ST JAMES PLACE OR IFA

hulahula

Thankyou. I hadnt really thought what I would want to do with it. Just get it out of Raisin where it matured last August and I failed to do anything with it. I think it would be ideal for me to dip into to support my pension  in about 12 years time. I know it isnt a lot of money and dont expect a great return but want to do something productive with it.

EdGasketTheSecond

hulahula said:

although 30 grand is a drop in the ocean to some it is my hard earned  savings and not money I can afford to lose. Please can you advise what my best options would be. Thanks so much. 

If you can't afford to lose it then National Savings. I would suggest Premium bonds with an average return of 1.3% (the prize fund). You will always get your money back.

Ceme3000

hulahula said:

Thankyou. I hadnt really thought what I would want to do with it. Just get it out of Raisin where it matured last August and I failed to do anything with it. I think it would be ideal for me to dip into to support my pension  in about 12 years time. I know it isnt a lot of money and dont expect a great return but want to do something productive with it.

That's great though, you are starting to create a plan. You are 46 and you think you might like to support your pension from the age of 58 in 12 years time. 

12 years is a suitable time frame to invest the money and take some risk with the stockmarket.  You would need to understand your risk tolerance when choosing investments as there will be ups and downs along the way, which is perfectly normal. If your investments are diversified there is zero chance you will lose the lot, and in 12 years an excellent chance that you will get a return above inflation. 

From what you say it sounds like you should consider investing through either your employer pension or a personal pension.

Aminatidi

hulahula said:

Thankyou. I hadnt really thought what I would want to do with it. Just get it out of Raisin where it matured last August and I failed to do anything with it. I think it would be ideal for me to dip into to support my pension  in about 12 years time. I know it isnt a lot of money and dont expect a great return but want to do something productive with it.

It's a decent sum but respectfully it's less than many IFA's and similar are interested in to do much more than give you an annual phone call and drop you in a suitable multi-asset.

If you could get a firm idea of your appetite for risk you could absolutely do this yourself.

Look at the likes of Vanguard or HSBC Global Strategy funds as reasonable low cost starting points and if you start reading up you'll be surprised how quickly you start to pick things up.

To give you an idea I recently moved my mum from an IFA to using Vanguard directly on a similar sized pot to your own and she will be saving in the region of £700/year between platform and advisor fees.

I don't know what SJP would charge but it would almost certainly more so the bottom line is do you consider it's worth probably paying in the region of £1000/year to have SJP manage £30K.