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Inheritance money, help!

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Comments

  • RAS
    RAS Posts: 36,192 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    Do check that your state pension contributions are up to date

    Then look at housing. There'll be a lot of advice in the MSE house buying and renting section on places relatively close to London that could be affordable and close to a rail line into London.

    Spend a few winter weekends in mid-priced hotels to get a feel for the places. Or stay with friends or relatives? You're not just looking for a house, but a community.

    You might also want to consider returning to work part-time in your new location, if only for the pension possibilities and the chance to make new friends. Or volunteer?
    If you've have not made a mistake, you've made nothing
  • Savvy_Sue
    Savvy_Sue Posts: 47,527 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    It sounds as if it would be worth talking to your sons. You may find they have ideas or suggestions - and at least you'll find out if they are keen to fly the nest (which you might be able to facilitate, but don't feel you HAVE to), or happy to support you in the next move - or what they'd want if they were coming on a 'next move' with you. 
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  • Heedtheadvice
    Heedtheadvice Posts: 2,821 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    ......and nobody has said make sure you now have an (up to date) will and Power of Attorney set up.  These things cost a bit but could be well worth considering owing to a change in circumstances.
  • Vitor
    Vitor Posts: 995 Forumite
    500 Posts First Anniversary Photogenic Name Dropper
    edited 15 October at 5:56PM
    An IFA will give you a forecast of how far the inheritance plus any others savings and pension will last, modelled on various lifespans usually up to 100. This will help you understand the implications of buying a property, what sort of lifestyle you want/can sustain etc. You don't want to pay them to manage your money long term

    I would get a full health check from BUPA now, you want to live to enjoy the inheritance. Also make/update your will to reflect the additional assets you now have. 
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