I have always shied away from the stock market. Remembering the crashes over the years. Many seniors lost many thousands of dollars just as they were about to retire.
Today I invested a 6 figure amount into a term deposit at 4.25% for 5 months.
We have someone called ISA in the uk, tax free. But the current government would like to raid ut.
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Hi
What is money?
Divorce is very expensive, it cost me a fortune when she left, half my Pensions , including my Injury Pensions’.
Inheritance Tax is payable here at 40% above a certain limit, varies from £325 to £500k
I will not be paying it, the kids have had the money years ago, so the house will be Tax Free.
You are only allowed to give £3k a year to your kids each year as presents, anything more is taxed at 40%.
You are however able to give unlimited amounts annually from your income provided it does not affect your lifestyle.
I give £900 a month, non taxable, to my son, absolutely legal.
It is worth investigating.
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I invest 60% in term deposits for 12 months and 40% in blue chip shares.
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I don’t invest it’s all spend, spend, spend for me.