Inheritance lump sum

Isla1972

I've been lucky enough to inherit £300,000 ish and looking to invest 

I have no mortgage, no debt and a few savings already 
I have nobody to leave my house to as such so can remove the capital in it too if I need to 
I'd like to get a income off it and not really bothered it grows massively just want to invest it so it doesn't loose money 

So far I've thought about putting it in ..
20k in isa maybe skipton add isa each year 
85k in 2x accounts suggestions welcome?
Thought about premium bonds .. any views on them ? 

Any ideas on buying a authentic Rolex as investment a good friend has done well with this ?? 

Not sure about property as I think that would tie it up more than I think I need 

la531983

What are your pension arrangements? Can you blast more into those?

wmb194

Isla1972 said:

I've been lucky enough to inherit £300,000 ish and looking to invest 

I have no mortgage, no debt and a few savings already 
I have nobody to leave my house to as such so can remove the capital in it too if I need to 
I'd like to get a income off it and not really bothered it grows massively just want to invest it so it doesn't loose money 

So far I've thought about putting it in ..
20k in isa maybe skipton add isa each year 
85k in 2x accounts suggestions welcome?
Thought about premium bonds .. any views on them ? 

Any ideas on buying a authentic Rolex as investment a good friend has done well with this ?? 

Not sure about property as I think that would tie it up more than I think I need 

https://moneyfactscompare.co.uk/savings-accounts/

Don't buy a Rolex or any other watch as that market has come completely off the boil and you also need a good amount of knowledge. Buy one because you like it and want to keep it, not because you think it's an investment.

Albermarle

Isla1972 said:

I've been lucky enough to inherit £300,000 ish and looking to invest 

I have no mortgage, no debt and a few savings already 
I have nobody to leave my house to as such so can remove the capital in it too if I need to 
I'd like to get a income off it and not really bothered it grows massively just want to invest it so it doesn't loose money 

So far I've thought about putting it in ..
20k in isa maybe skipton add isa each year 
85k in 2x accounts suggestions welcome?
Thought about premium bonds .. any views on them ? 

Any ideas on buying a authentic Rolex as investment a good friend has done well with this ?? 

Not sure about property as I think that would tie it up more than I think I need 

It is not clear from your post whether you are thinking about investing ( in stocks and shares etc) or saving.
The two are quite different. Investing is for the long term and saving for the short term , with a mixture for the medium term.
£300K is a lot of money for just to be looking for random suggestions from an internet forum. So before rushing into anything I would suggest that ;
Either you spend some time researching personal finance, pensions, tax, savings and investment accounts, risk management  etc
Or you employ an independent financial advisor.

Isla1972

la531983 said:

What are your pension arrangements? Can you blast more into those?

I've upped my work pension 

Bigwheels1111

Watch out on the 85k, it covers the money. But not interest.
80k at 6% = £4800 so no risk if paid away yearly.

Isla1972

Bigwheels1111 said:

Watch out on the 85k, it covers the money. But not interest.
80k at 6% = £4800 so no risk if paid away yearly.ew 

Never knew that so thank you 

Isla1972

Anyone know the best place/way to find a unbiased financial advisor or are they all on commission to a company so push you to use that company 

Isla1972

@Albermarle I'd say probably mixture as I want to use/ live off the money until I retire (maybe draw a income off it)
A lot of my family died young and didn't even see their pension so I don't see the point of saving it all away for the future and not enjoying it 
I'd say I'm in the lucky position to have the inheritance, my house and some savings 
A pension in the future too as well as old age pension 
Hope that helps and makes a bit more sense 

jimexbox

Myself, I want to maximise my enjoyment of life now (early 50's) and the next 20 years. I know folk that are working dreadful jobs with massive amounts of stress for the pension. I have a fairly decent pension pot, so I intend to work part time soon and use savings/inheritance and investments to help support a more relaxed lifestyle. Basically tick over until I fully retire. 

eskbanker

Isla1972 said:

Anyone know the best place/way to find a unbiased financial advisor or are they all on commission to a company so push you to use that company 

https://www.moneysavingexpert.com/savings/best-financial-advisers/#find suggests a couple of sites (or preferably word of mouth), but unbiased.co.uk has apparently changed its business model over the years and is no longer as useful as when that article was written, especially when it seemingly includes tied FAs as well as (independent) IFAs.

IFAs aren't allowed to operate on a commission basis....