We’d like to remind Forumites to please avoid political debate on the Forum.

This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide

How to best utilise £1k/month?

I will soon be in a position where I am able to save/invest £1k/month. My wife and I will be opening LISA's and each putting the maximum £4k/year in there to receive the £1k/year bonus, we will continue this for at least 3 years and when we are ready to settle somewhere we will use the £30k+ as a deposit for a house.
This will leave me personally with around £8k/year to save/invest - I will be looking to put a small amount of this into a high interest easy access savings account but what should I do with the rest? I would like this to be a longer term investment that I won't be withdrawing from for at least 10 years and I am happy to take some risk to see higher returns. Am I best putting the money in a S&S ISA? If so which would you recommend?
Or should I do something completely different with my £1k/month?

Also: I'm debt free, I'm 30 years old and I don't have a private pension. I am quite reluctant to tie my money up there, but I will be receiving a pension from the Armed Forces which I don't contribute to.

Please be kind and speak in layman's terms! Thanks!

Comments

This discussion has been closed.
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 354.3K Banking & Borrowing
  • 254.4K Reduce Debt & Boost Income
  • 455.4K Spending & Discounts
  • 247.3K Work, Benefits & Business
  • 604K Mortgages, Homes & Bills
  • 178.4K Life & Family
  • 261.5K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16K Discuss & Feedback
  • 37.7K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.