What would you do with £10k right now?
Discussion
Hi all, as the title suggests I’ve somehow ended up with around £10k of genuinely spare cash that’s currently just lounging around in the bank doing sweet FA.
To give a bit of perspective, I’ve got no debt and own my home outright, so this really is play money rather than “oh god I need this for bills” money. I’d love to put it to work properly rather than watch it get nibbled by inflation. I’m after your collective wisdom – sensible, boring, or mildly adventurous all welcome!
A few directions I’ve been thinking about:
• Proper investing: Funds, stocks, ETFs (S&P 500 trackers, global stuff, UK-focused, etc.)
• Income ideas: maybe half sensibly invested, half for a fun side hustle or hobby that might even make a few quid back
• Or whatever clever/creative things you lot have actually done with similar money
What would you do with £10k right now?
Equally keen to hear the horror stories so I can avoid the classic rookie mistakes!
Be gentle with me… or don’t – flame away if I’m missing something obvious.
Thanks in advance!
To give a bit of perspective, I’ve got no debt and own my home outright, so this really is play money rather than “oh god I need this for bills” money. I’d love to put it to work properly rather than watch it get nibbled by inflation. I’m after your collective wisdom – sensible, boring, or mildly adventurous all welcome!
A few directions I’ve been thinking about:
• Proper investing: Funds, stocks, ETFs (S&P 500 trackers, global stuff, UK-focused, etc.)
• Income ideas: maybe half sensibly invested, half for a fun side hustle or hobby that might even make a few quid back
• Or whatever clever/creative things you lot have actually done with similar money
What would you do with £10k right now?
Equally keen to hear the horror stories so I can avoid the classic rookie mistakes!
Be gentle with me… or don’t – flame away if I’m missing something obvious.
Thanks in advance!
It depends how long you want to tie up the money for, but I would put 8,000 in premium bonds and put 1,000 in Vanguard 100/80/60 fund (depending on your appetite for risk) every month, cashing in a thousand after each draw to put in the Vanguard fund after the second month. Have it in an ISA if you haven’t already got one.
If you don’t need access to it I’d just stick it in a broad market ETF and leave it alone.
Low fee platform, global exposure, job done.
Personally I’m about 90% in a Vanguard FTSE Developed World fund and 10% in their Emerging Markets one. Keeps it simple but still gives you decent global coverage.
You’ll get all the usual noise about picking stocks or timing the market but for most people that just ends up costing them money. Boring works.
Main thing people forget is inflation. £10k sat in cash is just quietly losing value every year.
Slightly more left field, and depends on age and situation, but pension is worth a look too. If you’re a higher rate taxpayer the tax relief on something like a SIPP is hard to ignore.
Only real caveat is make sure you’ve got a cash buffer first so you’re not forced to pull it out at a bad time.
Low fee platform, global exposure, job done.
Personally I’m about 90% in a Vanguard FTSE Developed World fund and 10% in their Emerging Markets one. Keeps it simple but still gives you decent global coverage.
You’ll get all the usual noise about picking stocks or timing the market but for most people that just ends up costing them money. Boring works.
Main thing people forget is inflation. £10k sat in cash is just quietly losing value every year.
Slightly more left field, and depends on age and situation, but pension is worth a look too. If you’re a higher rate taxpayer the tax relief on something like a SIPP is hard to ignore.
Only real caveat is make sure you’ve got a cash buffer first so you’re not forced to pull it out at a bad time.
Do something before the kids need it. The last emergency cost me 14k.
I would put it to work myself tbh, bit of buying and selling, something to occupy the mind, you don't need big profits to beat the banks.
Not everyone can do it I guess, well. not if it doesn't interest them or have the confidence or time.
I would put it to work myself tbh, bit of buying and selling, something to occupy the mind, you don't need big profits to beat the banks.
Not everyone can do it I guess, well. not if it doesn't interest them or have the confidence or time.
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