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Low risk saving for the proceeds of our house sale.
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Gypsysmum
Posts: 33 Forumite
Hello O Wise Ones
We are near to a deal on our house sale. Proceeds will be about £380,000.
Our plan is to buy our daughter's house, which is currently let to a very good tenant, and is worth approx. £180,000.
The next purchase will be our dream fifth wheeler (large caravan type thing) with truck to tow it, so that we can go travelling before we are too old (in our 60's now). Cost new £90,000 for both truck and trailer.
Our travelling will be financed by our modest pensions and the rental income from the house. That is not our concern at the moment as we are good at living on a budget. When finished travelling we may sell the rental house and buy another, possibly more expensive (circa £225k ish at present prices) house.
My question is about investing the balance of the money which I calculate to be circa £100,000.
I quite fancy some premium bonds as a safe gamble. Other than that I know that I ought to top up our ISA's. We do not have much in the way of savings - about £8,000 in both our ISA's with room to add more this year and, of course, put the full allowance in next year.
We both hate not being able to get our hands on any savings, that we have, so are not really interested in any locked in deals. There is also the possibility that our dream retirement property might come up at any time and we want to be in a position to act quickly to secure it.
My husband has just £5,000 of life insurance and I have none so I thought we ought to pre pay for our funerals?
Looking forward to any advice you are able to give.
Pat
We are near to a deal on our house sale. Proceeds will be about £380,000.
Our plan is to buy our daughter's house, which is currently let to a very good tenant, and is worth approx. £180,000.
The next purchase will be our dream fifth wheeler (large caravan type thing) with truck to tow it, so that we can go travelling before we are too old (in our 60's now). Cost new £90,000 for both truck and trailer.
Our travelling will be financed by our modest pensions and the rental income from the house. That is not our concern at the moment as we are good at living on a budget. When finished travelling we may sell the rental house and buy another, possibly more expensive (circa £225k ish at present prices) house.
My question is about investing the balance of the money which I calculate to be circa £100,000.
I quite fancy some premium bonds as a safe gamble. Other than that I know that I ought to top up our ISA's. We do not have much in the way of savings - about £8,000 in both our ISA's with room to add more this year and, of course, put the full allowance in next year.
We both hate not being able to get our hands on any savings, that we have, so are not really interested in any locked in deals. There is also the possibility that our dream retirement property might come up at any time and we want to be in a position to act quickly to secure it.
My husband has just £5,000 of life insurance and I have none so I thought we ought to pre pay for our funerals?
Looking forward to any advice you are able to give.
Pat
0
Comments
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Initially, put the whole of the house sale proceeds in NS&I.
http://www.nsandi.com/savings
Buy your daughter's house and the caravan.
Buy your funeral plans.
Top up your ISAs. Keep your eye on rates and be ready to move providers.
Put the rest in the best paying account you can find at the time? Ditto re rates.0 -
I love the idea of your plan. I'd love to do that. Wishing you a wonderful, happy retirement!0
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