What to do with my inheritance ?

badger09

bcfclee27 wrote: »

Update !!!

So after mulling over all the advice on this thread and speaking to the IFA I have done the following....

- 40k - Mortgage - I have just re-mortgaged for 5 years fixed @ 1.9%. I have paid 40k off of the balance.
- 10k - Loans - paid off car loan and money owed to father in law.
- 100k - Investment portfolio going into S&S ISAs.

This leaves 40k to play with which I will consider investing over next few years or maybe even pay down mortgage further.

Just want to thank everyone on this thread for their input - without which, rightly or wrongly I would have paid all into my mortgage.

Assuming you mean you and your wife, max you can put in is 2 X £20k now, 2 x £20k on April 6th 18 & remaining £20k 6th April 19.

What is happening to the £40k between now and April 18 & £20k between now and April 19? :cool:

bcfclee27

badger09 wrote: »

Assuming you mean you and your wife, max you can put in is 2 X £20k now, 2 x £20k on April 6th 18 & remaining £20k 6th April 19.

What is happening to the £40k between now and April 18 & £20k between now and April 19? :cool:

Yes me and my wife.

They are in a GIA.

mhoc

bcfclee27 wrote: »

Update !!!

So after mulling over all the advice on this thread and speaking to the IFA I have done the following....

- 40k - Mortgage - I have just re-mortgaged for 5 years fixed @ 1.9%. I have paid 40k off of the balance.
- 10k - Loans - paid off car loan and money owed to father in law.
- 100k - Investment portfolio going into S&S ISAs.

This leaves 40k to play with which I will consider investing over next few years or maybe even pay down mortgage further.

Just want to thank everyone on this thread for their input - without which, rightly or wrongly I would have paid all into my mortgage.

Also can I ask how old are the kids? If they are still in primary school then it might be a good time to start some long term investment for the purposes of higher education fees or possibly lump sums towards first home deposits.