Advice for a young 'un

Robbstein

Well, perhaps not that young!

Quick about me:
In my early thirties and self employed. Currently putting money aside in a personal pension scheme.

It has also been suggested to me that another option for putting money aside for the future is to start a stocks and shares ISA and treat it like a pension (i.e. make monthly payments and not touch it till retirement age).

Is this sound advice? If so, where would be best to look for a good ISA? (e.g. Charles Stanley etc). I am a little overwhelmed by the number of companies offering ISAs and would be more than happy to have a portfolio managed as I have little knowledge of shares. As I see it, the main benefit for me (being self employed) means that should I need the money urgently, it isn't locked away as it would be in a pension.

Any advice as to how to proceed would be greatly appreciated.

Many thanks

atush

Yes, a S&S isa is a good way to go as well, esp if you are a basic rate taxpayer. With HRT, a pension would be preferable.

Which provider would be determined by what funds/investments you want to use, and the monthly saving you want to tuck away. AS to who has the best charges for your chosen investments/level

xylophone

If you are just beginning then (although they are far from the cheapest), you might consider Hargreaves Lansdown because the web interface is so easy to use and there is plenty of information.

You might consider the L&G index funds to start with?
http://www.thisismoney.co.uk/money/investing/article-1583915/A-guide-cheapest-index-tracker-funds.html

unimaginative_user_name

Make sure you also have an emergency fund in a high interest current account too. You are right that one of the advantages of an S&S ISA over a pension is that it is accessible before the age of 55 but you wouldn't want to be accessing it after a downturn in the market as you could get out less than you put in. S&S historically have outperformed cash in the long term but short term they are more volatile.