What would you do with £250000?

Kimrb123

What would you do with £250000
 I have already, maxed out my premium bonds.
 I have a life time isa which I max out every year, for a pension.
I have just started to max out my isa allowance each year, in stocks and shares. Any profit  I make i use it as my income. (Tax free)
I have a buy to let that I have just started to let out this month.
I have been building up a portfolio of quite high risk funds/investments and put 10 percent each.
Any other ideas other than just high risk investments or does this sound okay?
I am an am a novice at this.

El_Torro

Since you say you’re a novice it might be a good idea to see an IFA. 

Based on what you say it is probably a good idea to start (or invest more in) a pension. 

Linton

Given the life-changing amount of money, possibly significant long term tax implications and your statement that you are a novice it would in my view be prudent to talk to a local High Street IFA (not a major national company).  You should be thinking through what you want the money for and when.  This will help determine what sort of investments are most appropriate.

In the meantime you can put it into NS&I which is guaranteed for any amount of money though of course the ineterest rates are low.

Kimrb123

Thanks 😊 
I saw a financial advisor a few years back and he was just trying to get me to invest in to something which I was not sure on. With starting fees of 5 percent plus additional fees, So I was concerned on who to trust.
I came into money at just 33 as I lost my late husband and I have never wanted to do anything silly with it.

steampowered

I would sell the premium bonds and put it into a stocks & shares investment instead.

Money kept in premium bonds over a long period of time is a risk to capital, as premium bonds return less than inflation.

Linton

Kimrb123 said:

Thanks 😊 
I saw a financial advisor a few years back and he was just trying to get me to invest in to something which I was not sure on. With starting fees of 5 percent plus additional fees, So I was concerned on who to trust.
I came into money at just 33 as I lost my late husband and I have never wanted to do anything silly with it.

That is why you must make sure you are talking to an IFA.  You pay them for advice.  If you talk to a someone who just calls themselves a Financial Advisor they will be more interested in selling you something.

Also beware of the large national companies.  5%/year sounds like one of those.  A local IFA would be much cheaper.

Albermarle

 I have a life time isa which I max out every year, for a pension.

As the max you can add to a LISA is £4K pa + £1k top up , then the final pot is always going to be limited in size.

For example £250K now seems a lot of money but if this was the size of your pension pot , then it would only generate about max £10K pa 

Normally adding to a normal pension is tax beneficial, but you would need to have earned taxable income to take advantage of this . Income from investments or BTL do not count.