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Inheritance money, help!
Comments
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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 nothing3 -
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.Signature removed for peace of mind1
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......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.2
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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.0
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