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General Advice - I'm Clueless!
Interested!
Posts: 12 Forumite
I’m 38 yrs old, earn 30K.
Have £56K left to pay on my mortgage (1.2% tracker) (approx £150K equity in house)
Have been paying into public sector pension for nearly 20yrs.
Have £27K in a selection of “high” interest current accounts
Have £15K in Legal & General International Index i trust acc (stocks & shares ISA)
I’m considering putting £20K (this years ISA allowance) into S&S ISA – what funds do people suggest - I was thinking of Scottish Mortgages Inv Trust as it seems to perform so well, I’d be grateful to hear your suggestions, I’d like to keep things simple to manage and think I can cope with a moderately high risk profile.
Would like to (semi)-retire at 50, that’s what I’m saving for!
Any other guidance/suggestions welcome.
Thank You
Have £56K left to pay on my mortgage (1.2% tracker) (approx £150K equity in house)
Have been paying into public sector pension for nearly 20yrs.
Have £27K in a selection of “high” interest current accounts
Have £15K in Legal & General International Index i trust acc (stocks & shares ISA)
I’m considering putting £20K (this years ISA allowance) into S&S ISA – what funds do people suggest - I was thinking of Scottish Mortgages Inv Trust as it seems to perform so well, I’d be grateful to hear your suggestions, I’d like to keep things simple to manage and think I can cope with a moderately high risk profile.
Would like to (semi)-retire at 50, that’s what I’m saving for!
Any other guidance/suggestions welcome.
Thank You
0
Comments
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Interested! wrote: »I’m considering putting £20K (this years ISA allowance) into S&S ISA – what funds do people suggest - I was thinking of Scottish Mortgages Inv Trust as it seems to perform so well, I’d be grateful to hear your suggestions0
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Scottish Mortgage is very high risk but not in the sense that it might go bust and lose all your money. It is highly volatile. It performs very well in the good times, like now, but fell about 60% during the 2008/2009 crash. It recovered back to his previous high point within 3 years.
So if your nerves can stand the ride it could be a very lucrative good investment. Perhaps you would prefer to split the £20K berween your current global fund and Scottish Mortgage.0 -
i like SMT too, but agree you should not just invest in one trust.
In your case, if you expect you will want to retire before your DB pension pays out in full (unreduced) then i would also look at AVCs or a PP/Sipp.0 -
Another fan of SMT (although it is less than 20% of my portfolio), but it now trades at a small premium and I would consider other global investment trusts such as Foreign and Colonial or Witan, which are somewhat safer choices.0
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Well i am a fan of both of those, as I own both lol. but yeah, they'd be good diversification from SMT.0
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