Windfall

Have you used ISA allowance ... £20k each a year? If not that’s worth considering. Personally I’d do a 2year fixed rate cash ISA.
 
As the rate of interest is near to 0% and inflation is also low. Go out and put it in premium bonds. Over a year you may get about a 3% return and even may win the big one all tax free. (£30,000 per person)

There are other ways to get a small return by opening loads of bank accounts and cross fire small monthly amounts too get around a 2% return but its time consuming.

There is always Brown face lady trap 3 running at Romford dogs at 8.30 tomorrow with a 4/1 to win bet
 
I'll give you a 25% profit on your investment in 5 years...... If you can find me.

You're definately asking in the wrong place.

I do know a bloke who could use it to pay his next 42 night holiday hotel bill though.

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PJGWiltshire said:
As the rate of interest is near to 0% and inflation is also low. Go out and put it in premium bonds. Over a year you may get about a 3% return and even may win the big one all tax free. (£30,000 per person)
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Think you will find it is now £50,000 per person. :) :) :love: :) :)
 
`is it? Need to put some more in my allocation
 
Grianan said:
Have you used ISA allowance ... £20k each a year? If not that’s worth considering. Personally I’d do a 2year fixed rate cash ISA.
[/QUOTE
We’ve not used all our allowance so will top them up. The longer it’s in the current account the more my other half spends?
I’m hoping to retire next year after 45 years Roofing. Not got a pension but hopefully enough savings so this really helps us
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Do you want to save or invest.
What is your attitude to risk.
What is the timeframe.
Do you want/need flexible access to your funds.
What is your goal, security, growth, income.

These are among the questions that need to be answered before any sensible person can make any suggestions.
 
Thats why I found premium bonds worked for us as part of our investment plan . By having the money in PBs you could not have quick access, if you are lucky you can get a small return tax free and as we all live in hope you can win the big one. The payouts on PBs changed and the chances dropped to around 1.25% return but as part of a broad portfolio they are fine.

Take specialist advice and spread your windfall for when you need it

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Langtoftlad said:
Do you want to save or invest.
What is your attitude to risk.
What is the timeframe.
Do you want/need flexible access to your funds.
What is your goal, security, growth, income.

These are among the questions that need to be answered before any sensible person can make any suggestions.
I could put it away for five years. I can’t afford to lose too much so I think low to medium risk & I don’t need access
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Adam b said:
I could put it away for five years. I can’t afford to lose too much so I think low to medium risk & I don’t need access
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Then conventional wisdom is that you should look for a savings product.

Unless you have a lot of other savings/investment income I wouldn't worry about an ISA wrapper as since 2016 you can earn up to £1k pa "interest" tax free.

Then it's simply a matter of finding a "best buy" table such as on moneysavingexpert.com ensuring whatever institution has full FSCS protection.
https://www.moneysavingexpert.com/savings/savings-accounts-best-interest/

If you are willing to 'work' at it there are regular bank current accounts which pay higher rates than savings accounts - usually requiring a minimum monthly deposit & a couple of direct debits... but this is easily achieved by moving money automatically from one account to another.

Also some banks offer high interest regular savings schemes.
 
Tesla shares...
If there was EVER a time to get on board I think now is the turning point from development and expansion into profit and sustainability
The-A-Team.jpg
 
Langtoftlad said:
Lack of liquidity
Cost of purchase/sale
Risk - overall "property" might've increased but not all properties do.

Pure gamble.
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More than any other share offering??
I wouldn't put the whole lot in there obviously but a balanced portfolio with a bit of everything.
Could put some in an share accumulation fund if definitely not touching for a number of years.
 
Bailey 15 said:
Invest in property no brainer best return
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Do you think the increase in peoples purchase of Motorhomes and van conversions is a sign that "owning a property" that once was a "sure thing" isn't quite so saught after by the more mobile generation now a days?
 
HandyAndy said:
More than any other share offering??
I wouldn't put the whole lot in there obviously but a balanced portfolio with a bit of everything.
Could put some in an share accumulation fund if definitely not touching for a number of years.
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Personally given the OP's attitude to risk, the relatively short time frame, I think buying individual shares is a high risk, high cost strategy.
Investing requires time to be able to ride out the fluctuations of the markets, even in a tracker fund.

Bailey 15 Buy to let isn't the goldmine is possibly once was. The costs are not inconsiderable... and the amount available severely limits the possible choice of property and is very high risk putting all the eggs in one basket.
 
PJGWiltshire said:
Thats why I found premium bonds worked for us as part of our investment plan . By having the money in PBs you could not have quick access, if you are lucky you can get a small return tax free and as we all live in hope you can win the big one. The payouts on PBs changed and the chances dropped to around 1.25% return but as part of a broad portfolio they are fine.

Take specialist advice and spread your windfall for when you need it
Click to expand...

Absolutely agree. Interest rates are so pathetic, you may as well stick it in premium bonds and stand a chance of winning big. And at least you get your stake back unlike the lottery. Also, you can get your money out immediately if you need it and it is safe.

Obviously, if you have more of an appetite for risk, there are other options that could make gains but also run the risk of making losses.
 
I don't disagree with Premium Bonds, I have them myself ...
...especially as a safe short term but easily accessible place to deposit the windfall but far enough out of reach to stop filtering it away...
...whilst the OP researches & learns what options are available to him.

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If appropriate look at marriage tax allowance on gov web site. To long to explain here but you only need you and wifeys NI numbers do it over the phone it is easier. I have just done it and believe me it is worthwhile as they back date it to 2015. Cash refund and they raise your basic tax allowance
 
We too are in the same fortunate position. Age is a most relevant factor in deciding what to do with a lump sum. We all hope to live long but it is not a certainty. I am 65 and this year saw my brother pass away at 70. We have decided to enrich our daughters life style and will not be holding back on the spending. It was money for nothing and we could have done without it. We have some money in the bank, a pension and collateral in the house for the future. If you get ill and have to rely on carers or a home rest assured £50,000 will disappear just like that.
 
I also like premium bonds and generally get a return of between 1% and 2% on £50k. I also enjoy the monthly routine of checking them online to see if I have won, still waiting for the big one but expecting it very soon:rolleyes:.
 
You could put some or all of it in a Ratesetter Access account. This pays you 3% interest and allows you to access any of your money with no penalty.
Or you could go for their Plus or Max account paying 4% and 5% but with a penalty for withdrawal of money.
£25000 in Ratesetter and £25000 in Zopa would be my choice.
You would need to read up about the risks of peer to peer lending first, of course.

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