compo

jongee_2

Due to an accident i am due about £200.000 in compensation and not sure what do do with such a large ammount. I dont want to invest it as what as just happened with the stockmarket i am 55yrs old and it is doubhtfull that i will work again. I dont have a mortgage so no worrys there would wellcome some advice.

jongee

debbie42

See an IFA. Note: NOT a bank/tied FA, but an independent, investment IFA.

Do a search on this forum for "IFA" and you should find some useful discussions.

graham47

Jonjee.
Absolutely.... you must get the best INDEPENDENT Financial advice you can.
When I took early retirement I put my lump (not quite 200K !) in as high an interest account (easy access) as I could find at that time. This gave me time to look for & get the best advice I could and to assess the best option for me.
Don't feel you have to rush anything. I think I took about a year to do this. Your timescale may be shorter but a least you would get some extra income from the interest.

dunstonh

Problem here is that IFAs are investment advisers. jongee has said he doesnt want to invest. However, it appears his knowledge is limited because of course investing doesnt mean you have to have stockmarket (although a small bit is a good thing over the long term and stockmarket comes in different risks and buying some now whilst its a lot cheaper may be a good thing long term).