£90,000k to invest for regular income

HELTO

I am 55 years old with no dependants and no mortgage and have inherited £90k.    I work part time so would like to increase my monthly income from this figure.  I considered buy to let but it seems fraught with issues and very little on the market for £90k where I live. Should I trust a financial advisor with this (bearing in mind my parents were advised to take out a Share Appreciation Mortgage which saw me give the bank 75% of my mums house) ?  Forgive me if I sound naive. 

Aylesbury_Duck

What pension provision do you have?

DiggerUK

An inheritance is usually a bitter sweet experience, I hope you are baring well.

For  now I would recommend you put it in Premium Bonds and the highest paying interest option. That will get it in a safe place whilst you decide what to do.

I am in the camp that says the only good financial advisor is someone you never meet. I also agree with your position on BTL. You should take this opportunity to clear any debts you have.
Do you need a new car? Home improvement? Dream holiday?(face mask optional)

Returns on equities are low and carry heightened risks of "not getting back what you put in". Interest rates on savings are rarely matching inflation, your options are limited. Take your time..._

Sea_Shell

How much income do you hope to achieve from £90k?

Each 1% annual return you achieve, is only £900 per year.  £75 per month.

Albermarle

By thinking about  the possibility of a financial advisor ( or not ) you are jumping too far ahead. 
You want to increase your current income but what about your income when you are no longer working ? Do you have a pension, now or from the past? Do you have any other savings at all ? Have you checked your state pension situation?https://www.gov.uk/check-state-pension

xylophone

NS & I income Bonds might suit for the time being.
https://www.nsandi.com/income-bonds

dunstonh

Should I trust a financial advisor with this (bearing in mind my parents were advised to take out a Share Appreciation Mortgage which saw me give the bank 75% of my mums house) ?

You shouldn't use an FA.  Your choice should be DIY or IFA.     Most IFAs do not do mortgages.  Mortgage advisers do mortgages.  Some jack of all trades will.     However, a shares Appreciation Mortgage meant your parents received a lump sum to spend as they wish.   So, why do you think there is a problem with that?

I work part time so would like to increase my monthly income from this figure.

Realistically, how much do you think £90k will generate?

polymaff

My first thought was - with ninety million, what's the problem? Ninety thousand is a different matter. With no commitments, family or financial, think about lifestyle.  Do you want to keep to what sounds like an ascetic lifestyle?  With no effort you can get about £1,000 per annum from NS&I Income Bonds - though interest rates are still falling.  Are you just trying to bridge between now and your State Pension Age (SPA)?  How much state and other pensions are you expecting?  How about your personal inflation?  If your expenditure is primarily goods rather then services then chances are that your personal inflation rate has been negative for some years - and may remain so until past your SPA.  That affects how you assess that £1,000 p.a.