Saving/investing £150k

wibbler

Some friends of mine have received an inheritance of around £150k. They are both retired and in their early 70s. They've looked at interest rates for savings account and they are pitiful. My question for all you money gurus - what would you do With the money to get the maximum return relatively safely?

TheTracker

If you type 150k into Forum Search, or better still additionally Search Titles Only in Advanced Search, you find 5 threads over the last 6 months asking the same question. As you've only provided generic information you can only hope for a repeat, at best. If you provide specific details about what the owners want, and what their position is, you may receive more targeted advice. As it is the only advice can be to funnel the first few tens of thousands into high interest current accounts and put the remainder into an account paying about 1.4% only. The key question is whether or not they will ever spend the money in the next ten years. If not, invest it.

atush

Do they have dependents? Do they alreeady have enough to live on? Are they in good health?

If they wanted to pass some on, they could try a deed of variation or a straight gift (have to live for 7 years for it to be out if IHT).

If they need income, and have enough cash for several years spending, they could invest some in ISAs in income funds or good income producing investment trusts.

Dird

They're in their 70s! If now isn't the time to spend it when is?

NS&I and start traveling etc

Eco_Miser

If they can be bothered setting up all the accounts, they can get some £135,000 in current accounts paying 3%-5% AER, and then £3900 per month in 4%-6% AER Regular savers.
https://forums.moneysavingexpert.com/discussion/5374614

That's all as safe as the FSCS guarantee.
They might like to invest £15k each in a S&S ISA.
http://monevator.com/category/deaccumulation-2/ has some ideas what to bu within the ISAs.
Other parts of the site are well worth reading as well.