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AIBU?

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Original poster

WWYD with a windfall?

68 replies

WWYD22123 · 03/10/2017 01:07

Posting here for traffic.

If you came into a windfall of just over £300k, what would you do with it investment wise?

I don’t have a clue! No debts, small mortgage of £50k.

Don’t like the idea of BTL and no idea where to even start with stocks and shares.

Absolutely don’t want to piss it up the wall either. Maybe a few thousand I’ll blow on luxuries but no more than that.

Help!

OP posts:
BarchesterFlowers · 03/10/2017 06:47

I would pay off my mortgage, make a few home improvements. We are buying a new house at the minute and I have got enough cash for either a loft conversion or a wood fired Rayburn that does the central heating but not both so I would do both!

Then I would buy a small holiday cottage somewhere really beautiful.

Assuming I was happy at work that is.

rizlett · 03/10/2017 06:47

Buy a new house to live in. Rent my old one out.

Crispsheets · 03/10/2017 06:47

Definitely get a good IF A.
I was in a similar position and am happy with my investments and returns. It's also very interesting!
Labour mortgage off, have some fun money but safeguard your financial future. It's total peace of mind.

speakout · 03/10/2017 06:49

Just to add - christmas was banned in scotland for many years by the church
The Church of Scotland – a Presbyterian church - had discouraged ‘Yule’ celebrations since around 1583. The church believed that there was no basis for celebrating the day as it didn’t reflect what was in the bible. There are even records of some people being arrested over unlawful celebrations during the years it was officially banned.

Christmas didn't become a public holiday in Scotland until the 1950s.

speakout · 03/10/2017 06:51

Opps = wrong thread. Sorry/

RavingRoo · 03/10/2017 06:52

Pay off the mortgage. Pay off my debts. Buy a buy to let. Invest the rest.

5rivers7hills · 03/10/2017 06:53

Another vote for a good IFA! You need professional help here because this is a great opportunity to really secure yourself a comfortable future.

ThumbWitchesAbroad · 03/10/2017 06:55

With that amount of money, I would definitely consider clearing your mortgage. Why keep paying interest on it if you don't have to? Once you have your house secured, then whatever else happens to you, it is an asset that you own outright.

Then I would also decide to do something I have always wanted to do - a trip abroad to see something amazing, or somewhere I've always wanted to go but not been able to afford.

After that, I'd want to invest a large amount of it too - make sure you IFA is registered with the appropriate professional body - www.fca.org.uk/consumers/finding-adviser this will help you.

Notso · 03/10/2017 06:55

We are due to get a similar windfall soon. Plans at the moment are to pay off mortgage and build a house with a view to selling that in a couple of years and building another house. As well as a big holiday, and putting some away for the children.

YerTiz · 03/10/2017 07:00

You can find an IFA here: unbiased.co.uk

YerTiz · 03/10/2017 07:01

Click link! www.unbiased.co.uk/

user1499169579 · 03/10/2017 07:19

Maybe their is an organisation like this bear you?

www.quaker.org.uk/our-work/our-stories/martha-house

You could buy a house to help with their work for a decade or so. After which it could be returned to you.

user1499169579 · 03/10/2017 07:20

Near you?
Not bear.

user1499169579 · 03/10/2017 07:22

marthahouse.wordpress.com/about/

LakieLady · 03/10/2017 07:27

I'd buy a house in Cornwall and rent it out for holiday lets.

eddielizzard · 03/10/2017 07:41

here's what i would do:

  1. pay off mortgage (50k)
  2. buy premium bonds (40k)
  3. ifa invests 120k for you. don't tell them you have more than that - they will want to invest it for you but you must never put all your eggs in one basket. that INCLUDES THE PROPERTY MARKET and AN IFA. don't buy another property.
  4. buy physical gold with the rest. i don't mean a gold etf. i mean actual gold. you can keep it in a safety deposit box at the bank. gold is low at the moment. it may go lower but it will never lose it's intrinsic value.

go to [[http://www.goldline.co.uk/gold-bars.page tony baird]] (bullion dealer) for the gold. he sells gold bars from 7k upwards.

LaughingElliot · 03/10/2017 07:41

I’d clear mortgage, get any home maintenance done, blow a little on travel, and make some investments- a mix of term deposits and property.

Blokesworlduk · 03/10/2017 07:47

Love some of the advice on here! Get an IFA that has been verified and recommended.

For that sum of money you should pay 1%-1.5% up front and an annual % (usually 0.75%) for them looking after it and meeting with you regularly to review matters.

Time in the market is the biggest risk reducer of all so assesss your risk tolerance with them and take it from there.

Buy to let us illiquid, costs a lot to set up (stamp duty extra 3%) and is fraught with problems. As you don't actually need income yet, this type of investment doesn't really make sense.

An ifa should also be looking to absolutely maximise your pension contribution as part of the solution.

Blokesworlduk · 03/10/2017 07:49

By the way, those advocating paying mortgage off. If the interest rate is 0.75% as some are, there is little need to do this currently. If you can earn more on an investment than you pay in interest on a mortgage then it makes more sense to do the latter.

Jasminedes · 03/10/2017 07:52

I would use it when I retire to travel or buy a holiday home, and preferably to retire earlier than planned if I could.

thegirlupnorth · 03/10/2017 07:54

Buy a holiday cottage, use it and rent it out too. I regret not buying property when I had the chance.

BikeRunSki · 03/10/2017 07:57

Pay off mortgage
See an IFA

mumtri · 03/10/2017 08:00

I'd sent £1,000 to everyone that has commented on here so far.... maybe £2k...

Ha, just joking

I'd decide:

A) invest in current property (clear mortgage, action ANY improvements, repairs needed)
B) BTL (know you ruled out just listing options)
C) Second property somewhere, possibly with agency to take full care and let during unused periods
D) Save 'safely' I.e. Bank(s) premium bonds etc
E) lower risk (stocks n shares)
F) horse #3 in the 3:30 at ascot (not a good idea!)
G) travel, take a sabbatical and travel
H) buy gold (or diamonds)
I) save it and retire early
J) fund charitable activities ( I.e take time away from work and give your time to worthwhile causes, someone I know used to do this for three months (separate) across each year, using savings to 'pay themselves' but also allowing them to remain 'current at work'
K) donate to charity
L) a mixture of any above

You could just add/ cross off from the list above (whilst drinking champagne and eating caviar) and see what your left with?

Also is there something you would do if you had say £1m? What would that be?

Cookiesandcake · 03/10/2017 08:03

Share some with me since me and the kids need to move haha. Seriously though once you've bought what you want and paid off what you want investing some could be a good idea

5rivers7hills · 03/10/2017 08:09

Buying property isn’t the money spinner people seem to think it is - also it’s actually quite a lot of hassle. You can’t just sit there and collect £200 and pass go.