First, congratulations.(Original post by Pipsico)
A bit about me
I have a stable well paying job and house with £175k mortgage paying 1.79% on a tracker (will soon go down after these Base rate cuts)
No debts apart from £1500 on a 0% interest card until 2018.
I plan to treat myself with £1k of it and then do something smart with it.
Currently have it stuck in 2x Santander 123 accounts paying 3% pre-tax and the rest in Club Lloyds accounts.
I know there are a few financially savvy people here so would be good to get your thoughts on what to do? Or is it best left where it is?
I'm not a massive risk take btw, and don't have time to manage a portfolio of investments. As my mortgage rate is so low, it might not be worthwhile to pay it off.
Perhaps I could go shared ownership in a house? or?
As wiser people have said: your money should work for you, you're not working for your money - so, what do you want to do (in life)? Before you were gifted this money, you might have had (explicitly or otherwise) a set of goals and pots that you were saving money into, so rather than creating new pots, you now have the flexibility to fill them a little faster.
Are you saving for retirement, how are your pension pots looking? Does early retirement appeal to you? Moving up the property ladder in the next five years? Starting a collection of classic cars? Around the world cruise? Your personal goals come before the goals that you set for your capital.
Gifted £50k. Want to do something sensible, but not sure where to go from here
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