What would you spend 50k inheritance and 50k savings on?

[Longthindaisies]

Just that really. No joy in getting this inheritance due to losing a very loved family member but I wanted ideas or experiences on what people have used this kind of money for?

I’m mid 40s, mortgage paid off, have another 50k in savings. Both of us have good jobs in the public sector.

I'm sorry for your loss. Given you have no idea how to spend this money it would suggest you don't need or want for anything. I would invest or save the money for now.

I honestly don’t understand these questions if you don’t know what you want to spend money on then you don’t spend it. It’s very simple. You don’t need ideas on how to spend 50K, you wait for something to become important enough to you to want to spend your money on. Is this not obvious to people?

Pension ? If you don’t need now it could be good for future use

Assuming your pension is fine if public sector

Then would invest - whole market tracker low fees … in ISA if you have allowance left then hold the rest in as high interest a cash account to move in next year or just put into a general investment account

Yeah not particularly exciting but if you don’t need it for a while

Else plan something that reminds you of the person / charity donation to something that was meaningful for them?

My plan for when a much loved family member dies is to use a portion of the money for lovely family holidays to remember them. They would be happy with that. Bittersweet though.

The rest I plan to invest for the children to skip a generation and give them a gift from my family.

What picky said I'd invest it

Op do you have any stocks and shares investment ?
If not start now .
The that 50 will become your capital and you can then skim off it when you want something without depleting your capital and still growing it.
As pp said low cost broad index funds

Save it. You never know what’s going to happen in the future, and you might be very grateful you didn’t spend it!!!

If you don’t need it for anything yourself, and your own ISA’s/pension allowances are used, I’d put it my kids ISA’s and SIPPs, assuming you have kids?

Your post almost reads like your duty bound to spend it, if there’s nothing you need/want, invest it till you do. 50k savings isn't a huge amount at 40 something…

Put £50k in premium bonds. We worked out that we get an average return of around £2-3k a year in winnings and they're easy to move in/out if you need to.

If I had that money, I'd spend it at home - we need a new kitchen/flooring, new main bathroom and just a general overall decorate. £50k would cover all of that.

Holiday home used for retirement. The way things are going, I think property in another country could prove useful in the event of war etc.

I had a gold necklace made with some money from an inheritance. I had it set with the birth stones of family members who had passed away.
The stones are set in at the side so it isn’t too showy.
Obviously it didn’t cost 50k, the rest went into my pension and savings

I’d invest a good chunk in a private pension and use a bit for something that would normally be out of reach like a dream holiday, car or a piece of jewellery.

Wait while the loss is saw raw. Invest for now and think about how you’d like to spend it in a few years time, there’s no rush, no timeframe, no right way to use the money. Sorry for your loss.

Premium bonds.

Something that brings you joy. You are financially secure with savings and no mortgage. Personally for me that would be a camper van or a static caravan I could use as an escape.