What to do with £75k?

ivrytwr3

ivrytwr3

ivrytwr3

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Joined
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Hypothetical, you have come into £75k, but actually want to be sensible with it! You don't need the cash for another 7 years.

I was thinking:

£20K into own S&S ISA and same again into wife's.
£20k into Premium Bonds.
£10k family holiday.
£5k emergency fund.

What S&S ISA though? I read you guys talking about Vanguard, but no idea about this sort of stuff :)
 
Basically what I'm would do, maybe 20k off the mortgage instead of premium bonds.

Believe Trading212 is popular among the forum ATM for S&S ISA.

Vanguard introduced higher fees in the last year or so which made it less attractive to use
 
I concurr with the above that is sounds like a sensible approach.
I'd personally stick with the premium bonds rather than mortgage until April next year; then take that £20k out of the premium bonds and into an ISA (if we're still allowed to).

I saw Vanguard reduced some of their fees recently. Maybe this a response to T212 ?
 
If you have a mortgage, get as much of the principal paid off leaving the £5K SHTF fund.

No mortgage or debts? Don’t need the money for a new car/hip? Put £70K into a medium risk 5 year portfolio and £5K into the SHTF Fund.
 
Bear said:
What about the missing £20k?
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Or should that say resting in his wifes account?
 
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ivrytwr3 said:
Yeah, but what and with who?

No idea where to start with investing.
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This may help. I quite often this guys videos, explains things quite well but does go quite heavy with the finance talk so if you're not sure on some terms it might come across as a bit confusing. This video does give a broad overview of some of the main investing platforms though.

 
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