Help getting started with S&S ISA

[loopyloo30]

I am 55 this year and well aware that I’ve probably left this all a bit late but I’d like to start a S&S ISA and can afford to invest £50 a week.

Ive no experience at all and no idea how to get started but im aware the clock is ticking.

Do I need to speak with an IFA or is this something I can do on my own?

thank you for any advice.

You can do this yourself, you only really “need” an IFA if your situation is complicated (e.g. lots of different pots, planning retirement withdrawals, big tax issues, dependants, or you want a personalised plan and someone to take responsibility for the recommendation).

For most beginners starting with £50/week, a sensible DIY route is:

• Make sure you’ve got an emergency cash buffer and any expensive debt under control.
• Pick a Stocks & Shares ISA provider/platform (an “investment platform”) and set up a regular direct debit. MoneyHelper explains the routes and what to watch for.
• Keep it simple and diversified to start with (many people use a low-cost global tracker fund or a ready-made multi-asset fund, depending on risk appetite).
• Watch the charges (platform fee + fund fee + dealing fees) because they matter a lot when contributions are small. The FCA has highlighted that charges can be hard to compare, so it’s worth checking them carefully.

If you’re within, say, 5–10 years of needing the money, an IFA (or at least a one-off advice session) can be useful to match risk to timeframe.

If you want a no-pressure starting point, MoneyHelper’s Stocks & Shares ISA guide is a good primer before choosing a platform.

Similar situation OP…I am following!

Good advice from PP

I will say I started mine with £25 a month as I didn't know what I was doing and felt that was money I could afford to lose if it went wrong.

Over time I learned more, moved providers to somewhere cheaper, invested more. Ten years on I have a good nest egg.

If your £50 a week is all your spare money, you're not obliged to invest it all at once.

I’ve recently started investing and have found A J Bell helpful as they have funds based on your level of risk, ie cautious, adventurous etc and you give them the money and they do the rest. They have low fees and it’s very easy to use their website. Other platforms offer similar - Martin Lewis recently did a programme on investing which is worth a watch.

If OP likes AJ Bell, they might find Dodl easier to start with. It's run by AJ Bell and they advertise it as their 'low-cost, little-effort' app.
It has cheaper fees, a more limited range of investments and is very easy to navigate.

I signed up to vanguard. I need to check though as I know their fees went up but it seems to be generating a good return.

I'm going to throw something out there.

Look at a SIPP instead. Self invested personal pension. They run the same as stocks and shares ISA but you're getting the benefit of tax relief on your contribution as well ie 20% or 40% depending on what tax you pay. If youre wanting to lock in this money I'd go that route first but if I want access to monies sooner I'd go ISA.

Have a look at Rebel Finance School on YouTube. Week 6 is about investing.
Vanguard for example as mentioned are good for self investors. With a bit of knowledge yiu can do this yourself and do not need an expensive IFA.