Monday's meanderings

[Watchthis]

Let's say you came into some money, maybe £100k. What would you do with it?

Pay off the mortgage? Put it in a savings account? Buy premium bonds? Buy a fancy car?

[soad]

Impossible to answer, as depends on the person’s situation.

[JakeT]

Mortgage. Then use the free money per month to buy a car if needed.

[Steve-B]

Unquestionably pay off our remaining balance on the mortgage.
Then after almost 40 years in technology, find something more interesting to do to earn money!

[anonymous-user]

£100k wouldn't even touch the sides of our mortgage

[Somewhatfoolish]

Eat it

[Simpo Two]

Buy a newer Aston and invest the rest. Or maybe buy a replacement boat.

[microgod]

There's a small part of my brain that thinks.... Just put it all on Red.

There are far more sensible things to do with it but nothing that even comes close to the rollercoaster of emotions as that ball is bouncing around.

Followed by the inevitable regret

[aspender]

Put it in the best Cash ISA/Cash savings/bond combination I can find to achieve a higher net rate of interest than we are paying on our mortgage (1.45%) then use it to reduce our renewal come 2025

[ferret50]

The answer is coke and hookers, now what was the question?

[Super Sonic]

ajap1979 said:

£100k wouldn't even touch the sides of our mortgage

Worst 'Ive got a big house' post ever!

[RizzoTheRat]

Depends on the mortgage, I'm getting more interest on a basic savings account that I'm paying on my mortgage at the moment.

Boring answer is pension as you'd get some tax back on it as well.

[oldaudi]

Well, that happened to me when I received my wife’s life insurance , it was a lot more. It’s currently sat across multiple cash accounts not to break the £85k ceiling, each in various bonds that mature at different time which will require me to complete my tax returns and I fill my isa up every year.

This isn’t a boast because I didn’t earn this and I’m currently living my life as if I still don’t have it.

The kids are sorted, I have no mortgage anyway, premium bonds are full and I genuinely don’t know what to do with it. My current house feels too big now that it’s population has been reduced by 25% I’m still earning well I got a pension pay out and I get monthly top ups from her ex employer in the form of pensions payments too.

We would’ve loved this extra cash when she was a live, now I feel that I don’t deserve it/ it’s her money so I don’t spend it. So, in answer to your question I think it really depends how you get it.

If I won £100k I would love to buy a brand new Porsche 911 of some sort if that was enough.

Edited by oldaudi on Monday 14th August 16:04

[JakeT]

Sorry to hear that, oldaudi. I’ve had similar through loss of family.

Probably a good plan to keep it safe for the kids to give them a leg up when needed be it housing or doing something that’s important to them.

[Edible Roadkill]

Prob do isa / pb combo as I’ve no mortgage & own a few cars, in essence it’ll be added to my early retirement pot.

[Countdown]

Watchthis said:

Let's say you came into some money, maybe £100k. What would you do with it?

Pay off the mortgage? Put it in a savings account? Buy premium bonds? Buy a fancy car?

£25k to each of the kids. Our mortgage is paid off, we have sufficient for a nice (but not PH) lifestyle. they will benefit from it far more than m and Mrs C

Changed my mind! I fancy one of . these

Edited by Countdown on Monday 14th August 16:21

[VTC]

oldaudi said:

Well, that happened to me when I received my wife’s life insurance , it was a lot more. It’s currently sat across multiple cash accounts not to break the £85k ceiling, each in various bonds that mature at different time which will require me to complete my tax returns and I fill my isa up every year.

This isn’t a boast because I didn’t earn this and I’m currently living my life as if I still don’t have it.

The kids are sorted, I have no mortgage anyway, premium bonds are full and I genuinely don’t know what to do with it. My current house feels too big now that it’s population has been reduced by 25% I’m still earning well I got a pension pay out and I get monthly top ups from her ex employer in the form of pensions payments too.

We would’ve loved this extra cash when she was a live, now I feel that I don’t deserve it/ it’s her money so I don’t spend it. So, in answer to your question I think it really depends how you get it.

If I won £100k I would love to buy a brand new Porsche 911 of some sort if that was enough.

Edited by oldaudi on Monday 14th August 16:04

Do not let yourself become consumed by sadness try each day to lift yourself from grief towards living the best life you can now you are alone,
your wife loved you your children love you as do other family/friends I presume, do the best by them to make the rest of your life worth living.

[Countdown]

VTC said:

oldaudi said:

Well, that happened to me when I received my wife’s life insurance , it was a lot more. It’s currently sat across multiple cash accounts not to break the £85k ceiling, each in various bonds that mature at different time which will require me to complete my tax returns and I fill my isa up every year.

This isn’t a boast because I didn’t earn this and I’m currently living my life as if I still don’t have it.

The kids are sorted, I have no mortgage anyway, premium bonds are full and I genuinely don’t know what to do with it. My current house feels too big now that it’s population has been reduced by 25% I’m still earning well I got a pension pay out and I get monthly top ups from her ex employer in the form of pensions payments too.

We would’ve loved this extra cash when she was a live, now I feel that I don’t deserve it/ it’s her money so I don’t spend it. So, in answer to your question I think it really depends how you get it.

If I won £100k I would love to buy a brand new Porsche 911 of some sort if that was enough.

Edited by oldaudi on Monday 14th August 16:04

Do not let yourself become consumed by sadness try each day to lift yourself from grief towards living the best life you can now you are alone,
your wife loved you your children love you as do other family/friends I presume, do the best by them to make the rest of your life worth living.

Very well said!

[G-wiz]

Never went down the mortgage route.

Bought 3 bed semi with cash.

Never even considered to supplement the deposit with a large mortgage and get a 5 bed detached.

[WelshPetrolhead]

I'd get a mortgage sorted for the rest, and offer to buy the house I'm renting off my landlord. I would probably set aside some cash for improvements, mainly changing single glazing for double, and replacing the archaic central heating.