New to Investment

Hi there
I have 90k coming to me within the next few weeks and I have no idea what to do with it.

I want to try and invest some in the best possible places but wouldnt even know where to start!!

Any advice?

Replies

  • JohnRoJohnRo Forumite
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    A few details about personal circumstances would help, as well as your intentions for the future and how this money might then be used to assist.
    'We don't need to be smarter than the rest; we need to be more disciplined than the rest.' - WB
  • saver861saver861 Forumite
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    hermines wrote: »
    Hi there
    I have 90k coming to me within the next few weeks and I have no idea what to do with it.

    I want to try and invest some in the best possible places but wouldnt even know where to start!!

    Any advice?

    Well if you knew it was coming it might have been prudent to have done the research earlier and thus be clear on your options.

    If it has been a sudden windfall then that would be a different matter. Either way, I would be conversing with some trusted family members/colleagues etc as a starting point for references to someone who can give you good specific advice.


    Your OP suggests you need more help than a public forum though, doubtless you will get some sound advice in between a lot of gibberish. However, there is not really a lot to go on from your post!!
  • tigerspilltigerspill Forumite
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    Hi
    Welcome to the forum.

    Have a read at this thread for some initial pointers.
    http://forums.moneysavingexpert.com/showthread.php?t=5142443
  • brassobrasso Forumite
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    saver861 wrote: »
    Well if you knew it was coming it might have been prudent to have done the research earlier and thus be clear on your options.

    If it has been a sudden windfall then that would be a different matter. Either way, I would be conversing with some trusted family members/colleagues etc as a starting point for references to someone who can give you good specific advice.


    Your OP suggests you need more help than a public forum though, doubtless you will get some sound advice in between a lot of gibberish. However, there is not really a lot to go on from your post!!

    That's a bit mean.

    Who knows how long the OP has known of his/her windfall? He may have only just found out.

    Not sure about asking work colleagues and my family -- unless they happen to include people with a comprehensive knowledge of savings/investment options. Sounds like he might get the same advice as asking the bloke down the pub.

    But you're right that without any idea of age, circumstances, plans, attitude to risk etc, there is little specific advice that can be given.
    "I don't mind if a chap talks rot. But I really must draw the line at utter rot." - PG Wodehouse
  • saver861saver861 Forumite
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    brasso wrote: »

    That's a bit mean.

    It was not intended as such.
    brasso wrote: »
    Who knows how long the OP has known of his/her windfall? He may have only just found out.

    Yes as I said in my post - there are two possibilities - one that it was a known income or that it was a sudden windfall. If it was known for sometime then I would have thought some ground work would have been done prior.
    brasso wrote: »
    Not sure about asking work colleagues and my family -- unless they happen to include people with a comprehensive knowledge of savings/investment options. Sounds like he might get the same advice as asking the bloke down the pub.

    No - I was not suggesting the OP ask friends/family for actual financial advice but ask for references to anybody that can give sound financial advice. Picking an IFA from the Yellow Pages is not usually the best option.

    So maybe the OP just suddenly got lucky or maybe its been on the cards for a time. Maybe its wishful thinking that 90k is coming ... lots of maybes ... :)
  • I put my property up for sale, and it sold within 12 hours, so wasnt expecting that. Im 35, female and married.
    I dont have a mortgage otherwise would use the funds to pay off etc.

    It would be good if I could invest some to get some return, as I said I have no idea about the best ways to invest money.

    Is it even safe to keep 90k in one account?
    Should I be spreading it across ISA's etc

    Thanks
  • saver861saver861 Forumite
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    hermines wrote: »
    I put my property up for sale, and it sold within 12 hours, so wasnt expecting that. Im 35, female and married.
    I dont have a mortgage otherwise would use the funds to pay off etc.

    It would be good if I could invest some to get some return, as I said I have no idea about the best ways to invest money.

    Is it even safe to keep 90k in one account?
    Should I be spreading it across ISA's etc

    Thanks

    You might be thinking about this the wrong way round. Firstly you need to decide what your future plans are e.g. are you intending to buy another house - if so, accessibility is a must.

    Also, I know from experience, in house sale territory, you can't be sure of the cash until you have your hands on it - literally.

    But essentially your future requirements, particularly short term, determines the best type of investment for you.
  • jimjamesjimjames Forumite
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    hermines wrote: »
    I put my property up for sale, and it sold within 12 hours, so wasnt expecting that. Im 35, female and married.
    I dont have a mortgage otherwise would use the funds to pay off etc.

    It would be good if I could invest some to get some return, as I said I have no idea about the best ways to invest money.

    Is it even safe to keep 90k in one account?
    Should I be spreading it across ISA's etc

    Thanks

    As well as answering questions, this has opened a huge number of other ones!

    Do you need to buy a new property?
    What pension provision do you have?
    Cash emergency savings?
    Do you have any investments?

    You can only put £15k into an ISA so that's at least 6 years you need to look at other options for. If you don't need the money then I'd suggest looking at investing at least part of it which could be done using a S&S ISA
    Remember the saying: if it looks too good to be true it almost certainly is.
  • atushatush Forumite
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    I agree with Jim.

    Do you need the money to buy elsewhere or was this a second property? Do you and the OH have pensions? What type and how much? Other savings? Ie emergency cash? Other investments?

    Ideally, if you have no debt to clear and have an emergency cash pot, i'd be boosting pensions and opening S&S isas etc.
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