£500k in the bank

[LandSeal]

What would you do with £500k?

Late 30s, no mortgage, no kids, no loans.

I think it's stupid to leave the money sitting in a low interest account but DH, whose money it is, is reluctant to do anything with it. He won't speak to a financial adviser and seems to think investing is as risky as putting it all on a three-legged horse at the grand national. I could cry! I've convinced him to buy some premium bonds but that's about it!

So I'm wondering what others would do with the money in our situation.

This encapsulates all my experiences of investing - pensions, bonds, various other things, all supposed to be safe (I am not a high-risk investor). I do have exceptionally bad luck, I accept that lol. But I'll never invest again - at least my money just depreciates, it doesn't actually vanish

Do you think he'd entertain the idea of letting you have a small amount, perhaps £5000, each year to invest? Selling it as a challenge, can you achieve something better with your bit?

@LalalalalalaLand123 But putting the money in very safe accounts does cause it go down in value in real terms, i.e. net of inflation. That's the whole point.

If you put it in very safe accounts you have the certainty of not keeping up with inflation.

If you invest prudently, e.g. in low-cost tracker funds, you have a good opportunity of at least beating inflation over a long enough period. No mathematical certainty, but a good chance.

So the question must be framed differently , i.e. must be framed keeping in mind the impact of inflation: are you willing to let your savings go down in value, because they won't keep up with inflation, just because you are scared they could go down even more if you invest? I know I am not but to each their own.

@ParentOfOne Yes, as I said, I am absolutely fine with my money depreciating in real terms, compared to the risk of losing massive chunks of it through investing! I have had exceptionally bad luck in the past (and I have seen friends and family lose a lot too), so I don't want to get burned again. I do earn a tiny amount in my savings accounts, so I'm not losing much through depreciation. And my capital is not at risk, as I can't afford to lose any of my capital.
But that's just me! Good luck with your investing.

@LalalalalalaLand123 I see. At least you seem to have made an informed decision; I dared mention it because many people do NOT appreciate the impact of not keeping up with inflation over a very long period

He obviously has a lot of mental blocks and hang ups when it comes to this money.

I follow a lady called Denise Duffied Thomas who wrote "get rich lucky bitch" and is about breaking blocks we have around earning money... she's mainly aimed at women but there must be a more male aimed one out there.....

We put 200k in a medium risk stock option in 2016
Even with huge crash after covid, it's now worth 280k and we have the majority of the funds ISA wrapped now and don't pay tax on that bit.

If it were up to me I would have bought property, but it's easier to liquidate this way if needed.

@WyldStallions You mean some kind of stock fund / tracker fund / ETF? I very much doubt you invested £200k into stock options www.investopedia.com/terms/s/stockoption.asp :)

I would upgrade my home
Invest around £50k in gold
Keep £200k for savings
Go on a few nice holidays

Sorry parentofone you are correct of course.
I couldn't be less interested in the technical terms but basically the bank guy invests for us in some kind of portfolio, with companies around the world.

@InFiveMins

Even if it's inheritance or saved before you came along, why is it seen as his money? You're married so it should be shared. I'd ask for half of it so you can invest your half.

@InFiveMins , if you had inherited (or saved, or acquired trough whatever means) half a million before getting married, would you give your spouse his/her half after the marriage?

Even if you did, what makes you think everyone else should?

Your way of thinking reminds me of this amazing stand up sketch by Eddie Murphy: "Get married, lose half".

Buy another property would be my advice. But choose your time right. But it's his money and you've said your piece so leave him to it.