How would you invest £50k?

[springruns]

Just that really, I’ve come in to some money just over £50k which id like to invest.
we have a £240k left on our mortgage with affordable monthly payments so not looking at paying a chunk off. we have adequate savings and a large amount of disposable income each month so no holidays, home renovations or new cars needed.
We live North Yorkshire so investment property in the north east is an option but we are both higher earners (£70k each) so would 40% tax on an income from that unless we paid it in to our pensions.

£50k invested at 37 with cumulative interest of 7% (I'm 42 with 4 diff private pensions that have all outperformed that rate of return over past 15yrs) at age 60 it would be worth £237k. Which assuming pension rules aren't changed, or if they are they're reversed by the next government, you could take interest free as a lump sum.

This isn't correct. You can take 25% of your pension pot as a tax free lump sum and that 25% is capped at £268,275. That doesn't mean that if you have a pension pot of £237k the whole of it would be tax free. Only 25% would be tax free.

It isn't about jumping on you but premium bonds offer a very poor ROI unless your'e extremely lucky and win a big prize (but that is just a lottery) and are very likely to lose money due to inflation. The only reason PBs make any sense from an investment perspective is if you are a higher rate tax payer and you have maxed out your isa allowance, your tax free savings allowance and your pension.

I know you said no to mortgage....I would just add I am 8 years older than you and we had 2 similar lump sums which we put in and the savings in interest were MASSIVE. Now we have no mortgage and it is a joy knowing that each.month we can do what we want with our income (aside bills of course). It is the best feeling.

Imposssible to know what the rate environment will be at the end of your mortgages term (I think I read 2 1/2 yrs) but it’s certainly not heading for a massive decrease in the next year. As pp poster said, consider paying down and reducing the term. You can still access the capital longer term if you need to. If the money goes into your pension, you can’t access efficiently until 57. Having been a reluctant landlord for two years in the late ‘00, I’d caution against it. Despite the rental income covering the mortgage 4x, after fees and tax, the return was not worth the hassle. I’m currently 50/50 equities/short term bonds in my investments. So a little nervous about markets.