What to do with £75k?

[aaronyuri]

Mmmmmm, i would rather it was doing something than just sitting in a standard current account.

I did edit my post to cover this off.

 

[Mr Badger]

All on black.

That's just crazy bad advice.

No red, definitely red.

Now we're talking.

 

[Dr House]

What do you suggest?

If your adjusted income is over £50,000 and you can afford to lock your money away until retirement, it’s worth considering putting some money into a SIPP. You’ll receive up to 40% of the income tax you’ve paid back in the form of tax relief.

Personally, I’m a big fan of market trackers. The reality is that, no matter how hard we try, even the best investors struggle to outperform the S&P 500 over the long term. I am still actively trading and I have been lucky to make good returns but it's just gambling. Once my Sipp hits a target I have in mind it's all going into trackers.

Check out some of this guy’s videos they’re well worth watching:

If your generally not used to have largish ish sums of liquid cash its tempting to splash out on a nice car or holiday but if you dont expect your income to go up a lot over the next few years your better of investing rather than spending it.

You can have some amazing holidays without going crazy, budget flights to cyprus, Croatia, Italy, Montenegro and modest hotels can be found for £100 to £120 per night. While it's not Disneyland and business class flights it leaves money behind to help secure your future a little better.

 

[robj20]

I'd pay off the mortgage and put the remaining into my pension, then reduce my pension contributions a little.

 

[arknor]

I'd just dump it all in single stocks and forget about it tbh (you shouldn't though if youve never dabbled in stocks)

10k for holidays sounds good though, could probably tour a lot of Europe for a month maybe or go visit some wonders of the world, just not the pyramids or aztec crap

 

[tamzzy]

alcohol
hookers
dubai porta potty

 

[radderfire]

A lot of it into a Stocks and Shares ISA. It's a case of choosing who to hold the ISA with. Trading212 is popular here because of the low fees, but there are various other companies, e.g. Hargreaves Lansdowne, AJ Bell, Interactive Investor.

Then it's a case of whether you choose the stocks or buy a fund. Personally I would choose stocks, but others prefer funds. Vanguard and VanEck are big fund providers.

There's this thread:

Trading the stockmarket (NO Referrals)

Has anyone else pulled their ISA ETF to just cash for now? If you are invested in global ETF they tend to be much more resilient than say an S&P500 ETF or individual stocks. If you compare something like Vanguards 80% Equity fund vs an S&P500 fund the crashes are much less in the former. Eg...

forums.overclockers.co.uk

which also has some long term advice amongst the degenerate day trading.

Use some of it to buy something that will make you happy.

 

[ivrytwr3]

A lot of it into a Stocks and Shares ISA. It's a case of choosing who to hold the ISA with. Trading212 is popular here because of the low fees, but there are various other companies, e.g. Hargreaves Lansdowne, AJ Bell, Interactive Investor.

Then it's a case of whether you choose the stocks or buy a fund. Personally I would choose stocks, but others prefer funds. Vanguard and VanEck are big fund providers.

There's this thread:

Trading the stockmarket (NO Referrals)

Has anyone else pulled their ISA ETF to just cash for now? If you are invested in global ETF they tend to be much more resilient than say an S&P500 ETF or individual stocks. If you compare something like Vanguards 80% Equity fund vs an S&P500 fund the crashes are much less in the former. Eg...

forums.overclockers.co.uk

which also has some long term advice amongst the degenerate day trading.

Use some of it to buy something that will make you happy.

Ah that makes sense now.

S&S ISA with Vanguard funds for the £40k - ty.

 

[subbytna]

Go get 6 months of emergency savings set up first if you haven't yet. The rest in your ISA

 

[Dr House]

Also trying to time the market is not the way to go, we are seeing record highs so if you do put money into funds / trackers so it over a period of time (cost averaging) as we may see pullbacks.

 

[ivrytwr3]

Also trying to time the market is not the way to go, we are seeing record highs so if you do put money into funds / trackers so it over a period of time (cost averaging) as we may see pullbacks.

Cash should be with me in Feb 26 - soooooooooo, i'll hit you up then for your advice

 

[Feek]

Screenshot-28 hosted at ImgBB

Image Screenshot-28 hosted on ImgBB

ibb.co

This doesn't work for adding images, it's a link, not the image :sad:

 

[Derek W]

Hypothetical

Cash should be with me in Feb 26 - soooooooooo, i'll hit you up then for your advice

Assumed, not real:
A hypothetical is based on a possible idea or situation rather than one that is currently true or factual.

 

[ivrytwr3]

The question was hypothetical for others - not for me

 

[Ayahuasca]

 

[hornetstinger]

Where's the TV?

 

[Penfold101]

All on black.


No red, definitely red.

Real men put it on green.

 

[Penfold101]

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

I wonder what hypothetical this could be…

 

[Skynet5]

Put a chunk of all over time into your pension and claim the tax back. If your higher rate that 75 becomes 120k in your pension pot.

Ie put all salary in pension and live off the 75k.

I wouldn’t be putting big money into shares, all time highs and likely will pull back in next 3 months.

 

[imtoooldforthis]