Where to put £25k

Eastenders

My husband is about to inherit roughly 25k, we are looking for advice as to the best place to put it.

We both have ISA's and savings, no mortgage, no debts to pay, so this money really will not be needed anytime in the near future.

With the interests rates so low, is there anything that can be done with it that maybe will make money, he is not willing to gamble with it.?

Jim_B_3

Anything other than spending it all right now is a gamble. The question is how much risk is he willing to put up with?

xylophone

If by gamble you mean that he is unwilling to accept fluctuations in capital then realistically some form of deposit account is the only option?

You could each fill a cash isa on 6 April which will use up £11,520 after that the best interest rate you can find?

If one of you pays tax at a lower rate than the other then you could take advantage of this.

Might additional pension contributions be a possibility?

innovate

xylophone wrote: »

If by gamble you mean that he is unwilling to accept fluctuations in capital then realistically some form of deposit account is the only option?

No, that wouldn't be an option either because inflation would erode the capital as there is no savings account right now that beats inflation.

xylophone

http://www.thefreedictionary.com/fluctuation

To cause to rise and fall or vary irregularly.

The amount of the original capital would stay the same assuming that the OP's husband did not withdraw any part of it - interest would increase the sum when added.

What the capital plus interest might buy when he chose to spend it could be affected by inflation.

The capital is not eroded- its buying power might be.