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Should I invest in pension or buy house out right or invest the money (£300K)?
cypher6x
Posts: 4 Newbie
Hi
I have been fortunate enough to have the option of receiving an inheritance of about £300K early. I am not sure what to do with it.
Is it better to spend all the money on a house or would id be better to invest the money elsewhere like a pension say or funds?
I can afford to buy a house and make the monthly payments so it is really a question of what is the best way to manage the money. Could I in theory invest the money in a fund and pay of the mortgage quickly and thus still have some of the inheritance left over? Is it better to throw it all into a pension as I don't have a pension at the moment?
I don't really have any other savings or debts at the moment and I am renting a house.
Your help would be much appreciated.
Eric
I have been fortunate enough to have the option of receiving an inheritance of about £300K early. I am not sure what to do with it.
Is it better to spend all the money on a house or would id be better to invest the money elsewhere like a pension say or funds?
I can afford to buy a house and make the monthly payments so it is really a question of what is the best way to manage the money. Could I in theory invest the money in a fund and pay of the mortgage quickly and thus still have some of the inheritance left over? Is it better to throw it all into a pension as I don't have a pension at the moment?
I don't really have any other savings or debts at the moment and I am renting a house.
Your help would be much appreciated.
Eric
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