News1 min ago
Inheritance?
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Iv'e inherited £20,000, any advice on where to put it to receive the best interest? I'm hopeless on money matters so please keep it simple
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For more on marking an answer as the "Best Answer", please visit our FAQ.If you put it in an interest-bearing account you'll be lucky to beat inflation, so your money will lose value. For most of it you would be best advised to speak to a reputable financial advisor ('IFA'). They won't normally charge you for an initial consultation.
In case you are wondering I am NOT an IFA.
In case you are wondering I am NOT an IFA.
It depends on what your current financial position is and what your needs will be over the next few years. If you have any debts where the interest rate is above 2-3% then use pay a large chunk (or all) of these off first. I wouldn't spend money on an IFA for a sum of this amount- the fees will outweigh the benefits. Santander 123 is well worth looking at