What to do with £100,000????

MigsyBigsy

Hello All,

I have recently sold my house for £100,000 and now thinking about either investing or saving.

If I do save where would be the best place to do this? and is it worth placing the whole amount or some in other accounts?

Is it also worth getting advice from an IFA?

thank you in advance for your replies...

isofa

It depends on a whole host of factors, including attitude to risk, and whether you'll need the cash again soon.

Personally if you are likely to need the cash or a chunk of it for a house in the next 1-3 years I'd stick to high interest accounts and fixed rate savings account ("bonds"). But splitting it into 2 or 3 pots in different accounts.

Else you could split it 50:50, seek IFA advice and invest 50%, then put the other 50% (or split it up) into high-interest/instant accounts accounts.

Jonbvn

There are no easy answers to this question. You need to ask & answer yourself some further questions:

1. What term do you want to save/invest for? If above 5 years you should be looking at S&S.

2. What is your tax-situation?

3. Can you split the money with your OH for tax purposes?

4. What is your attitude to risk? What would you feel if it lost 20% in less than a year?

5. Do you want income or capital gain?

etc. etc.