What to do with 10k?

MalcRH12

Hi all

I currently have 10k to put away long term and was wondering what I should be looking at. I've looked at vanguard stocks and shares ISAs which is tempting. Is this the way to go? I doubt I'll need immediate access to it in the short term and have other savings for a rainy day. I have a mortgage of 204k at 2.14% and am overpaying this by 600 a month already. Should I put it towards the mortgage instead? Sorry for the newbie questions I just can't decide on what to do with it and standard savings accounts aren't paying that well at the moment. What would you do? Thanks!

masonic

If long term means at least 10 years then a Vanguard S&S ISA would be a reasonable option. Overpaying the mortgage is another. Which option is the best for you will depend on what happens in the future, which you won't know in advance.

Doshwaster

It all depends on your age and what you define as "long term". If you really don't want access to the money in the next 10-20 then you could put it into your pension (and get the tax relief). If you want to retain the option of accessing it in an emergency then the Vanguard fund is as good as anything.