£1m inheritance WOOP WOOP - what to do?

[m***@gmail.com]

As per the title, father-in-law has passed on leaving his estate to his daughter (my wife).....it looks like the final figure after taxes is going to be approximately £1m.

Never having had ready access to that sort of money, and not prepared to pay greedy financial advisors with self-interests, where to go?

I assume a couple of properties (£700k) will get two decent four bedroomed new-build houses around here that would command £1k per month each in rent.

Is property a good investment? £24k per annum in rent for a £700k outlay is 3.5% so it seems good.

And what to do with the remaining £300k?

[tim...]

Post by m***@gmail.com
As per the title, father-in-law has passed on leaving his estate to his
daughter (my wife).....it looks like the final figure after taxes is going
to be approximately £1m.
Never having had ready access to that sort of money, and not prepared to
pay greedy financial advisors with self-interests, where to go?

with such a large sum of money I think you ought to review this and see what
they can offer
just don't be prepared to sign up for anything in a hurry (I think you
already are in that position)

You need to understand if something that they offer preserves the capital or
if it doesn't. Sometimes they are less than clear on this.

Post by m***@gmail.com
I assume a couple of properties (£700k) will get two decent four bedroomed
new-build houses around here that would command £1k per month each in
rent.

a larger number of smaller properties:
a) gives a better yield
b) will be easier to rent
c) will better shied you from bad debts

Post by m***@gmail.com
Is property a good investment?

dunno, is it?

I've left my crystal ball behind.

Post by m***@gmail.com
£24k per annum in rent for a £700k outlay is 3.5% so it seems good.

No, it's rubbish. you need to be looking for closer to twice that.

Post by m***@gmail.com
And what to do with the remaining £300k?

well you either leave it in cash or you get a financial advisor to find you
an equity investment, there aren't really any other options (it's a lot of
work managing your own equity picks)

[r***@gmail.com]

Post by tim...

Post by m***@gmail.com
As per the title, father-in-law has passed on leaving his estate to his
daughter (my wife).....it looks like the final figure after taxes is going
to be approximately £1m.
Never having had ready access to that sort of money, and not prepared to
pay greedy financial advisors with self-interests, where to go?

with such a large sum of money I think you ought to review this and see what
they can offer
just don't be prepared to sign up for anything in a hurry (I think you
already are in that position)
You need to understand if something that they offer preserves the capital or
if it doesn't. Sometimes they are less than clear on this.

Post by m***@gmail.com
I assume a couple of properties (£700k) will get two decent four bedroomed
new-build houses around here that would command £1k per month each in
rent.

a) gives a better yield
b) will be easier to rent
c) will better shied you from bad debts

Post by m***@gmail.com
Is property a good investment?

dunno, is it?
I've left my crystal ball behind.

Post by m***@gmail.com
£24k per annum in rent for a £700k outlay is 3.5% so it seems good.

No, it's rubbish. you need to be looking for closer to twice that.

Post by m***@gmail.com
And what to do with the remaining £300k?

well you either leave it in cash or you get a financial advisor to find you
an equity investment, there aren't really any other options (it's a lot of
work managing your own equity picks)

"you either leave it in cash or you get a financial advisor to find you
an equity investment, there aren't really any other options (it's a lot of
work managing your own equity picks) "

In this example "you" should read "your wife". It is her money after all, not his.


Robert