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Inheritence
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looby27
Posts: 18 Forumite

Hi
Advice please, I am 53 yrs old, single. I am a beneficiary of an inheritance of approx. £100,000. Is it possible to save this and live off the interest monthly. ( i had been finished employment on ill health last year). I am not employed, I need advice as to what to do with the £100,000. Thank you
Advice please, I am 53 yrs old, single. I am a beneficiary of an inheritance of approx. £100,000. Is it possible to save this and live off the interest monthly. ( i had been finished employment on ill health last year). I am not employed, I need advice as to what to do with the £100,000. Thank you
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Comments
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Retire on £100K not really.
Just think that £100 will give you about £5000 a year - can you live on £100 a week ?
What other savings . income do you have ? Any pension provisions?Never pay on an estimated bill. Always read and understand your bill1 -
looby27 said:Hi
Advice please, I am 53 yrs old, single. I am a beneficiary of an inheritance of approx. £100,000. Is it possible to save this and live off the interest monthly. ( i had been finished employment on ill health last year). I am not employed, I need advice as to what to do with the £100,000. Thank you0 -
What income do you currently have? If any of it is means tested benefits your inheritance is going to reduce this.1
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Do you get ESA or Universal credit, Council tax benefit etc. All will be hit with the inheritance.Pip will not be.0
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I get new style ESA & UC0
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looby27 said:I get new style ESA & UC0
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https://www.gov.uk/guidance/new-style-employment-and-support-allowance
Have you advised DWP of your inheritance?
https://moneyfactscompare.co.uk/savings-accounts/monthly-interest-accounts/
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I have not as yet received a date.0
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p00hsticks said:looby27 said:I get new style ESA & UC0
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Do you have a pension? Do you own where you live?0
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