It's time to start digging up those Squirrelled Nuts!!!!

westv

Sea_Shell said:

westv said:

My nuts could have been a lot bigger but, with a younger brother currently living there, I don't think I'll see the benefit of a recently inherited house any time soon.

Do you think you'll resolve this?   Do you think he might agree to move out and sell up one day?  I assume you both inherited equally.

I hope it doesn't turn sour for you, like we read so much of on the Families and Relationships board.

There are three of us.
I can't see him moving any time soon - he has no employment income - just benefits.
I imagine the only way to get any money would be some sort of equity release once he hits 55 in 7 years time.

Sea_Shell

westv said:

Sea_Shell said:

westv said:

My nuts could have been a lot bigger but, with a younger brother currently living there, I don't think I'll see the benefit of a recently inherited house any time soon.

Do you think you'll resolve this?   Do you think he might agree to move out and sell up one day?  I assume you both inherited equally.

I hope it doesn't turn sour for you, like we read so much of on the Families and Relationships board.

There are three of us.
I can't see him moving any time soon - he has no employment income - just benefits.
I imagine the only way to get any money would be some sort of equity release once he hits 55 in 7 years time.

How old are you and do you have kids, that you'd want to leave an (this) inheritance to?

If he's only 48, that could be a loooong wait, even if he agreed to ER!

Sorry, I'm taking my own thread OT!

I do have more than a passing interest in these situations, as there is a chance it may come to pass in my own future...unless I wade in and head it off.

westv

Sea_Shell said:

westv said:

Sea_Shell said:

westv said:

My nuts could have been a lot bigger but, with a younger brother currently living there, I don't think I'll see the benefit of a recently inherited house any time soon.

Do you think you'll resolve this?   Do you think he might agree to move out and sell up one day?  I assume you both inherited equally.

I hope it doesn't turn sour for you, like we read so much of on the Families and Relationships board.

There are three of us.
I can't see him moving any time soon - he has no employment income - just benefits.
I imagine the only way to get any money would be some sort of equity release once he hits 55 in 7 years time.

How old are you and do you have kids, that you'd want to leave an (this) inheritance to?

If he's only 48, that could be a loooong wait, even if he agreed to ER!

Sorry, I'm taking my own thread OT!

I do have more than a passing interest in these situations, as there is a chance it may come to pass in my own future...unless I wade in and head it off.

I'm 58, other brother is 60. None of us have children so we don't need a legacy.

Sea_Shell

westv said:

Sea_Shell said:

westv said:

Sea_Shell said:

westv said:

My nuts could have been a lot bigger but, with a younger brother currently living there, I don't think I'll see the benefit of a recently inherited house any time soon.

Do you think you'll resolve this?   Do you think he might agree to move out and sell up one day?  I assume you both inherited equally.

I hope it doesn't turn sour for you, like we read so much of on the Families and Relationships board.

There are three of us.
I can't see him moving any time soon - he has no employment income - just benefits.
I imagine the only way to get any money would be some sort of equity release once he hits 55 in 7 years time.

How old are you and do you have kids, that you'd want to leave an (this) inheritance to?

If he's only 48, that could be a loooong wait, even if he agreed to ER!

Sorry, I'm taking my own thread OT!

I do have more than a passing interest in these situations, as there is a chance it may come to pass in my own future...unless I wade in and head it off.

I'm 58, other brother is 60. None of us have children so we don't need a legacy.

Ah, ok.    Does your will, give your 1/3 share to your brother's?

westv

We have been given 1/3 each of the house.
I need to update my will as it doesn't mention the house.
My 1/3rd would go to my wife.

Sea_Shell

westv said:

We have been given 1/3 each of the house.
I need to update my will as it doesn't mention the house.
My 1/3rd would go to my wife.

That could get awkward if she were to end up part owner with her two BiLs!!

It might actually be best NOT to specifically mention the house.   But to include a clause that assets must be sold.   But then IANAL!! 😉

Would your wife need access to this money if you were no longer around?

westv

Sea_Shell said:

westv said:

We have been given 1/3 each of the house.
I need to update my will as it doesn't mention the house.
My 1/3rd would go to my wife.

Would your wife need access to this money if you were no longer around?

No, she would have enough. The share of the house would be icing on the cake.

Sea_Shell

Well we've squirrelled away our final "spare " £2000 into our ISA.   This is "shouldn't need before September" money, but we're keeping it in cash, just in case we do.   If we don't then we'll invest it in September.     We literally now have £9000 to last until then, when a 5 year fixed term saver matures.   It'll be sad to see the end of a 2.2% interest rate!!

cfw1994

Sea_Shell said:

Well we've squirrelled away our final "spare " £2000 into our ISA.   This is "shouldn't need before September" money, but we're keeping it in cash, just in case we do.   If we don't then we'll invest it in September.     We literally now have £9000 to last until then, when a 5 year fixed term saver matures.   It'll be sad to see the end of a 2.2% interest rate!!

Would you consider yourselves cautious investors?
I only ask because I kicked myself for taking out 5 year cash ISAs a few years back - yes, they were over 2% interest (heady days!), but without *needing* access to it urgently, I feel we would have been far better off in S&S ISAs (& the markets reflect that!).   
Of course no-one knows when is good to invest - I totally understand a reticence today to put that into the markets, but nonetheless, research I recall reading did show that you were better off around 2/3rds of the time by investing a lump sum immediately!
I believe in trickle investing, so if I felt I was going to invest 2k in 6 months, I'd probably invest around £300 pcm from today.   Who knows...the current dip may be "the low" for the next few years.....

Sea_Shell

Not overly cautious, no.   We have a spread we're happy with. Inc £100k in a 100% equities fund.

It's just we know that for the next two tax years, we will be maxing out both our ISAs, which will all be invested, so we'd have no room for this little bit, so that's the only reason we've added it, rather than keep it "handy" at 0.5%!!

Saying that, if an opportunity too good to miss presented itself...then we may pull the trigger early 😁