Last Updated on December 28, 2020 by HodgePodgeDays
Have you ever had a lump sum of money come your way and you’ve not know what to do with it? In 2005 I was made redundant and I was given a modest sum of money as a parting gift. I was lucky enough to find a job pretty quickly afterwards and I decided to take my £5,000 and invest it.
At first it stayed in a normal savings account, but after I’d settled into my new job and I knew I wouldn’t need to dip into it to cover my day to day costs, then I spoke to a financial adviser and together we made plans for it.
If you find yourself with a lump sum and you want to do more with it than go on a great holiday, it’s well worth considering investing your money. I’d always suggest you find a financial adviser who you can trust first, perhaps one recommended by a friend.
The adviser will be best placed to advise you on where your money is likely to do best. But for me, that’s not the only consideration. I don’t like the thought of my money being invested unethically. My money shouldn’t be invested in anything which will pollute or damage anything, destroy habitats or exploit vulnerable people. I don’t want my money to be invested in companies and organisations linked to gambling, tobacco, adult entertainment and weapons. I’d like my money to do good in the world and also do well for me. The only way I can guarantee that is to invest with a company I can trust.
I know the £5,000 I invested 12 years ago won’t make me a million; but it might eventually add a zero and help me pay for something big; maybe a decent deposit on a house for my son; maybe it’ll cover his uni fees, who knows what it could give us. Right now, knowing it’s been invested in an ethical way and invested well gives me the peace of mind I need.
Click here to find out more about making ethical investments.
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