You have 100K to start life over from scratch, ground zero aged 50, wwyd?

[DeadFlea]

So you have a stable roof over your head, no partner or dependents & you're in reasonable health. You have no education, career or pension. You can take life in any direction you want. Every expense comes out of the 100K. What do you do?

Do you have a job?

I don’t think it’s that much money honestly. I would put 90% into a pension, put 5% in the bank for emergencies and use the rest on something a bit extravagant eg holiday, things for the house

I would pay off the mortgage and any loans etc. Spend some on a new kitchen and put rest in savings. But 100 000 isn't going to give you a new life at 50.

Pay voluntary ni contributions to backpay as far as possible into your state pension, so you at least get a part UK pension, if not the full state pension.

Do free courses in functional skills for literacy and numeracy. Then do a few online vocational courses in something you're interested in.

Go on around the world cruise with your best friend or children.

Go to a recruitment agency and ask them to spruce up your CV. Get a job, and continue to pay into national insurance.

In the absence of a career or pension, I don’t think it’s going to buy a new start.

Use some of the 100k to train for a new career.

Of course, if you have a mortgage, pay off some it if you can.

Train for teaching English as a foreign language. I’d rent out the house and go travelling a s working for a few years. Not spend too much. Com3 back and get some work till pension kicked in.

Take a bit to travel somewhere you’d always wanted to go to. Then use it to get qualified in something you’d like to do to earn money. £100k won’t last long so invest the majority of the remaining, keeping some to support you while getting educated/qualified.

No job. That's why I said no career/education or pension. It's a start from scratch scenario.

No mortgage but all bills come out of the 100k

If the stable roof over my head was in the form of a mortgage free house in an expensive area of the UK I'd sell up and move somewhere cheaper, possibly Spain or Malta.

But if I couldn't release maybe half a million by doing that I'd look at the pension top up and retraining idea.

With the moving abroad option, obviously I'd invest the money to provide an income for life.

Get a part time job to cover all bills. Ideally somewhere that has a good pension match. Invest the £100k into a pension fund, backdating last three years' allowance.

With my other free hours, start a hobby that could be a further source of income in time.

Enjoy life.

I'd decide first whether I wanted to focus on education and career or leisure and social opportunities.

I think I would also get a part time job with pension (I appreciate easier said then done !) and look in to doing a course part time too. I’d save as much as possible and try and live on the part time job money, but ‘enjoy’ life if you see what I mean - as in be able to buy theatre tickets for things I wanted to see , visit friends for the weekend etc. Without worrying about money.

I'd probably buy a small property to do up and sell on or rent out and keep for pension income.

100k is a lot of money, but without any other source of income it's not enough to keep you long.

I’d use the cash to buy a property and rent it out, then get a job, a low paid/low skilled one if I’ve no career. No one has no education/skills/experience by 50.

Sipp, personal pension. At least 50 grand.
%into stock and share isa (not lump sum drip feed it in)
%into emergency fund.
Find a job so capital isn't touched and rent room out? 7 grand a year tax free from the renting room out BTW.

Put all of it in a pension and retire.

Op read the Mr moustache blogs. He is extreme but principles the same.

Hold onto capital and make it yield income. But don't touch capital

So sensible suggestions all.
Is it just me that would be tempted to sub let an apartment in an exciting city for a few months and live an alternative life for a while?
Should still be enough left to do the sensible financial things as well.

Rent the house out, by a Campervan and travel. Blog about it and enjoy yourself.

Maybe 2 grand aside for fun but ops postition is precarious and worrying. No income, no job. That money is a life raft.

If she spends it where is more coming frome?

Yes to the voluntary state pension contributions and look into backpaying.

Take a lodger in.
Rent out home, but a campervan and travel extensively.

Take basic English, Maths and IT courses to find some part time work.

@middlesister looks like we are both into vanlife.