Inherited money, what to do?

R

Rouge

Guest
Hi,

I'm in my early twenties and will soon be inheriting money. After I treat myself and pay off a loan, I will have approx €40,000.
I'm hoping to use this money as a deposit on a house. I have just entered the world of work so obviously don't have enough money to get a mortgage just yet, so I wish to save the money til then. I am pretty risk adverse and am financially competant (I just finished a degree in Financial Maths, but this doesn't help all that much in the real world!).

I'm looking for advice on what I should do with the money. I know I could just stick it into an account and get 4%ish, are there any better ideas? I don't want to commit to an overly long term as I am in a good career and hope to be able to afford a mortgage in the next few years (well 5ish, hopefully before!).

I'm pretty clueless when it comes to other products so I would appreciate advice.

Thanks!
 
You might be better off talking to a dedicated independant financial advisor for specific options, but you'll find as you get used to this site it's a mine of information.

There are plenty of existing threads in the savings and investment forum.
 
Just a few quick pointers:

Do not rush into anything or invest in anything you don't fully understand.
It is OK to earn 4% ish until you find something you like.
Consider averaging into investments to reduce your risk.
Do not take advice from your bank - they are tied advisors and will only sell their own products, not what is best for you.
 
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