Divorce money...what to do?

hyperballad0

I am due to receive a sizeable lump sum from my divorce and I'm looking at ways to invest it without any risk i.e. no stocks/shares. I am happy to lock in the majority for 1 year max and perhaps the remaining in an ordinary savings account. However with the saving rates so low at the moment, I'm not sure what to do to make this lump sum work as hard as possible for me. Any advice from MSE or someone whose been in a similar situation, would be gratefully appreciated 🙏 Thank you

Thrugelmir

Investing by it's very nature requires taking a degree of risk. Savers cannot expect good returns for no risk. What do intend using the money for longer term ? 

Alexland

Yes S&S investments are only suitable for periods of at least 5 years so for anything which you need access to before that you are best sticking to cash. Most people would build up more in S&S (via pensions, etc) than they hold in short term cash so overall would have a reasonable chance of beating inflation across all their money. For your cash savings stick to the MSE best buy tables as there are still a lot of scams out there.

cattie

In your shoes I'd also consider putting a proportion of the cash into premium bonds. With interest rates so low it's worth getting the chance of some wins here & there instead of receiving interest. So far this year I've had 8 x£25 wins & whilst not a fortune, it's a buzz to find I've won something.