new s&s isa x 2 help

Stirfry

Have just finished OU Manageing My Investments and still confused. Recently opened S&S isa with iWeb VLS 60 acc. for OH last tax year.
Now ready to put 2 x 20k for myself and OH, thinking of Unit Trusts.Slowly moving savings from fixed rate to investments but need income going forward for OH imminent retirement.
Just started investing at 59. In October will be looking to put further 150k into investments mainly for income.
My question is where is a good comparison site to help me narrow down my search? Or should I just put the 40k in VLS 60 and leave it?

Eco_Miser

Monevator has a series of articles on income for retirement (Note the list is earliest last, with the first spilling onto a second page, which is where my link goes.)

What exactly are you searching for?

xylophone

https://forums.moneysavingexpert.com/discussion/comment/72154386#Comment_72154386

We have 600k in savings and combined pensions of 7.5k per annum. Aged 59 and 61. 1 full state pension and 1 a couple of years short (plan to buy at right time) due at 66. OH plans to retire soon, so we will have to have enough money. 30k net per annum required and we need to find a way to make it last.

https://forums.moneysavingexpert.com/discussion/comment/72377051#Comment_72377051

We have a less than 1 year old car the does 70+ miles to the gallon, road tax £30 a year. My £400 a month pension covers utilities, we live in a newish house thats well insulated, mortgage paid. OH still working (just). For us its all about the preparation. The only trouble is we spend in excess of 12k a year on holidays and 1.4k a month on food and going out.

You and your spouse are already in receipt of pensions and these are your only private pensions?

You have no earned income at all? You can still contribute up to £2880 (net) to a pension up to age 75 and receive tax relief.

Your husband will have earned income for some of this tax year? He might wish to contribute as much as possible in this tax year and then £2880 (net) going forward.

Had you thought of consulting an IFA?

https://directory.moneyadviceservice.org.uk/en

Stirfry

Thanks for the replies so far. For 2 yearsI have been contributing the 2880. At the moment its held in cash with HL. My OH may be able to take some funds from his Business A/c to start a SIPP. I am aware its just worked out that we have no protection from Tax wrappers, hence started to make use of s&s isa's.

I deliberately did a money ladder of fixed rate savings so that I did not make too many investment mistakes early on. The longest fix has 3.5 years left to run so by then I would like to be fully invested bar around 30k cash held for emergencies.I know its at risk of inflation and hope to achieve with the right investments a safe withdrawal of £1200 per month. Thats my goal anyway.

If I end up depleting funds the children will still inherit the house which is worth around 400k, no mortgage.

I have discounted an IFA at the moment.

bigadaj

Ther is more than one way to skin a cat.

Typical options might be to invest in a range of income funds, targeting a yield of say 4-5%. The value of investments would hopefully increase but there is the risk of capital erosion.

Similarly you could do this with a range of investment trusts, paying income, and being closed ended and arguably longer term might be better at smoothing returns. Dividends payments are typically more staggered so you'd end up with lumper payments but can be managed.

Third option is maybe to just use general funds like lifestrategy, draw an income and hope that growth and dividends will replenish capital.

Some flexibility in income can help retain capital, particularly in early years,

Stirfry

Thanks for the input bigadaj. I have been leaning towards investment trusts as my best option. I understand that they are less volatile than some options. When you say a range of investment trusts do you mean say half a dozen funds?

I intend to hold back 30k in cash so that I can leave investments alone when not doing so well.

Hopefully I am planning for the next 30 years so would it be a good idea to have some income 2/3 and some accumulated funds say 1/3?

Eco_Miser

bigadaj wrote: »

Similarly you could do this with a range of investment trusts, paying income, and being closed ended and arguably longer term might be better at smoothing returns. Dividends payments are typically more staggered so you'd end up with lumper payments but can be managed.

46% of Investment Trusts now pay dividends quarterly so pick four paying in different months, and you've go a monthly income.
Note, make sure the investments are suitable for you in other regards before selecting on dividend dates.

Stirfry

I have now decided to split 4 investment trusts between 2 S&S isa's. I have come up with the following list in no particular order, before making my final selection:

Aberdeen Asian Income
City of London
Dunedin Income Growth
F & C Capital & Income
Merchants
Henderson Diversified Income
Invesco Income Growth
JP Morgan European Income
Schroder Income Growth
Scottish American
Standard Life Property Income
Foresight Solar

Please give any thoughts on my selection above.

1/ In what proportion should I split the 4 Funds, depending on what final funds I chose?

2/ Should I chose more than 4?

3/ Are the fees too high on Aberdeen Asian Income, Henderson, JP Morgan etc...

4/ Is Foresight Solar worth a punt on a small percentage and if so how much?

As I am just starting my portfolio and intend to invest another 150k in October what spread of funds should I consider at this stage?
I intend to split 40k between 2 S&S funds.

MPN

Stirfry wrote: »

I have now decided to split 4 investment trusts between 2 S&S isa's. I have come up with the following list in no particular order, before making my final selection:

Aberdeen Asian Income
City of London
Dunedin Income Growth
F & C Capital & Income
Merchants
Henderson Diversified Income
Invesco Income Growth
JP Morgan European Income
Schroder Income Growth
Scottish American
Standard Life Property Income
Foresight Solar

Please give any thoughts on my selection above.

1/ In what proportion should I split the 4 Funds, depending on what final funds I chose?

2/ Should I chose more than 4?

3/ Are the fees too high on Aberdeen Asian Income, Henderson, JP Morgan etc...

4/ Is Foresight Solar worth a punt on a small percentage and if so how much?

As I am just starting my portfolio and intend to invest another 150k in October what spread of funds should I consider at this stage?
I intend to split 40k between 2 S&S funds.

That's quite a mixed selection and out of these I have only considered City of London so far so cannot make any comment on your choices. I hold the following:-

Global - Witan & Scottish Mortgage
Asia Pacific ex Japan - Fidelity Asian Values
UK - Finsbury Growth & Income
Japan - Baillie Gifford Japan Trust

MonroeM

Stirfry wrote: »

I have now decided to split 4 investment trusts between 2 S&S isa's. I have come up with the following list in no particular order, before making my final selection:

Aberdeen Asian Income
City of London
Dunedin Income Growth
F & C Capital & Income
Merchants
Henderson Diversified Income
Invesco Income Growth
JP Morgan European Income
Schroder Income Growth
Scottish American
Standard Life Property Income
Foresight Solar

Please give any thoughts on my selection above.

1/ In what proportion should I split the 4 Funds, depending on what final funds I chose?

2/ Should I chose more than 4?

3/ Are the fees too high on Aberdeen Asian Income, Henderson, JP Morgan etc...

4/ Is Foresight Solar worth a punt on a small percentage and if so how much?

As I am just starting my portfolio and intend to invest another 150k in October what spread of funds should I consider at this stage?
I intend to split 40k between 2 S&S funds.

Why are you just considering IT's in preference to OEIC's or ETF's?

You already have an OEIC in VLS60 and by your own admission you are just starting on your journey into investments, therefore, IMHO most people tend to start with OEIC's before going on to IT's or ETF's.

Stirfry

Thanks for the replies so far, much appreciated.

I am considering IT's because the investment is for imminent Retirement income. I am looking at the Dividend values.

I intend to invest then draw on the Dividends for hopefully the next 30 years.