markyg61
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Post by markyg61 on Jun 7, 2021 6:08:12 GMT
Theoretical question
The wife and I are 55+ and have beeen fortunate to have just inherited £30k each.
We have both paid into co. and private pensions.
We both have the max in Premium Bonds.
Some cash sitting in 1 year bonds .
We have a mid 5 figure sum diversified across many P2P platforms and would NOT want to commit anymore.
We both have this years ISA available and not adverse to some risk.
What would you do ?
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ptr120
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Post by ptr120 on Jun 7, 2021 7:26:21 GMT
Stocks & shares ISA, and / or pension top-ups.
But also spend a little of it on something you might not otherwise do / buy. Opportunities for travel will open up far more later this year, so perhaps a nice holiday?
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lara
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Post by lara on Jun 7, 2021 8:52:08 GMT
Stocks and shares isa.
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adrianc
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Post by adrianc on Jun 7, 2021 9:08:09 GMT
Index tracker funds via a platform like II, inside an ISA wrapper.
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Post by gramsky on Jun 7, 2021 12:42:28 GMT
Theoretical question
The wife and I are 55+ and have beeen fortunate to have just inherited £30k each.
We have both paid into co. and private pensions.
We both have the max in Premium Bonds.
Some cash sitting in 1 year bonds .
We have a mid 5 figure sum diversified across many P2P platforms and would NOT want to commit anymore.
We both have this years ISA available and not adverse to some risk.
What would you do ?
What good is it going to be to you when your dead? Spend it wisely and enjoy yourselves.
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Post by c64 on Jun 7, 2021 13:04:01 GMT
If you are going to need the money in the next five years, stick it in a mixture of instant access and 1-3 year best buy fixed rates as you see fit.
If not, but you want it later, work out what your preferred mix of assets is for your risk appetite and time horizon - regardless of any extra £30k. Equity, bonds, property, cash "others". Invest in those proportions, using tax shelters where possible. Up front tax relief in SIPP, income/capital gain protection in ISA, etc. The extra £30k shouldn't really change the proportions, just split it so as to keep the overall balance where you wanted it in the first place.
If you are sure you won't need it, and your estate is over the IHT threshold, and you have deserving heirs, vary the will now so that the money goes straight to them rather than it just sitting in your estate waiting for 40% tax when you pop your clogs. Or to retain some control pile it into a SIPP, if you are under the lifetime allowance and intend similarly to use the SIPP as an inheritance vehicle.
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ptr120
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Post by ptr120 on Jun 7, 2021 13:23:43 GMT
A deed of variation as mentioned by c64 above can also be worth thinking about if it suits your personal situation, but it may depend on how amenable the executors of the will are, and if probate has already been granted. |
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Post by c64 on Jun 7, 2021 13:40:00 GMT
Nah, the variation is in the hands of the beneficiary. The executor's signature isn't even required unless it buggers up their wider IHT reporting somehow (says a website when I thought I'd better reference that... www.legalo.co.uk/blog/what-is-a-deed-of-variation/). I only mentioned it really in case the OP is disregarding, say, half a million pounds of house in the south east and a pension already stuffed to the gills in his/her list of assets. Anyway if they are in the middle of the three cases I mentioned, some thought about asset class balance depending on property value and equity content of pensions is probably more relevant than IHT. |
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michaelc
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Post by michaelc on Jun 7, 2021 14:22:09 GMT
I would get out of p2p for at least a year and maybe much longer.
s&s ISA in individual stocks and some funds where it is harder to get exposure to but I don't like anything you can buy from a broker unless its a stock as I understand that.
That is what I would do but I am a million miles for being any kind of financial expert.
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keitha
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2024, hopefully the year I get out of P2P
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Post by keitha on Jun 7, 2021 15:54:41 GMT
Go green?
Solar panels with battery storage
heat pump
Actually thinking ahead, I have a hunch that there will be a big push for home solar and storage and heat pumps so subsidies may become available in the next 18months
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Post by df on Jun 7, 2021 20:33:02 GMT
Theoretical question
The wife and I are 55+ and have beeen fortunate to have just inherited £30k each.
We have both paid into co. and private pensions.
We both have the max in Premium Bonds.
Some cash sitting in 1 year bonds .
We have a mid 5 figure sum diversified across many P2P platforms and would NOT want to commit anymore.
We both have this years ISA available and not adverse to some risk.
What would you do ?
I'd put it in FSCS protected account. Interest rates are low, but the capital is protected - everything else is a gamble 
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travolta
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Post by travolta on Jun 7, 2021 21:11:15 GMT
Gold
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markyg61
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Post by markyg61 on Jun 8, 2021 6:26:35 GMT
Ah now there's a thought......electric cars are going to need battery packs.
"Reserves of the raw materials for car batteries are highly concentrated in a few countries. Nearly 50% of world cobalt reserves are in the Democratic Republic of the Congo (DRC), 58% of lithium reserves are in Chile, 80% of natural graphite reserves are in China, Brazil and Turkey, while 75% of manganese reserves are in Australia, Brazil, South Africa and Ukraine."
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Post by Deleted on Jun 8, 2021 9:42:49 GMT
is "spare £30k" like "left over wine" one of these odd concepts?
I'd certainly not have so much in P2P, max 5% of total capital
It is not clear where you are on tax. Do you need more income or more capital gains to max out your tax advantages
Then do you like roller coasters or sofas?
Roller coasters, I'd pick up ITM whenever the price falls below 350p, it offers great green credentials at dinner parties and you never know what it is worth. A capital gain play
Sofa, buy TRIG, when Sp is sub 105. Steady income of 6% from turbines and solar in Europe. Only trouble is they keep needing more money to buy more turbines so the NVA is important. A steady income play.
See also SMT, Fidelity Global Technology, SSON etc etc
BTW how are you company and private pension investments doing? Are you achieving at least 8%, if not I might change my IFA
This is not advice merely the thoughts of a fellow investor
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JamesFrance
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Port Grimaud 1974
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Post by JamesFrance on Jun 8, 2021 9:58:30 GMT
Spend the money on something to do when you retire.
I have been retired for 25 years and kept busy and active with all of these.
Motorhomes for wintering in southern Europe. Narrowboats for exploring the British countryside. A sailing yacht for cruising the Mediterranean.
You only have one life so don't waste it.
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