50k to invest or save

d87heaven

A little background which may help

Im mid 30's no pension.
10k in isa's and savings
Living in a rent/mortgage free house.
About to recieve approx 50k from a house sale.

I am at a loss as to what to do with the money.
Short term I want to put it somewhere so I won't spend it.
Long term???? Thought about buying a house to let out (Iwould need to borrow another 60k) but not really sure what to do. Any ideas or guidance welcome.
Thanks.

dunstonh

Thought about buying a house to let out

Ok, so that suggests you are a high risk investor who is happy to accept fairly significant short term losses in the pursuit of long term gain.

What is your knowledge of geared investing? Can you find a property with a yield over 6% net and low priced?

What are your short term, medium term and long term plans? what other money do you have, what is your tax position ......

d87heaven

You are going to tell me I need to seek an IFA aren't you?
I don't want high risk.
My knowledge is none on geared investing.
My thoughts where that as prices are said to be dropping to buy somehwere. As I don't have a mortgage I could treat it as my mortgaged property if the worst was to happen and I couldn't get tenants. ie I can afford to pay the mortgage/rent myself in worst case. I would also not fall off the property ladder if /when prices go up.
Short term.......keep the money for a while to see what happens to the economy
Medium....... have my money working for me so I don't spend it
Long term....... make a bit of money from it so it can help me fund retirement somewhere warm.