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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.