What should I do with 150k

[crackadawn]

My dad sadly passed away earlier this year. I am an only child and he has left his house to me. Probate has just completed and I am putting the house up for sale which is worth about 150k.

i am self employed and dont have a pension.

i am wondering what to do with the money, everyone has an opinion investing / buy a rental / buy a business rental / put in pension.

I would really appreciate some advice.

IFA s the go to MN answer are expensive and more useful if you have £1million plus to worry about.

The aboveis good advice - AJ Bell do an easily set up SIPP. Within the SIPP invest in something like Vanguard world tracker fund which went up 13,19 and 15% over the past 3 years and spreads risk as widely as possible. If you balance your annual SIPP deposits against your taxable income (after your tax free sum) then you'll pay no tax for those years - effectively increasing the value of your inheritance by 20% in tax savings.
Keep any balance while investing in your SIPP in a cash ISA, stocks and shares ISA (also easily set up on AJ Bell and again invest in a tracker fund) and the highest interest account you can find ( use money saving expert to find)
Good luck

It's not even for those people anymore, and anyone already in it is looking to get out.

I’d put the maximum in a pension, and plan to do the same for rhe next few years until 100 000 has been put in the pension, I’d spend 10 000 on a holiday or memento to remember your dad, I’d put. 30000 in premium bonds + possible 20 000 of the money waiting to go in the pension, and I would use the winnings from the premium bonds to drip feed into a stocks and shares ISA. Depending how much you can put in your pension, you may have a few years where you have to store some of the hundred thousand I would do a mixture of cash ISA. And high interest savings account. The remaining 10,000 I would keep in an easy access savings account and I would use it just to make my life a bit easier ie if I need a new winter coat I’d buy a slightly better one than I usually would et cetera that way you’ll have lots of things around the house that will remind you how your dad’s made your life better .