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  • FIRST POST
    • halebop
    • By halebop 29th Nov 17, 8:32 PM
    • 1Posts
    • 0Thanks
    halebop
    £40k to invest for longterm income
    • #1
    • 29th Nov 17, 8:32 PM
    £40k to invest for longterm income 29th Nov 17 at 8:32 PM
    I've been saving like mad for the last few years, and have just a couple of years left on my mortgage.
    I have £40k saved, and want to know how best to invest it.
    I'm not looking for an instant income, but looking a bit further down the line to hopefully reduce my hours, and ultimately take an early retirement. I'm 34 atm.
    Any suggestions would be greatfully received...
Page 1
    • xylophone
    • By xylophone 29th Nov 17, 10:08 PM
    • 23,628 Posts
    • 13,758 Thanks
    xylophone
    • #2
    • 29th Nov 17, 10:08 PM
    • #2
    • 29th Nov 17, 10:08 PM
    What is your pension provision?
    • Audaxer
    • By Audaxer 29th Nov 17, 10:26 PM
    • 630 Posts
    • 277 Thanks
    Audaxer
    • #3
    • 29th Nov 17, 10:26 PM
    • #3
    • 29th Nov 17, 10:26 PM
    I've been saving like mad for the last few years, and have just a couple of years left on my mortgage.
    I have £40k saved, and want to know how best to invest it.
    I'm not looking for an instant income, but looking a bit further down the line to hopefully reduce my hours, and ultimately take an early retirement. I'm 34 atm.
    Any suggestions would be greatfully received...
    Originally posted by halebop
    At 34 you have quite a lot of years ahead, probably even before early retirement, so I think it would be better investing for long term growth and change to more income/dividend generating investments when you need the income. A suggestion would be to consider passive low cost global diversified mixed asset funds. There is plenty of discussion about these types of funds on this forum and further information about passive investing can be found on sites like Monevator.
    • IanSt
    • By IanSt 30th Nov 17, 10:28 AM
    • 149 Posts
    • 104 Thanks
    IanSt
    • #4
    • 30th Nov 17, 10:28 AM
    • #4
    • 30th Nov 17, 10:28 AM
    It's probably time to start thinking about investing at least some of your money once you have a good emergency fund with about 6 months of salary safely stored in a bank/building society.

    The website monevator is a very good starting point, as is having a look through this forum to see what other people have done.
    Last edited by IanSt; 30-11-2017 at 10:30 AM.
    • atush
    • By atush 30th Nov 17, 12:01 PM
    • 16,371 Posts
    • 10,132 Thanks
    atush
    • #5
    • 30th Nov 17, 12:01 PM
    • #5
    • 30th Nov 17, 12:01 PM
    I agree, at 34 you should be looking for growth and not income at this point.

    And although early retirement i a great goal, you should first fund normal retirement. So what is your pension looking like? What kind (ie DB or DC) and when can you access it?
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