What to do with £10,000 pounds

Shifter_Hull

Shifter_Hull

Shifter_Hull

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Hi i received this morning a cheque from my aunt for £10,000 pounds
Sadly its what my uncle left me in his will :(
he died on the 27 th September and now out the blue i didn't know anything about it a cheque for £10k
i have a good job and earn over £45k a year
i have no ideas i own my house outright paid of all Mortgage last year 2006

i also have ready cash that i can access if need any money

so i ask what is the best way to invest it
i am 40 years old
and i planning on retiring when i 55
so anybody got any good suggestions
i already got the max amount in ISA
 
i have a newish Car a have been with the wife in Nov 2006to the far east for over 4 weeks Singapore and Honk gong
so i a bit stumped i give to charity every month out of my salary
i don't want to waste it on casinos
 
Fly around the world and avoid the typical destinations. Include places like Greenland, Siberia, Alaska, Tasmania, Easter Island etc...

It'll soon see you rid of your £10k (especially Greenland) and will be the experience of a lifetime. I hope to do it if I ever happen to get a lump sum like that.

You could do a very nice deed and give me some of it.
 
Buy This Westfield, and at 10k it's a bargain!
RUSHPOOLwest007.jpg

Don't look back, just buy it.
 
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On second thoughts, thats enough money to get you a PPL (Private pilots licence). Do you fancy taking up flying as a hobby?
 
I'm wondering if this is a willy waving thread... since when did anyone actually require the help of others to spend money?

When was the last time a good friend actually came to you with a problem that seriously weighed on his heart that he just didn't know how to spend his money? It's a hard life.
 
Are you looking to spend it or invest? Do you have a wife/kids? If so buy them something they have always wanted :) If you are looking to invest it then speak to your accountant/financial advisor and get some proper advice :)
 
if you are in the position you are then surely you have some sort of savings knowledge, just put it with the rest and let it grow.

failing that, get the misses pregnant, that will clear the £10k quick enough.
 
lol no i just never get in to debt the only debt i ever really had was my Mortgage
and i had to work hard to where i am now
never been out of work in my entire live
and now all my hard work is final paying off
i have credit cards and for buying things online
but i pay them off every time the bill arrives

i not willy waving at all
just want to advice
 
If you want to invest/save it, speak to your bank or an IFA about suggestions, risks etc.

Alternatively, if you're sorted and protected anyway (ie you have a decent rainy day fund), there's nothing wrong with doing something that you want to with it, that doesn't mean wasting it, but think carefully about it. As nice as money is, you can't take it with you and the best laid plans often go wrong (as both my parents and late Grandparents have experienced), there is a good argument for enjoying things while you can, because you may not be able to enjoy it the same later on.

It's always a tricky thing though, and not an easy decision to make. Ultimately it's your choice.
 
i know the property market is a bit of a maze at the moment but i believe thats were the money is, sell it when your 55 and use the profits to enjoy your retirement.
 
Buy some VCT's perhaps? From what i remember you can whack upto 10,000 into a property VCT. Relatively low risk tax free and there when you need it.

Cant really ask for more?

If you fancy a bit of higher risk with the potential to make huge gains use the 10,000 to put a deposit on a house in a new upcoming area of newly built houses, once they're all sold sell the house you should make a killing.

Ill list below what i would invest in and what i would not invest in. Assets make you rich and liability's make you poor.

Assets:

Stock
Bonds
Income Generating real estate
Mutual Funds
VCT's
 
dsb said:
i know the property market is a bit of a maze at the moment but i believe thats were the money is, sell it when your 55 and use the profits to enjoy your retirement.
Click to expand...

yeah you could always buy a place & rent it out
 
Morba said:
if you are in the position you are then surely you have some sort of savings knowledge, just put it with the rest and let it grow.

failing that, get the misses pregnant, that will clear the £10k quick enough.
Click to expand...


Yes i have a good knowledge of Savings accounts but was asking for a little advice about things that i may of missed
Getting the Mrs Pregnant is a big no no sadly she had ovarian cancer so had all removed
but we had children
 
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