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Original poster

£10,000.......

50 replies

BertrandRussell · 31/10/2018 07:27

What's the best thing to do with it? No mortgage or debts.

OP posts:
GeorgieTheGorgeousGoat · 31/10/2018 07:30

Is this a new thread trend? Lots of different amounts of money in the title and we have to help the OP spend it... Grin

Original poster
BertrandRussell · 31/10/2018 07:34

Oh sorry- I haven't seen any others! I've just had a lump sum from an old pension, and am musing about what to do with it-it's not enough to be worth investing, I suppose but too much (obviously) to fritter.

OP posts:
Eminybob · 31/10/2018 07:37

Well I have a mortgage and debts so that’s what I would do with it. But in the absence of those:

Big holiday
New (but 2nd hand) car
Landscape gardener
Extended maternity leave

(See where my priorities lie, holiday being at the top of that list Grin)

Eminybob · 31/10/2018 07:38

Oh, new boiler and central heating system (if I must)

HeronLanyon · 31/10/2018 07:38

Depending and so many things - age/children who may need some help/care for elderly parents/pension situation/housing condition/renovation etc etc !! If it’s really completely unencumbered money ? I personally would try to put 50% away. Then splurge the rest on some bucket list travel or similar - something I would regret not having done where it had become possible. Oh also a few standing order memberships/support either for you or in family names for meaningful charity/organisations you don’t yet support. Have fun !

8FencingWire · 31/10/2018 07:41

You don’t have to spend it Grin.
Keep 1,000 in an easy access account, for ‘stuff’.
The rest, I would put half in savings, half I would invest (shares).

kaytee87 · 31/10/2018 07:48

Depends on how old you are and what your financial situation is. Any home improvements required?

Ilovetolurk · 31/10/2018 07:53

You could do 5% of the spending ideas suggested in the £200,000 thread

Ofitck · 31/10/2018 07:56

Too many variables! If you dont need it, do you know anyone who does? We would never have been able to buy a home without parents help, for example.

Id sort my debts and mortgage (although that wouldn’t cover it!) then get a better family car, holiday and save the rest for DCs.

BarbaraofSevillle · 31/10/2018 08:26

Can you put it into other pensions? If it's from a pension, are there any tax implications if you take it as 'cash' rather than put it into another pension?

Otherwise, I'd put it into premium bonds for now.

I don't necessarily link 'having money' and 'spending money', they don't feel connected, to me. So in your circumstances, I wouldn't be thinking 'what can I spend it on', I'd just do something useful/low risk with it (ie pension, premium bonds, fixed term or instant access savings) and then carry on spending as normal and if a use for that money was identified, I would use it.

But maybe that's because I don't covet 'stuff', cars etc and don't enjoy planning and sorting/doing home improvements.

That sort of money would be good for a big but uninteresting project like new roof, electrics, windows, driveway, landscaping etc, if that sort of thing needed doing.

nornironrock · 31/10/2018 10:05

hifi
bike

I'm going to need more than £10k.......

Taffeta · 31/10/2018 10:09

A fabulous holiday. Something to remember on your deathbed. [morbid]

pumpastrotter · 31/10/2018 10:09

Big bloody holiday in Hawaii or some lesser known paradise islands

BlackeyedGruesome · 31/10/2018 10:11

isa.

AdamNichol · 31/10/2018 10:17

18 months train season ticket into London?

RunSweatLaughAndLatte · 31/10/2018 10:23

Savings, then keep adding to it every month until you have a deposit for your own property.

BasiliskStare · 31/10/2018 15:29

Unless you have a £10,000 "dream" ( given no mortgage or debts) so - i.e. all working well currently , I would put a small amount aside for "treats" and then, if you have DCs I would put a chunk away to help them out as and when they might need it. But that is assuming , no mortgage no debts means no current financial worries & e.g. the car giving up or the boiler going wrong would be irritating rather than a huge problem.

BasiliskStare · 31/10/2018 15:47

By the way - my post made on the assumption other pensions will do what you need them to do.

marvellousnightforamooncup · 31/10/2018 16:02

Seconding ISA.

EmmaJR1 · 31/10/2018 16:04

New kitchen!!

AamdC · 31/10/2018 16:37

Im not sensible enough to put mine into a savings account so personally i would put that money to a holiday, refurbish decorate the house or a car?

Sgtmajormummy · 31/10/2018 16:57

Kit out a hobby room and make it your inner sanctum. A place to read, one to be creative and one for a project you’ve always said you’d do.

ItsJustTheOneSwanActually · 31/10/2018 16:58

save it till you need it.

Original poster
BertrandRussell · 31/10/2018 17:49

Thank you all. The trouble is that I am older than most of you, and so I actually have many of the suggestions- a car that works, reliable heating and a nice kitchen and my own space.

Anyone in a similar position, I can’t stress enough the utter joy of a room -or at least a space- of your own. It’s something that men seem to get more than women do, so push for it if you get the chance.

OP posts:
Bumply · 31/10/2018 19:40

Premium bonds.

Chance of a win. Still have your stake if you don't. Easily accessible if something crops up in the near future.