Come into some money, need some advice

takuhii

Hi,
I recently came into some money, high end 5 figures, and wondered what I could do with it. I thought about investing it, but I don't think the interest/return would be substantial enough to live off.

Any ideas or advice would ve greatly appreciated

CLAPTON

takuhii wrote: »

Hi,
I recently came into some money, high end 5 figures, and wondered what I could do with it. I thought about investing it, but I don't think the interest/return would be substantial enough to live off.

Any ideas or advice would ve greatly appreciated

if you don't want to invest it then have you considered giving it away or spending it?

atush

First of all, pay off non mtg debt. Consider mtg debt too if rate or LTV is high.

Then cash savings for 6 months spending.

Then look at S&S isas and a pension (if you already have a pension, boost it)

Investments are for the future. It may not be enough to 'live on' now, but might be in future. One thing is certain, if you keep it in cash or spend it will never grow large enough. And even if not large enough to live on, it will make living easier now or in the future.

jimjames

takuhii wrote: »

Hi,
I recently came into some money, high end 5 figures, and wondered what I could do with it. I thought about investing it, but I don't think the interest/return would be substantial enough to live off.

Any ideas or advice would ve greatly appreciated

Just because you can't live off it now doesn't mean it's not worth doing.

Other options if you already have emergency fund sorted are pensions and S&S ISAs.