How much to lump sum to Ss isa?

catoutthebag

Hi I have a 1k saved from a Ss isa where I was putting in 50 pcm but people said my ifa fees were not worth it and to build up a lump sum.

How much lump sum should I build up?

Or open a diy passive product like vls and continue my 50pcm investment?

Best

innovate

catoutthebag wrote: »

Hi I have a 1k saved from a Ss isa where I was putting in 50 pcm but people said my ifa fees were not worth it and to build up a lump sum.

How much lump sum should I build up?

Or open a diy passive product like vls and continue my 50pcm investment?

Best

Can you clarify please - what did your IFA advise you to do? What are you invested in right now, and how much have you got in it? What is this lump sum about? Who are the people who suggest you should build a lumpsum, what size lumpsum do they suggest, and for what purpose? What does your IFA say about these lumpsum suggestions?

catoutthebag

innovate wrote: »

Can you clarify please - what did your IFA advise you to do? What are you invested in right now, and how much have you got in it? What is this lump sum about? Who are the people who suggest you should build a lumpsum, what size lumpsum do they suggest, and for what purpose? What does your IFA say about these lumpsum suggestions?

Lot of questions there! Have cash and cash isa and personal pension. Lump sum . about? People here said £1k was too low to invest and save up.a few grand to make fees viable and more or less ditto my previous 50pcm

jimjames

catoutthebag wrote: »

Lot of questions there! Have cash and cash isa and personal pension. Lump sum . about? People here said £1k was too low to invest and save up.a few grand to make fees viable and more or less ditto my previous 50pcm

The dangers of asking on a forum for advice! Not sure who said it was too low and that fees were fixed - maybe for an IFA they are but not if you are DIY.

Most fees are percent so doesn't matter if you put in £50 or £5000.

If you have the money each month I can't see any point holding it before investing. £50 per month is certainly a level that most platforms will allow - they generally don't go below this though.

innovate

catoutthebag wrote: »

Lot of questions there! Have cash and cash isa and personal pension. Lump sum . about? People here said £1k was too low to invest and save up.a few grand to make fees viable and more or less ditto my previous 50pcm

If you answer the questions I asked, I will try to post a constructive answer.

catoutthebag

innovate wrote: »

If you answer the questions I asked, I will try to post a constructive answer.

If you read my op and then the firing off of questions from you (some of not much relevance), you will find that I answered your questions

Think I'll go down vls at 50pcm thanks jimjames

jimjames

catoutthebag wrote: »

If you read my op and then the firing off of questions from you (some of not much relevance), you will find that I answered your questions

Think I'll go down vls at 50pcm thanks jimjames

Glad it was of use but it would help to answer the questions from innovate - I can't see any of the answers in your post.

innovate wrote: »

Can you clarify please -

what did your IFA advise you to do?
What are you invested in right now, and how much have you got in it?
What is this lump sum about?
Who are the people who suggest you should build a lumpsum, what size lumpsum do they suggest, and for what purpose?
What does your IFA say about these lumpsum suggestions?

catoutthebag

jimjames wrote: »

Glad it was of use but it would help to answer the questions from innovate - I can't see any of the answers in your post.

1) on what issue? The Ss isa I had with him or currently? Nothing really. I have a pp with the ifa (SW) and decided to leave the Ss isa because after highlighting my fees in an earlier thread people said the 50pcm was too little due to the cost I was incurring and to either increase the amount pcm or build up a big lump.sump to invest and that the lower cost passive route with vls or similar would be more coat effective with the 50pcm investment

Whoops think I answered everything in one rather than breaking it down

Only pp and cash isa and cash savings

I didn't really ask the ifa but he mentioned he dealt with clients investment lumps of 5 figures generally

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So not sure whether to put 1k into a diy option like vls and 50pcm

Or save 50pcm in cash til I have a bigger lump.sum. (3,4,5,?) and then invest?