Approx 35k savings - what would you do?

grey_gym_sock

eskbanker wrote: »

Sing along now: "If you can make it there, you can make it anywhere"....

though in reality social mobility isn't very high in the USA. it's higher in countries with lower inequality and stronger social security, e.g. scandinavian countries.

however, that doesn't make such a catchy tune

bowlhead99

grey_gym_sock wrote: »

though in reality social mobility isn't very high in the USA. it's higher in countries with lower inequality and stronger social security, e.g. scandinavian countries.

however, that doesn't make such a catchy tune

But maybe that's the point of the catchy tune. It is suggesting that if you can make it in New York, which is fiercely capitalist, competitive and has low social mobility, you can easily make it anywhere (e.g. Scandinavia, which has more equality).

Of course, our friend Vero Wright from "New York" whose biographical profile says he is a career coach and professional writer, co founder and CEO of "Resumes Center" which will write your CV for a fee, is probably not a person to trust for investment advice, nor is he based in New York, nor is he a professional writer.

With his laughably poor grammar and writing ability, you would not want to pay his writing service any money at all to construct for you such sentences as, "make money flow in passive. You can double or even triple your earnings, in short terms".

Until I saw his profile, my cynicism and casual racism led me to assume that someone with a terrible command of English talking about how to grow your earnings in the short term was likely a Nigerian 419 scammer who would then correspond with people via private message to extort them.

Vero Wright
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However, perhaps he does not seek investment money, and is instead just building up a post-count until he can spam us with links to his inarticulate resume-writing service, which sounds unlikely to be legitimate unless the purpose is to create CVs which are deliberately badly-written as a training tool for employers.

He had this gem on another board

VeroWright wrote: »

Which are the most preferable platform for blogging?

Maybe once he has found the perfect web host for his burgeoning business and online investment empire we could spam it with adverts for grammar lessons.

colsten

kiss_my_face wrote: »

And finally, we've never really thought of having a savings goal. We just want to be able to pay the bills and have a roof over our heads really. Neither of us come from families with any money and aren't going to inherit anything, so what we've earned/saved is what we'll have.

I know it seems a long time away but what will you be living off when you stop working? Will you have enough income to stop working when you want to?

xylophone

I know it seems a long time away but what will you be living off when you stop working? Will you have enough income to stop working when you want to?

OP says

We've also both been paying into our teacher's pension schemes for the past few years.

I am well acquainted with a couple of retired teachers and they don't seem strapped for cash....:D

grey_gym_sock

bowlhead99 wrote: »

But maybe that's the point of the catchy tune. It is suggesting that if you can make it in New York, which is fiercely capitalist, competitive and has low social mobility, you can easily make it anywhere (e.g. Scandinavia, which has more equality).

good point - i hadn't followed the logic through.

i'd call the scandinavian model the more competitive one. when most people get a decent start, and can take risks because they know that in the worst-case there is a safety net, they are all in a better position to compete; then when some are very successful, that's the outcome of a more competitive process.

with low social mobility, very successful people may have done little except have the right parents; or alternatively, they did have to compete, but only against the small number of people from a similar privileged background.

Adamjeffs

I,m in an almost identical position (though mortgage is a lot more sadly !) as others have said I would do a mix . Also depends how old you are? .

Currently I overpay 300 a month on the mortgage . Save about 400 a month in cash and put about 200 a month in a s and s isa. For lump sums I would maybe pay in over say the next 12 months into a s and s is a via a fund platform like Charles's Stanley direct and go for a tracker fund (vanguard life strategy is as good one) remember to keep about 6 months in cash for emergencies