30k long term investment

Monkeybum1973

Hi all, newbie here and first time posting but I'm hoping I can get a little advice as I'm currently stumped. What would be the best option to invest 30k over a long period. I was looking at investing in a property for rental income but seemingly that's now incurring more financial charges and pitfalls. I have no mortgage or debts to pay off and working full time. Looking for the best return or a monthly return from a long term investment of 30k.
Thanks.

AlanP_2

What's a long period in your mind? Is there a fixed date / use for the money in mind?

BTL is an option, particularly if you are a Basic Rate taxpayer as changes to mortgage interest relief are neutral at that level. The additional 3% stamp duty will be applicable.

What about putting it into S&S? LISA or ISA or Pension?

webjaved

Have a look at S&S ISA's, LISA/ISA. Maybe look at contributing to your pension?

xylophone

How old are you?

What is your position regarding a pension?

Do you have an emergency fund?

Would you be prepared to consider anything other than a cash deposit earning interest? Stocks and shares for example, or peer to peer lending?

Monkeybum1973

Thanks all. I'm 45 and yes I've got some in a separate account for any unforeseen problems so I can fall back on that. I've got 2 pensions running from previous employment and 1 current pension with my current employer. I can easily invest the money long term up until retirement age if need be. BTL would push me even deeper into the higher tax bracket and I have no set use as yet for the money. I wouldn't be against stocks/shares but I'd deffo do this through a reputable broker or company like L&G for example. It's like a minefield out there. I'm thinking I need to go have a chat with an independent financial advisor. It would be ideal to leave it somewhere to grow but also to have a regular financial benefit from it each year.
Thanks for the advice and I'll definitely have a look at S&S ISA's, LISA/ISA.

AlanP_2

You are too old to open a LISA.

S&S via Pension definitely worth looking at as you are a HR taxpayer.

Can you pay more in to your employer's scheme? Potentially put significant proportion of salary in each month and live off the 30k maybe if you can't pay a lump sum into scheme.

xylophone

£30,000 is possibly rather too modest for a financial adviser.

If you haven't used your ISA allowance this year (and as you can afford to sit it out for the long term), you might consider a stocks and shares ISA.


You could invest £20,000 in this tax year and £10,000 in the next.

Have a look at


https://monevator.com/using-vanguard-lifestrategy-funds-life/



https://www.vanguardinvestor.co.uk/investing-explained/isa?cmpgn=PS0617UKPABIS0001&gclid=EAIaIQobChMIzYa7lI6C4QIVzoCfCh2E8AyTEAAYASAAEgLzgPD_BwE&gclsrc=aw.ds

Or
https://monevator.com/low-cost-index-trackers/

You could look at Iweb if you intend to trade infrequently.

Or you might try Hargreaves Lansdown - very good web site and for a modest portfolio the charges are not unreasonable.

https://monevator.com/compare-uk-cheapest-online-brokers/