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100K inheritance to put somewhere trouble is:
by the time it comes through I will be 2 months in to traveling/working abroad (up to 12mnths).
most fixed term deposits need you to open and pay in lump within 1 month
Have it paid into my regular savings account then?
Appreciate your time
90% in coke+hookers.
Just blow the rest.
How long do you want to squirrel it for? Long term or will you buy a house the minute you get back?
Rickos- ideally 1 year max fixed term then property on return.
allthepies- that's what im doing on holiday 😆
Gold coins.
Pity you can't buy a property before you go an get an agent to let it for you.
Otherwise how risk averse or not are you?
Use a Money Market account with an auto roll , that way if your plans change you can simple pull the capital back. What ever you do you aren't going to get paid a fortune with base rate so low.
Unless you are willing to lose a significant amount avoid any sort of commodity or equity risk
You might want to consider placing it with a decent building society if you will be coming back and will need a mortgage - some give preference to existing account holders.
This thread ended with the first response.
i don't see what the issue is with internet banking and all.
property 100% for me, don't know about england and all but here in cornwall with cash there are some stunning deals to be had.
research the market now, long term rental or holiday rental (personally i prefer the latter), talk to agents, line up solicitor and make a plan.
property 100% for me, don't know about england and all but here in cornwall with cash there are some stunning deals to be had.
Property is a very il-liquid asset, coupled with high entry and exit fees (solicitors,stamp duty and agents) make it a very long term investment IMO. Unless the OP found a house he wanted to live in when he gets back from overseas, I wouldn't be tying that amount of money up in property for anything less than 10 years (planned, sometimes sh1t happens hand you have to liquidate before you planned)
Shares are also a bit risky over a one year period, also, IMO. Big set of kahunas that can drop 100k into shares in one to go, drip feeding in minimises the risk.
If the OP definitely wants access to the money in 1 year I reckon you'll have to take the hit on misery interest rates paid on cash accounts. All depends on the personal circumstances, I guess 😀
I have experience with shares but to be honest don't have enough knowledge to confidently invest such an amount.
Agreed buy to rent would be ideal but il be away before the money comes through.
allthepies +1 say no more
For a year, fixed rate bonds aren't significantly better than a decent savings account.
From a quick eye, there's around .25 of a % point difference, so less than £250, given as it'll be for 10 months, and there's still tax to consider. For not faffing, I'd just dump it in a savings account with a decent interest rate.
If you do go the cash route font forget that only 85k is guaranteed by the government with each institution, so you want it across two accounts. Some of the building societies and banks can belong to the same groups so check that also.
travelling you say? you can buy a lot of blow for 100k, could make you a few million on your return....its a dodgy business tho...
85K protected--- good point
I love how funny lots of people think they are on here. 99% of it wouldn't be amusing even to school kids.
I much appreciate the helpful comments of the majority 🙂
100K inheritance to put somewhere trouble is:by the time it comes through I will be 2 months in to traveling/working abroad (up to 12mnths).
most fixed term deposits need you to open and pay in lump within 1 month
Have it paid into my regular savings account then?
Appreciate your time
You mean where to stash the loot from your latest blag whilst you do your time?
Ha...I reckon I'm the most law abiding citizen on here!
Pity you can't buy a property before you go an get an agent to let it for you.
Buy 2/3rds of my house (see classifieds) and we'll split the rental income?
1)3% on Gold and Silver as a hyperinflation hedge
2)30% on Equities. I think the stock market will do ok while your away.Aberdeen Asset management,Diagio,Home retail Group and Optos would be my suggestions.
3)Checkout the new savings vehicles at Friends Mutual for a decent return on your Capital.Invest maybe 30% of your Capital here.
4)Ten grand in peer to peer lending,ie Zopa.
5)Perhaps the rest in an Easy access Cash or share ISA
You should try and make your money work for you while you are away.Most high street offerings are an insult.Neil.
Wow thanks Neil, would I need to do that through some sort of financial advisor or can it be done online?
I did most of it online.Remember some of the above carries risk.You may wish to study and explore alternatives.I used Natwest stockbrokers and a Virgin Bank financial advisor.Others are avalable.Good luck.
What d'you reckon the returns would be, for 12 months?
Hargreaves Lansdown are good for shares ISAs, etc as they don't charge you 5% for the privilege of putting your money with them.
[b]Gerbils[/b]
Spend the whole lot on gerbils
A ratio of approx 10% male and the rest female should be the most efficient
Wen you get back you should easily see a 100000000000% increase on your investment
Or you could just ask a bunch of randoms on a bike forum instead
🙂
Whats your point Aidy?Would you prefer wallla to leave his money in a bank account.He will be losing money due to inflation.Also walla dont listen to the people on here telling us property is a one way bet.It is still well overpriced compared to wages and is going to fall further.
He will be losing money due to inflation.
It would be far better to lose money due to taking financial advice from people you've never met on a bike forum 😉
It would be far better to lose money due to taking financial advice from people you've never met on a bike forum
Balls to that, I've just PayPal gifted £100K over.
No fighting please, I am just asking advice!
I will obviously thoroughly research anything that sounds interesting before handing over my cash 😯
Just good to get ideas that I haven't thought of so appreciate the input.
Thanks for the link Rickos
Whats your point Aidy?
Um, I wasn't trying to make a point. I was genuinely curious as to what returns you'd expect.
My portfolio of shares with dividends has gone up £1700.00 since mid December.Try achieving that with your bank accounts.Walls asked for ideas.I provided some the rest of you were negative and cynical Why bother coming on here if you have nothing to say.
You seem a little defensive, are we not supposed to ask for expected performance when given financial advice?
I mean, I'm sure I could google and find out how various things have performed over the last year or so, but when it seems like you've already done the research it would be silly not to ask.
£1700 sounds like an impressive return over the space of a month and a bit, but it's not an amazingly useful figure without knowing what the initial investment is.
Why bother coming on here if you have nothing to say.
I told him not to take financial advice off strangers on the Internet.
In itself that's possibly classed as financial advice.
But it's not the sort that can cause him to lose his inheritance is it ?
Neal,Financial advisors are strangers as well.Many of them have there own agenda to.Not sure I would trust them anymore than the people on here.Walla asked for ideas.I provided some.Why dont you make an effort to do the same instead of making pointless,negative comments.
He asked for advice. And I gave him some.
If you don't like the fact that it doesn't agree with yours, then that's something you need to come to terms with, because that's what happens in life. People will disagree with you.
For me, he fact that you have described advice to be careful about taking financial advice from a stranger on the Internet as "negative and pointless" would put you in a sub category which is slightly below "strangers on the Internet" in the list of people I would take financial advice from.
Sheeeesh! Must every thread have an argument!
Thank you all for your advice/ideas.
------THREAD CLOSED------------
Sorry, but I think financial advice is quite an important thing to get right.
And to get from the right place.
Other people have different opinions.
But that's what you get when you ask for advice, different opinions.
I'd stick 30k in premium bonds - might stay static but always a chance of a win...
He asked for ideas not advice.You managed to provide exactly non.
Neal,if you don't think the people on here can provide any usefull ideas or advice,why do you bother coming on here.Walls did not ask for people to contribute negative and flippant comments to his thread.I would suggest you are your own sub catagory ie destructive.The Apes.
I gave him some great advice ....
[b] Don't take financial advice from strangers on the internet[/b]
Are you going to keep posting hoping for an argument ?
(And following me round on other threads too ?)