Large sum of money to invest

Jimbeam3678

Jimbeam3678

Jimbeam3678

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Hi just after a bity of advice from intelligent money people:)

Now my mam has come into a large amount of money 200k +

Now coming from a older generation she doesn't really want o play the stock market :p etc etc.

just want to put in a or several saving accounts whichever works out best.

Now I have been on moneysupermarket etc etc . just wondering are there any pifalls to look out for as this money has to last my mam long enough to live off for hopefully many years to come :)

Would really appreciate any advice I only have knowledge of how to get out of debt never had any money to invest :p

Thanks again
 
high interest bank accounts.

spread it over 2 banks to save having all eggs in one basket.

rates will change depending on how much you have deposited.
 
I would definately get 30k of premium bonds in her situation, potentially high returns with no risk and prizes are tax free. Then put the rest in high interest savings account(s) and an ISA.
 
With 200k I'd go and see a number of independent financial advisors and wealth managers. Tell them what level of risk she is happy with and take their professional advice.
 
[DOD]Asprilla;12176974 said:
With 200k I'd go and see a number of independent financial advisors and wealth managers. Tell them what level of risk she is happy with and take their professional advice.
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Yeah thats what Id do.

Tell them you want a low risk investment spread. The money will be safe and you will still get returns better than a savings account at a high street bank.
 
Premium bonds or split into 6 savings accounts with different banks, so if they go **** up (a slight possibility) all the money is guaranteed

Crimefighter said:
Yeah thats what Id do.

Tell them you want a low risk investment spread. The money will be safe and you will still get returns better than a savings account at a high street bank.
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Except at this amount of money is it low risk after all only part of the money would be guaranteed if the bank went under?
 
As above, speak to some financial advisers to see what the options are.

Alternatively, I have a bag of magic beans that I can sell to your mam for £200k
 
ste_bla said:
Premium bonds or split into 6 savings accounts with different banks, so if they go **** up (a slight possibility) all the money is guaranteed



Except at this amount of money is it low risk after all only part of the money would be guaranteed if the bank went under?
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bank it all with smaller banks. hope they then get bought out by a big bank, then you'll get paid x amount once they get bought out :D

had £200 in a Portman account a while back, and got a cheque thorugh when they got bought out by Nationwide :D
 
The only advice to take from here is: GO TO AN INDEPENDENT FINANCIAL ADVISER.

What you are asking is what these people do professionally and are regulated by the FSA etc.
 
split it between a few savings accounts. don't buy premium bonds as they are a rip off. use up her tax allowance on isa's and ns&i certificates. best to put 10% or so in physical gold (bullion coins).
maybe think about buying property in 3 years or so.
 
Different high interest savings accounts, no more than 35k per bank and make sure it is a well known, FSA registered organisation.

Premium bonds are a good idea possibly but it depends on her current income and current tax band. How much does she earn if you don't mind me asking?
 
id also say property. its a buyers market now and you can snap up a bargain

rent it out, so you have the income from the rent and long term you will gain capital appreciation
 
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