What to do with 1K and £150 a month I can save

[RosehipOil]

I currently have £1K in premium bonds that are doing NOTHING. I have never won a sausage for 2 years.

After all my expenditures I have £150 a month I want to invest long-term (15 years) until retirement. I already put as much as I can into my pension so cannot do anymore with that.

So, I want to invest £1K and then direct debit £150 a month into whatever I choose every month.

Can anyone recommend a good investment to do this? I know it is not a lot of money. I just want to do this "for me" instead of blowing the extra money on crap.

Have you looked at opening a Stocks & Shares ISA?

Is this in addition to an emergency fund?

Having quick access to money is useful, whilst it may not win, at least it is safe in Premium Bonds.

The monthly amount you could put in to S&S ISA if you are looking to invest for at least 5 years. You could add to a pension.
ISA is more accessible. Pension gets tax relief on way in but taxable on way out (there can be part of it tax free).

What would you invest in? Global equities are popular, or a mix of global equities and some bonds/gilts if you want a slightly smoother ride.

Do some reading/listening about investing.
Some books/audiobooks:
The Simple Path To Wealth - JL Collins.
The Meaningful Money Handbook - Pete Matthew
Reset - Andrew Sawyer
How To Own The World - Andrew Craig

LISA if it’s really for retirement, S&S ISA if you may want access sooner

Thx everyone.

We have an emergency fund and my DH's salary covers everything. We both agreed that the earnings I have from my p/t job will go 80% into my pension and the rest invested.

I am playing catchup as I lived overseas for 16 years and I was a SAHM following that for a while. I bought as much as my state pension years as I could and am now paying NI.

Aren't stocks and shares taking a nose dive at the moment?

FTSE100 is up more than 10% YtD and FTSE 250 more than 12%

As long as you have a diverse portfolio and are in for long term (5yrs +) any short term losses shouldn’t be a concern

Stocks & Shares are probably your only realistic option. But the problem with £150 per month, is thats its not quite enough to diversify and still make a decent absolute return.

You should do your own research and consider putting the £150 per month into a thematic ETF or Fund that you like the risk v reward ratio of. Maybe in either a SIPP or S&S ISA.

(To give you an example, im currently investing £xxx per month into Allianz Global Artificial Intelligence Fund, in a S&S ISA)

Just a word of warning that I found out today. If you do monthly investments via Hargreaves lansdown there's a monthly charge of £1.50 on top of the platform fee for buying ETFs or shares, but funds are free.
I don't think it's too little to invest at all. Try these results from a compound interest calculator -
£1000 initial investment
£150 per month
15 years
7% annual return
Increase with inflation at say 3%

= £59,925.60
Almost half of that is interest. Sure you could get smaller growth - or larger - but it sure beats the virtual certainty of losing money in premium bonds relative to inflation.

@RosehipOil

Aren't stocks and shares taking a nose dive at the moment?

I literally just read that here But if they are, then keep an eye and be ready to buy when they crash.

I have £300 in PB and never won a sausage. My dad wins all the time! Meh.

Try this: www.boringmoney.co.uk/isas-pensions/isas-pensions/

It will help you compare the options. There are filters you can use to narrow down to the ‘easy’ options - these are basically diversified portfolios that do it for you, rather than having to pick different funds yourself. It won’t be the cheapest or the biggest return, but it will be a sensible approach without putting all your eggs in one basket (eg by just putting it all on UK equities)