How best to invest £160k

bristol2020

So I have recently come into some money and want some advice please. I have in the region of £160k to invest and want to know if im better off spreading the money around in Investments, ISA, Premium bonds etc or buying a second property and taking an income or reinvesting the rental payments etc.
We have a home worth £260k approx with a mortgage of £40k
Im 10 years or so off of retirement age, and my pension funds are not that exciting - maybe a couple of workplace pots worth £40k each.
Any immediate thoughts?

Stubod

Do you mean "Invest" or "save" or a combination of both?.... also ..depends on how you are fixed ref current pensions, what your expected spending is likely to be in retirement and your attitude to risk. (Also on your knowledge of the stock market, eg DIY or IFA for that sort of money).

For me it would be a combination of paying of mortgage first, (subject to interest rate), a couple of S&S ISA's, then max Premium bonds...but that's just me....

AnotherJoe

I wouldn't buy a second property the laws and tax treatment are getting more and more onerous, it's high risk and starts with most probably at least a 2 plus year wait just to break even once initial costs are catered for.

bristol2020

Well I wondered if investing in a second property may be a better investment than in S&S. We live in Wales so would pay lower LTT. Knowledge of stock market is not very strong so would go down the IFA route if we decided on that path.
Im also looking to change jobs in the near future

Wheres_My_Cashback

bristol2020 wrote: »

So I have recently come into some money and want some advice please. I have in the region of £160k to invest and want to know if im better off spreading the money around in Investments, ISA, Premium bonds etc or buying a second property and taking an income or reinvesting the rental payments etc.
We have a home worth £260k approx with a mortgage of £40k
Im 10 years or so off of retirement age, and my pension funds are not that exciting - maybe a couple of workplace pots worth £40k each.
Any immediate thoughts?

You have a very interesting post, history....says an awful lot about this post too !

AnotherJoe

bristol2020 wrote: »

Well I wondered if investing in a second property may be a better investment than in S&S. We live in Wales so would pay lower LTT. Knowledge of stock market is not very strong so would go down the IFA route if we decided on that path.
Im also looking to change jobs in the near future

From what I can see you'd pay more or the same.

bristol2020

Wheres_My_Cashback wrote: »

You have a very interesting post, history....says an awful lot about this post too !

How do you mean exactly?

bristol2020

AnotherJoe wrote: »

From what I can see you'd pay more or the same.

I meant rather than SD in England

Stubod

...defo a no no ref BTL....too much cost / hassle / risk for too little gain these days....

Albermarle

You have a very interesting post, history....says an awful lot about this post too !

Yes the OP seems to have had a dramatic change of circumstances in the last week !

badger09

Wheres_My_Cashback wrote: »

You have a very interesting post, history....says an awful lot about this post too !

Albermarle wrote: »

Yes the OP seems to have had a dramatic change of circumstances in the last week !

OP has in face made several references to an inheritance before this week.

If posters are going to comment on what others have previously posted, I think they should at least read those posts:cool:.

I'll leave my comments there.