What should I do with 85 thousand?

aggypanthus

Property every time. At your age dont waste any time getting on the ladder.
Then some in an Isa .

VanMan2007

I've never lost on property. Bought four houses, rented them all out at some point and made more than average interest rates.

But I'm in for the long-term. Like jenniemiller177 said, it might be worth buying a property that allows you to keep 10K of your money in the bank or building society for emergencies. That will take away some of the pressure.

toastking

What a conundrum to have!

I would put 10k aside then get 10k each on as many properties on buy to let as I could. Then just keep a slow income coming in whilst paying off the mortgages using the rental incomes, the 10k buffer being used if I couldn't get tenants.

shmeeko69

Personally I would buy a property, although that depends on what part of the UK you're from and how much £85k will get you.

It's a buyers market and you'll get a property that was worth over £100k pre 2008 for that amount in most parts of the UK and a far better option than investing in blue chip companies even although the FTSE100 has been quite steady in recent months.

Bricks and mortar has and will always be a sensible option and whilst you might not make a good return, you certainly won't lose your shirt in the shark infested waters of the shares and trading world.

All the best with your money choice :beer:

Dorset82

Either:

1. Use 75k of the money as a large deposit to buy a property and retain 10k as an 'emergency fund' to assist with your business and income uncertainty.

or

2. Plough up to 75k into your business (if required and sensible) and leave 10k (or whatever you don't invest into your business) as an emergency fund.

Only you know the details of your business but these two options are the only ones you should consider. My OH is a successful financial and business adviser by the way and this is his advice : )

droopsnoot

saterkey wrote: »

even just putting it in the bank would earn you a couple of grand im sure in interest depending on how long its there, for nothing and less hassle than shares.

The only problem with that approach is that unless the OP can somehow find a high-paying account, it's still going to earn less in interest than it loses through inflation, so the net effect will be that money is lost. But, investing in shares (more likely through funds rather than individual shares) is a long-term (5+ years) commitment, so maybe not suited.

I back the other comment to post this in the Savings and Investments board instead of in here. It touches on the 'up your income' thread, sure, but it's more of an investment question. But also - have a browse around that board before you post, because there are many, many similar thread in there with people asking for advice on what to do with a windfall. Although everyone's circumstances differ, there may be something already there, or some other ideas.

Idiophreak

Whereabouts in the country are you? May inform the property plan a little...

alannadrama

Buy a property all the way. If I had any spare cash like that, I'd be buying to rent straight away. Unpredictable market but in the long run, it will be a sound investment. Shop around, look at areas that are a bit rough now but developments mean in the future they could be really profitable.

libra10

Whatever you do while deciding, beware of leaving the funds in one bank only. If the bank were to fail the government's compensation scheme will only cover up to £85,000.

Interest - though low currently - will increase your money above the recommended limit, and the last thing you want is to risk losing any.

Good luck with whatever you decide.