£1m inheritance WOOP WOOP - what to do?

As per the title, father-in-law has passed on leaving his estate to his dau
ghter (my wife).....it looks like the final figure after taxes is going to
be approximately £1m.
Never having had ready access to that sort of money, and not prepared to pa
y greedy financial advisors with self-interests, where to go?
I assume a couple of properties (£700k) will get two decent four bedro
omed new-build houses around here that would command £1k per month eac
h in rent.
Is property a good investment? £24k per annum in rent for a £700
k outlay is 3.5% so it seems good.
And what to do with the remaining £300k?
Reply to
magic091263
with such a large sum of money I think you ought to review this and see what they can offer just don't be prepared to sign up for anything in a hurry (I think you already are in that position)
You need to understand if something that they offer preserves the capital or if it doesn't. Sometimes they are less than clear on this.
a larger number of smaller properties: a) gives a better yield b) will be easier to rent c) will better shied you from bad debts
dunno, is it?
I've left my crystal ball behind.
No, it's rubbish. you need to be looking for closer to twice that.
well you either leave it in cash or you get a financial advisor to find you an equity investment, there aren't really any other options (it's a lot of work managing your own equity picks)

Reply to
tim...
"you either leave it in cash or you get a financial advisor to find you an equity investment, there aren't really any other options (it's a lot of work managing your own equity picks) "
In this example "you" should read "your wife". It is her money after all, not his.
Robert
Reply to
rmlaws54

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