Benni

I'm in the process of Suing the N.H.S And at first i was apparently going to get like £250,000 which would of been fantastic. I could of hand a nice car and a decent house and seen my parents out of all there debt. Sadly the claim has become complicated as the fact that i've got brittle bone has complicated it and now i've been told to expect about £70,000. Not much for what i've been through but it's still alot of money. I'm in the process of becoming fit enough to return back to college. And like most people in the world i want to be rich. I wont get my compensation for a few years yet as it takes a long time apparently altough i've been told there's no reason why i wont get it as they have admitted liability for medical negligance and my solicitor has more than enough evidence.

The money has been playing on my mind for days, And what i'm going to do with it. The last thing i want to do is waste it and then in ten years have nothing to show for my money. Or should i just blow it and have a good time? Altough i think my family would disown me if i did that. lol

Cheers benni.

GazzaG

Focus ST is a start

Benni

I'm not for cars to spend it on mate, Want some ways to invest it etc.

MikeR

Take a little and enjoy yourself with it, buy a decent car but not a bloody ridiculous car and then invest the rest because unless you go on to become a seriously well paid individual you are unlikely to see such a lump sum of cash for a the rest of your life unless you lose a family member that leaves you alot so this could be your gloden chance to set your self and the right road

Mike

Benni

Captain Mike Cheers mate, As for cars i kind of would like to buy a decent car but i get a free motability car so might aswel save my money if i can say that without sounding a tight arse.

cheeky dog

Benni

if you waste that on clearing debts and other rubbish u'd be a monkey.

i need a big loan and would make mills from my flawless business plan.

take the time ur waiting for the doe to think of some serious money making scheme. DONT DONT buy a car or house, unless the house is for profit but u need serious experience to get money of a house qwick cause other wise a long wait to see profit.


clear debts and buy cars when ur making some back live normall for as long as u can until u see some flow

Charlie Chalk

iTrader: (1)

You'll regret blowing 70k, Although it'll be bloody fun...



Put it into a house or a savings...

MikeR

There is nothing tight about it Benni, make hay whilst the sun shines, listern to people's advise take it in and then make a decision that you are happy with, this sounds like a chance to set yourself up for a long time,

Self made millionaires have started with a damm sight less then £70k

and remember you will only get that 70k once

Mike

THEYGOTMETOO

IMO; forget cars (unless you want to loose money), forget spending it on any other flash crap you'll be tempted to buy ... put that money into property. At the moment and probably even more so in a few years time, you would be mad not to.

paul16v

Ive got quite a big claim going on at the moment and im also looking at a similar amount of money to you, im looking at buying a second propery when mine gets settled, all i can say to you is be wise with it its easy to go wild and spend like its going out of fashion but having not worked for nearly 3 years since my accident ive learned the meaning of money, basically because ive had fook all for 3 years going from a well payed job to £90 a week

Benni

Thanks for the advice people, Some top advice.

smitsturbo

you cant realy go wrong with what he says cos at the end of it you too could step out your front door & be looking at the back of a ferrari & a 3 dr

Benni

I've only ever wanted one car since i was a kid, When my dad went to pick his escort up from fords there was an escort cosworth outside and it was new as far as i can remember. And i've been in love with them ever since.

Fastmaul

Not sure how it works out over there but, is that money after you pay your lawyers fees?

Benni

Yes Mate.

dojj

iTrader: (3)

get down the bank and find out if you can get a mortgage

i was told that, if i was registered disabled, it would be difficult, and seeing as you'll get motability, you might be in the same position

if you can get a mortgage stick it all into property, if you can't, buy a house you can afford somewhere in the sticks, the prices are only going to go up and it will be a source of income if you rent it out

Redkop

Make an appointment to see a Financial Advisor and he will tell you the best way to invest or save your money.

Pittsy

buy a house best way of investing if u ask me

Porkie

iTrader: (1)

Not always! sometimes they will tell you the way that earns them the most commission!

Personally I would use £50k of it as a large deposit on a flat or small house. Then rent it out.

keep £10k back for a rainy day like having to paying morgage if your property stays empty and enjoy the other £10k with some sensible but cool purchases or a nice holiday.

gingeRS

buy a house, or part of one

you will never see a lump sum like that for a long time, and i for one am pretty fed up knwoing that i cant buy one where i live, and will have to rent for a long time coming.

buy somewhere to live

AlexD

iTrader: (3)

BUY A HOUSE !!!

Best thing you can do with it or........

Buy 70k's worth of euro millions tickets and hope to win !!

orionmojo

iTrader: (1)

take a few K, and go on holiday. and i mean a proper blow out holiday. firstly THAT must be done whether that might be las vegas, ibiza, or blackpool pleasure beach. whatevers your thing, just do it.

then invest. if you didn't want to buy a house,you might want to invest in a business who need some help starting out. if you put 10k in for a share i the business, but the time your 30 and you havent even missed the money, it could be worth double. someone else has mentioned a finincial advisor, i'd definatly go to one of those and ask about my options.

and good luck to you with whatever you do with it

Cawood

PROPERTY! buy a house with it, best way to invest IMO

topaz

iTrader: (1)

spend a bit on yourself, put rest of money in a flat/house

SapphyMike

As said, Property is the best way of keeping the money.

its unlikely house prices are going to go down. I intend on getting several over the next 5 years and rent them out, so that I have something useful later on in life, as opposed to a pointless pension.

Sure enjoy yourself as well - no point having a large sum of cash and not using some, but dont use too much.

However, as you may not be seeing the money for a few years, then priorities and life might be different for you by then, so in some ways, asking this question is a tad pointless, as you may also forget whats been said.

S3an

i received £250k from a serious RTA, then the wife filed for divorce so ended up having to buy a new house, bought my escos which both have seen atleast 140k of it off. but now i think well i can get the escos money back without loss(hopefully) and the house is worth about 40k more than i paid for it so no worries. just in the process of looking into investments. as the saying goes spend a little and live alot. now im self employed and earn a decent wage to live. spend some mate as you never know whats round the corner. as for cars etc:

i bought the car i always dreamed of having and not the car everyone else wanted me to buy. if i had bought a new evo,m3 or summet every one wanted me to then the depreciation i would have lost could have paid for my escos. plus id still be stuck with a car that i didnt really want.

can talk on msn if you need to talk to someone about things(beleive me it helps)

Lamb Souvla

Agree 100%
You win in all areas, you get a big deposit for a house, get £10k in the bank and blow some on urself

Eagle

iTrader: (2)

cant flaw lee's comments one bit mate .. property is the way forward

charlie luciano

iTrader: (3)

Do the wise thing bruv and put most of it towards a property or invest it where it will earn you money



Luciano

Redkop

How can he use it for a deposit, when he'll have no income, nor the funds to pay a mortgage being a student?

S3an

this is just a example mind: i looked at putting £40k of my money into a 5 year investment from the haliax BS. these investments guaranteed all of your money back with just the interest put at risk.(no get out penalties or start up fees) to put in a medium high risk investment the return on that money after 5 years was £54k and put into a 5 year bond thing with a 5.25% interest rate the return was just over £49k in 5 years. just a though for people.

Porkie

iTrader: (1)

Didn't read he was a student Maybe he could get a joint morgage with his parents.

I am sure someone will lend him the money if he explains its a buy to let and that the tenants will be paying the morgage and not him.

There WILL be a way of getting some property on board and it really is the way forward in my view.

alistairolsen

student mortgages are the way forward, Ive got a 78k mortgage on a 90k property and my parents took liability for 13k if I cease to pay.

Took it out 2 years ago at 18 and still think it was one of my better decisions in life tbh

(Thats with the Royal Bank of Scotland BTW)

RichardPON

If he has enough for a 15% buy to let deposit, some companies will take his parents as guarantor on the mortgage.

vroomtshh

Ok heres what you do.

Look for upcoming building developments, and get in there early and buy the first house. To do this you need to put down a deposit (5% is normall plenty) And hold onto that house until the rest of the houses in the development are built. Then sell yours at anywhere between 10 - 20k more than you originally paid for it.

And heres the best bit, you'll never have to take a mortgage or pay for the house in the first place (apart from your deposit). Building companies dont expect their money until the house is completely finished to your satisfaction. So you just give them snagging lists until the rest of the houses are built and you have sold the house on.

AustenW

Put it in to as many buy to let mortgages as possible.

You will need to put up 15% upfront as a deposit on the property value.

It shouldn't matter what job if any you have if they are buy to let as long as you can prove the income from the rent will cover at least 125% of the repayments.

With £75 k you will be able to buy £500'000 worth of property.

Lets call it 5 x 2 bed semi's

You can rent them out for at least £430 per month

£430 x 5 = £2150 per month which will pay of your motgages with a little change left hopefully.

After 15 years your all payed off and can retire on the income

Hey presto.

I currently have 12 properties which I rent out doing this

6 are already paid off too using this method

Cheers

Austen

Shorty

iTrader: (1)

As alot of people have said, property...

As soon as i have enough money, that is what i want to get into...

Paul_RS

iTrader: (4)

Property mate - its an easy way to make money.

xr2i-carl

if i am going this route looks like the cars will have to go

xr-stu

i dont think evryones being quiet realistic about this, im 20 and i can assure you i wouldnt just put all of it into property, wheres the fun in that?!

personally, id take 10 grand, give some to my parents to go towards paying off their debts, 5-10k. put the rest in a high interest investments account somewhere where itll earn you most money for doing fuck all.

take my 10 grand go on a massive bender with all my mates for a week or so! maybe take em to prague or somewhere in eastern europe, hire out the hotel and pay for a free bar for the week. when the hangover had worn of id buy myself a rucksack, some decent cloths, 1 man tent and a sleeping bag and travel the world. probably start off in europe, train/hitch hike across europe towards the middle east as far as you feel safe, fly to the east, see china, japan, thailand. then onto australia, the northern coast until youre looking at the pacific. fly to southern america, chili, peru, brazil, then to mexico, up into california, across the states to new york, down the east coast to florida, then back to uk.

maybe spend 18months+, stopping for a while in different places, doing some cash in hand work now and then, meet people, see things, enjoy different cultures, take as many pictures as i could. would be something to remember for the rest of your life!

get back to the uk, with 50 grand + the interest sat waiting for me, and start up a business of some sort.

no way would i sit in college/work while some twat lived in a house that belonged to me, bored and thinking how else i couldve spent my money. use it for something interesting, so you can look back when your 60 and think FUCK YEAH! i did some crazy shit!

youve got an oportunity 99% of us never will have, so use it! forget about getting the maximum posible returns for it in 10 years or whatever, fucking use it! money cant buy happiness, i personally would value my experiences and memories more than having an extra 0 on my bank statement when im 40....

you only live once fella could invest it and get hit by a bus next year. or you could have the time of your life, see the world, experience some crazy shit, then get hit by a bus! i know what id rather do! live the dream man, fuck it!