[Closed] What would you do with 84K?

Probably wouldn't be hanging around the UK for much longer..

I would be having a damn good holiday as well

Buy a cheap an cheerful place in Southern Spain and ride my bike a helluva lot.

Probably put £20k to one side for a car/motorbike/house improvements and heave the rest of it against the mortgage.

Put a lot of it in the bank, before toddling off to buy panda pops and a bag of peanut M&Ms.

I'd treat the missus to a new car, treat the stepsons to a new wardrobe and would pay for MiL to bugger off for a few hours and leave me in peace.

I'd buy a Ferrari 348 TB in blue with tan interior. Eighties metal like this is about to have its day, and cost surprisingly little to run if you are handy with the spanners. Sell when you are bored for zero loss.

Put the rest into the mortgage / house, maybe take some unpaid extended leave and travel for a few months.

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Take it off the mortgage. The rest can wait, and if like us that would deal with a large proportion of the mortgage then you wouldn't have to wait long.

Stick it all bar £10k onto the mortgage and live a better lifestyle due to the lower monthly repayments.

Pay off the mortgage first, then if I had kids, I'd put it away for their education. That to me would be more important than a new kitchen or car... knowing if they wanted to do Law/medicine/engineering/whatever, the money was there already to fund it.

we have a 10% rule in our house. Due to "spikey" income, we often get lumps of revenue arriving, with arid patches in between.

When it does arrive we're allowed to spunk 10% on stuff we want, with no guilt and no need to justify. The rest goes into mortgage/savings/pension pot etc.

Blur TRc, Transition TR250, Mortgage.

As above, basically pay off as much of the mortgage as I could do without getting shafted for the overpayment and use a bit for something nice for the wife. Maybe a week away somewhere nice in summer where she can sunbathe and I can scuba dive.

Oh, and get the path in the garden re-done so it doesn't go round the side of the lawn. And get a pagoda-style thing fitted to the house over the patio for the grape vine.

I think the OP's got it about right.

If it's replacing stuff that's tired and will need doign in the next few years better to use cash he has now than borrow it later.

Most people 'budget' for current mortgage in any case whereas loan for kitchen/windows/bathroom would be a hefty monthly bill?

put it all on Soldier Boy, 2:15 at Aintree, on the nose

Hookers and blow

I'd wake up in sleazy motel in Reno with a cocktail waitress wife, the mob after me and missing a kidney.

Either that or pay it off the mortgage

mortgage.. as soon as that is finished your whole life changes for the better..

Nothing, pay off a bit of mortgage

Kitchens ****ed, windaz are ****ed, bathrooms ****ed. We hope we can retire & downsize in 4 yrs time so all those should still be in pretty good nick when It's time to sell. No doubt house prices will plummet cos thats just our luck.
Did the garden last year!

Pay off the mortgage, sell the house, move somewhere hot with decent riding and probably still have lots of cash left over.

Pay off against mortgage and use what you used to pay to fund all the hoose improvements.

Double win.

Simple, pay a huge chunk off the mortgage! Any IFA would tell you that.

Had no it was so rock n roll here 😯

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Use £25k of it to buy and repair the outbuildings that are next to our house in Greece and use the rest of it to enable us to spend a lot more time out there than the three months that we manage at the minute.
We don't have any mortgage or loans to pay off, so having a better life seems the best option.

Well heres what I did with it trying to make it work in the best way

About 40% of it on loft conversion, this added more value to the house than it cost.
About 10% of it on a (secondhand) car, but the car actually is financed with 0% credit via Tesco credit card, so I get that 10% back for a bit. But I have to be able to pay for it outright is the rule.
50% offsetting the mortgage

beer and women

the rest I'd waste

New campervan & plan long weekend trips round UK & Europe for the next 20 years.

Mel B + tin bath + cocaine

or, pay off the mortgage and buy myself a reasonable second hand estate car, probably a SAAB... nowt too flash.

Mortgage.

Month off.

re-shuffle/update bike collection

KTM 950SM

Second-hand sports car for fettling.

Set it aside for private secondary (well, 13-18) education for my kids and pay anything left into a decent holiday and then the mortgage. Would consider a new frame maybe but nothing silly.

Kitchens ****ed, windaz are ****ed, bathrooms ****ed. We hope we can retire & downsize in 4 yrs time so all those should still be in pretty good nick when It's time to sell.

Fine, only put B&Q or Wickes basic range in, you won't recoup anything for getting top-end stuff installed

Depends what your LTV is, but if you are selling up in 4 yrs or so I would fix your rate for 5yrs at the current low rates (although rising) and use some of the money as the deposit on BTL.

I'd just sit there, looking at it.

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Stick it in current account, then print out a statement of my account balance.....

Then:

money towards wedding, including decent honeymoon
money towards sorting out house (kitchen, perhaps windows/doors & general decorating)
money towards paying the mortgage off.

Bit boring, really.

I would say the 10% idea is a good one - spend the rest of it on being sensible but at least use 10%of it to have a good time now

Not entirely sure but it would include a bit of land locally on which to build a permanent traditionally constructed Yurtio or two..

and a very well appointed bespoke house truck filled with elegant touches of artisan craftsmanship..

oooooooh.. and one of the new 853 prince alberts

Pay off the mortgage, sell the house and buy a cottage in the country. Leave my job and get a job doing something I love working less hours and not noticing the drop in pay.

Get rid of your debts, mortgage or maybe start your own business?

Then use profits to pay for mortgage etc.

windaz are ****ed

In which case spend some of it on a Mac.

Buy a house and probably take a nice holiday!

Cocaine & high class hookers

A nice Audi, Blur TRC, V10 and sell up and move to southern spain

I'd do pretty much exactly what the OP is doing, new kitchen and bathroom, pay off the 10k of debt we have, rest on the mortgage.

I'f you'd asked me the same question when i wsa 21 (16 years ago), I'd reply like this (because I did it, but with 75k) buy a flat, 50k. blow the rest over the period of a year on drugs, booze and women. I had a great, great time, but god I wish I hadn't done it now 🙂

It depends on your circumstances -
I'd spend 60k turning our 2 bed bungalow into a 4 bed house, which would add 120k to its value...
I'd pay a bit off our other debts, and treat the family to a couple of decent holidays...

Oh, and buy a nice 140mm full susser.

i would lend ton 3k to buy a new leccy mtb so that i can take him riding around the square corner....... 8)

buy a house/flat to rent. I'm sure you can then get a bit of an income from your inheritance?

Give the money to a halfway house for newly released prisoners.
You could help them find their way back to the Big Society.

That ,or go and visit Don Simon for a relaxing holiday 😆

Well, the above are all good suggestions but I would suggest you think carefully about giving most, if not all of it to a good cause. I can suggest a very good charity, of which I am the founder and chairman of, that works tirelessly to support the almost forgotten cause of white, middle-class men in their early 40's, living in nice parts of the Southern England who are struggling with the results of a happy home life, a fulfilling marriage, a string of pretty good career choices but still do not own a Whyte 146, a Willier road bike, an Audi or a Rolex.

Please, please give what to you can to this excellent cause, make all cheques payable to the Charitable Access Support Helpline, or CASH.... 🙂

Or alternatively just get the mortgage paid off (or a chunk of it to keep the bank onside) and have a nice holiday and sort the house out. Oh and get a nice bike too 8)

I would say the 10% idea is a good one - spend the rest of it on being sensible but at least use 10%of it to have a good time now

Good rule that... In which case I'd buy...

Cotic Rocket with BOS Devilles, full XT, DT/Stans wheels, a Reverb post etc.
A couple of weeks somewhere to ride it.
Few hundred quid on new clothes. So skint it's been ages since I bought any!
Take a few closest mates out for a good meal and night out. Nothing too serious but drop a couple of hundred on it.
New 27" iMac...

Would then spend the rest on a decent sized 3/4 bed house, with as low a mortgage I could get and rent 2 of the rooms out to cover paying for the mortgage.

Would maybe then in 6-12 months time when that was all paying for itself spend a few grand on a newer car, but even though the current car is 12 years old it's so low milage and cheap to run, I couldn't really justify getting rid! And I used to consider myself a petrol head... My how times have changed!

put it towards buying a house. maybe treat mrsconsequence to a fullsuss. sorted.

£40k 'deposit' on a house
a couple of nice bikes
a cheapish car
and invest the rest in my business.

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Doesn't everybody have this sort of money lying around anyway? 😉
(Being middle class IT types)

All down to individual circumstances. Mortgage can wait for me - I'm 35 (so plenty of time working ahead of me) and £85k would only pay off around half of it.

So, I'd do some debt-free house improvements and, if there was any left over, I'd buy a couples of acres of land nearby and rent them out.

[i]Being middle class IT types[/i]

well £80k woudl pay off a third of my mortgage so I guess I fit the mould...

I'd hunt down secondhand Bontrager tat the world over.

i would have a lot of money left off after having paid mine

All down to individual circumstances. Mortgage can wait for me - I'm 35 (so plenty of time working ahead of me) and £85k would only pay off around half of it.

but save loads of interest.

buy 1423 front mud guards

but save loads of interest.

Over the remaining 19 years, I agree. But, on the basis I don't intend to move, I could achieve more with the house now, knowing that inflation will diminish the value of the debt over time.

Of course, this assumes I can and will continue to earn at at least the (relative) level I do now. That's the gamble.

^ good point.

i'm 36 and 84k would clear my mortgage - then i would not feel so bad about handing my notice in a dossing for a bit 😉

id panic buy stamps and sell em this christmas to the old dears....

Spend it bringing happiness to the other people who were associated with the deceased as well?

Don't ****ing sit on the rest of it. My Father brought me up in poverty whilst he sat on a huge inheritance. Idiot.

Before you spend a load of cash on the house you could consider moving. It might be cheaper. Oh, and depending on your circumstances, I'd put all but a very small amount straight into the mortgage.

"I spent a lot of money on booze, birds and fast cars. The rest I just squandered." George Best

life supply of goose eggs, parma ham & wine.

life supply of goose eggs, parma ham & wine.

I like your thinking.

Buy an investment property while the market is on its arse, rent out and use the money to pay off current mortgage. Plus some blow n hookers, maybe treat the mrs to some new norks.

Don't **** sit on the rest of it. My Father brought me up in poverty whilst he sat on a huge inheritance. Idiot.

Not that your bitter or anything 😉

He made alot of strangers happy (I'd cut him out of my life 30yrs ago).

He made alot of strangers happy (I'd cut him out of my life 30yrs ago).

good plan! sure we don't share a father?

In this order:

Disney Land
several bottles of Cristal '04
do up house
new bike with all the trimmings
top up ISA's to the max
top up current accounts
dent the mortgage with the remaining

Invest it in lottery tickets...........

Pay off one mortgage and get a newer car.

Two weeks tour of Canada in a hired camper van. Your bikes on.

mortgage.. as soon as that is finished your whole life changes for the better..

I have no mortgage, was ace when i paid it off, but life still goes on...

I think it depends how old the OP is as to what to do with it, mortgage is priority sure, but if you're getting on a bit just enjoy it.

You can't take it with you.

Go for a drink with Alex Hope ,when the bill comes give him the 84k and tell him you will have to owe him the other 41k for your bottle!!!!