Inheritance money

lozza19_2

I have inherited money from my parents but it's not doing anything at the moment and I worry about this. 
I am hoping to move at some point in the future but haven't as yet.
I don't what to do in that should I gift to my family now  as I have no children of my own?
Make charitable donations?The amount of money makes me feel so guilty especially as my late parents worked extremely hard throughout their lives and I feel that I am not honouring this even though I now have the luxury of not worrying about money I'm worrying about money!
Thank you for taking the time to read this 😊

Bigphil1474

Just make sure it is working as hard as it can for you - maximise interest rates and any ISA allowance. Depends how much you're talking about, but you should generally not have more than £85k with any one institute as only £85k is protected by the FSCS. I'm sure I'd heard this was going up to £100k, but not definite.

Personally, I wouldn't be looking to give it away until I'd moved, but after that, up to you. I'm sure your family would love a gift, and there are plenty of charities waiting for donations. My preference would be a local charity that does something you are interested in rather than the big national ones. 

Albermarle

This is a question more suited to this forum, as it is not really about House Buying.
Savings & investments — MoneySavingExpert Forum

but it's not doing anything at the moment

If you do repost then would be worth clarifying where the money is actually being held at the moment. Plus what about your financial situation before receiving the inheritance? Mortgage? Pension provision etc

FreeBear

Bigphil1474 said: Just make sure it is working as hard as it can for you - maximise interest rates and any ISA allowance.

Have a chat with an independent financial advisor to make sure the money is working as hard as it could. You may get advice to put some of it into your pension and then spread the remainder across different types of investments.