Concerned about DDs financial position

Her employment situation seems very precarious so I would be more concerned about that than her finances. Feeling 'terrified' suggests she needs to be far more proactive in ensuring she's on a sustainable career path rather than waiting for extraneous factors to force her hand.

The crisis will only deepen. Gold will be up more.
Luxury will move to OAE, inevitably.

Ffs this is a forum and the OP is entitled to ask for advice as anyone is. Some people have never been to a financial adviser in their lives. Take your self destructing bitterness elsewhere.

This. Mine is fantastic and gave me the option and confidence to semi retire in my 50's - on not a lot.

> “I feel like I have money right now, that I haven’t matured enough to use”.
That sounds pretty mature to me
Does her employer offer financial advice services to their staff?
Otherwise it's time to book an appointment with an IFA

My adult DS is also in a very good financial place, he lives at home with just DH and I. I do nag him twice a year to sort out his money. He also maximises his cash ISA allowance, the rest is in savings bonds and easy access savings accounts. He did try premium bonds, but hardly won anything, so he put that money back in bonds. He’s not interested in stocks and shares and although he would have a nice deposit on a home, he would still need a significant mortgage at the moment. His younger brother moved out with GF earlier this year, they’ve not had it easy, lots of complications with property and this has put my other DS off owning anything on his own for now.

DD should employ an accountant.

When DD does her tax she should ask for some advice about her investment strategy - with the aim of wealth creation and owning her own home.

She really should consult an IFA.

she can put £50k in premium
bonds.

there are some good safe 5-year ethical investments available eg Abundance council bonds.

NS&I also has fixed-term bonds.

Buy gold, obviously

Well done on your daughter for being so financially secure but also seeking advice....
Financial advisor would seem sensible. Also look into premium bonds for her 5 year cash....

Well she’s probably right. Savings accounts are paying reasonably interest rates, particularly if she’s locking it away in term accounts. I wouldn’t invest with that horizon, and wouldn’t pay a financial advisor either. She might not be maximising her return, but she’s balancing it with her risk appetite and adding to her savings to make every month which means they’re not going to entirely erode away - and inflation over a five year period isn’t going to make a material difference.

So let her make her choices, there’s nothing to worry about.

She should buy property .
I was in her position in late 20s and getting a foot on ladder is key.
dont let her flatmate hold her back.
leverage where possible. Renting is lining other people’s pockets at the end of the day

Why should she?

Agree with seeing a financial advisor, also don't have all savings with one bank/building society/other financial institution.

The reluctance to live alone needs to be tackled, as it will happen to many people one day, and better than being with people who are unpleasant or worse.

🤣

The OP is as entitled to post here for advice as anyone else. Your comment looks petty and envious, it’s not a good look.

Utterly stumped as to why she believes her own research is the be all and end all, and has not thought that maybe professional financial advice from a qualified, experienced and well referenced financial advisor may throw up possibilities and considerations her research has missed?

She seems to be doing OK. Putting a significant amount of money aside while retaining flexibility.

There's disadvantages to whatever she does with the money.

S&S aren't necessarily a bad choice because they could still beat cash in the short to medium term (mine certainly have over the last 2-3 years) and if the market is down when she wants to buy, she could just take a larger mortgage, which she could probably afford, and pay it down when they've recovered.

As a high earner, she'll pay a lot of tax on cash savings, so the return will always be poor so she probably wants to not hold a huge amount of cash.

She could do a lot worse than put £50k in premium bonds as she should average close to the 3.6% payout rate, which is worth 5% or more to a high earner as they're tax free.

Depending on her current level of knowledge, something like the Rebel Finance school could be worthwhile.

She should pay for some financial advice. It doesn’t matter if she has money not doing anything; it’s not life or death and eventually she’ll find a way forward.

I 100% understand her position... the social contract is broken in the uk. She's lucky enough to have this inheritance and like most people fearful about the gloomy economic outlook... on top of that she is almost petrified she's "throwing away her shot" if she gets it wrong.

Reddit henry reddit is a good place to start.

I'd look at a good financial advisor
She should be looking at a well advised S&S isa despite "risk" as well as VCTs (i use a financial advisor for this as have no clue what im.doing with that)

I can recommend a small firm in london i use if you would like. (Dm me)
I reccomend them because they are good, not pushy and are qualified / knowledgable about a large array of products that means i habe good choice on accessing various products.

My personal opinion: holding out and renting might be no bad thing i see a housing in uk going the way of japan.
I think millenials and gen z are a bit fucked here (the idea your house can be your pension is a bit laughable for these gens) but gen x upwards will do okay due to buying at lower prices so bigger delta / having more equity due to property gains on previous places.

Pay for a financial advisor

Sorry i am not clear what advice she is asking for? She is saving a deposit to buy a house which will take five years and she doesn't want to invest it so it is in savings and she is certain about that decision so what is she seeking advice about? This is the wrong forum to ask whatever it is she is asking - she sould sign up to the forums on Money Saving Expert where there are separate forums for both house buying and savings and investments.

Tell her to check out the Rebel Finance School course on YouTube and join their Facebook site - excellent free information which will outline other shorter term investment options.

What a load of cobblers - she sounds really sensible imo, but mumsnet always finds somewhere to stick the knife. On other threads a mixture of investments and cash is key and I’d get berated for not holding much money in cash. And on another she’d be told off for not having more fun with it.

I assume OP that the situation is that she’s maxed out ISAs and LISA but still has some she can’t put in. Premium bonds are also tax free. And you can use the same investments/ savings products as your ISA with more money but outside an ISA and pay tax. There are loads of apps that allow you to move money easily.

Ultimately though investments carry risk, which also isn’t ideal if she wants to buy a house in 5 years time - that isn’t that long. So I’m not absolutely sure that what she is doing is actually wrong.

By the way I once knew a guy who was a financial advisor who took out a loan over 15 years to buy a car 🤣🙈

🙄