Saving/Investment Review - Please help

steadysaver

Hi money savers

I was hoping you could give me some advice. Im 24, and graduated from uni just one year ago

Currently i have

Abbey Regular Saver: £2750 @ 7% matures soon
Halifax ISA: £3522 @ 5.75%
Halifax S&S ISA: £303
Icesave: £500

In the next few months i hope to move around some of my investments and start some new ones. I have around £1000 a month to save which i plan to split in the following pots

YBS Reg Saver: £300 (To save for next ISA subscription) with NS&I
S&S ISA: £300 - (I plan to move my investment from halifax to HL) I realise halifax is a poor investment and does not have the choice of funds. I believe HL allow a monthly deposit into a S&S mini ISA???. Could i move my current investment now (which i opened in this tax year or would i have to wait until next year)? and continue investing??
IceSave: £200
PPP: £100. I plan to start a small pension pot. I am interested in Scottish widows. I heard somewhere they now offer a fund supermarket pension, is this true??

This leaves £100 to invest or divert elsewhere, any ideas?

Any other suggestions or comments would be much appreciated. I am looking for growth and would say i would be interested in medium to high risk ventures for the next few years.

Thanking you for any help in advance

Andy

steadysaver

Anybody got any answers??

Lazy_Runner

What do you plan on doing with the Abbey money when it matures? Icesave, Sainsburys or S&S isa?

Looking at the H-L website, they do seem to offer transfers in. Perhaps you should give them a call to confirm.

No idea about your pension question.

Breaking down your intended allocation;

seems you have 50% in cash savings
30% in medium term stock market investment
10% in long term stock market investment
10% not decided.

My current allocation is 45% in cash savings and 55% in premium bonds. This is until I get 3 months worth of salary saved up. Then I will probaby go with
25% cash savings
45% premium bonds
30% stock market investments.
I am fortunate that my pension is taken care of through my salary.

Once the premium bonds have hit their limit, will probably go 25/75 cash/investments.

So I guess my advice is:

Get 3 months salary/living expenses sorted out in a instant access savings account. You can continue saving, say for big ticket items/unexpected emergencies.

After that would start looking at investing in the markets.
And given the nature of the market at the moment I am playing things defensively.

HTH

steadysaver

The money in the regular saver will go into Icesave for the time being. I will then start up a YBS reg saver.

With regards to the S&S ISA transfer is it ok to transfer a S&S ISA in the same year that i opened it with another provider??

Lazy runner - How are the premium bond working out for you? My dad has the full limit, he usualy gets between £50-200 a month, tho in the odd month nothing. I am resisting them until i am a high rate tax payer.

With investing i think i would be looking at a mix of cautious and adventurous. Leaning towards adventurous.

Lazy_Runner

I would imagine it is ok to transfer an ISA in the same tax year as you bought it. Suggest you talk to your intended S&S provider.

Premium bonds are ok. I made a 100 on a £3k holding and a further £100 when I added £3k to the holding. I view it as my never touch savings. This is reinforced by the fact that it is slighly difficult to get the money back.

If you want more advice, you may want to start a new thread with the above information plus the following:
Are you saving up for anything specific like a house or say retiring early. How much are you willing to lose?

You have called your thread savings review, and there is very little that can be said about savings. Just find the highest interest paying accounts and put your money in there (giving you the level of access that you require).

If you asked about investment or buying government bonds, you may get more responses. Or you may be told to look at previous threads. Depends on the uniqueness of your question.

HTH