what do with house sale money if entering retirement

eastmidsaver

xylophone said:

hi i am writing on behalf of a couple i know who have recently entered into retirement. 

How old is each party?

hi,  i think 68 and 65.

eastmidsaver

Thanks for the further comments.

It is an interesting point from a poster above who mentioned to use it for spending so that they don’t get taxed in taking too much pension

I am not sure how much they will actually have after it is sold as they will pay remainder of mortgage and settle any capital gains etc, but I imagine it should be a decent sum.

Therefore with interest rates being so low, having it all as cash is probably not the best option due to inflation etc.

In terms of risk appetite, well they want to get out of the property game now and they won’t want too high risk such as 100% equity (and definitely not crypto).

But I believe they are willing to leave it in some form of investment for a few years.

As stated by a poster above, any suggestions are just that, and it provides ideas of what their options are, and to research, investigate and ultimately decide themselves.

However, I guess whatever option they do take (including spending), it would be a good idea to put as much as they can in some form of ISA.