Wheres the best place ?

JTL1961

Good evening

We are shortly going to be receiving £2000,000.00 (due to house sale) Please could we get some advise on what and where is the the best place to invest.

Many Thanks in advance

Aegis

If you're about to receive £2 million, then the first piece of advice is not to plan your future based on what people on an internet forum tell you!

Otherwise you'd need to outline what you were looking to achieve with the money. Are you looking at purchasing another property soon, for example, as if you are it may be worth putting quite a large chunk of cash with NS&I, even though they have poor rates, as the entire amount is backed by the Treasury. If it's longer term, then a mixture of cash savings and longer term asset-based investments might become more sensible, in which case you may wish to consider independent professional advice.

The same also applies if you mis-typed and it is actually £200,000!

innovate

'ere we go again, been at least a day since somebody signed up to ask where to put a bit of cash without giving any parameters.

• what are your plans with the money - when do you need access to how much of it
• what is your attitude to risk - how much of it would you be happy to lose?
• how old are you,
• how well are any of your dependents covered,
• how well is your old age income covered
• what 'rainy-day' fund do you have in cash
• what is any ISA(s) or SIPP o you have
• what tax band are you in
• similar Qs for any spouse you have

NB. is it £200K or £2m?

jimjames

innovate wrote: »

'ere we go again, been at least a day since somebody signed up to ask where to put a bit of cash without giving any parameters.


NB. is it £200K or £2m?

It might even be £200,000.01 as they're quoting down to decimal places!

Seriously if you need to ask on a forum you should be looking for an IFA via unbiased.co.uk

But check how much it is first, £2m is a lot bigger than £200k and will affect how they deal with it.

JTL1961

Sorry guys mid type ! Should of wrote £200k

Jegersmart

(-_-)

j

richyg

JTL1961,

Geez. A rushed and clumsy first post with a critical typo - followed up by an inability to even follow innovates offer requesting more information.

Disgrace :mad:

R

atush

Nopem no answers from me til the OP coughs up some of innovate's list.

I will say, even if there are 2 of you, you will need two joint savings accts, or 3 single ones in different banking institutions.