Best ‘safe’ way to invest £90k?

[James6112]

greengreenwood7 said:

C69 said:

I would consider setting up a small SIPP for your wife if she's under 75 (not sure if the "@55" refers to her age now).

Under current rules, non-taxpayers can pay in up to £2,880 per tax year and get 20% tax relief (even though no income tax has been paid). Consequently, the government automatically tops up the contribution by £720, giving a gross annual total of £3,600.

Obviously you'd need to think about the underlying investments in the SIPP, to ensure that they fit your risk appetite.

exactly what i was going to write :-)
worth adding before the 5th and then again soon as funds clear after the 6th, and can keep topping that up annually....

all have different tolerances for risk, but could decide to be aggressive with that portion as it clearly would make up a v.small proportion of existing wifes pension....

Nice one, thanks
She’s 60, does have a couple of other pensions to come, not drawing them yet.

[G Thang]

Is buy to let a total non-starter these days?
Rents are pretty high at the moment.

Or an apartment in Spain, use it for holidays and hope its value goes up at the rate of inflation?

[DonkeyApple]

Why not just use it to claim back all your higher rate income tax? Calculate how much net you need to pay into the pension to end up back at £90k and then spend/trade/do what you want with the difference as it's all but free money?

[FriedMarsBar]

if it were me I'd jump through hops to get your's and your wife's ISA allowance used for 23/24 and then do the same 24/25.
I'd then consider pension for your wife or premium bonds till you 25/26 when I'd move money into another ISA

[DonkeyApple]

Out of interest, what's the benefit of buying an ISA wrapper?

[Milnsey]

85k in fixed rate bond in wife's name. No need for ISA as non tax payer

[James6112]

A property in Spain, nice, but a hassle can do without!
Bitcoin, already into that for a bit of fun.
Reduce my Higher Rate Tax, already putting in as much as allowed really into pension to minimise tax.

SIP/Premium Bonds/etc sound straightforward enough

We both have HL accounts, so can easily set up some SIPs there.

[bitchstewie]

DonkeyApple said:

Out of interest, what's the benefit of buying an ISA wrapper?

Why wouldn't you use the wrapper?

Surely there's no downside unless I've misunderstood what you're asking

[DonkeyApple]

James6112 said:

A property in Spain, nice, but a hassle can do without!
Bitcoin, already into that for a bit of fun.
Reduce my Higher Rate Tax, already putting in as much as allowed really into pension to minimise tax.

SIP/Premium Bonds/etc sound straightforward enough

We both have HL accounts, so can easily set up some SIPs there.

As the higher rate tax payer you'll get the greatest amount of tax back. And you don't have to whack it in as one shot but can spread it out while leaving the bulk in a sensible savings account etc.