£50k plus to invest

[FlorenceBoot]

Recently had an inheritance which allowed me to pay off mortgage. I've got £50k left over to invest for growth.

Also £1k per month to invest now free of mortgage payments.

I'm 60, not much in way of pension and no other savings.

Any advice would be much appreciated as I don't think I have enough to interest a financial advisor.

Go through the flowchart at

ukpersonal.finance/flowchart/

Consider what money you need to keep accessible, what can be tied up short term, what can be tired up for 10+ years.

Until age 75 you can pay into pension and get tax relief, even if you do not pay tax.
You can pay in up to £2880 per tax year.
If you have earned income, such as from employment, then you can pay in more - depending on your income.

Pension vs ISA. As you are age 60, you can access a personal pension. Pension usually wins over ISA in terms of tax efficiency, due to what you pay in getting tax relief, then some can be taken tax free and some can be taken using your personal tax allowance.

Taxcafe has a book called Pension Magic if you want to learn about pension tax efficiency. If you want an overview, then there are videos such as: m.youtube.com/watch?v=y-4s1wqwQ7k

Depends how much risk you want to take really?

Not much risk.

Can tie up for 5 years.

Forgot to say thanks to @nannynick

Day off tomorrow so will look at those resources.

Iv just become a millionaire where do I invest my money please