What to do with large inheritance?

jamesd

You aren't going to receive a large inheritance and do not have massive non-UK inherited assets. Best to start a discussion for your own case rather than piggyback on hugely different discussion.

jdw2000

jamesd - cheers. Deleted my above post and started new thread.

oldbow

I agree that putting some of your money into a pension may be a good idea. But it looks like you could be comfortably off just with what you have - although if some was put into a pension, then when you collect, you could be even better off. But that's up to you.

What I would say is that with the amount of assets you have, I would strongly consider spreading these assets a little wider geographically. I think property is good, generates income, and tangible assets seem safer in times of inflation. The UK is seen as a safe haven for assets. But with the amount at your disposal, you can afford to buy some properties in other places aroud the world. You'd have to research it of course. But safe and stable (relatively) as the UK may be, things can change and when they do they change quickly. For example if a future Government decided it would be populist move to introduce extra taxes for those that can afford a portfolio of residential properties, then I wouldn't want too many eggs in that one basket.

Similarly for cash, I'd open accounts in various currencies in a few stronger banks around the world. You could afford to travel and spend a few weeks travelling around the world doing this for those banks where you have to open an account in person. Even if you don't keep high balances in all the accounts, you'd have options in place so you can move your money if you need to.

These are just examples, lots of things could happen, but hopefully you get what I mean. Good luck.

sc00by-d00

Thanks to everyone for the advice that has been given. I have taken note of what you have all said, particularly the advice about Pensions and moving a large chunk of cash to the UK. I have already started the ball rolling in order to take advantage. I will be meeting with an IFA and will try and pop back in a few months time to provide an update to you all.

Incidentally, prior to posting this topic I had already sold 10% of the shares in the SA company (after a recent price increase) and will also be bringing those funds to the UK to invest in a property. Will bide my time and wait for another spike before selling off some more.

Many thanks!!

jamesd

Thanks for the update. Please do let us know how it goes. You've an interesting investment situation, in spite of the sad event that led to it.