Investing a redundancy payment boosting your pension. 1 enjoy some of it now.
What you do next will depend on the likelihood of you finding another job or being out of work for.
How to invest redundancy money. Making the most of your redundancy pay. Split it 3 ways. But how can she secure her pension and help her.
The best initial home for any redundancy lump sum is a top paying easy access savings account. Use your lump sum as regular income. 2 put some of it away in relatively short term savings e g.
Remember that only the first 30 000 of your redundancy payment is tax free. Unless your redundancy package is very substantial you probably won t be able to afford a property in cash. However there are a number of strategies such as paying off your own mortgage and starting another or buying a home that needs renovation and sprucing it up for rental purposes.
Before contemplating investing in shares or anything else you should. First things first check all the money is yours. How best to invest my redundancy payout.
The redundancy payout is no small amount to be considering and you will have quite a few options given your age and circumstances. Linda mckay of this is money replies. There is no exact answer bank managers investment agents will of course advise you to invest with themselves.
If you are expecting. Money spend save wealth check. You can work out your statutory redundancy pay using gov uk s calculator.
We could all understand the. Finally remember its your money you worked hard for it. Using a redundancy payment to pay off your debts.
Paying into your pension. Credit union 3 the remainder in long term only if you want. Keep up payments on essential extras.
Having taken early retirement susan now has a pound 20 500 lump sum.