We have recently come into some inheritance not tons but circa 150k. We have 200k mortgage up for renewal in november currently on low interest rate. We need a new bathroom and some other bits on garden. Two DC. One secondary one primary.
DH hasn't really thought about what to do but initially invest a chunk in short term high interest savings for 6 months till mortgage renewal pay a chunk off. I suggested some for children rest for house and a holiday.
We are mid forties, i work in public sector with 18 years pension part time for 12 due children. But due to a chronic health condition currently unlikely to return full time. DH for same company for 25 years good pension.
My parents have property which they rent and have continually stated don't invest its aggro, tax, capital gains tax etc etc.
DH friend is now pressuring him stating its best thing for investment , buy small place with small mortgage rent out etc etc.
We are going to see a financial advisor but I am very against the idea. I feel lowering the mortgage and any extra can go toward investments ?