Investment advice required

Turner5353

Hi, I’m about to inherit around £70k + and it unsure how to invest it
I have an NHS pension with over 27yrs in service and hope to retire in 3yrs aged 55. My wife has an NHS pension also.
I own a property that’s rented out, mortgage is less than £15k owing, we live in my wife’s house again with a very low mortgage.
What do you all suggest.

Linton

What do you want the money for and when? A world cruise next year or an inflation linked £2500/year for the rest of your lives would lead to very different suggestions as to how or if you should invest your money.

Turner5353

I want to get the best from it so I can have a supplement to my pension income so I can enjoy my retirement.

george4064

I think you need to give more info about your current situation, including any ISAs/Pensions/other assets you/your wife own.

Without any info I would suggest you top-up your pension/ISA as much as you can. Good luck.

SonOf

Turner5353 wrote: »

I want to get the best from it so I can have a supplement to my pension income so I can enjoy my retirement.

Insufficient information to go on.

Tax position (now and future)
objectives (Short, medium and long term)
financial position (now and future)
risk profile (behaviour, tolerance and capacity for loss)
tax wrappers to fit the needs and objectives
and more.

Without detail, the responses with suggestions will not be based on what is right for you but what is right for the person responding.

cloud_dog

This...

george4064 wrote: »

I think you need to give more info about your current situation, including any ISAs/Pensions/other assets you/your wife own.

Without any info I would suggest you top-up your pension/ISA as much as you can. Good luck.

For example how will your fund your retirement from age 55?

Can you draw your NHS pension from 55, is there any actuarial reductions? Will it be funded from savings?

What income will you require? What does your retirement income profile look like currently?

Turner5353

Wow..lots more info required then. Thanks for your replies. I think me and wifey need to sit down and work out what we will require in the future before answering them all

Albermarle

Might be worth spending some time reading the answers to similar questions asked previously .
Follow this link and scroll down looking for threads mentioning 'lump sum or 'inheritance'
Obviously everybody's situation is different but it might give you some ideas.
https://forums.moneysavingexpert.com/search.php?searchid=194252925