MegaSack DRAW - This year's winner is user - rgwb
We will be in touch
Well, thank you Aunt Margaret, who was one of life's good people & has shared her estate with some other good people & good causes such as the RSPCA, RSPB, Mencap, ENB&FRF & so forth, but seriously before I ask my financial advisor (my nephew Charlie)What should I do with 50K(ish)?
give it to Dave to pay off the debt.
Buy a house somewhere cheap and rent it out.It should give quite a good return
essel - we've just spread ours across a few banks and accepted the cr4p interest - at least it's safe.
Otherwise buy an M3.
"Charlie" hey ?
50 grand is quite a lot of that, I'd imagine - even with the hookers added in
Save some for the tax man, or to para-phrase George Best when he was asked where his money had gone;
[i]Most I spent on women and booze, the rest I wasted[/i]
Buy premium bonds.
Pay the mortgage if you have one - nice to be free of it. If a higher rate tax payer maybe wack a load into a pension.
Do NOT buy premium bonds.
http://www.telegraph.co.uk/finance/personalfinance/savings/7607815/The-seven-deadly-sins-of-NSandI-Premium-Bonds.html
Spunk it on bikes and bike holidays...
[i]Buy premium bonds[/i]
What, & possibly get NO return whatsoever?
Well if no one else is going to say it.
Give it to me?
Offset your mortgage, improve your property or buy some shares.
Obviously treat yourself to something too
donate it to RSPCA, RSPB, Mencap, ENB&FRF & so forth
[i]donate it to RSPCA, RSPB, Mencap, ENB&FRF & so forth[/i]
ENB&FRF, Essels New Bike & Fishing Rod Fund. Charity begins at home mate. Mine.
Open a bike shop and I'll run it for you!
Me & Penrod think the same up to now, just wondering what others thought.
My auntie kathleen left me £50,000 as well a few years back. Unloaded the lot in less than two years! What a time tho...
So you have just inherited 50G and your on on sad track asking what to do with it. Get one of these tee shirts.
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ENB&FRF, Essels New Bike & Fishing Rod Fund
Are you a registered charity ?
If I'd inherited 50K, you wouldn't see me for dust...I'd sell up and go live in a cheaper country before this one goes t**s up... Oh bugger.. too late.
[i]So you have just inherited 50G and your on on sad track asking what to do with it. Get one of these tee shirts[/i]
Hmmm...Don't think theyr'e worth 50K EACH though do you?
Don't think theyr'e worth 50K EACH though do you?
No but it if you give the tee shirt retailer that for one, A everyone will know you are a cock and B, you will help so one out who needs the wedge and probably knows what to do with it with out asking.
Pay down the mortgage if you have one.
Been overpaying mine quite heavily and I'm amazed how many thousands I've saved in interest I'll never have to pay.
I could sell you a nice holiday home in The Gambia for less than half of it. Year round 30 deg sunshine etc etc, but totally useless for biking as its so bloody flat.
Me, I'd pay it off the mortgage.
Spend a few months Sh**ging a Woman who is out of your league
I have a perfect investment opportunity for you - double your money in five years 🙂
Actually I do have but I am around 60 grand short of being able to do it
Give it to us sorry southerners so we can buy a hill worth riding up :-).
Mortgage, for sure.
That 'don't buy premium bonds' page is so dull and miserable. Jesus, who sucked the life out of that bloke?
There's a *chance* you could win a million, and you'll never lose anything. Does he not realise that people need that little spark of hope in their lives to keep them going sometimes?
What an accountant!
Pay off part or all of mortgage.
Increase AVCs into your pension.
Look at tax free ISA's (cash or share)
Buy something you want before the VAT goes up
National Savings Index linked bonds - £30K - spend the rest
Mortgage paid off/down
Any left goes into savings, alternatively if you clear your mortgage then what was your monthly payment goes into savings, the rate will not stay low forever (BoE committee alledgedly split over last months decision, so the end of 0.5% might be in sight, good news for savers).
Get Morgan Freeman to narrate your life.
No but it if you give the tee shirt retailer that for one, A everyone will know you are a cock and B, you will help so one out who needs the wedge and probably knows what to do with it with out asking.
Did you not get enough sleep last night or something TheSwede?
Crikey theres some accountants on here!
£50k = £250 a week for 2 years = enough to have 2 years of absolutely epic fun.
Rent out your house on one of those gaurented income thingies to keep the mortgage paid, and f*** off to somewhere fun!
I'd buy a big sailing boat (OK, not that big with 'only' £50k, but big enough), a custom Nicolai, and go on the most epic round the world trip ever with as many mates as could afford to keep up! Simples, just tow macral lines 24hrs a day and you'll be eating fish till your sick of the stuff, add a solar still and your sorted for life!
Just need to draw up a list of places with good riding within spitting distance of the sea :-p, I'm sure the caribean and Hawai must have some epic trails.
Pay off any outstanding debts.
Buy some gold, put some of it in a solid foreign currency, like the Singapore dollar, buy a new bike, but overall just keep it as there are many rainy days ahead.
I'd go to Japan and have a brilliant tattoo done on my back then spend the rest in Bangkok on ladyboys and cheap counterfeit Whisky.
Pension pot.
Why buy gold now?
Gold is at a high.
The Pound is (hopefully) at a low.
Unless the £ tanks again which would take some doing I'd keep it here. Boats are the next best thing, slow depreciation, and can be sold internationaly. Buy a boat in Britain and it will probably apreciate if you sell abroad.
that'd be a deposit on a house for me.
and a bloody nice bike/holiday/van.
What about a big boat made out of gold?
£50k is not going to change your life, and tbh it really depends on your mortgage rate of whether its really worth paying it down (mines 0.83% so the saving would be bugger all).
If you don't need the cash, then invest it 'high-risk'.
If you've any debt, probably pay it off - but having cash in the bank is always useful.
Gold boat?
Reinforced concreet is where it's at!
[url] http://www.yachtworld.com/boats/1975/Ferro-Cement-Schooner-2159798/Plymouth/United-Kingdom [/url]
Seriously, why save/invest it? What are you going to do with it, spend it slowly and get no real joy from it? Pass it onto your kids?
If you have no savings stick £10k in a rainy day fund, but have some fun with the rest it!
'Not going to change your life'
Well it isn't if you do all the boring/sensible stuff that people say up there. If your imagination can't sum up a better life with 50k then go buy an imagnation.
Or just invest it and be sensible.
50k would change my life. I'd take it any day of the week.
£50k is not going to change your life, and tbh it really depends on your mortgage rate of whether its really worth paying it down (mines 0.83% so the saving would be bugger all).
Good point about the current interest rates, but things are bound to change in future.
I think that amount of money really would change a lot of people's lives in terms of affording a deposit on a home or letting them feel a bit more secure in their finances if they've previously been living hand-to-mouth.
OK assumptions:
Your ~50-55 ish (old enough to have the generation above you starting to shuffle towards the light)
Therefore - Kids have left home
- Morgage must be almost paid off
- Pension is secure as it can be
- As a result of the 3 things above your cost of living has droped a lot in the last 10 years
Assuming those assumptions are correct, have some fun! I'd rather have some epic memories for a rainy day than a pile of cash in a savings account.
I'd not invest in premium bonds, but I know someone who put 1K in and as yet they haven't failed to win <500 per year. They now have near 4K in including the orignal capital. That's not a bad return!
Notice the OP hasn't been back for a while.
I reckon he's taken the coke and hookers route.
I reckon he's taken the coke and hookers route.
dwarves carrying trays of coke on their heads, if he's got any class
I would say buy shares in Apple, but judging by the way that the iPhone4 seems to be going tits-up at the moment, probably not wise! Wait a few days for them to take a slide and then buy buy buy!
[i]Notice the OP hasn't been back for a while.[/i]
Still have to work for a living!
Just got in & the cheque's arrived, £48,531.67
Some good thoughts there, however any of you who actually thought I was really looking for advice are as daft as you thought I was!
[i]thisisnotaspoon - Member
OK assumptions:
Your ~50-55 ish (old enough to have the generation above you starting to shuffle towards the light)
Therefore - Kids have left home
- Morgage must be almost paid off
- Pension is secure as it can be
- As a result of the 3 things above your cost of living has droped a lot in the last 10 years
Assuming those assumptions are correct, have some fun! I'd rather have some epic memories for a rainy day than a pile of cash in a savings account.[/i]
Do you know me personally? Your'e spot on apart from the mortgage bit, still got a biggish mortgage so obviously thats gonna get the attention one way or the other. What I won't be doing is buying an M3! (It'll be an Audi RS4, HA!)
Anyway, I'm off to buy some feather edge patches, got a flat on the old H/T.
Do you know me personally?
Nope, but for £50k I'd relax my morals :-p
Just hazzarded a guess based on the relative being one generation older and rich enough to leave nephew's money as well as charities, therefore preumably dying of natural causes at a ripe old age.
The rest was based on my parents being about your age so just describe them.
50k is just what I need to extend my house.
Lend it to me on an interest free loan.
50k sure would change my life! I'll do you a good deal on a kidney. One careful owner...
@ the OP, do you have any female offspring? In which case just put the money into a savings, and unless you can convince the afore mentioned offspring to elope, it'll mostly be gone with one wedding nowadays.
go on TJ, I'll entertain your idea... (seriously now)
I would
1. Go Heli skiing in Alaska
2. Buy a Ducati
3. buy a nice shiney new bike
4. Go on a month long road trip around the alps biking
5. Climb an 8000m peak in the Himalayas
6. Take all my mates to BC for 2 weeks biking
sod saving it - you only live once. Its free money.
I'm self employed, so I think I put put it in the bank to live off in lean times or when I felt like the trip of a lifetime...
You could either sit back aged 65 and think 'ooh I saved a lot on my mortgage' or you could have a stupendous epic trip of a lifetime and still be grinning about aged 65 🙂
Drugs, hookers and a white spandex jumpsuit
Mid 40s mortgage till im 65
No pension
Kids
50k would change my life big time
I'm curious as to the financial situations people are in that they reckon £50k wouldn't change things for them.
It damn well would for me! 🙂
A quick bet on
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Eddery, Paul/Channon, M
Form : 67-097 Age : 3 Weight : 9-5
If that come in 1st you'd get £1.7 million!!!!
Do it!!! 👿
I know this sounds boring but:
- Make sure your ISA allowance is used up for this year. That's £10k accounted for.
- Read some scary predictions about pensions. Do something about it.
- With the remaining cash, just go mad and get yourself a pair of Nobby Nic tyres or maybe even some Stan's rim wheels.
I'm listening!
Have you seen the price of a strip of patches these days? 99p!!
Anyway, [i]1. Go Heli skiing in Alaska
2. Buy a Ducati
3. buy a nice shiney new bike
4. Go on a month long road trip around the alps biking
5. Climb an 8000m peak in the Himalayas
6. Take all my mates to BC for 2 weeks biking[/i]
1. I'm 54 & can't ski.
2. Haven't passed me bike test (although I could buy one & just sit in the garden listening to it, they do sound nice)
3.I might.
4 Been 3 times.
5 I'm 54 with wonky knees.
6 I might.
[i]I'm curious as to the financial situations people are in that they reckon £50k wouldn't change things for them.[/i]
When I was a kid, maybe. But then a million was beyond the amount you could imagine - and pools winners were winning hundreds of thou - now £50k wouldn't even get the Bentley salesman off his chair...
tbh if I inherited £50k it would just go in the bank - to be used as and when it was needed - that's not me bragging but just looking at it rationally based upon the cost of living. Especially with 3 (teenage) kids and both the wife and I contract working (and consequently only on a weeks notice).