Compound interest

[countingdowns]

Not very educated around money but keep reading about compound interest. How do I take advantage of it? I have a S&S ISA, does that compound interest or do I need separate vehicle?

Advice is always to spread money around - property, ISAs, s&s, high interest savings account - in my time we’ve had a S&s boom( tech companies), a banking crash, a pandemic. Property has risen but where I am over 20 years a property has almost doubled in value but I wonder how much that would have made in the right compound interest account

I have a home but i'm a millennial so don't have huge gains & unlikely to see them. Not interested in a BTL etc.

My ISAs are spread across different funds & I have separate ISAs for the dc.

@Hitchens I'm comfortable with the amount in my short time savings.

I guess I'm thinking about retirement & bridging the gap between when I want to retire vs eligibility & the fact there may not be a state pension etc.

It’s a balance between what is accessible now and in retirement, but pension contributions are generally always the best investment because of tax relief.

If your aim is retirement income then typically s&s ISA would be a good vehicle. You need returns which are better than inflation to get actual growth in your fund.

are you maximising your workplace pension?

@HermioneWeasley I pay AVCs in

You could take a look at The Rebel Finance School. They run a free course for financial education and have just been awarded the British empire medal for doing so.
It really opens your eyes and gives you all the tools you need to make your own financial judgements.
I can't recommend them highly enough. I think it's the sort of thing they should teach in schools.

Thank you I will.

I haven’t read all the responses and someone may have suggested this already. Subscribe to the Donegans rebel finance school on youtube. It is absolutely brilliant. A bit like dummies guide to finance. It will all make sense once you watch the videos.