each year in my S&S ISA fund to pay off these mortgages in say 20 years.

Sounds logical to me to do this-and not start chipping off on them with interest rates so low. I do have some shares but not a lot. What to do next is the question...

So basically you have all your eggs on one property basket ( I am assuming here that the cash you hold would be wiped out by the debt on 4-5 interest free mtgs?).

So you clearly need some more equity exposure thru both S&S ISAs, and a pension. Do you work?

gadgetmind

innovate wrote: »

even if they are profoundly incapable themselves to make informed decisions about their investment needs and options

I think you're being a trifle unfair.

1) The OP actually seems pretty savvy.
2) Even if they now need some input. don't we all need that from time to time? Didn't we all start from a position of total ignorance, and don't we all accept that there's still a lot to learn?