Investment income

Buzyizzy

Hi
I'm emigrating to France as my ex-OH's pension is now in payment and I have £500+ each month. I realise this is not enough, but plan to sell my house and with the equity I will buy the new house and I would like an income from the remaining equity of around £60k.
Where would be the best place to put it? I also have my own pension plus I will be eligible for the full state pension once I am old enough. I have seen several savings accounts, but which is best?

Thanks

atush

You wont get much income from 60K in cash- best you can hope for is around 3%. 1800 a year, or 150/month isn't going to buy you much.

Is that 60K your only savings? Are you sure you will be able to afford living in france? Will you be able to access their health care system? Are you aware is isn't completely free?

I am thinking you don't have enough capital for this plan, and am a bit unsure of your income as you don't say your age or the amt of the other pension.

Buzyizzy

Hi
If I'd given you the right figures it would help. As I won't be earning enough to pay tax, and as I've had an increase, the monthly payments are now £670.63, this is index linked. Plus, in 8 years I will have an extra £100 per month when my private pension can be used, which will keep me going for 10 years, by which time I'll have the state pension. So I'll have to live on £820.63 per month atm, which is less than I am now, but not much, plus I'll be saving £275 per month immediately I move. I think it's doable. What do you reckon?

Buzyizzy

Yes, the £60k is my only savings of any amount, the rest will be going on the move. I realise I will have to pay for healthcare eventually, although I plan to do some private care work as I am a qualified carer. Yes I know I will have to pay for any healthcare and prescriptions.