Many people get a lump sum at some point in life – perhaps you’ve inherited a windfall, sold your home or have a tax-free sum from your pension. So how can you put it to good use?
Find a safe, accessible account where the money can earn interest while you do more research.
Comparison websites are a good starting point for anyone trying to find a savings account tailored to their needs.
We recommend the following websites for comparing savings accounts:
Complete our Money fact find to help you pin down what you need from your investments.
Sit down, fill it out, and get ready to make a plan.
Savings and investments have to be matched to your needs and goals.
Our money fact find questionnaire helps you pin down things like:
It gives you (and any professional adviser you use) the right information to assess and choose suitable, affordable and sustainable investments.
Avoid unsolicited investment offers.
If you’re considering an investment offer, seek impartial advice.
After completing the money fact find you can pinpoint the investments that suit your needs and Plan out how to use your money.
This is your savings and investments plan.
Compare different funds on the Investment Association website.
This article is provided by the Money Advice Service.