Seeking Investment Advice for Upcoming Inheritance

M

Mettmo

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I’m looking for some investment advice regarding a €230k inheritance I’m about to receive. My wife and I would like to invest it long term. Her risk appetite is high, mine is medium to low. We won’t need to access this money while it’s invested, but would like options to do so should the need arise.

Our current position is I’m retired on a reasonable pension. My wife is still working on a 3 day week and is 3 years from retirement. Her pension contributions are maxed out in terms of tax relief for now. Her pension fund value is €580k. Our joint income meets the family needs and leaves a small amount for savings. Mortgage is paid off. One child is working and still living at home. Other child is about to start college and will continue to live at home. Bulk of the 4 year college costs are already saved.

Any advice would be appreciated.
 
You should probably do a Money Makeover in order to help others to offer useful feedback.

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I think the first question you need to ask yourself is what are you investing for?

Will you use the inheritance to supplement your retirement income and, if so, over what anticipated time period?

Or will you be investing the money for your kids and, if so, do you plan to gift the money to your kids at some point or leave it by way of an inheritance?

Once you have a rough idea how long you anticipate that the money will be invested, you can start to make better decisions as to the appropriate asset allocation.
 
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