100k what to do with it
Discussion
petemurphy said:
well almost..
i have 85-90k which is just sat in lloyds account at the mo.
whats the best thing to do with it in your opinion ( bar a 911 )
70k is mine and 15k is technically for my daughter although its sat in the same account at the mo.
we have no debt or mortgage. whilst we have no immediate plans to move we are constantly looking at houses and if the right one came up would want to buy it so the money cant be tied up for too long.
i'm rubbish with money so needs to be easy as does sorting out any tax etc incurred.
are financial advisors worth seeing or do they just sell you commission based stuff?
nothing too risky as it was inheritance so dont want it to disappear on bitcoin.
any advice appreciated thanks
It depends how old you are and what income you already havei have 85-90k which is just sat in lloyds account at the mo.
whats the best thing to do with it in your opinion ( bar a 911 )
70k is mine and 15k is technically for my daughter although its sat in the same account at the mo.
we have no debt or mortgage. whilst we have no immediate plans to move we are constantly looking at houses and if the right one came up would want to buy it so the money cant be tied up for too long.
i'm rubbish with money so needs to be easy as does sorting out any tax etc incurred.
are financial advisors worth seeing or do they just sell you commission based stuff?
nothing too risky as it was inheritance so dont want it to disappear on bitcoin.
any advice appreciated thanks
mackay45 said:
That plan looks pretty sensible to me.
On the tax return point, you won't need to do one as confirmed here:
https://www.gov.uk/apply-tax-free-interest-on-savi...
Read that link again carefully...tax will be due depending on your circumstances and how much interest you earn over the tax year.On the tax return point, you won't need to do one as confirmed here:
https://www.gov.uk/apply-tax-free-interest-on-savi...
(Unless all the interest earned is from ISA/Premium Bonds)
petemurphy said:
well almost..
i have 85-90k which is just sat in lloyds account at the mo.
whats the best thing to do with it in your opinion ( bar a 911 )
70k is mine and 15k is technically for my daughter although its sat in the same account at the mo.
we have no debt or mortgage. whilst we have no immediate plans to move we are constantly looking at houses and if the right one came up would want to buy it so the money cant be tied up for too long.
i'm rubbish with money so needs to be easy as does sorting out any tax etc incurred.
are financial advisors worth seeing or do they just sell you commission based stuff?
nothing too risky as it was inheritance so dont want it to disappear on bitcoin.
any advice appreciated thanks
I wish I was this rubbish with money i have 85-90k which is just sat in lloyds account at the mo.
whats the best thing to do with it in your opinion ( bar a 911 )
70k is mine and 15k is technically for my daughter although its sat in the same account at the mo.
we have no debt or mortgage. whilst we have no immediate plans to move we are constantly looking at houses and if the right one came up would want to buy it so the money cant be tied up for too long.
i'm rubbish with money so needs to be easy as does sorting out any tax etc incurred.
are financial advisors worth seeing or do they just sell you commission based stuff?
nothing too risky as it was inheritance so dont want it to disappear on bitcoin.
any advice appreciated thanks
petemurphy said:
the money cant be tied up for too long.
...
nothing too risky as it was inheritance so dont want it to disappear on bitcoin.
If you're likely to want a significant proportion of this back in the next five years I would "play it safe" and stick it in a mixture of Premium Bonds and a Marcus account....
nothing too risky as it was inheritance so dont want it to disappear on bitcoin.
You might get slightly more by dividing it up between various accounts, but to me it doesn't seem worth the faff for the extra interest.
This is an "interesting" time to be investing in the stock market, but if you're confident you won't need the money for at least five years it might be worth considering investing some in the stock market. Drip feeding some into a Vanguard tracker will smooth out some of the volatility, But this would be strictly for the longer term...
AndrewEH1 said:
Read that link again carefully...tax will be due depending on your circumstances and how much interest you earn over the tax year.
(Unless all the interest earned is from ISA/Premium Bonds)
The question wasn't whether tax would be due, it was whether OP would need to do a tax return via self-assessment or not.(Unless all the interest earned is from ISA/Premium Bonds)
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