Whats the use in being rich....

hypnose

if you don't know what to do with it!

Well, we're not exactly rich, but my partner and I have just taken possession of just over £100,000. We are debt free bar a mortgage of £95,000. We haven't got a clue what to do with the cash! Maybe a new (old) car £5/6k, do up the house, £5-10K and some new shoes for me (£40). I'm thinking of retraining as something for more independence and cash- don't know what- but as far as the rest goes- no idea! Any ideas? We're not too bothered!

tomstickland

Pay the mortgage off.

poppy_f1

i'd pay the mortgage off as well

GCH888

Definitely pay the mortgage off and then you'll be truly debt free

dwsjarcmcd

Enjoy it!! It's a really nice problem to have

greenface

pay most if not all of your mortgage enjoy buying shoes every month.

You can then think about re-training to you best potential not totally earning potential and you will feel much better.;)

sandy2_2

Pay off some of the mortgage, say half to three quarters, save some and then treat yourselves to someing lovely, you may never have this much spare cash again. Also reducing your mortgage substantially will give you more money to spend or save each month

molerat

Another vote for the mortgage payoff. I did this with my redundancy payout (after I found work again) and now save most of the mortgage payment amount each month. My savings are now at more than my redundancy payment. You will have about £500 per month to do what you want with.

LittleVoice

Make sure each of you is making the most of your tax-free ISA savings allowance, then a little extra savings for "rainy days", get a car and other bits if you want and then make a substantial payment off your mortgage.

libra10

Definitely pay off the mortgage, followed by a lovely holiday. Then save the monthly mortgage payments in a high interest ISA. With interest rates high at present, the 100k will keep growing and growing, giving you more choices.

Good luck

Jake'sGran

dwsjarcmcd wrote: »

Enjoy it!! It's a really nice problem to have

Sorry to be a misery but just wanted to say....not if you are too frail to enjoy it. Lots of friends seem to be going on cruises lately and one said that there were a lot of infirm people on board (the QM2) but that can't be very enticing for other cruisers. I believe these big ships have lots of stairs too. (I know they have lifts). I'd love to spend a lot of money and have thought of various things - like buying a Merc., a quality watch maybe but the car would be on the drive most of the time and someone might bash me on the head for the watch!