Moneymakeover inheritance - investment advice v pension

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monkey0804

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Hi, I have recently received an inheritance. I am married, two college going kids (we have saved for their college funds, so that's taken care of). My husband has a well paid job, decent pension that he is adding to with avcs. We have mortgage paid off. We have no loans or debts..my husband has some investments also.

I have a part time job of 10 hours a week, and trying to start a business (and should it succeed, will never be lucrative). I have no pension.

Myself and husband are mid/late 50s.

I don't expect detailed advise here, given the skeleton outline of details I've given, but feel I do need financial advise. I'd really want to invest money for our kids, so they have a deposit for their own homes a few years down the line. And I know I need to take action on my pension.

There are so many financial advisors out there, I am nervous of who to go to, that is trustworthy and also who isn't steering me to investments form whomever they are getting the biggest percentage pay out from.

Any advise?
 
monkey0804 said:
my husband has some investments also
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What type of investments?
monkey0804 said:
trying to start a business (and should it succeed, will never be lucrative)
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Would it be more lucrative if you invested more in yourself? Will it acquire a sellable value? Your 'pension' could be the business.
monkey0804 said:
I'd really want to invest money for our kids, so they have a deposit for their own homes a few years down the line.
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Reading between the lines, how long do you want to invest for and what risk are you willing to take?

Do you know now that they will both inherit more than their threshold allows?

At the end of the advice process there's usually a product or products recommendation. You don't have to buy them if they don't sit well with you.
 
GSheehy said:
What type of investments?
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The original poster should fill out the Money Makeover template if they want constructive feedback here.

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It can be difficult, but please try to use a meaningful title in your thread For example "27 year old with mortgage arrears". You will get a much better and much more coherent answer if you give as much information as possible in your first post. For example, if you give your mortgage rate, it...
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At the very least it will help them to make more informed decisions if/when they subsequently consult with an independent professional financial advisor
 
Thanks folks for the feedback - I was not looking for specific financial advise here, but was laying out what we have and where I want to go, and was hoping to get advise on a reputable financial advisor for us to go through the all details with.
 
There are several financial advisors who post regularly on these forums, who clearly say in their posts their email/contact details. So read past threads and from their posts you should get an impression of their reputability and if their type of advice would suit you.
 
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