50-70k to invest in next couple years Philosofried

#1
Morning all,

28 yr male with life partner and daughter. I have about 100k from an inheritance. Will be taking out about 30-50k to clear up debts and put money aside for the little when she is older. I am looking to invest the rest but not sure how or what to invest into. I am not really looking for a quick turn around, maybe something to provide a steady income each year. We both will still be working and are NOT looking to rely on investments to live off of. Can anyone provide advice or tips on what to do or look into? I've heard agriculture, businesses are a good way to go. I have not gone to an investor just yet as i don't entirely trust them especially with such a large amount of money (for me at least anyway). Any help or advice i would greatly appreciate it.



Thanks

#2
You say you haven't gone to an "investor" yet, I suspect you mean an Independent Financial Advisor? An investor would be something else entirely.I dont know where you heard about "agriculture, businesses" but thats a wide ranging field. "Agriculture" could be Ted The farmer, or Monsanto, a business could be Monsanto, Sock Shop, or the corner garage.



Given you are starting from zero knowledge, try reading the moneyvator site to start the learning process, you'll need that for investing the money for your daughter. And you need to decide what your priorities are for this money (and maybe you'd split it into chunks) in terms of long term and income. There's your pensions to consider also.



What people do with their money is determined by their needs, not by the amount of money.

#3
Thanks for the reply. Yeah sorry i did mean Independent Financial Advisor, i have heard Fee-Only advisors are the way to go. Definitely not Monsanto, never ever EVER!! Agriculture from what i read was in different countries, like Thailand etc, i am trying to find the post but not having luck. I am not entirely sure what to invest in, i don't want the money just sitting there, partner wants to buy a house but 250K+ min for a 2 bed where i live its not going to happen. I will check out that site and have a read, thanks

#4
The first thing you need to do is work out your goals, to many people having £100k to put down as a good deposit on a house would be an obvious choice, it may be that you would still be stretched based on income for a suitable mortgage, have expensive debt to pay off or other issues.



The average persons thinking, whether working from income or inheritance, would be to pay down expensive debt, then have an emergency fund, then consider a house deposit, look at pensions and then stocks and shares isas, maybe p2p etc



Teh sums you quote aren't very large for many ifas and you may not get too much interest in that direction, as joe says have a read on monevator and that should give you a good initial steer.



Deciding you want to take a punt on an exotic investment in one sector in an emerging market doesn't sound like a great start.

#6



Thanks for the reply. Yeah sorry i did mean Independent Financial Advisor, i have heard Fee-Only advisors are the way to go. Definitely not Monsanto, never ever EVER!! Agriculture from what i read was in different countries, like Thailand etc, i am trying to find the post but not having luck. I am not entirely sure what to invest in, i don't want the money just sitting there, partner wants to buy a house but 250K+ min for a 2 bed where i live its not going to happen. I will check out that site and have a read, thanks
Originally posted by Philosofried


Hopefully your luck will continue and you'll never find that post, because investing in something like that is for those who can afford to lose it all. And I do mean all.



So you've basically got £50k to "invest" and you reckon a house is out of reach where you live? Could you move ?

#7
Clear your debts, and because your the repayments will have stopped you can then save like mad for the deposit on a house. Don't earmark money for the children; the house should be your priority. You can always change your mind and earmark money for them later.



Owner-occupied houses get absurdly generous tax treatment and that seems unlikely to change. (Almost every discussion you see about house prices completely ignores the effect of that generous treatment on them.)

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