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    • sixpence.
    • By sixpence. 9th Sep 19, 4:59 PM
    • 203Posts
    • 38Thanks
    Question re 700K investment
    • #1
    • 9th Sep 19, 4:59 PM
    Question re 700K investment 9th Sep 19 at 4:59 PM
    Hello Ė I need some guidance and would very much appreciate whatever anyone on here has to say. Iíll try to keep things clear and concise! Would love it people read this and gave their two cents.

    1. I am in the (very) fortunate and lucky position where I am about to be gifted 700 K. I am 30 years old. I already have a VLS (in my ISA) which I invest in for retirement. My mortgage is paid off.

    2. My goal is to set up a form of passive income. I know Iím young, but please donít suggest that I go for growth instead; a steady source of passive income is what Iím after. Not trying to sound shirty, just want to save time

    3. I donít think investing in property is a good idea (although it is what my older brother and sister have decided to do) bc of the economic uncertainty of well... everything. I think it is a good idea to invest in a diverse low risk fund income portfolio. My objective is to get 3-4% income (after charges). Basically Iím looking for the income equivalent of VLS, if there is such a thing!

    4. Iím with Hargreaves Lansdown. They are offering free consultations this month so Iím going to take one with them. Will obviously take it with a pinch of salt. I would also like to consult another IFA. Does anyone have any IFA recommendations? I figure if the stamp duty for a property is 3-4% then there is no harm in speaking to a couple of IFAs, who I think normally charge about 1%.

    5. I donít want to rush into anything. Iím basically treating this as its own job/project. Iím doing a level 4 online investing course (mostly because it was very cheap so I thought I might as well!). Iíve read a few books (like the Intelligent Investor, Rich Dad Poor Dad et cetera) but if anyone has anything else to recommend I would really appreciate it: books, websites, online courses, welcome.

    Thank you so much for reading this. Feel free to respond to anything here really.
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    • sixpence.
    • By sixpence. 23rd Sep 19, 12:17 PM
    • 203 Posts
    • 38 Thanks
    Yeah 7K is never going to stop being a lot of money to me tbh. The most I would invest in bitcoin is £100 because it's a total gamble, and that's how much I'm willing to lose!

    Also I really don't have the skills or interest to research high risk investments. For me this is really about setting up a long term, low to medium risk, form of passive income
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