What to do with an inheritance and with shares?


#1

Hello,

I have been left what is a large pot of money for me and my family by my dearly missed Grandfather and I’m looking for ideas of what to do with it.

The amount is £60,000 but there is also a small number of shares he transferred to my name before he died. He liked investing and I know he liked investment trusts. I don’t understand them as well as him and I know even less about the stock market. The shares he passed on to me are worth a little over £20,000.

I would like to invest this money for the long term for my family. I have a mortgage of just over £40k and have three young kids who will probably go to Uni one day.

I don’t know whether to pay my mortgage off or just to invest the whole £80k and grow it for our future.

We were left a little more than the amount I quoted but we went on a nice family holiday, and upgraded the car and kitchen and I have kept some back in the Building Society in case we need cash for something or other.

Any help or advice would be greatly appreciated.


#2

Hey @ThomasMac

A couple of questions come to mind Thomas. How long is long term for you in investing?

How do you feel about risk. I mean by that how much risk do you want to take?

Also, I’ve seen other people do posts like this on this website and they complete a questionnaire first which makes it easier for people to help you because they ask all the questions you need to think about. Maybe @whichinvest could help you with that if you are willing to do it?


#3

We have messaged @ThomasMac privately.


#4

Thanks @whichinvest and @harjinder I’m looking at the questionnaire now. I’ll complete it this evening and email it across.

Thanks again