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Original poster

What to buy with £100k?

109 replies

Tristani · 16/06/2024 07:17

Our family consists of DH, dcs and I.

DH & I have put 50/50 for deposit. We earn roughly the same salary which goes into joint account and pay the mortgage from there. House worth ~£600k with £250k outstanding. We overpay. No other loan.

My dad is wealthy, most tied up in assets. He is very generous with me and the children. Dcs have investments and savings which they can access at 18. Until then, they have access to the best education and hobbies.

My dad wants to gift me £100k. He has expressed that he does not want me to put it in the mortgage. He wants it to specifically benefit the dcs.

I am not sure how to honour his wish. What could I do with £100k?

OP posts:
renthead · 16/06/2024 07:30

My dad wants to gift me £100k. He has expressed that he does not want me to put it in the mortgage. He wants it to specifically benefit the dcs.

I don't see the point of stipulating eBay you can use it for. But you'll benefit your DCs most by investing it on their behalf for the future, even if they already have investments in their names. I don't see the point of spending it when they already have access to excellent education and hobbies.

bergamotorange · 16/06/2024 07:28

I'd be cross at a gift coming with strings tbh.

But could you say you'll use it for 'holidays' and then just overpay the mortgage with the equivalent amount?

ExitChasedByAPanda · 16/06/2024 07:27

Start working backwards. You can draw up an Excel sheet and deduct from the 100k. For each child, allocate money for university tuition fees and, if they move out for university, you might need to consider transport and accommodation costs. Use the rest of the money to go on a vacation with your family. If you have any money remaining from the 100k, you can put it towards doing some landscaping or something like that, as it can add more value to your property.

Monty27 · 16/06/2024 07:26

What are the tax implications on a gift of 100k?
My dd had to declare 6k I gifted her.

CoastalCalm · 16/06/2024 07:25

Holiday home in France

Nourishinghandcream · 16/06/2024 07:24

If it is to actually buy something then I suggest a nice Moho and enjoy some travels while the DC's are young (you don't specify ages).
Freedom, independence, memories and if you so desire, a new location every day.
£100k will buy a good sized family model.

I am biased as this is what we did as kids and still do.

redfacebigdisgrace · 16/06/2024 07:24

How old are the children? How many do you have? Did he have any suggestions for what to do with the money? So they already have hobbies/private school? savings?

Holiday? Following a special interest? It depends on their ages.

Didimum · 16/06/2024 07:23

Travelling is the only thing that springs to mind. Or you could purchase a buy to let in a cheap area to hold in a trust for them.

Charliebrow · 16/06/2024 07:22

If they have access to best education and hobbies then the only other thing I can think of is holidays/travelling

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