You’ve been given £500k tax free

[Newsenmum]

What are you going to do with it?

I’ll pay off the mortgage to make our day to day lives more fun and manageable. I’ll do up the kitchen but leave the rest of the house for now (want to decide slowly exactly how we want it). Will organise a lovely family holiday (maybe a big house in Italy) and the reminder in savings for now.

Anyone else?

We will repay our mortgage, leaving us 250k to work with.

85k into each of our pensions.

20k towards home renovations, we love where we live so won’t be moving.

5k towards the garden.

20k towards uni for DS2 (DS1 is using the uni savings we have).

35k will cover a donation, a holiday and maybe a shopping day (shopping bit would be minor).

I’m using the word ‘we’ however if I ask DH he’ll say scrap all that we’re buying farm land.

Single person here, renting and with no kids. I’d buy a two bedroom house for £200K in my area, invest £250K, self-fund a full-time PhD for three years whilst not working (£40K) and spend £10K on a couple of holidays in Asia and New Zealand.

400-450 for a house. Put 10k away for the next car, have a holiday. 10k for the kids towards uni expenses.

Buy DS a house for around 300k, DH and I both new cars and take DH, DS and DS GF on a cruise. Pay for a slap up dinner for all the volunteers I work with.

Pay the mortgage off (£20k), retire, put money aside for ds' university fees.

Take myself, ds and anyone else who wanted to come along, on holiday to the Caribbean.

Take down the conservatory, rebuild the garage.

Relax 😎

Pay off the mortgage.

Buy an investment property.

Put some away for dd and ds.

Money then all gone!

Invest it for a few years then use two thirds to give the dds a good sized deposit for a house each and keep the rest to enable dh to retire early.

Mortgage, new car, family holiday.

I would have another baby. And use the money to pay for a loft conversion, and save the rest for childcare and helping the kids in future.

New kitchen and bathrooms, new car, big family holiday, some investment properties and then invest the rest.

I wish!

I'd give DS2 100k deposit for a flat, DS1 the same amount to study post grad on a course he has been accepted for but can't afford to do.

Then I'd give up a big chunk of the freelance work I do and focus on my own projects for a few years. And take DH, and adult DC too if they wanted, on some fantastic holidays.

I invest in property

Pay off the mortgage and give the rest to my DC to put towards their mortgages.

Leave DP

Use it to buy a bigger house. One with a driveway so I'm not having to worry about having nowhere to park every time I go out somewhere.

Love this

Pay off the mortgage, renovate the house and gardens - we bought a fixer upper.
£180,000 split between each of our DC to invest for their future. A family holiday and new car. Then invest the rest.

Oh how I wish!

The first 400k would be spent on paying off the mortgage and student loans, and doing some home maintenance that needs to be done - replacing some old window frames, new carpets upstairs, refreshing the paint, and paving the driveway.

We’d have around £2.5k more per month if we weren’t paying student loans and the mortgage, so life would be very different for us. We may then be able to afford to save up for private secondary school for our (young) children.

The remaining £100k I’d spend on a lovely family holiday, and then we’d save for us and the children’s futures.

That really would be a life changing amount of money for us.

I'd use 300k to move and give the rest to DC

Sell our 2 bed place,get one with 3 so both grandkids could stay together, and other grandkids and their partners could stay. Much bigger garden, more animals.

Retire.

Buy another three two-bed terraced properties to let and retire.

That'd still leave me £150k capital so I'd max my premium bonds and put the rest into some kind of investment.

Pay off the mortgage and credit card, do all the work to the house we want (new kitchen etc), big trip to Florida with the kids with no expense spared, buy dh a new car, I would buy something special, likely a Chanel bag. The rest we'd save/invest.

Have a fantastic kitchen, two fantastic bathrooms and add a utility room. Keep some for holidays and weekends away and put some aside for the grandchildren.

£500k would be enough to enable me to retire.