Best way to invest about 200k

Albermarle

london21 said:

dunstonh said:

london21 said:

New ISA allowance soon 

The advice to invest in Vanguard FTSE global all cap index has been working well.

I have increased my pension contribution to £1500pm

Still have cash in instant access account paying around 4.84 / 4.9%

Still be a bit light on the pensions considering you are a higher rate taxpayer.

Pension beats LISA and ISA.

You are right. I went from contributing £400 to £1500

Income about £70k base £25k last bonus not sure what I will get next month but feels weird working and not getting much monthly due to pension contribution but guess that is a mindset thing.

I am currently 34 feels like a long way away from retirement.

The more you add to your pension the quicker retirement will happen, as you will be able to retire early hopefully !

enthusiasticsaver

As a higher rate taxpayer investing in your pension is probably a good idea.  If you dislike the idea of all your eggs in one basket then continuing to maximise ISA contributions is a good idea.  We did that and our Investment ISAs form a core income stream of our early retirement plans. You have the flexibility with those in that you can access before 55 and of course they are tax free on the way out whereas pensions aren't. 

london21

I have £52,000 in the Vanguard FTSE Global All Cap Index Fund (not held in an ISA), and £120,000 in an ISA.

I also have:

• £50,000 in Premium Bonds
• £121,000 in Tandem and Chip savings accounts

I'm a higher-rate taxpayer.

It seems like I have a large amount in instant access savings accounts, despite having no immediate need for the funds.

I pay £1500 into my pension each month.

artyboy

london21 said:

I have £52,000 in the Vanguard FTSE Global All Cap Index Fund (not held in an ISA), and £120,000 in an ISA.

I also have:

• £50,000 in Premium Bonds
• £121,000 in Tandem and Chip savings accounts

I'm a higher-rate taxpayer.

It seems like I have a large amount in instant access savings accounts, despite having no immediate need for the funds.

I pay £1500 into my pension each month.

Are you paying enough into your pension to get you back into BR tax? Given how much you have elsewhere, that would be my priority if I were in your shoes...

london21

artyboy said:

london21 said:

I have £52,000 in the Vanguard FTSE Global All Cap Index Fund (not held in an ISA), and £120,000 in an ISA.

I also have:

• £50,000 in Premium Bonds
• £121,000 in Tandem and Chip savings accounts

I'm a higher-rate taxpayer.

It seems like I have a large amount in instant access savings accounts, despite having no immediate need for the funds.

I pay £1500 into my pension each month.

Are you paying enough into your pension to get you back into BR tax? Given how much you have elsewhere, that would be my priority if I were in your shoes...

Good point might need to increase. Bonus this year was lower 10k and base 72.5k so can bump it up a bit.  

DRS1

london21 said:

artyboy said:

london21 said:

I have £52,000 in the Vanguard FTSE Global All Cap Index Fund (not held in an ISA), and £120,000 in an ISA.

I also have:

• £50,000 in Premium Bonds
• £121,000 in Tandem and Chip savings accounts

I'm a higher-rate taxpayer.

It seems like I have a large amount in instant access savings accounts, despite having no immediate need for the funds.

I pay £1500 into my pension each month.

Are you paying enough into your pension to get you back into BR tax? Given how much you have elsewhere, that would be my priority if I were in your shoes...

Good point might need to increase. Bonus this year was lower 10k and base 72.5k so can bump it up a bit.  

Or double the monthly pension contribution (if you are comfortable with that - you may be keeping some of it back to go in the ISA though you can easily plough some of the cash savings into that).

I see you don't include the pension in your list of assets.  Why is that?  I would have thought you would want to rank that against the S&S ISA.

london21

DRS1 said:

london21 said:

artyboy said:

london21 said:

I have £52,000 in the Vanguard FTSE Global All Cap Index Fund (not held in an ISA), and £120,000 in an ISA.

I also have:

• £50,000 in Premium Bonds
• £121,000 in Tandem and Chip savings accounts

I'm a higher-rate taxpayer.

It seems like I have a large amount in instant access savings accounts, despite having no immediate need for the funds.

I pay £1500 into my pension each month.

Are you paying enough into your pension to get you back into BR tax? Given how much you have elsewhere, that would be my priority if I were in your shoes...

Good point might need to increase. Bonus this year was lower 10k and base 72.5k so can bump it up a bit.  

Or double the monthly pension contribution (if you are comfortable with that - you may be keeping some of it back to go in the ISA though you can easily plough some of the cash savings into that).

I see you don't include the pension in your list of assets.  Why is that?  I would have thought you would want to rank that against the S&S ISA.

Good point. 

Called HMRC to increase pension from £1500 to £2686 but appears it's a large increase will have to tell employer first then send in payslip. Started the process online. Followed same process when I increased from £420 to £1500.

Pension pot about £95,500.

I am 35 but don't like how they keep increasing the pension age. 

masonic

london21 said:

DRS1 said:

london21 said:

artyboy said:

london21 said:

I have £52,000 in the Vanguard FTSE Global All Cap Index Fund (not held in an ISA), and £120,000 in an ISA.

I also have:

• £50,000 in Premium Bonds
• £121,000 in Tandem and Chip savings accounts

I'm a higher-rate taxpayer.

It seems like I have a large amount in instant access savings accounts, despite having no immediate need for the funds.

I pay £1500 into my pension each month.

Are you paying enough into your pension to get you back into BR tax? Given how much you have elsewhere, that would be my priority if I were in your shoes...

Good point might need to increase. Bonus this year was lower 10k and base 72.5k so can bump it up a bit.  

Or double the monthly pension contribution (if you are comfortable with that - you may be keeping some of it back to go in the ISA though you can easily plough some of the cash savings into that).

I see you don't include the pension in your list of assets.  Why is that?  I would have thought you would want to rank that against the S&S ISA.

Good point. 

Called HMRC to increase pension from £1500 to £2686 but appears it's a large increase will have to tell employer first then send in payslip. Started the process online. Followed same process when I increased from £420 to £1500.

Pension pot about £95,500.

I am 35 but don't like how they keep increasing the pension age. 

Unless you work for HMRC, why would you be contacting them to change your pension contributions?

london21

masonic said:

london21 said:

DRS1 said:

london21 said:

artyboy said:

london21 said:

I have £52,000 in the Vanguard FTSE Global All Cap Index Fund (not held in an ISA), and £120,000 in an ISA.

I also have:

• £50,000 in Premium Bonds
• £121,000 in Tandem and Chip savings accounts

I'm a higher-rate taxpayer.

It seems like I have a large amount in instant access savings accounts, despite having no immediate need for the funds.

I pay £1500 into my pension each month.

Are you paying enough into your pension to get you back into BR tax? Given how much you have elsewhere, that would be my priority if I were in your shoes...

Good point might need to increase. Bonus this year was lower 10k and base 72.5k so can bump it up a bit.  

Or double the monthly pension contribution (if you are comfortable with that - you may be keeping some of it back to go in the ISA though you can easily plough some of the cash savings into that).

I see you don't include the pension in your list of assets.  Why is that?  I would have thought you would want to rank that against the S&S ISA.

Good point. 

Called HMRC to increase pension from £1500 to £2686 but appears it's a large increase will have to tell employer first then send in payslip. Started the process online. Followed same process when I increased from £420 to £1500.

Pension pot about £95,500.

I am 35 but don't like how they keep increasing the pension age. 

Unless you work for HMRC, why would you be contacting them to change your pension contributions?

I've done this before, as they need to update my tax code to make sure I get the right tax benefits. I let my employer know, and they handle the adjustments.

masonic

london21 said:

masonic said:

london21 said:

DRS1 said:

london21 said:

artyboy said:

london21 said:

I have £52,000 in the Vanguard FTSE Global All Cap Index Fund (not held in an ISA), and £120,000 in an ISA.

I also have:

• £50,000 in Premium Bonds
• £121,000 in Tandem and Chip savings accounts

I'm a higher-rate taxpayer.

It seems like I have a large amount in instant access savings accounts, despite having no immediate need for the funds.

I pay £1500 into my pension each month.

Are you paying enough into your pension to get you back into BR tax? Given how much you have elsewhere, that would be my priority if I were in your shoes...

Good point might need to increase. Bonus this year was lower 10k and base 72.5k so can bump it up a bit.  

Or double the monthly pension contribution (if you are comfortable with that - you may be keeping some of it back to go in the ISA though you can easily plough some of the cash savings into that).

I see you don't include the pension in your list of assets.  Why is that?  I would have thought you would want to rank that against the S&S ISA.

Good point. 

Called HMRC to increase pension from £1500 to £2686 but appears it's a large increase will have to tell employer first then send in payslip. Started the process online. Followed same process when I increased from £420 to £1500.

Pension pot about £95,500.

I am 35 but don't like how they keep increasing the pension age. 

Unless you work for HMRC, why would you be contacting them to change your pension contributions?

I've done this before, as they need to update my tax code to make sure I get the right tax benefits. I let my employer know, and they handle the adjustments.

Employer would normally handle all of this for you.