I have more money than I know what to do with. What would you suggest?

trickydicky14

francoghezzi said:

Stop for a second, watch a cloud in the sky and listen to yourself breathing. You have been missing on the true meaning of life

Breathe, breathe in the air
Don't be afraid to care
Leave, but don't leave me
Look around and choose your own ground
For long you live and high you fly
And smiles you'll give and tears you'll cry
And all you touch and all you see
Is all your life will ever be

jaypers

You’re 27 and it sounds like you’ve got a good financial head on your shoulders. You need to enjoy yourself. Find a way of doing something that you live, but keep sensible financial ground rules in place……..don’t pay out unnecessary debt interest, keep an emergency fund, don’t spend beyond your means etc. Whether it’s cars, travel, women, men or anything else, just do it. You only live once. 

LHW99

Enjoy Paris - or wherever. But maybe add a bit to your pension payments as well (sometimes encourages your employer to put a bit more in too).

Its the money you put in there now that will be of most "value" at retirement age (compounding!!) and with medical advances moving forward all the time, your condition may not be particularly life shortening in the end. It also means you would have more in the pot if you decide you really have to give up work in your 50's, rather than waiting.

A DC pot is also inheritable, in case you decide to marry / enter a civil partnership in the future.

london21

I also invested my student loan but this was because i was working part time and my fees were 3k per year.

Life is a balance.

I live a normal life whilsy at uni was not worrying about finance and been frugal. 

My student loan got paid off from my income did not stress myself but when i did get a high bonus higher amounts were deducted.

My tips would be upskill and try to get a higher paying role. 

Do enjoy your life and money. 

Ciprico

trickydicky14 said:

francoghezzi said:

Stop for a second, watch a cloud in the sky and listen to yourself breathing. You have been missing on the true meaning of life

Breathe, breathe in the air
Don't be afraid to care
Leave, but don't leave me
Look around and choose your own ground
For long you live and high you fly
And smiles you'll give and tears you'll cry
And all you touch and all you see
Is all your life will ever be

Money, it's a gas....

Kendall80

Buy a 1000cc motorbike and ride it really really fast! - or get a smaller one and ride around the world!

housebuyer143

This is how my husband and I got out first house, from saving up the maintenance loan. It was a good call and set us up to buy at 21. 

Then, I think I turned into what you have for a long while with problems spending my money. I would overthink every single spend to the point that I wouldn't buy or do anything and then if I did buy something chances would be I would return it. All at the same time saving more and more money. We actually paid the house off 9 years later and saved more and more money than we needed. 

At some point I just felt secure enough and then would start increasing my spending on other things, like holidays, hobbies etc and eventually it's not something I agonize over now (don't get me wrong I still not going to the cinema and buying the food there, I don't like to pay too much over the worth of something🤣).Maybe set aside a specific amount of money for the purpose of spending it on something you really want and then do it. 

You need to definitely find a balance because you can't take the money when you die and you only live once. It is sometimes easier said than done though to break out the saving mindset.

boingy

Regardless of your health, put some in your pension.
Then allocate yourself a couple of thousand as frittering money and make yourself fritter it away. If you struggle with this aspect of the plan then send it to me and I'll fritter it on your behalf.

BTW, don't go to Paris, or any other "top tourist destination". Those places are always a disappointment (other opinions are available).

Cus

"What am I missing? What could/should I think about?"

Financials sorted, move on to living 

enthusiasticsaver

It sounds like you are doing ok but I would set aside some spare money for travel/experiences if that is what you would like to do and open a stocks and shares ISA to give you the option to retire early if you have a health issue and overpay the mortgage. At your age we found ourselves in a similar position and split our spare money three ways.  A third for long term finances like mortgage and pension overpayments, a third for medium term like a new car or kitchen or long haul holiday and a third for short term saving to spend on things like a holiday/ weekends away or meals out etc etc.