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Investing my Inheritance Money
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STMeister97
Posts: 3 Newbie

So I've been fortunate to inherit £160k from my grandparents, the money is currently in an interest savings account. I have a 37 year mortgage at 4.59%, and money being paid into a workplace pension scheme by my employer and also a private pension.
With the money i obviously want invest to invest in other such as stocks and shares, funds for long term gain. I have used trading apps such as Trading 212 but this was only for short term gain. Can anyone recommend any good platforms or any ideas of what to do with the money, maybe invest in property even? Many thanks
With the money i obviously want invest to invest in other such as stocks and shares, funds for long term gain. I have used trading apps such as Trading 212 but this was only for short term gain. Can anyone recommend any good platforms or any ideas of what to do with the money, maybe invest in property even? Many thanks
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Comments
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Any ideas here?
https://forums.moneysavingexpert.com/discussion/6617891/how-should-i-invest-my-inheritance-money
or here
https://forums.moneysavingexpert.com/discussion/6617162/inheritance
There seems to have been a lot of inheritances recentlyRemember the saying: if it looks too good to be true it almost certainly is.2 -
You should first think about what your plans are for using the money.
To retire early?
To buy a bigger house?
To reduce your mortgage ( a lot of people would see this as important to get a debt off their shoulders)?
To have a lot of exotic holidays?
Buy a Ferrari ?
When you have an idea about what you want the money for, then it usually becomes clearer how to deploy it in the shorter term .1 -
Why is Trading212 for short term investment only? Is it the name?1
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How much do you owe on the mortgage? When does the fixed term end?0
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@Hoenir £127k I think, we’ve just renewed on a 2 year fixed term.0
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@DRS1 It’s not specifically for that, I just mean that I’ve only used it for short term gains0
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STMeister97 said:@DRS1 It’s not specifically for that, I just mean that I’ve only used it for short term gains0
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STMeister97 said:@DRS1 It’s not specifically for that, I just mean that I’ve only used it for short term gains0
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Pay off all high interest debt.
Put 6 months spending in the bank for emergencies.
Pay off the mortgage.
Put anything left in your workplace pension in low cost multi-asset or index tracker funds along with what you would have paid towards your mortgage. If there is anything left over put it in a S&S ISA.
Don't trade for "short term gain", it's easy to make a long term loss. So I would delete all trading apps from your phone.
And so we beat on, boats against the current, borne back ceaselessly into the past.2
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