31, no pension and concerned

atush

What % is your Debt? And what % i your savings getting after tax?

Most times it is best to pay off debt if it is costing you more than your savings is getting you. and do you really want to wait 9 months before starting?

Do a spending diarly and list every pound you spend ANYWHERE. It will open your eyes as to the best way to cut.

Or go to the Bdget or Deft free boards and post an SOA. You are obv wasting money somewhere, I assume you know by what you said it is probably being frittered away on take outs, socialising etc.

So cut back on some of that, but still keep some set aside for fun, and off you go.

adonis10

Tango130 wrote: »

Pay your debt off now and save all that interest your throwing away.

Interest free credit card. :beer:

atush

adonis10 wrote: »

Currently have a Virgin All Share Tracker S&S ISA. Opened it a while ago, then had a dip in earnings so didn't invest anything but have now started to top up £50 a month, as a starting point.

Any thoughts on this fund?

UK only so global would be better or spilt ongoing money into the allshare and a global.

As for virgin, I am sure there are cheaper class C trackers?

atush

Tango130 wrote: »

Pay your debt off now and save all that interest your throwing away.

Yes, yes , yes yes. I said that as well (we cross posted) silly to have debt while saving at a paltry interest rate.

adonis10

atush wrote: »

What % is your Debt? And what % i your savings getting after tax?

Most times it is best to pay off debt if it is costing you more than your savings is getting you. and do you really want to wait 9 months before starting?

Do a spending diarly and list every pound you spend ANYWHERE. It will open your eyes as to the best way to cut.

Or go to the Bdget or Deft free boards and post an SOA. You are obv wasting money somewhere, I assume you know by what you said it is probably being frittered away on take outs, socialising etc.

So cut back on some of that, but still keep some set aside for fun, and off you go.

Debt - 0% until Aug.
Savings - varies between 4% and 0.5%. I'm channeling as much as poss into the higher interest accounts so think I'm doing all I can here.

Yeah, I do fritter. Although not on take outs etc., maybe the odd pint or two too many but, on the whole, it's on experiences and travel, which I value highly. I can cut down, though.

atush

adonis10 wrote: »

Interest free credit card. :beer:

So remove that balance in your head from your savings. If you have a few K above it, start your pension now and still save in cash/Isa.

atush

adonis10 wrote: »

Debt - 0% until Aug.
Savings - varies between 4% and 0.5%. I'm channeling as much as poss into the higher interest accounts so think I'm doing all I can here.

Yeah, I do fritter. Although not on take outs etc., maybe the odd pint or two too many but, on the whole, it's on experiences and travel, which I value highly. I can cut down, though.

Do the spending diary (and tit up total costs of travel each year for the last few).

adonis10

Which S&S ISA would be a good starting place? I assume I'd need to transfer my Virgin one?

jamesd

Have a look at posts one and two to find out more about how pension contributions can be related to final income in retirement.

Without adjusting the calculations in the first post for your slightly lower age, each £100 gross in now, increasing with inflation, is likely to pay you an income of £4812 a year from state pension age in today's money, increasing with inflation.

atush

As for which ISA it would depend on how much you want to put in and into which funds. These tow can be used to determine the right platform. Use other S&S isa threads both here and look in the savings forum/