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Investing £150K - pay off a chunk of mortgage, invest in ISAs & stocks or a bit of both
Comments
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If your child is likely to want to go to uni, you might want to keep some aside to fund their living costs. If the student finance system remains the same, they will likely only get the minimum maintenance loan and need approx £6500 per year (at today's figures) as a parental contribution. Student loans are not keeping pace with increased living costs so the amount that you would want to give for your child to be comfortable is likely even more. A lot of degree courses are now 4yrs with an integrated masters.MFW since March 2019Mortgage-free 30th June 2023
My Budget and Savings Diary https://forums.moneysavingexpert.com/discussion/6543308/making-a-budget-and-sticking-to-it#latest0 -
Depending on your age, the mortgage rate and term left.
If the mortgage rate is really low and few years to go then investing in stocks/funds etc.
What I do is pay into pension, some in the Vanguard funds and some in instant access account paying around 5%.0
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