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How would you invest £50k?
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ShinyStarlight1 said:Hello all
I have inherited some money following the deaths of my parents, and would like your thoughts on how to invest it. I have never had money before so it is an unfamiliar world, though I am reading what I can.
My situation is that I am:
Married.
Mortgage-free.
Due a full state pension in 8 years time.
At the limit of my Premium Bond allowance.
Paying £2880 per year into an online pension (I am not earning so cannot save more).
Living with a progressive chronic disease so I don’t assume I will live to a ripe old age, though there is a confounding chance that I might!
Helping those I love or care about whenever I can.
I am comfortable taking a considered risk, although I’m always mindful that my parents left this money for me so wouldn’t want to squander it.
I would be very interested in hearing a range of your thoughts about what to do with the £50k, in the light of the above.
Thank you all in advance. I follow these forums and enjoy seeing the breadth of knowledge here, though I don’t understand half of it!I'd also support having a holiday while you can. Also, if your progressive disease implies progressive disability, look to buying things to make your life easier, as needed. From extra handrails, ramps, to mobility scooter or lift.Meanwhile, try to get the highest return from saving accounts, maybe consider some 'safe', boring index-linked fund in an S&S ISA for some small part you can afford to see halve in value, avoid get-rich-quick schemes - it's not you that gets rich.Eco Miser
Saving money for well over half a century1 -
Albermarle said:I have never had money before so it is an unfamiliar world
However you apparently have £50K in Premium Bonds
At the limit of my Premium Bond allowance.
So you should take a step back as in reality you now have £100K as starting point for any decisions about what to do. Quite likely having 50% of it in premium bonds is not the right way forward.
In other words how you might invest/save a £50K inheritance if that was the only money you had, will be different as to how you might invest/save it when you already £50K in savings/premium bonds.
I am considering what to do with the remainder and, having no experience of investing, I wondered what others would do.0 -
You don't mention an ISA.
You might consider opening a stocks and shares ISA.
Hargreaves Lansdown might suit as the web site is user friendly for a beginner,
https://monevator.com/best-global-tracker-funds/
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