What would you do with an inheritance of £60,000 to £100,000?

[Dahlia931]

I am inheriting some money (amount not known yet) and want to be prepared. What would you do with the money? Likely to be between £60-100k.

For £60k inheritance I would:
Pay off debts £5k
£20k ISA top up
£5k holiday
£30k pension top up

For £100k inheritance I would:
£90k Finish off my house refurbishment
£10k buy 20 - 22 carat gold jewellery when gold price dips and then cash it in 20 years time

@Dahlia931I received a similar amount. However, it was already invested so I didn’t need to make any decisions. It’s invested in bonds with Prudential. I can withdraw 5% of the capital tax free every year. That allowance rolls over each year e.g If I had £100k initially, I could withdraw £5k after year 1, or £10k after year 2. I view the money in the same way as you do. Over the years, it’s funded big holidays and home improvements, and is still worth more than the original investment.

Pay off outstanding debts
£20k in a ISA
£10k in an accessible savings account
Pay a chunk off my mortgage with the remainder.

I'm planning to move next year, otherwise I'd have a new kitchen and patio doors with it!

Any private pension should be on top of the NHS one, not instead.

Gold jewellery? There are better ways to buy gold. Jewellery costs more the the base price of the gold and doesn't hold its value well. It's also subject to capital gains tax.