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Original poster

What would you do with 100k?

71 replies

Soerdu · 28/12/2023 22:06

Serious question although I'm totally expecting funny answers too.

What would you do with 100k to make the most of your future?

I'll add a brief poll but am looking for genuine answers.

OP posts:

Malarandras · 30/12/2023 00:17

I bought my house. It was more than £100k but that’s what I did with most of it. The rest I bought car outright, saved, bought some horses

and went to the Priory to fix my broken mind (my husband died is how I got the money, natural causes I should say).

caringcarer · 30/12/2023 00:21

Organise to go and see Boxing Day ashes cricket in 2025-26 with air fair, accommodation and entrance to many matches and give the rest to my kids split between them.

AlmostAJillSandwich · 30/12/2023 02:25

Buy a small home of my own and move out.

GoodlifeGlow · 30/12/2023 05:28

Based on your update I would pay off the mortgage, invest in an ISA for yourself, start savings accounts for your children.

However it would depend on approx mortgage amount and what kind of savings/pensions you have and if your children were left anything directly.

Bowbobobo · 30/12/2023 08:51

I’m just on the verge of receiving this amount after the death of my last parent. Mortgage/debts are already paid off so £15k on painting the house/replacing some windows, £50k into premium bonds and £20k into a cash ISA as tax-free, long-term, safe savings. Balance into my SIPP. My life hasn’t changed except for I feel safer and lighter, and I buy caviar if I feel like it. Thanks, mum and dad, but I’d rather still have you ☹️.

Fourcandleforkhandle · 30/12/2023 09:02

Pay remaining 18k left on mortgage
Pay back 15k borrowed from parents
Pay 7k back borrowed from Son
The rest to renovate my House nextdoor so Disabled Parents can move in.

SophiaElise · 30/12/2023 09:11

Home improvements
Holiday

Karwomannghia · 30/12/2023 09:14

Get the windows done and give the rest to my kids

deepsea9 · 30/12/2023 09:17

Do the kitchen, then pay the remainder off the mortgage.

Would probably book a holiday as well.

Familiaritybreedscontemptso · 30/12/2023 09:20

I’d put half away immediately for the dc - they’ve already got pretty decent savings as this is what we have done with any money we’ve had. For uni, house purchases etc…general adult life. Not money they will have independent access too but money I can use to benefit them as adults.

There’s a couple of house bits I’d like to sort - we can do them ourselves but that takes ages cos we’re busy so I’d just pay someone to do it for us. That would probably use around 10k.

10k towards a holiday we already have planned to mean budget just won’t have to come into it.

Save the rest and probably pay it off the mortgage when we remortgage next year.

IncompleteSenten · 30/12/2023 09:24

I'd put 20k into an ISA now and a further 20k in the new financial year, I'd put 20 into ns&i, 20 into a savings account at my bank and spend 20 on home, holiday and treats.

OddBoots · 30/12/2023 09:24

Sorry to hear about your loss.

If you have a recent disability then is there a chance you will need to claim means tested benefits? If so that may influence your decisions as there is a maximum you can have in savings and you might need to prove you have not deprived yourself of assets.

NameChangeAgain23 · 30/12/2023 09:40

I’d get a new car and a new kitchen. Would save the rest in a high interest account

NameChangeAgain23 · 30/12/2023 09:42

In your situation. I’d pay the maximum amount I can off the mortgage without incurring fees and then invest the rest in a high interest account. I’d maybe keep £10k I. An easy access account and tie the rest up June with when mortgage is next up

FrillyGoatFluff · 30/12/2023 09:55

I had this exact scenario due to an inheritance.

I took £50k off the mortgage. I did this amount as DH was able to match it so we stayed even on input. Fortunate to have a manageable mortgage, so decided that we'd prefer to keep payments equal, rather than putting all my eggs in one basket, so to speak.

Paid off my car (£10k), paid off all debt (£2k) had new carpets upstairs after a renovation (£3k). Spent £4k on a holiday.

Im self-employed and was only eligible for statutory maternity pay, so allocated £20k to taking a year off with my daughter when she was born. Meant I was able to enjoy being off with her - she's the only child I will ever have and wanted to enjoy every second without worrying about money! Didn't spend it all, and put the rest into premium bonds for her when I started work again.

I put the rest into premium bonds for me and enjoy the rush on the 2nd of every month.

IbizaToTheNorfolkBroads · 30/12/2023 10:25

Pension

Paid of the mortgage a few months ago

Dashel · 30/12/2023 11:36

I would get advice on how best to use this if you are needing to claim means tested benefits.

Personally I would clear my mortgage if I had one or pay of debts first, then some into savings and then pension.

Im ok with my savings so I would use some of it to do something meaningful for a small charity I’m passionate about then split it with DH into pensions with some thing to remember the person by if it was an inheritance. If it was a lotto win, I would pick a holiday that I really wanted to go on but DH wasn’t particularly keen on.

Augustus40 · 30/12/2023 11:39

20k to groom up the house. 80k high interest investment for retirement.

Original poster

Soerdu · 30/12/2023 16:59

Dashel · 30/12/2023 11:36

I would get advice on how best to use this if you are needing to claim means tested benefits.

Personally I would clear my mortgage if I had one or pay of debts first, then some into savings and then pension.

That's probably a good move. I'm not currently claiming means tested benefits but may have to in future years as the disability is likely to get worse with time.

OP posts:

coolkatt · 30/12/2023 17:10

i'd buy a flat or wee house to rent out. future investment.

Aroundthewaygirl · 30/12/2023 17:14

I’d fix my house up. Then buy myself a fancy gift then save the rest.

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