Moneymakeover Retired parent, inheritance, best way to maximize the money?

H

Honestly

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Personal details - all for my mam
Mam's age: 66
Number and age of children: me age 40, sibling age 35

Income and expenditure
She is retired, gets 495 weekly from two pensions
My bro is living with her temporarily while he renovates his own house, and he pays 100 weekly, this will realistically be for one year at most
She doesnt over spend but she is not saving

Summary of Assets and Liabilities
Family home value: 315k
Mortgage on family home: 0

Cash: 10k
Due 90k in inheritance in the coming weeks

Other borrowings – car loans/personal loans etc
No loans, owns her car, pays off any credit card debt etc

What specific question do you have or what issues are of concern to you?
I think my mam should spend 10-20k on home improvements (she moved to an apartment 2 years ago that would benefit from a new bathroom and kitchen), and keep 5-10k on hand (in addition to the 10k she has in her current account - this helps her feel 'safe'), and put the rest in bonds or long terms savings. Maybe 50k in a 10 year fund, 20k in a 5year fund etc.

If I dont give her clear advice and suggestions, the money would just sit in her current account for as long as she lives, occasionally being dipped into, and definitely not being protected against inflation. She doesnt want/need something high risk (ie no investing in stock markets) but definitely would be great to be clever about the inheritance.

I also heard the gov is considering a saving scheme again. Any and all advice would be great.
 
Neither of us know anything about investing in stock markets, the risk, and I think she'd panic if she put >50% of her income into the markets and didnt have relatively easy access to the cash. I suppose that bit is critical context, she's low appetite for anything complex
 
She's just retired, the kitchen and bathroom are 10-15 years old, she's hopefully gonna live there independently for 20ish years. I think investing in a nice modern bathroom and kitchen will benefit her quality of life a lot. Mind you, I am encouraging her to spend on something really nice and to her tastes, and specifically customised to the small spaces she has. She is much more 'buy it in ikea and get my bro to install it' and spend less. I dont really care what she decides once she is happy.

Mostly, I dont want her to have 100k sitting in her current account, which would happen if I didnt do some research and make it straightforward for her.
 
Honestly said:
She's just retired, the kitchen and bathroom are 10-15 years old, she's hopefully gonna live there independently for 20ish years. I think investing in a nice modern bathroom and kitchen will benefit her quality of life a lot. Mind you, I am encouraging her to spend on something really nice and to her tastes, and specifically customised to the small spaces she has. She is much more 'buy it in ikea and get my bro to install it' and spend less. I dont really care what she decides once she is happy.
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If they ever propose taking a holiday make sure they first itemize the expected benefits from the expense!
 
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