250k inheritance to spend but on what??

[TheMuminator2]

Came out of the blue from a relative we hadn't seen since we were young. Am tempted not to spend a penny and just invest

@anxiousbean lots of areas in South Coast you can !

Charity, at least 10% - if you have no real need for it now, which you don’t seem to, then help others. There are many small, local charities or community groups who would appreciate the small- ist amounts.

My advice: settle any debts, invest the remainder after maybe upgrading cars or stuff like that, and maybe go for a nice holiday. Happy for you!

Oh, I love spending windfalls in my head.
I would spend -
10k on a luxury cruise for my family
20k on a new car
150k in savings for my DC for house deposits
Save probably in bonds
That was good.

life live find a good financial advisor!
The account we got with santander had certain stipulations, you had to hold a certain account, you had to invest by x date, it had to be branch/online etc etc, there were hoops to jump through..... But ultimately the banks / investment firms want your money and to tie it up.

If you are going to donate some to charity contact the solicitors who dealt with the estate first if inheritance tax was paid. There may be a rebate of inheritance tax. It's a very simple thing to do and could massively boost the amount given to charity.

Sensible head:
buy a house, invest for children's university, look after my mum's old age, pay more into pension, donate to charity etc.

What I'd actually do:
put it in a high interest ISA for a year while I arranged to take a year or two off work, take the children out of school for a year or two and plan a full round the world trip, visiting every single country that is safe-ish and seeing everything worth seeing.

Stop showing off your wealth

Bloody hell I can’t even afford a holiday - so I vote spend it on me

Is this real....or are you a journalist?

Honestly,
I’d give half to women’s charities and half to my stockbroker and tell her to hold it till post Brexit sterling falls then buy bargain UK stocks.

(Only if I didn’t need it for the next 30 yrs though)

Bumblebeesmum If you’re an adult human female then your holiday fund counts!

#irregularegular
Your mum sounds lovely!

Personally I wouldn’t give any to charity but I would give out to friends, family even acquaintances and work colleagues. I would much rather see my money making a difference than in getting swallowed up in a big corporation.

You could ask some strangers on the internet?

Ì can't believe you don't know what to do with it! You must be well off to not know especially with children. I presume you have a mortgage. Pay it off is my advice

I would buy a house outright
Clear debts
Intense driving lessons and a car
Some aside for DS for a deposit
Small donations to Samaritans, a local Community Farm, a local Homeless Charity British Heart Foundation and SOFT UK

My friend did have this amount. She bought a 2nd home did it up and sold it making another 100k. She keeps buying houses with the savings. Sells then banks the profit.

My dad's friends girlfriend inherited £4000000. She lives in Switzerland and is a lawyer. Her dad died. She upgraded her apartment in Geneva and literally left the rest in the bank.

Personally I wouldn’t give any to charity but I would give out to friends, family even acquaintances and work colleagues. I would much rather see my money making a difference than in getting swallowed up in a big corporation.

^that.

I would use it for myself but definitely not charity. If you must do charity I would do my own charity project in Africa or somewhere that needed it. But really charity begins at home and I would upgrade my home and pay off all debts . I’d maybe give 5 percent to charity as a thank you to the universe.

Deposit for a house somewhere hot, treat your parents and save the rest for kids education, and help a friend or family in need.

I would use it for myself but definitely not charity. If you must do charity I would do my own charity project in Africa or somewhere that needed it.

Africa is a massive continent you know. I'm sure you know the ins and outs of all the complexities of issues in each country there (more, say, than African NGOs or charities that have worked there for decades) But not all charities are 'big corporations', they're easily researchable and I'd rather donate money to those with expertise than be a white saviour going over to hand out blankets for a day or something.

Charities do incredible work.

Personally I wouldn’t give any to charity... would much rather see my money making a difference than in getting swallowed up in a big corporation

You do know not all charities are big corporations? I mean, you're still fully entitled to not give, it's your imaginery inheritance, but it's true. A local homeless charity can make huge differences in your own town, as can a women's refuge. I'd donate to Samaritans because I volunteer for them and I'd know where the money is being spent.

How about a game of cards, OP?

This has also happened to us, although we're a bit older and it was due to the loss of immediate family.

We've paid off the mortgage, and will move soon, into a home of similar value so will remain mortgage free.

We've given some to the children - not a huge amount but enough for them to do things they have wanted for a long time.

We have bought property abroad, somewhere that has given us a lot of lovely house and land, for not an awful lot of money. This has been a wonderful investment in terms of quality of life. It's a resource for the whole family to use whenever they want, and we will spend lots of time there. The house probably wont increase much in value, but it wasn't bought with that in mind. If we need to increase our income at any point, we can rent it out. It will also be something to pass on to the children.

The last thing we bought was a motorhome. It has been life changing. The freedom it offers is incredible, and although it used up a hefty chunk, we have been to some incredible places. I'd really recommend it and just thinking about it is making me smile.

We have also given gifts to charity and also to people who were particularly important in our family members' lives.