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Money in Limbo..Where would it be safe..Stuck!
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Maybug
Posts: 1 Newbie
I've just joined the Forum as I've searched and searched for something applicable to my predicament with no luck.
I have received my divorce settlement quicker than I was expecting. I complete on my new house in a week and was only expecting monies to cover this initially.
So, I plan to invest the majority of the remainder but having not settled on a broker yet I'm not sure what I should do with this extra money in the short term. Seems silly to leave it in a current account but I'm nervous to stick it into even an instant access account as I worry this will make my tax return more complicated and it'll be the first time I have to do one of those my entire life!
I'm hoping to have things sorted in a month or so but I know this money should be working for me from the get go.
Anyone got any ideas...I'd be really grateful:)
I have received my divorce settlement quicker than I was expecting. I complete on my new house in a week and was only expecting monies to cover this initially.
So, I plan to invest the majority of the remainder but having not settled on a broker yet I'm not sure what I should do with this extra money in the short term. Seems silly to leave it in a current account but I'm nervous to stick it into even an instant access account as I worry this will make my tax return more complicated and it'll be the first time I have to do one of those my entire life!
I'm hoping to have things sorted in a month or so but I know this money should be working for me from the get go.
Anyone got any ideas...I'd be really grateful:)
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Comments
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For such a short period of time, I would be inclined to place it in a high interest current account. A few of the high street banks have excellent interest rates at the moment. Santander springs to mind but there are others too.Mortgage free 10 years early and retired at the age of 55:j0
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Without further information it is quite impossible to give any meaningful answer. At the very least, we need to know the sums involved but additional information such as tax rate, employment status, size of emergency cash fund, status of pension provision etc would greatly help people to make suggestions.0
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