Saving help

Ericernie2

I am very lucky to have inherited over £100000, can anyone advise what to do with it, banks building societies are really not helpful and I'm just not sure what to do! I have tried advisor's but all want a big fee to even book appointment! 

p00hsticks

Much more info is required in order to give any meaningful views....

How old are you ?
What are your thoughts on how you want to use the money (e.g. do you want to buy somewhere to live, invest for retirement etc) ? 
Do you have enough income to live off at the moment (through work or elsewhere) or would you like to use your inheritance to supplement your current income ?
How soon do you think you might need access to the money ?
What is your current pension provision like ?
Are you single or do you have souse / children that come into the equation ?

wmb194

Ericernie2 said:

I am very lucky to have inherited over £100000, can anyone advise what to do with it, banks building societies are really not helpful and I'm just not sure what to do! I have tried advisor's but all want a big fee to even book appointment! 

Whilst you’re deciding you could look at easy access savings accounts.

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

eskbanker

Ericernie2 said:

I am very lucky to have inherited over £100000, can anyone advise what to do with it, banks building societies are really not helpful and I'm just not sure what to do! I have tried advisor's but all want a big fee to even book appointment! 

The Flowchart - UKPersonalFinance Wiki offers a structured approach to deciding what to do with your money....

Albermarle

Normally financial advisors do not charge for your first exploratory meeting.
However they are only interested in advising you on investments, not cash savings.

penners324

As an immediate start get the money earning interest.

There are savings accounts that can be opened straight away. Marcus for example.

Then think about what you want with that money as stated by posters above.

Even if it takes a month to decide what to do, you'd get about £350 in interest in the month

Eyeful

Need more information before giving any useful suggestions.
Questions
How old are you?
What time frame, 5 years, 10 years, or longer? 
Are you thinking of savings accounts (Bank, Building Society accounts, NS&I)?
Are you thinking of investments (stocks & shares)?
Attitude to risk?
Do you have a Pension or ISA?

1. For savings look at:
https://moneyfactscompare.co.uk/savings-accounts/
https://www.thisismoney.co.uk/money/article-1583859/Best-savings-rates-General-savings-Internet-branch.html
FSCS SAVINGS CHECKER: https://www.fscs.org.uk/check/check-your-money-is-protected/

2. Before Investing watch:
https://www.kroijer.com/
Example: https://www.vanguardinvestor.co.uk/investing-explained/what-are-lifestrategy-funds?intcmpgn=lifestrategyfunds_learnmore_link

Sam_666

I think everyone has their crystal balls out for polishing. Including mine.

Beddie

Initially, get it somewhere earning good interest. Don't tie it up for years just yet.

£20k in a cash ISA if you've not already used some or all of your allowance. Perhaps £50k in premium bonds - you should "win" most months and it's tax free. The remainder in an easy access savings account.

The top payers are more obscure than high st banks, but they are safe, as they have FSCS protection up to £85k. But don't feel you have to take the very highest rate, be comfortable with who you choose.

Have a look at the moneyfacts links others have posted for the rates currently available.

You can think about pensions, investments etc. too, but take your time to make the right decisions.