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  • FIRST POST
    • Rosslawrence
    • By Rosslawrence 17th Apr 18, 8:59 AM
    • 1Posts
    • 1Thanks
    Rosslawrence
    What to do with inheritance
    • #1
    • 17th Apr 18, 8:59 AM
    What to do with inheritance 17th Apr 18 at 8:59 AM
    Hi all!
    I recently received ~50k as inheritance from my later mother. I am a 20 year old student, so would like to keep ~5k as back up spare accessible money for when I graduate, but apart from that my finances are quite secure.

    I have started a LISA, and a Natwest FlexDirect (5% AER on 2.5k for first year), but I am not sure as to the best way to save the rest of it!
    Any advice would be much appreciated!!!
Page 1
    • Linton
    • By Linton 17th Apr 18, 9:39 AM
    • 9,747 Posts
    • 9,996 Thanks
    Linton
    • #2
    • 17th Apr 18, 9:39 AM
    • #2
    • 17th Apr 18, 9:39 AM
    I suggest you dont do anything long term with the money until you have graduated and started your first job when your financial and life circumstances will be clearer. So perhaps a 2 or 3 year fixed rate deposit account may be worth considering.
    • Alexland
    • By Alexland 17th Apr 18, 10:15 AM
    • 3,129 Posts
    • 2,465 Thanks
    Alexland
    • #3
    • 17th Apr 18, 10:15 AM
    • #3
    • 17th Apr 18, 10:15 AM
    I have started a LISA, and a Natwest FlexDirect (5% AER on 2.5k for first year), but I am not sure as to the best way to save the rest of it!
    Originally posted by Rosslawrence
    Even with the LISA bonus opportunity be careful as your future employment may cause you to move into an area where the 450k property price limit would become a problem. Although this sounds a lot of money it is unclear if the government will make any adjustments for inflation in future (they didn't with the HTB ISA).

    I assume your Natwest is a typo and you mean Nationwide? Nationwide also offer a 12 month regular saver where you can deposit 250 per month at 5%.

    Alex.
    Last edited by Alexland; 17-04-2018 at 10:20 AM.
    • kidmugsy
    • By kidmugsy 17th Apr 18, 5:06 PM
    • 11,600 Posts
    • 8,125 Thanks
    kidmugsy
    • #4
    • 17th Apr 18, 5:06 PM
    • #4
    • 17th Apr 18, 5:06 PM
    I'm a fan of local building societies. For instance, if you live in East Anglia look at the Saffron, the Ipswich, the Cambridge, and the recently-arrived Nottingham.

    Some of the never-'eard-of-'em banks offer good interest rates: in your shoes I'd do a bit of investigating before I trusted much of my money to them.

    Don't let anyone persuade you to open a pension yet: that can await your first job, when your employer will also contribute to it.
    Free the dunston one next time too.
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