What to do with 40K

**baronvon** · 17th August 2009

�5k on a good family holiday, pay cars off then the rest against the house

remember the inheretence is also to remember the person who gave it to you, nice way for the kids to remember their (nan/uncle or whoever it was)

THE BARON

**Raptor** · 17th August 2009

Don't bother pay any mortgage off - waste of time at the moment - seriousley
Pay off loans / cc with highest interest. Don't bother paying any cards if you have a 0% (in fact I recommend you move any cards to a 0% anyway - not enough ppl do this - I do it every 12 months - I save thousands a year)
I'd spend 10k-20k on Lloyds shares (trust me - in 5 years it will double for sure and maybe triple)
Put 5k in premium bonds for 12 months (you can leave it there or take it out if you need it. Always worth a go as its zero risk)
Put 5k aside for family fun
If you want a nice flash car - then LEASE (Never HP or Pay Cash) You can get brand spanking new BMW's now for less than �350 a month.
I also recommend advice regarding inheritance tax. I would need to see hardcore figures on your cars to give you the best advice re: selling and HP settle.

#1 RULE - DO NOT RUSH INTO ANYTHING. DO NOT ASK FAMILY FOR ADVICE AND DO NOT TAKE ADVICE FROM SOMEONE WHO IS SKINT BUT LIKES TO GOB OFF ABOUT HOW TO RUN THE WORLD - YOU ALL KNOW SOMEONE LIKE THAT.

Thats my advice - and dont forget im pretty well off so I have a clue

**NADIRv8** · 7th October 2009

Personally would be looking to see how I can get �40k working harder for me than paying off current debt-
- rental property
- buy a company or joint venture
- engage business deals for bigger return (at a risk)
- import & sell sure sale products, cash rich people do well here

Let us know what you decide tho. The safer option would be clear car loans and mortage.

**rusty** · 8th October 2009

there is that guy in jersey who's got �300 million from import & sell sure sale products,
but looks like he's going to get 10years in prison as well

what sort of "import & sell sure sale products, cash rich people do well here" do they do.
i've got �35k sitting in bank doing nothing, so need to get it working

**Roper99** · 9th October 2009

Doesn't look like we'll be getting anywhere near that amount, long story. Didn't have it in the 1st place so not going to moan or whine.

**DelTrotter** · 12th November 2009

5% of your asset risked on laying horses.2 grand a week on one lay

**Freaky** · 12th November 2009

you must have had things in your head for years that you would like to do if you ever had the chance????.

but investing in something (no idea what) and making more money with it sounds like a good plan

hope you do well anyway m8, and paying off debts with the highest interest rate is just common sense and you should do that first off

and best of luck with whatever you decide, heres hoping you make another 40k with it, just dont go mental and blow it on shit

good luck

**salim** · 13th July 2010

Pay the loans which have the highest Interest charges of first. Then use the remainder to clear loan

**Nibb** · 13th July 2010

Originally Posted by salim

Pay the loans which have the highest Interest charges of first. Then use the remainder to clear loan

Good to try and get involved m8...but please check the thread date as bumping old ones such as this will be seen as spamming your post count!!

**cyprus** · 13th July 2010

Stay out the Whine Cellar too

**salim** · 14th July 2010

Sorry about that,I didnt read the thread date. The fella has prob already spend the 40K

**russbeer** · 14th July 2010

If you've read the thread you'd have seen that he didn't get anything like that amount in the end. Would be nice to hear who this finished up, but not much chance as the thread starter hasn't been on here this year.

**Mystical_2K** · 14th July 2010

Originally Posted by russbeer

If you've read the thread you'd have seen that he didn't get anything like that amount in the end. Would be nice to hear who this finished up, but not much chance as the thread starter hasn't been on here this year.

maybe got more than he thought then and hes off sunning himself

**Roper99** · 15th July 2010

Got 5k in the end, not bad cos I didn't have it to start with. Got the house roughcasted and re-roofed. Needed done so the money came at a good time! And sorry I haven't been on for a while....just don't get the time anymore... must try harder !!

**rugrat** · 15th July 2010

Me and the wife have �60k in premium bonds get between �25 and 200 every month..

**ELT** · 25th January 2011

I cant believe some of the advice on here.

If you have 2 kids, the first thing to do is to free up the �450 by clearing the loans. Then re-direct this �450 a month to your mortgage. If you have a low interest rate on your mortgage, then yes, look at investing the remainder of the capital, but if the interest is any more than 4% then I would definiately recommend paying off the mortgage.

**russbeer** · 25th January 2011

another one not reading the thread before commenting... he only got �5k and its already been spent!

The threads not been touched since July mate!

**ELT** · 25th January 2011

oops.
Sorry 'mate'

**Dragon_Phantom** · 25th January 2011

Id say pay off car loans, use 10k to invest somewhere for the next few years rest up agains the mortgage.
There are quite a good few long term investments that 10k could make you pretty happy in a few years.