What to do with sold property money?

user1977

Given the OP talks about using the funds in retirement, the obvious money-saving option would be to put it in a pension fund, if they haven't already maxed out their contributions for tax purposes.

BungalowBel

Thanks for the suggestions.  We are both in our 70s and  have no mortgage or other debts.  We are OK for income and savings.  

We thought we would spend some of it .  Pay our son's mortgage off (around £20k), have our bungalow re-roofed and re-rendered (about the same), have a nice holiday visiting my cousin in Colorado USA (10k-ish?).   This would still leave us around 60k .  Some will go into Premium Bonds.  Don't know about the rest.

Albermarle

BungalowBel said:

Thanks for the suggestions.  We are both in our 70s and  have no mortgage or other debts.  We are OK for income and savings.  

We thought we would spend some of it .  Pay our son's mortgage off (around £20k), have our bungalow re-roofed and re-rendered (about the same), have a nice holiday visiting my cousin in Colorado USA (10k-ish?).   This would still leave us around 60k .  Some will go into Premium Bonds.  Don't know about the rest.

Yes normally the best answer to this question ( which crops up regularly on the savings and investments forum board) is not to do just one thing with a windfall/sudden arrival of a large sum. So you are probably on the right track.
For the rest I suggest you carefully read through the whole thread again, as there have been some useful pointers.

penners324

If you don't trust the global economy, why do you trust banks to look after that money paying 3% interest?

If the global economy goes to pot then so will those banks