windfall to invest

Eco_Miser

Here's the full list of worthwhile interest paying bank (and building society) accounts. Something like £130k at 3% to 6% for a couple, with a little work. Well below FSCS limits in any one institution.
Keeping everything in cash is not foolish in the short term, but over decades funds should be considerably better. Using S&S ISAs protects from taxes, but you can only shelter so much a year, so you might consider investing a little every year.

MEM62

Dan83 wrote: »

Would you consider premium bonds?

Open 2 accounts, 1 in your name and 1 in your partners name, fill them both with the max of £50k.

The money has to be in a full calendar month before its entered into a draw, or it did when I bought them.

You will have the chance to win 1 of 2 £1m prizes every month.

There is a prize calculator some where on this site telling you what the average person with average luck will win.

Winnings average less then interest on current accounts but you could win anything from £25 to £1m per month and with 2 max accounts I'd guess your almost certain to win something every month

No risk there then!! What a great investment strategy :-)

MEM62

JohnRo wrote: »

I'll put mine on, it's spelled pedant. (sorry couldn't resist)

Oops. finger trouble!! :-O

jimjames

MEM62 wrote: »

No risk there then!! What a great investment strategy :-)

I can't tell if that's with humour hat on or not! (as well as the pendant head!)

No risk apart from potentially getting no return and your money losing out against inflation!

badger09

mrsp1987 wrote: »

Putting £60K in one High Street bank isn't necessarily foolish. You'll be getting a decent rate of interest compared to most savings and ISA accounts. You're also protected up to £75K with the FSCS deposit protection scheme.
I was in a similar position at the end if last year. We received £100K from my husbands FIL. We paid off our debts (couple of loans and C/C) and paid £10K off the mortgage. We're now figuring out what to do and where to put the rest. I've just, as in yesterday, switched our joint account to the S123 account so we'll get cash back on our bills and we'll put £20K in there so we get 3% interest on it too.
I think you're onto a good idea for you if you'd rather stick with cash savings. You can always get an appointment with a high street bank saying you're interested in their investment platforms and get some information on that. We went to Nationwide but decided not to use them as my husband decided to use Hargreaves & Landdown instead.

A high street bank or building society is one of the worst places to go for investments.

Beaten by scammers and cold callers (who are probably scammers anyway) obviously;)

mrsp1987

badger09 wrote: »

A high street bank or building society is one of the worst places to go for investments.

OP could still go and get some information so that he understands what they would do with his money. Doesn't necessarily have to sign up for anything. In fact, when we went the bloke we were talking to said he'd never get us to agree to something on the day so that we had the opportunity to think about it.

bigadaj

mrsp1987 wrote: »

OP could still go and get some information so that he understands what they would do with his money. Doesn't necessarily have to sign up for anything. In fact, when we went the bloke we were talking to said he'd never get us to agree to something on the day so that we had the opportunity to think about it.

Still pretty poor advice, one of the few places charging a 5% initial fee in many cases, better to read up on the Internet and propose some ideas for comment here when confident.

MEM62

jimjames wrote: »

I can't tell if that's with humour hat on or not! (as well as the pendant head!)

No risk apart from potentially getting no return and your money losing out against inflation!

Absolutely with the humour hat on.

xylophone

You might each consider using your ISA allowance which would use up a little over £30,000. Charles Stanley might suit?

I have found the Premier monthly income fund relatively stable - it pays the same amount for eleven months of the year with the final dividend being somewhat higher.

It ( or similar)would provide an income supplement with the prospect of some capital growth.

The balance of the cash held in high interest current accounts would provide a reasonable monthly sum without capital fluctuation.