General Advice - I'm Clueless!

Interested!
Interested! Posts: 12
First Anniversary First Post
Forumite
edited 25 June 2017 at 8:36AM in Savings & investments
I’m 38 yrs old, earn 30K.
Have £56K left to pay on my mortgage (1.2% tracker) (approx £150K equity in house)
Have been paying into public sector pension for nearly 20yrs.
Have £27K in a selection of “high” interest current accounts
Have £15K in Legal & General International Index i trust acc (stocks & shares ISA)
I’m considering putting £20K (this years ISA allowance) into S&S ISA – what funds do people suggest - I was thinking of Scottish Mortgages Inv Trust as it seems to perform so well, I’d be grateful to hear your suggestions, I’d like to keep things simple to manage and think I can cope with a moderately high risk profile.
Would like to (semi)-retire at 50, that’s what I’m saving for!
Any other guidance/suggestions welcome.

Thank You

Comments

  • Audaxer
    Audaxer Posts: 3,506
    First Anniversary Name Dropper First Post
    Forumite
    I’m considering putting £20K (this years ISA allowance) into S&S ISA – what funds do people suggest - I was thinking of Scottish Mortgages Inv Trust as it seems to perform so well, I’d be grateful to hear your suggestions
    Yes it has performed very well, but doesn't necessarily mean the value will continue to rise. I personally wouldn't put all my allowance into one Investment Trust.
  • Linton
    Linton Posts: 17,066
    Name Dropper First Post First Anniversary Hung up my suit!
    Forumite
    Scottish Mortgage is very high risk but not in the sense that it might go bust and lose all your money. It is highly volatile. It performs very well in the good times, like now, but fell about 60% during the 2008/2009 crash. It recovered back to his previous high point within 3 years.

    So if your nerves can stand the ride it could be a very lucrative good investment. Perhaps you would prefer to split the £20K berween your current global fund and Scottish Mortgage.
  • atush
    atush Posts: 18,719
    Name Dropper First Anniversary First Post
    Forumite
    i like SMT too, but agree you should not just invest in one trust.

    In your case, if you expect you will want to retire before your DB pension pays out in full (unreduced) then i would also look at AVCs or a PP/Sipp.
  • System
    System Posts: 178,077
    Photogenic Name Dropper First Post
    Community Admin
    Another fan of SMT (although it is less than 20% of my portfolio), but it now trades at a small premium and I would consider other global investment trusts such as Foreign and Colonial or Witan, which are somewhat safer choices.
  • atush
    atush Posts: 18,719
    Name Dropper First Anniversary First Post
    Forumite
    Well i am a fan of both of those, as I own both lol. but yeah, they'd be good diversification from SMT.
This discussion has been closed.
Meet your Ambassadors

Categories

  • All Categories
  • 342.5K Banking & Borrowing
  • 249.9K Reduce Debt & Boost Income
  • 449.4K Spending & Discounts
  • 234.6K Work, Benefits & Business
  • 607.1K Mortgages, Homes & Bills
  • 172.8K Life & Family
  • 247.4K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.8K Discuss & Feedback
  • 15.1K Coronavirus Support Boards