I realise this is such an open ended question and when I say advice I understand its just an opinion, I realise the dangers & pitfalls I’m a very cautious person, I was just wondering what others might look at in our position.
My wife & I have come into some inheritance and we are trying to think the best way to invest, I’ve just turned 60 with 3 small pensions, my wife is only 57 with a government pension (education), only paying in about 15 years so again not huge. We are going to see a pensions advisor who can also possibly advise us of how best to go ahead & apart from placing lump sums into our pensions. managing the money for investment income.
I have a Freetrade account with 10k Stocks & shares ISA I’ve been dabbling with for the past year & a bit but it’s a different ball game to investing for our future 
Although I have read a few posts on people managing large investments themselves. Then there is property etc etc. Just wondered what advice people here might say? We also have ISA’s we have maxed this year & will again after April.
Apart from the bulk of inheritance money to invest we still have a mortgage to settle.
We have a mortgage of 43k, with 4 years left to go, it would cost us 3k to settle the balance , so we was thinking rather than pay it all off now can we invest the money & pay off the maximum each year till we can settle the final amount without a repayment charge or fee’s, the bank still get interest but at least we can minimise the cost.
We worked out paying off 10% per year until 2025 we can reduce it to £31700, the interest during that time will cost us £2273. However if we invest the £43k in a fixed interest account for 4 years it could earn more or less the same amount if not more. (top current 3 years fixed is 1.9%).
We’d have to juggle money a bit as we would need on average £4k per year to overpay the mortgage but that’s only the next 4 years. even if I put those amounts in 1, 2 & 3 years fixed we would be left with £30k to lock away for 4 years.
Does this make sense? What stock options might be a better bet with low risk?
One question I was wondering if interest rates are to go up this year is it sensible to lock away so much money for 4 years? ( 3 years was same value as 4 as far as I could currently find) or gamble with 1 or 2 years fixed hoping to switch to a higher one next year? Best 2 year was 1.6% (thats still higher than our mortgage interest.
It does mean waiting another 4 years to pay it off but the money will be committed to it and it’ll hopefully save us around £3k …
Appreciate any thoughts, I tried to keep it short, hopefully that all makes sense, especially on where best possibilities to invest.
Thanks