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

OP, this post is in really poor taste.

Please ask for it to be deleted.

I'm in the fortunate position of owning my home and having savings but I would never post a thread like this.

You don't need this thread at all, there's nothing here that your friends or family can't tell you.

I know people will say MN is for everyone, and it is, but to rub your fortune in other people's face is beneath you, just stop.

In this order
Pay off mortgage
Husband give up work (i’d Still work)
Go to Michelin star restaurant to celebrate
Drink fabulous wine
Book amazing holiday for extended family
Whatever’s left in my kids bank account.

Pay off mortgage for sure, it would be a no brainer for me. Anything left, I'd stick into Premium Bonds, and maybe give each family member £500 to spend of whatever they liked.

10k on a holiday of a life time. Then boring mortgage, kids future, pension type stuff.

A third for the past - pay off mortgage, car and debts, including gifts for those who have helped you in the past
A third for the present - holidays, home improvement/move, private school, cosmetic surgery... whatever will make you happy!
A third for the future - pensions and investments ready to help your children when they enter the adult world.

Start pension funds for your children. With cumulative interest, it will be worth a fortune and they can retire young.
A rental property to top up your pension, and then sell for your children to have a good deposit on a house each.ay off mortgage.
Bucket list holidays whilst children still at home.
University fees.

If you haven't got a house, buy one.
If you've got a mortgage, pay it off.

If you don't need to do either of those things, think about spending some on personal enrichment. Take a degree in something you've always wanted to study purely for enjoyment, not career purposes, or something like that. Or take a sabbatical from work to do something/go somewhere you've never had the time or money for before.

Start your own business, we did that 10 years ago with an inheritance and is the best thing we ever did. Has given us a lifestyle and future we never believed would be possible.

Are you just daydreaming, OP?

I wouldn't leave anything to large charities, but I would find a very small one and make its day.

You're not on a really high income (I'll get shot for that on here) so I would save most of it, after paying off mortgage and other debts. One lovely holiday would be great.

I certainly wouldn't spend it on private schooling - you would have enough to move to an area with better schools.

I wouldn't buy a property (to let out or to live in) until we see what's happening over Brexit.

My outstanding mortgage is just shy of £200k so if it were me I’d pay that off and spend the rest on holidays.

Or maybe I’d buy a second property as an investment with the remaining £50k. As. PP said to provide an asset and an income in retirement.

Yep probably the second property once I think about if for more than 5 seconds.

You lucky buggers.

Don't delete your thread. I am genuinely happy for you.

Sorry if it offends some,

Mortgage freeeeeeeee fantastic do it!!!

My house is a 3 bedroom townhouse and cost under £170k so depending where OP lives she could get a nice house outright. For me I’d oaynpff the mortgage and car and husband could give up work.

I'd pay off mortgage, pay off a chunk of ds2's mortgage, new van and rented flat for ds1, holidays, new cars for me and dp. Then I'd put the rest in premium bonds.

If you invest, make sure it's in something rock solid, with zero risk.

You didn’t ask for it. Enjoy the windfall donate a bit

M4J4 I disagree that it's in poor taste. Nor is it rubbing people's nose in it.

I have only been able to have 1 child - I don't begrudge others who have more.

My mother died when I was a tot. I don't think posters who discuss their Lovely relationship with their DM are posting in poor taste.

I'm refurbing my kitchen on a shoestring. I don't think posters who are discussing their granite worktops are rubbing my nose in it.

I inherited a similar amount of money and had no hesitation paying off my mortgage with it. Dh wasn't so sure, but it was my money so I had the ultimate say. I'm so glad I did as there have been many times in the intervening years when money has been tight and I have wondered how on earth we afforded the monthly repayments before.

Buy an x-bed flat for my children so they never, ever, ever become homeless.

Thanks @Positive for being.....positive. invesment property could make sense......am thinking where in the world to visit too :) always fancied Antarctica

We rent so I'd buy a house.

If we owned our house I'd build an extension and redecorate throughout. Book a couple of holidays. Then invest a chunk for my children, and a chunk for when we retire.

I’d pay the mortgage off and put any leftovers into an isa.

Wow, what an amazing gift from your relative OP.

How about:

50k mortgage / home improvements

50k set aside for kids to go to uni without too much debt

50k in the bank / for retirement

50k to treat yourselves

50k to treat family / friends / give to charity?

If I had a mortgage, the first thing I would do is pay it off.

If,a after that, I had some left over I would use some of the money to pay for either a once-in-a-lifetime holiday or a decent nearly-new car and invest the rest.

How boring am I?