Whats the use in being rich....

Redbedhead

I would have a fab holiday - something I hd always dreamed of. Then ensure my ISAs were maxed for the year and I had sufficient 'rainy day' savings. Then it would go against the mortgage.

If the money had come from a dead relative I would also spend a tidy sum on something I would have for a long time and that would always make me think of them.

runmartin

I would pay off the mortgage or at least convert it to an offset mortgage and use the money as and when required.

Jonbvn

nrsql wrote: »

Probably wouldn't pay off the mortgage. Are you on a fixed rate? if you fixed a while ago you could probably do better elsewhere.
Max out mini ISA's - drip feed the share ISA.
Pay some off the mortgage - maybe half?
NS&I index linked 3 yr certs.
High interest savings account.
Expensive meal maybe w/end away or holiday to celebrate.
Have fun.

This is just about what I would do. I would consider something pension wise, but I do know there is a big debate regarding ISA's vs Pensions.

BornSloppy

When I see (and hear the drum'n'bass ) four lads go past in Black Man's Wheels (BMW) I know they're dealing.[/quote]
What a pathetic remark. Back to the thread.......It's a boring answer but paying the mortgage off is the only option. It will give you freedom in the long run AND your bank will earn less. Everyone's a winner :j

redrabbit29

baby_boomer wrote: »

What's the use in being rich?

Why not put our self-centred loadsamoney professional footballers to shame by donating to charity?

You could save hundreds of lives in the Third World. Or fund a local community project for young people in your own neighbourhood.

And the taxman can add to your own gift.

Nice idea, but charity starts at home.

Gordon_the_Moron

I'd convert the mortgage to an offset one and offset it completely to just pay off the capital.

thewayitis_2

What Gordon said.

Offset the cash so you arent paying any mortgage interest. Then in a few years time when the housing market has gone t1ts up you could use some of it as deposit on a long term buy-to-let. The remaining lump sum you hold in your offset account to cover periods where you dont have a tenant in the rental property(s).

100k is a lot of money to see in one go, and as they say - you need money to make money.