I am 53 and want to start SIPP

[JuJulemon]

I am looking for a SIPP with regular contributions of £25-£50 per month and low maintenance fees. On top of the regular contributions, I am also going to put as much money as I manage to save up every year.

My research has brought me to AJ Bell Youinvest, so I am about to sign up. Or should I look around more...??

My brief background:
I pay a state pension in the UK and in my home country (so two state pensions). I have £20k savings (ISA). My husband and I own a flat in London (still paying for the mortgage). He has his own private pension pot and investments. I have been a housewife for a long time, so I have nothing other than state pensions, hence panicking now.

Any advice would be greatly appreciated.

I think the Vanguard funds offered in the UK are more expensive than the funds offered in the US too - so the combination of higher platfrm fees and higher fund fees makes Vanguard less competitive but they’ve got a low cost reputation so people often trust that without checking and comparing. Small differences count over 40 years.

I know it's a long-term investment, but I'm not doing well at all... Grrrrr.

It's been 2 weeks! (And probably includes a deduction for trading fees).

Don't keep watching it. Look no more than once a month. Ideally twice a year.

(Just checked and if it was Dodl you chose in the end then ignore the bit about trading fees. But still, 2 weeks. Investments need to be considered over 5 years plus.)

Don't panic. Investments are for growth over the longer term.

For UK investors an issue at the moment is that the US dollar is weakening and Sterling is strengthening. These currency exchange rate fluctuations are causing some volatility in the value of portfolios denominated in US dollars.

It doesn't necessarily mean there's a problem with the underlying investments. It's just part and parcel of the global nature of investing.

FX movements are having a bumpy ride due to political uncertainty and US economic policies. Past trends suggest these tend to even out over time. It's another reason to bear in mind these are long term investments.

It is possible to buy investments which don't fluctuate with exchange rates (hedged), but these do incur greater fees. Over the longer time frame it is likely additional fees will dampen fund performance (possibly to a greater extent than the effects of exchange rate movements).

This will happen. You just have to switch your mindset and accept that on one day you will have less and then on the next day you may have more. It means nothing unless you need the money immediately.

Ignore for the next month and then check in.

Out of interest, what are you actually invested in?