£140k in savings

Goldy_locks

I have £140k in savings. What should I do with it?

eskbanker

Starting point would be to consider when you're likely to need access to it, but the more information you can provide about your financial circumstances and plans, the better quality the suggestions will be....

sammyjammy

Give it to me!

You'll need to provide a bit more info about your circumstances, do you own a home? How old are you?  What are your pensions provisions? Single? Kids?

Sam_666

Give it all to charity.
Or post more specific personal details for better advice.

Goldy_locks

Aged 60, recently divorced, still living together! Unsure if going to sell the house!? Not an ideal situation for me as I want to have my own property but he is happy to stay as we are. In a real predicament  to say the least! Resigned from my job last November and currently unemployed. Have 2 children 19 and 36. I also have 58k in pensions.
Was considering whether to invest in some gold!?

eskbanker

Goldy_locks said:

Aged 60, recently divorced, still living together! Unsure if going to sell the house!? Not an ideal situation for me as I want to have my own property but he is happy to stay as we are. In a real predicament  to say the least! Resigned from my job last November and currently unemployed. Have 2 children 19 and 36. I also have 58k in pensions.
Was considering whether to invest in some gold!?

Sounds like a lot going on but probably best to keep things flexible in easy access products for now until living and work plans crystallise?

ColdIron

Avoid gold right now for a variety of reasons. £58k in pensions at 60 is not a lot, even when not earning you can contribute £2,800/£3,600 to a pension

xylophone

Have you and your ex spouse checked your state pension forecasts?

https://www.gov.uk/check-state-pension

If you want a home of your own, why are you not selling the marital property and using your savings towards your purchase?

Goldy_locks

That's what I want to do but concerned that if I don't get a job! How long will the rest of my savings last.

jimjames

Goldy_locks said:

That's what I want to do but concerned that if I don't get a job! How long will the rest of my savings last.

Depends how much you spend! But how can you spend gold, not many shops accept payment in nuggets

Beddie

I think the best thing for you is to get the house sold. It will have to be sold eventually and it's stopping you from moving on with your life.
In the meantime, keep your savings in easy access accounts. Here's a list of the best rates:

https://moneyfactscompare.co.uk/savings-accounts/easy-access-savings-accounts/?quick-links-first=false&product-favorites-first=false&sort-order=AER&sort-order-text=Rate