Hello, I am requesting advice for my mother who is going through a messy divorce. The latest offer has arrived before court next week of 65% of the matrimonial home and no pension share. I think this is tempting as it will see a cash lump sum of ~£350k, and an end to years of struggle and mental and emotional toll.
My question is - how is best to invest this money so it lasts? Please note my mother has no pension of her own. We live in the South East. Property is expensive though we should be able to get something for this. My mother is 62 and currently working full time to pay for divorce fees. She is living with us whilst the divorce goes through so there is no urgent rush to buy a property.
- Should she invest the money and continue to live with us for a few years to increase the size of her pot?
- Should she buy a property and rent it out?
- Should she bank the money for a couple of years (interest rates are high)?
- Should she buy a property to live in?
Any help or advice gratefully received. We are also happy to pay for professional advice though unsure who to reach out to. An accountant? Financial advisor? Again, any recommendations for those gratefully received. Thank you.