How best to invest 50k

DrSyn

1. Make sure you have enough set aside as an emergency "rainy day" fund. This could be kept in a savings account or an interest paying current account.


2. As you say you have no financial experience, the next thing is to read up on things you can do, with whats left of your £50k. Remember no one will care about your money as much as much as you do.

Below are some links you can look at.

http://www.moneysavingexpert.com/banking/

https://www.citizensadvice.org.uk/resources-and-tools/search-navigation-tools/Search/?q=investing

http://monevator.com/highlights/
(also look in the menu at the top left hand corner).


3. These 5 videos give you one approach to investing.

http://monevator.com/this-former-hedge-fund-manager-reveals-how-you-can-invest-for-life-in-five-quick-videos/

4. From information you have given, I do not think an IFA would be interested in you and their fees might be more than you would want to pay.

jrb4434

Thanks DrSyn, the videos are very informative... Confused the pants off me in places but all the same they were in no doubt food for thought and I will continue to investigate all options.

jennyjj

Like Alice said, with the added advice.
Consider investing in yourself as a profitable enterprise. There's a lot to be said for starting your own venture, especially if your conventional employment options are restricted. Maybe set aside £10K or so of your 'windfall' to see if you can establish a self employment opportunity.
The enhanced empowerment of being self sustaining with a sideline could make your 'enforced' retirement much more fun.

elephantrosie

is it safer to invest in share ISA, in comparison to private shares?

AnotherJoe

elephantrosie wrote: »

is it safer to invest in share ISA, in comparison to private shares?

What are private shares ???

eskbanker

elephantrosie wrote: »

is it safer to invest in share ISA, in comparison to private shares?

http://forums.moneysavingexpert.com/showpost.php?p=71599409&postcount=37 answers a similar question asked by someone else who appeared not to understand what a S&S ISA actually is....

jrb4434

After some deliberation I've pretty much decided I like the look of the Vanguard life strategy products.

Any thoughts, good or bad?!

AnotherJoe

jrb4434 wrote: »

After some deliberation I've pretty much decided I like the look of the Vanguard life strategy products.

Any thoughts, good or bad?!

They are a decent, no fuss option and you can choose the risk level you feel comfortable with, 20 lowest, 100 highest. I have some 40 (to balance off some of my other very scary investments which on the 20-100 vanguard scale would be about 500 :eek:

jrb4434

once I gain experience and confidence I may decided to dip my toe in some riskier waters ��

jrb4434

Just one other question I'd like to put out there....

I intend to pull the trigger on my little venture early in the new year. My aim is to use my full ISA allowance prior to 5th April (£15240 ( Vanguard my chosen atm)) then again on the 6th (£20000).
My question is; do I top up the firs ISA with my second years alloence, or do I opt for a second, new, ISA? Not sure how it all works?!
If either are options then which is best..? Or should I opt for a new ISA with a different provider?
Sorry in advance if it's a silly question but I'd like to be sure in my mind before I commit...