What to do with £50.000

pandora205

You've deserve that holiday by the sounds of it!

Just another thought Jack - have you considered 'investing' in yourself? Training and qualifications can be investments for the future, and having some money would open up all sorts of possibilities. There is such a range of courses out there, vocational as well as academic, there may be something that might appeal.
I've always regarded my hard years of study as a sort of investment (which they have proved to be)

[Deleted User]

I'd echo a lot of what has already been said.

1. Fill up your ISA allowance of £3600 for this year - Bradford & Bingley 1 Year Fixed Rate 6.25% AER looks good. No need to worry the rate might drop in a few months time.
http://www.bradford-bingley.co.uk/sa...ISA-issue4.asp

2. Put the rest into the best instant access savings account you can find while taking some time to decide what's best for you.

Kaupthing Edge 6.50% AER, at least 0.30% (gross) higher than BoE rate until 01/02/2012. You need to have a minimum of £1000 in the account though to get this rate.
http://www.kaupthingedge.co.uk/OurProducts/KaupthingEdgeSavingsAccount.aspx

3. You might want to investigate short term fixed rate bonds, for example:

Icesave 7.01% AER, 1 Year Bond, min £1,000 deposit - meaning the money is tied up for 1 year in this bond but you're guaranteed 7.01%AER.

http://www.icesave.co.uk/fixed-rate-savings.html

4. Finally you may like to investigate Index-linked Savings Certificates:

http://www.nsandi.com/products/ilsc/index.jsp

Other than the above I'd probably say look into finding an IFA, a quick search for IFA on this forum may prove useful...

Joey122

I agree with what has been said above - Be careful who you tell this too

Jack : Can you explain in one sentence the accident that caused this large payout please? Was it a car accident? What damage did you suffer?

JACKdaLAD

Well i was in a hit and run accident!

Riding along one night on a motorbike when a car drove straight at me.

The car hit me head on and i ended up on the side of the road. All i remember is some guy leaning over me saying *we gota leave him we gota leave him*. Then i heard a female voice say *we cant leave him he is in a bad way. Then the guy said *thats why we have to leave him* He looked though my pockets and they left.

I woke up in intencive care the following day after a 13 hour op. I disconnected my hip, Shatterd my knee, Broke my ankle and most my toes and fingers. My mum was told that it was likely ide die and to be prepared for the worse. I was in hospital for about a week and a half then i cuaght MRSA that was hell had to stay in for 2 more weeks in a lil room on my tod on a drip.

Once i was dischargerd from the hospital i went though my stuff to find my phone and wallet missing. The d**k what ran me over in the first place only stole them! Police beleave this was so it would be harder to identifie me!

Insurance claim has been going on since the accident in 2003.

I had one op what cost £26.000 alone and had around 4 ops since the accident.

chesky369

I think the police were wrong - I think he stole your wallet and 'phone to use them, not so you couldn't be identified - that could happen through your bike reg. I suppose I shouldn't even ask if they ever caught him?

Well, you've really been through the mill haven't you, so it's time you had some good luck. I'm sure everyone here wishes you well.

posh*spice

Jackdalad,

Be sure you don't get scamed - I don't mean by people on here - just in general! Put it somewhere safe - something low risk.

bigbloke45

Are you real?

JACKdaLAD

is who real? me?

*pokes hisself in the eye* Well that hurt so i must be real lol

Vectra

no body has mentioned safe limit of £35,000 in case of problems.
If I was you m8 I would ring up the bank or B/s where your money is and arrange to see one of the managers who will advise you free,naturally they will try to flog you their own products but they will not do you or try to nick your cash,put your cards on the table and any Bank or B/S will give you some good advice even do all the necessary,later when you have got time and know more you can take a better personal interest in your cash which will probably still be there if you haven't gone on a mad spending spree that is.

chesky369

I'm sorry Vectra, but that's just why Jack should go for INDEPENDENT advice. Any advice he would get from an individual bank or building society would be highly suspect - apart from anything else, the quality is not particularly wonderful. Additionally, he should rely on a professional rather than people like you or me who are full of goodwill but lack both the expertise and time to give him proper advice.