We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Lump sum
doownai
Posts: 13 Forumite
Hello all, help/advice needed please. I have a lump sum of approx £15,000. What are the best options to 'stash' it away for a rainy day up until I retire in 5 years.
Thanks in advance.
Woody
Thanks in advance.
Woody
0
Comments
-
Could you get tax relief by putting it in a pension ( if you are certain you don’t need it).
otherwise I’d be tempted by premium bonds.
another option is S&S ISA.2 -
you can get about 2% on 5 year fixes at the moment - I think that beats Premium Bonds. So if you definitely don't need it then I'd do that. Either that or pension anyway..0
-
So you have enough "relevant earnings" to be able to use it to make a contribution to your pension?0
-
Do you intend to withdraw/spend it as soon as you retire ? Is it a lot of money compared to your pension/other savings , or not ?doownai said:Hello all, help/advice needed please. I have a lump sum of approx £15,000. What are the best options to 'stash' it away for a rainy day up until I retire in 5 years.
Thanks in advance.
Woody0
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.3K Banking & Borrowing
- 253.6K Reduce Debt & Boost Income
- 454.3K Spending & Discounts
- 245.3K Work, Benefits & Business
- 601K Mortgages, Homes & Bills
- 177.5K Life & Family
- 259.1K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards