My adult children will (each) inherit £10,000 soon. I want them to invest it fairly safely. What should they consider?
11 January 2022
Question by Peter
My 2 (now adult) children, will inherit £10,000 each in the near future. I want them to invest it, albeit fairly safely.
What should they consider?
Thank you very much.
Answered by Boring Money
Thank you for your question.
Your two children will need to do some research. Although I cannot provide advice, the information below might help.
Investing should be long-term, so 5 years+. If they plan to use the money before this, investing might not be ideal. There are lots of platform options on the market, many of these rated on Boring Money. This works if your children are hoping for DIY investing. The actual investments will depend on their goals and risk tolerance. Normally a globally diversified fund is a good starting point.
They could speak with a financial adviser - see this section of this website with myself included on here. However, they may struggle to find an adviser for that level of funds. Some advisers, myself included, can charge a fixed fee for one-off advice.
Hope that helps for now.