What to do with 25k

Bassmansam said:
I’ve been told a couple of years ago i’d be getting the money so i’ve already thought about it a little bit but no concrete ideas.

It doesn’t mean i’m not upset about him being ill. We have a good relationship and i’ll be really upset when he does go, i hate seeing him in hospital l as i know he he hates it. But its the best place for him at the moment.

The full reality of the situation hasn’t sunk in yet but it will do soon.


But at the same time i can’t help thinking about what i would do with the money. If that makes me a bad person then so be it.
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You're being perfectly reasonable and sensible. People judging you on your relationship with your family is frankly laughable as they have no idea on the situation. I've done a will and already planned what I'll be giving to my kids I update it periodically so it stays relevant. It's part of life it doesn't have to be morbid or selfish or greedy. It just means that when you're too ill to make decisions rationally people know what they will inherit. Everything I do in life now is to help my kids have the best future they can. I'm sure your grandfather feels the same way. Although I am sad to hear he is ill :(

Personally I'd clear any debts I have keep a little for holiday/frivolous spending. And the rest would go into my pension especially at your age.
 
Malt_Vinegar is now off sick fo a few days with RSI to his post delete finger.
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Bassmansam said:
@ultralaser But my grandad told me he would leave me money a few years ago. It’s not come out the blue
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I think had you made that clearer in the OP, or even left out the bit about your grandad entirely, you'd have got a more helpful response.

I don't think there's anything wrong with talking about inheritance before you receive it, but it can come across a bit crass depending on on how it's approached.

Informing someone of of the amount of inheritance before they get it could result in very different outcomes depending on the person. If you're switched on, you will do your research and can make informed life decisions (e.g you might sacrifice your pension in the short term to get on the housing ladder now, knowing you can top up your pension later when you get your inheritance). On the flip side, you might continue spaffing your salary up the wall and have fun because you know you're getting some money down the line you can fall back on.

My dad has already given me and my brothers a chunk of our inheritance as he felt that coming into a large pot of money when you're in your 30's will be a bigger help in life than receiving it in your 50's. That enabled us all to get on the housing ladder earlier in life than we would have done otherwise.

He did have the proviso that any money we got early had to go on a house (or paying down the mortgage), otherwise we'd have to wait for it.
 
I really can’t see why some people are losing their **** over this thread.
The OP knew what he was getting and I’m assuming just wants some sensible advice on what to do with it.
When my parents sadly pass I’ll inherit a huge amount of money + property, and we’ve discussed face to face what I’ll do with it*




*coke and hookers
 
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So many deleted posts O.o

Sorry to hear of your loss @Bassmansam

I recently came into money, not inheritance though and not as much as £25k. For ideas, I did the following:

- replaced my ageing boiler and radiators, and added Google Nest
- got a TV for the first time ever! 65" Philips. Also a TV unit + satellite dish installed
- a couple of UPSs
- Dyson blade-less fan
- kitted the house out with smart plugs
- Samsung Galaxy Watch4 and a Samsung Tab S8 Ultra
- new sofa from DFS, but not a corner sofa, sorry GD! :p

So a few essentials and a few luxuries here.

I'm using the rest of the money to over-pay my mortgage while it's still fixed at 2.79% (until 2026).
 
JonRGV250 said:
I really can’t see why some people are losing their **** over this thread.
The OP knew what he was getting and I’m assuming just wants some sensible advice on what to do with it.
When my parents sadly pass I’ll inherit a huge amount of money + property, and we’ve discussed face to face what I’ll do with it*


*coke and hookers
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There's nothing wrong with wanting to make the most our of any money left to OP it's a good way to respect his granddad who worked hard to save it but the fact he's not even dead yet and all the OP can think about is spending his little windfall feels distasteful, narcissistic and insensitive to many of us who would much rather have a grandparent then some extra money.

On-topic, if you have one then my advise is pay it off against your mortgage. With interest rate going up and up now's the time to be taking advantage of cheap money.
 
Freddie1980 said:
There's nothing wrong with wanting to make the most our of any money left to OP it's a good way to respect his granddad who worked hard to save it but the fact he's not even dead yet and all the OP can think about is spending his little windfall feels distasteful, narcissistic and insensitive to many of us who would much rather have a grandparent then some extra money.
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I’m sure the OP would rather have his grandad stick around rather than the money, but as he’s said in the first post, he sadly isn’t going to be around much longer.
Personally I don’t find it distasteful at all, but that’s not to say others won’t.
It’s not as if he’s planning on wasting the money or shouting about how wealthy he will be soon.
Maybe they’ve already spoken about the OP spending the money?
As has already been said, he could have worded his first post a little better.
 
bimbleuk said:
Debt
Mortgage
Pension
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Sorry to hear about your grandad - great age and many stories to tell I guess.

This for sure ^^ . Debt would incur the most interest charges so is always worth clearing. Capital repayments on a mortgage would reduce interest and future repayments. Pension is a great way of clawing back tax, you can dip in tax free when you are 55, providing tax rules don't change. IMO, may be your grandad would have wanted you to have a bit of fun, so maybe use the money to see a bit of the world.
 
Freddie1980 said:
There's nothing wrong with wanting to make the most our of any money left to OP it's a good way to respect his granddad who worked hard to save it but the fact he's not even dead yet and all the OP can think about is spending his little windfall feels distasteful, narcissistic and insensitive to many of us who would much rather have a grandparent then some extra money.

On-topic, if you have one then my advise is pay it off against your mortgage. With interest rate going up and up now's the time to be taking advantage of cheap money.
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He is 95 and does not want cancer treatment, of course i want him around for longer but it is what it is.
My nan died 5 years ago and he is very stoic so no one knows how he has really been coping over those 5 years although he had joined a few social/walking clubs so he did still have a bit of a life. But i don’t think he is up for a cancer battle at his age and that is understandable.
 
Bassmansam said:
He is 95 and does not want cancer treatment, of course i want him around for longer but it is what it is.
My nan died 5 years ago and he is very stoic so no one knows how he has really been coping over those 5 years although he had joined a few social/walking clubs so he did still have a bit of a life. But i don’t think he is up for a cancer battle at his age and that is understandable.
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only live once

boats and hoes.
 
Sorry to hear about your Grandad, but as you say 95 is a good innings. If he has told you you are getting this then maybe he would like to know what you have planned and if I was him I would be wanting you to tell me what the fun thing you will do with the money as well as the sensible things. I would want you to at least do one holiday with the inheritance and tell me about it before I was to pass. I would also hope that it would give you some stability in the coming years.
 
Bassmansam said:
@ultralaser But my grandad told me he would leave me money a few years ago. It’s not come out the blue
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Often people do some silly things when they receive money maybe even more so if it's not expected.

Best to be prepared and not ignore the fact our parents, rellies etc. will pass on. I'm almost managing my dad's finances on a weekly basis now though he does have a good financial advisor for his pension investments.
 
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