Investment

elo_fan

I am in the process of selling land which should make around 220K.
I wish to invest this for an income but wouldn't have a clue how to go about it. Can anyone help me on this and tell me what I could expect in return.
I would be most grateful for any ideas.

dunstonh

Depends on your tax position, attitude to risk and timescale amongst other things. They are the main points to begin with though.

jamesd

elo fan, you just gave a perfect argument for you seeking assistance from an IFA who does mostly investment business, preferably one working on the new model adviser (NMA) payment method, which typically has a low initial charge and uses the annual commission for subsequent years to pay for ongoing investment tuning and advising. A small local firm is likely to be better than a big national one and banks or building societies are likely to be worst of all, because they generally are prohibited from giving advice beyond selling their own products.

220k is more than enough to make it worthwhile seeking advice. You should avoid anyone who suggests putting the money in fewer than 5 different funds and 15 or so is likely to be more realistic from a capable person.

On average over the long term you might expect to be able to both take 5% as income and see capital growth at least matching inflation, if you have at least a medium risk tolerance. 10-15% split as you like between income and growth, as a long-term average is reasonably doable.

I suggest that you read "OK then - How do I choose a S&S ISA" to get some idea of what is involved in doing a good job of matching investments to your risk level and selecting funds to invest in. If you want to learn yourself, great, if not, an NMA IFA can be found who will charge prices reasonably comparable with doing it yourself.

Dunstonh has asked the key initial questions that are needed to make sensible suggestions and ask followup questions specific to your situation and desires.

elo_fan

Sorry it's late but thanks a lot