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Help got 120K what do we do with it.
sexy_fufu
Posts: 758 Forumite
Hi My moms got 120K to invest.
She dont really need the money but would like to maybe get hold of it if need be.
Also we know nothing about shares so dont want to go down that route.
Whats the best thing to do...
I was thinking maybe icesave or something like that..
She dont really need the money but would like to maybe get hold of it if need be.
Also we know nothing about shares so dont want to go down that route.
Whats the best thing to do...
I was thinking maybe icesave or something like that..
:ASexy_fufu:A
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Comments
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I guess that investing in Northern Rock is not on the cards? Lol0
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whilst you have ruled out single company shares, there are plenty of other investment options. However, you have mentioned savings as a possible option.
So, does she want to invest or save the money?I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
It all depends on what your mom's money plans are. For example, does she need it to be readily accessible? If so, real estate is probably not a good place. Also, how much risk is she willing to take in exchange for potential gain or loss.0
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ermmm she wants very low risk.
Thats why i was looking at savings....
She doesnt want to go into property, just want to keep it somwehere safe and get plenty of interest back of it.:ASexy_fufu:A0 -
Yeah think we will put all 120k in with Northern Rock.
PMSL:ASexy_fufu:A0 -
What is her tax position? what is her age? is her income close to £20,900?I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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I wouldn't rule out shares just because she doesn't know much about it. Shares have the potential to offer the best returns over the longer term, and so why not try to learn as much as you can on the subject? I'm relatively new to it all but doing OK... I bought 'share investing for dummies' or similar, read a lot online, and am gradually finding my feet. It's not so daunting if you try to learn about it.0
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My dad died, so she got 120k from his pension in a lump sum, she gets widows pension of £80 per week and my dads pension she no longer works
she is 54 years old.
Her tax code is 0:ASexy_fufu:A0
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