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I want a monthly income from my inheritance, what should I do?

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Comments

  • kangoora
    kangoora Posts: 1,193 Forumite
    Eighth Anniversary 1,000 Posts Name Dropper
    All interest rate quoted are p.a. (per annum) which is 2% a YEAR. 70k invested at 2% = £1.4k/YEAR or £116.66 per month interest.

    You really don't understand this whole money thing, do you?

    I'd suggest you speak with a financial adviser and actually listen this time.
  • HappyHarry
    HappyHarry Posts: 1,839 Forumite
    Tenth Anniversary 1,000 Posts Name Dropper
    smashy wrote: »
    No, it is actually a 2% interest monthly, not annually.

    Are you sure it's not 2% per year, and just paid in 12 monthly payments?
    I am an Independent Financial Adviser. Any comments I make here are intended for information / discussion only. Nothing I post here should be construed as advice. If you are looking for individual financial advice, please contact a local Independent Financial Adviser.
  • DrSyn
    DrSyn Posts: 899 Forumite
    Part of the Furniture 500 Posts
    There can only be two options as far as I can see.

    Either (a) Your are incredibly bad at maths (b) You are a troll.
  • Afraid_of_Kittens
    Afraid_of_Kittens Posts: 342 Forumite
    100 Posts Second Anniversary Combo Breaker
    Stick £20k in a stock and shares ISA - gamble it on a good international tracker.

    Stick a chunk in a good pension fund.

    Thank your future self for your plump ISA and Pension Pot.
    I enjoy flower arranging, kittens, devil worship, the study of serial killers and their methods and road kill jigsaws.
  • AnotherJoe
    AnotherJoe Posts: 19,622 Forumite
    10,000 Posts Fifth Anniversary Name Dropper Photogenic
    smashy wrote: »
    No, it is actually a 2% interest monthly, not annually.


    OK, so you are either (a) a troll, (b) an idiot that is actually getting 2% a year, or (c) an idiot that's invested in a bond you saw on a facebook advert that will go bust within a few months and you'll lose all your money.
  • bostonerimus
    bostonerimus Posts: 5,617 Forumite
    Sixth Anniversary 1,000 Posts Name Dropper
    edited 19 September 2019 at 1:20AM
    AnotherJoe wrote: »
    OK, so you are either (a) a troll, (b) an idiot that is actually getting 2% a year, or (c) an idiot that's invested in a bond you saw on a facebook advert that will go bust within a few months and you'll lose all your money.

    a) and b) are often combined...trolls are usually idiots.
    “So we beat on, boats against the current, borne back ceaselessly into the past.”
  • Zero_Sum
    Zero_Sum Posts: 1,567 Forumite
    smashy wrote: »
    No, it is actually a 2% interest monthly, not annually.

    24% a year. Of course you are......


    Actually there are ways to get this return but only on small amounts that will give you about £10 a month.
  • dales1
    dales1 Posts: 271 Forumite
    Eighth Anniversary 100 Posts Name Dropper
    Happy Harry #24 above has got it.
    It's 2% per year, paid monthly.
    Dales.
  • Brynsam
    Brynsam Posts: 3,643 Forumite
    Fifth Anniversary 1,000 Posts Name Dropper Combo Breaker
    Deleted_User wrote: »
    Wise words, mate.

    Absolutely. Er - what do they mean, exactly?
  • Clive_Woody
    Clive_Woody Posts: 5,942 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    Deleted_User wrote: »
    Wise words, mate.
    He should charge for advice like that.
    "We act as though comfort and luxury are the chief requirements of life, when all that we need to make us happy is something to be enthusiastic about” – Albert Einstein
This discussion has been closed.
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