Is my portfolio unbalanced

sheslookinhot

I have 7k left on my mortgage, expect to be cleared mid 2010. I would like to buy a modest property in Portugal within 3 years. (I am 50 years young)

Currently I have £32,000 in Cash ISA, (22 + 10) and £12,000 in a Tesco acount. I have £10,000 in employer shares. Two small endowments of about £10,000, 3 years to maturity. I have started a S&S ISA with H&L, about £3,600.

Should I continue with the cash ISA's, try and us the full allowance, or swicth to something else, maybe increse payments to S&S (£300 per month at present)

Oh, two teenagers to feed, one starting uni this month and the other is year 4 at high school.

Cash £32,000
Shares £10,000 (with employers)
Endowments £10,000
S&S ISA £3,600 (intention to invest a further £3,000 per annum)


Your thoughts would be welcome.

Masomnia

If you're needing money in the next three years I think I'd give the S & S ISA a miss for the time being. There's always the chance that there'll be less money then than when you started.

What other goals do you have for your money? Is your retirement looking okay?

I think if I were you I'd continue with the cash savings, using up my cash ISA allowance and put the rest into paying off the mortgage. Don't forget that the ISA allowance is going up to £10,200 from £7,200 next April, so there's plenty of opportunity to increase your share purchases later on.