£70000 to invest???

Brandnewstart79

Hello all,

I’m coming to the end of Military Career and I’m getting a a tax free lump sum of £70000. I’m 40 years old and also getting a monthly income of £750.

I’m wondering where I could invest the money to get the best return?

My credit rating isn’t the best also so opening bank accounts to move money is probably out of the question.

Thanks in advance.

Robin9

Will you have a income other than the pension and how will this compare with the military one ?

Have you a property or will you be buying/renting?

Albermarle

You could read a few similar threads:
https://forums.moneysavingexpert.com/discussion/6013684/ideas-for-saving-investing-in-2019
https://forums.moneysavingexpert.com/discussion/6008272/more-newbie-investor-advice
https://forums.moneysavingexpert.com/discussion/6010238/money-to-invest-looking-for-ideas
https://forums.moneysavingexpert.com/discussion/6007315/what-to-do-with-hubby-15k-redundancy
https://forums.moneysavingexpert.com/discussion/5996425/what-to-do-with-40k
https://forums.moneysavingexpert.com/discussion/5996665/how-best-to-invest-160k&highlight=inheritance

Brandnewstart79

Hi,

We’re going to stay in the military accommodation as we’re allowed to rent it off them for a cheaper market rate. I’m retraining at the moment before I leave the military to gain employment so with my monthly pension that will be our income.

xylophone

Savings rates here

https://www.thisismoney.co.uk/money/article-1583859/Best-savings-rates-General-savings-Internet-branch.html

You might be best holding on deposit until you have settled into your new career.

WillGates

Open a SIPP and put as much as you can in.