Pondering on best way to invest

loftty_2

Hi all,
My Mum got left a hefty sum of money (somewhere in the region of £80000) about 3 yrs ago when my great aunt died:( . She was advised by her bank to put it into a savings account which she couldn't touch for 3 yrs or so, this she did. Thats up for renewal this yr and I was wondering if it was better for her to put it into property or something else that she might earn a better income from.
Let me know what u think and I'll try and advise her on the best option.
Thanx;)

Lokolo

Definately want to invest? There is risks involved when investing.

You can either create your own investment portfolio or get someone else to do it for you (funds).

Housing is not wise at the moment with the credit crisis, house prices are likely to fall etc.

However, with £80k it maybe wise to go and see an IFA if you defiantely want to make investments rather than just save.

Liz_the_Whizz

hi loftty,

Hope she got a good rate on that 3 year fix, it may not have been the best advice given how much higher interest rates have been lately.

With £80k, it would be sensible for your Mum to see an independent finanicial advisor (ie NOT a bank).

They can look at your Mum's whole situation and take account of what she wants to do with the money.

We found our IFA at:

http://www.unbiased.co.uk/

loftty_2

Thanx Lokolo!
I just wanted some advise so I can go to my - stuborn!- mum and tell her what other methods are available. She is very stuck in her ways, whatever the bank says really she goes with without shopping around for a better deal. I'm trying to introduce her slowly to this amazing website-which has helped me so much, but she will continue to resist!

dunstonh

Thats up for renewal this yr and I was wondering if it was better for her to put it into property

80k wont buy much on the property front so that would mean borrowing money which turns it into a high risk transaction which also may have tax implications. Plus with rental yields low and property going down in value (generally) that really wouldnt be a good idea.

I just wanted some advise so I can go to my - stuborn!- mum and tell her what other methods are available.

With investments, probably around 30,000 options available. With her bank, probably around 10-15.

Meltdown_2

loftty wrote: »

Thanx Lokolo!
I just wanted some advise so I can go to my - stuborn!- mum and tell her what other methods are available. She is very stuck in her ways, whatever the bank says really she goes with without shopping around for a better deal. I'm trying to introduce her slowly to this amazing website-which has helped me so much, but she will continue to resist!

Perhaps not very kind to call your mother 'stubborn' ...
'Resolute' sounds much better.

This is by no means the only forum on the MSE website. Introduce your mother to ones she has an interest in. You might find that she then (eventually) has a peek at some of the other forums/fora.
Softly, softly, ...