Investment Advice Please

Chrisuk78

I have roughly £20k in savings which i'm hoping will help me make my next step up the property ladder in the next 1-3 years.

I currently have some in an ISA and some in a savings account.

I'm looking to get the most out of my money while i'm still saving, and if I could get some income and some capital growth that would be great (not asking much am i lol).

I've had a few ideas

- I like the idea of the stock market. Dividends and capital growth, but wouldn't want to risk all my capital
- I thought about paying some of my current mortgage off. I like the idea of reducing my current repayments, but dont know if this would be the most efficient use of my capital.

Any tips/ideas would be appreciated.

Thanks

A_Flock_Of_Sheep

Old Careful Mutton Chops here says don't put more than 50% of your cash asset in S&S. But I have read "advice" that says ensure you have 6-12 months take home pay as savings and then "invest" the remaining.

Old Mutton Chops here likes Equity Income, Infrastructure and Bonds!

dunstonh

- I like the idea of the stock market. Dividends and capital growth, but wouldn't want to risk all my capital

With your inexperience and very short timescale, investing would be a very very high risk thing to do.

You would avoid investments full stop and stick to savings.

A_Flock_Of_Sheep

dunstonh wrote: »

With your inexperience and very short timescale, investing would be a very very high risk thing to do.

You would avoid investments full stop and stick to savings.

Yes I never registered the short time scale.

Perelandra

What interest rate do you pay on your mortgage?

Sanchsoot49

dunstonh wrote: »

With your inexperience and very short timescale, investing would be a very very high risk thing to do.

You would avoid investments full stop and stick to savings.

Good advice here. The short timescale you specifiy makes it a no go for investing. Not enough time for you to recoup your losses should things not go your way.

atush

Depending on your mtg rate, you might be better off overpaying your mtg, raising your equity and lowering your LTV to help you move up that ladder.