Redundancy payout investment help?

CharlotteWalker

My husband is due to receive a lump sum redundancy payout which we want to invest and pay into our joint account as if he were still receiving a monthly salary. Where is the best place to invest this?

eskbanker

Are you looking for investment (capital at risk) or saving (capital protected)?  What's the size of the payout and how much do you anticipate drawing down each month?

Mr.Saver

The maximum statutory redundancy pay one can get is £16,140. Even he receives much more than that, say £30k, I still don't see how can someone live sustainably on the investment returns from this amount of money. You are talking about live on a monthly income of £100 or less.

Albermarle

Mr.Saver said:

The maximum statutory redundancy pay one can get is £16,140. Even he receives much more than that, say £30k, I still don't see how can someone live sustainably on the investment returns from this amount of money. You are talking about live on a monthly income of £100 or less.

It's not unheard of for significantly bigger payoffs than £30K and not just in the City.
Anyway lets see if the OP gives more details as they are a bit scarce so far.
No idea given of age , pension , other investments etc

Alexland

Yes many employers still pay more than statutory redundancy entitlement. What to do with the money really depends on circumstances.