What would you do if you inherited 450K?

[MissSmithToYou]

Just that really. Buy a new house? Spend it? Save it?

I'd pay off my mortgage and buy a larger house with the equity from my existing home and some of the 450K. I'd then invest the rest using a wealth management company I think

You?

Pay debts but not mortgage.

Then put money in pension and buy a property or 2 to rent out.

Move to the little place I’ve seen on Rightmove, (out of London for DCs health condition), and try to find the happiness I’ve been unable to feel for twenty years after a trauma. Make the most of life before DP becomes ill.

Invest it .

Buy a 4 bed terrace (there’s loads around here for about 250k), do it up, learn to drive, put the rest away for when I’m doing my PhD (currently an Undergrad)

If not already done:

• Clear all debts (including mortgage)
• Make sure pension pots/long term savings and investments are adequate
• Have a good amount in easy access savings

Then have a little splurge:

• Final push on getting the house how we want it
• Have a wardrobe/style makeover for both of us
• level up on next holiday/weekend away

Finally:

• Save/invest the rest for DC future

Move house paying cash for new place and retire.

I’m very sorry for your loss OP

First thing I’d do is go and see a financial advisor.

Bung a load into savings for dc, Uni etc.
I’d definitely go on a nice holiday.
Our house/garden is fine and so is our car etc so wouldn’t need to spend money there particularly.

As someone else said, it’s not a life changing amount for us but it would cushion life for us and our dc going forward so it would be amazing to receive such a gift. Peace of mind is priceless.

Cry with relief that I can clear my debts and actually have some money to spend on me.

It would be a life changing amount for me. I could pay off my children's mortgages as well as move myself and retire.

450k

Pay off mortgage 200k at the end of the 2 year fix, make max overpayment each month until then
Buy a car - up to £40k maybe
Have a heli ski trip of a lifetime (15k-20k)
Chuck the rest 50/50 into some ready access and index funds whilst I consider if I want to renovate downstairs and go into loft, or if I want to sell and buy something more central

It would be a life changing amount for me.

Get teeth totally re-done. Ala Kate Middleton.
Spend a month in a spa retreat.
Hire a personal trainer.
100k for dc.
Buy a small property to rent out.
That would be it gone I think!

It would change my life. In my area you can buy a lovely house for £200k so I could be mortgage free. I'd spend about £10k on a once in a lifetime holiday to French Polynesia. Then I'd save the rest for retirement. If I had were mortgage free I could live a great life working full time because where I live is so cheap.

You can buy a nice three bed house around here for £80k so £450k would be silly money!

House, new car, get a boob and arm lift (skin is ruined thanks to losing and gaining four stone repeatedly ), fantastic holiday and then a huge chunk into the retirement pot.

We received about £350k a few years ago. We gave 40k to a selection of different charities. About 150k went on moving to a larger house and building work. £10k on two holidays. £3k on stuff we wanted (laptop, tv). The rest we still have invested in stocks and shares ISAs. We are hoping it will fund an early retirement in about 10 years time.

Buy a building plot, build a house.

Move to a larger house.

Buy a place in the French Alps

Pay off the mortgage, fund private schools for the dc and upgrade our cars probably.

Pay off both mortgages - that'd use half of it - then buy 2 more BTL's with the rest.

With the income off the 3 BTL's I'd then be able to give up work or at least go very part time.

I would buy a tiny studio flat in Pimlico so I could visit London all the time without faffing with getting home, put it on Airbnb from time to time and let my daughter live in it when she’s older and can have a chance to save money on commute and rent

Do some jobs on the house that I want done but DH doesn't think are worth spending money on, buy a little holiday cottage by the sea, and give my DC enough for a small house deposit.

I did inherit about that when my mother died. I was recently divorced so I bought myself a nice apartment for cash, and I put a chunk of money in trusts for my kids. It was "fuck you money" in my mind - after divorcing I'd wondered how I was going to manage, and suddenly I was comparatively well-off and could do what I liked. Life has been comfortable ever since .

Pay off mortgage, invest 3x80k for kids for higher education and book a nice holiday.

I'd do an extension on our current house, sell up and buy a 4 bed with a mortgage less than our current one. I'd also drop down from 4 days a week to 3! I want that money!!!