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Where to start?

(6 Posts)
AmeliaFlashtart Sun 03-Dec-17 10:43:27

Mortgage is paid off, savings in fixed term Isa, accessible savings pot, long term company pension which I'm going look into upping contributions again. I've always been risk averse when it comes to money as I don't earn a lot. I can now start to think about paying into something riskier. Not a huge amount, 75-100 a month over 10 years. Can anyone suggest options to think about? Stocks and shares Isa? Anything else?

zillionth Sun 03-Dec-17 19:44:12

Watching this one, in a similar scenario...

cutthegraa Sun 03-Dec-17 19:47:21

We are a bit the same - thinking I need to see an IFA

JoJoSM2 Mon 04-Dec-17 10:50:05

Stocks and shares ISA sounds like a good option. Just pick a diversified fund. Like a global one.

HRTpatch Mon 04-Dec-17 10:52:08

I have a stocks and shares ISA locked away for 2 years. It can't be any worse performing than the cash ISA.

mintbiscuit Wed 06-Dec-17 20:57:06

What are you saving for - retirement or do you need the money in the not too distant future? How far away from 55 are you? The reason I ask is that if you put that extra money into a pension you get tax relief (so the government tops it up by 20% if you are basic tax payer - free money!). If you salary sacrifice that through company pension you also save ni and tax. You don't get either of those benefits from an ISA .

You can also withdraw from your pension at 55 onwards. 25% is tax free.

If you know you will need the money before you're 55 then a stocks and shares ISA might be better.

I'm an advocate of pension first if money not needed as it's the most tax efficient way to save.

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