Recommendations where to invest some of my inheritance

AndyD_OHD

Hi all. I have recently inherited a sum of money after my Mum passed away. I really don't want to leave it sitting in a standard bank account where it will not do anything so I wondered whether anyone had any advice on where to place the money, or parts of it, to gain the best interest or investment return? Thanks in advance.

eskbanker

In order to get meaningful guidance you'd need to clarify more detail about how much money, when you'd be likely to need access to it, and the rest of your financial circumstances, but you might consider this as a starting point:

The Flowchart - UKPersonalFinance Wiki

Robin9

@AndyD_OHD    And some info re yourself -  your pension - mortgage - debt - family .............

Eco_Miser

As a start open one (or more) of the accounts mentioned in https://forums.moneysavingexpert.com/discussion/6392978/top-easy-access-acs-ranked-top-of-the-pots-no-chat/p1 and get over 4.25% pa while you decide on a plan of action (easy access for planned and emergency spending, fixed rate for next year's spending, cycle through regular savers for 6%+ pa on fairly small amounts, invest in index funds for money you don't want for at least 10 years). There will be lots of suggestions coming along.  

LongoBongo

Whilst you're deciding what to do, open and shove it in a Chase savings account. It took me about 15mins to set it up. Interest paid monthly at 4.5%. "Regular savers" accounts look attractive but are prety pointless if you've got a big lump sum.

Then seek professional investment advice.

eskbanker

LongoBongo said:

Then seek professional investment advice.

OP didn't specify the amount involved, so we don't know if it's in the order of tens, hundreds, thousands, tens of thousands, hundreds of thousands, etc, and only some of these would warrant paying for professional advice.