Money Query

[kev2021]

So, I been thinking, what’s the best way to store/save money from either a inheritance (large or small) or a lottery/competition win in the UK?

This is a general question but I figured I’d ask as most people will get some inheritance I suspect, albeit a small or large inheritance (if property sold or investments)

I’ve not inherited anything or come into any money, just curious what’s the best way?

Just few ideas I thought of but unsure if viable or good options:-

• Place it all in 1 NS&I account as protected by government regardless of amount, unlike a normal bank?
• Open multiple accounts with different banks and keep below bank protection limit?
• Invest some it in a world fund
• Use it for holiday, buying new car or property if don’t have/rent, use it to do up current property or add extension etc?

I personally thought NS&I but given all the scams/hacking, it may not be worth leaving it in one account to try and mitigate any risk/loss?

Kev

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[UK Sentinel]

Big question and one I had to deal with a while ago, I opted to pay off my mortgage and have not regretted the decision ever since.

Since then my strategy shifted from “protection” to “lifestyle and legacy.”

In a completely sane world, madness is the only freedom (J.G.Ballard).

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