I would like to have a diverse portfolio including buy-to-let flats and different investments. Any tips?
25 October 2022
Question by Liam
I’m due to inherit £150,000 and a 4-bedroom house, mortgage free. I’m planning to put £16,000 into my Stocks and Shares ISA and £4,000 into my Lifetime ISA. Therefore, I have £130,000 left. What should I do with the rest of the money? I would like to have a diverse portfolio including buy-to-let flats and different investments. I have a work pension. But I’m a bit skeptical about a private pension due to the drawbacks associated. I earn approx. £24,000 before tax. Any tips would be greatly appreciated :)
Answered by Boring Money
A diverse portfolio is a great idea.
Are you looking to buy a rental property outright or with a mortgage? This will determine who much of the £130,000 is available to invest elsewhere.
What are the drawbacks of a personal pension you are referring to? They are one of the best ways to invest.
If investing for the long-term, have a look at funds which will give you a globally diversified equity portfolio, that you can put your money into, and not think about for many years.
I hope it helps!
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Chartered Financial Planner