Max’d my LISA and S&S ISA. Where to invest next?

Savingforahouse123

Hi I’m not sure where to invest. I’ve max’d my LISA and S&S ISA. 

Obviously the tax year end is fast approaching but I’ve put the full £4k into my LISA and max’d out my Vanguard Index Fund S&S ISA allowance for the tax year too. Any remaining savings seem a bit wasted in my Chase bank account as the interest they get isn’t great. I’m a basic tax payer. My employer contributes the maximum towards my pension.

Crypto doesn’t interest me. So aside from a SIPP, I don’t know what my other options are. 

My goals are to retire early and to buy a property overseas in when I’m 40 (I’m currently 29 so in 11 years). 

Not sure what other info you require but happy to answer any further questions 

Where would you suggest?

eskbanker

You'll have a new £20K ISA allowance in a month and a half's time, so you can save or invest outside the tax shelter between now and then, prior to sheltering once the new tax year starts?  You don't indicate how much you're thinking of though, so if you'll have more than £20K over the next year and a bit then yes, you'll need to look beyond ISAs....

EthicsGradient

You could invest in a global index tracker outside an ISA. Developed World index trackers yield perhaps 1.7%, so you could invest over £25,000 before reaching the £500 dividend 0% tax allowance, and it's easy to sell one and buy another when your capital gains approach the £3,000 allowance.

RacingDriver

Open a GIA (General Investment Account) and use your dividend and CGT allowances.

400ixl

What do you mean by your employer contributes the maximum to your pension?

Do you mean that if you pay in more they won't add anything or that you have max'd out the £60k allowance with salary sacrifice contributions with are Employer contributions?

Albermarle

Savingforahouse123 said:

Hi I’m not sure where to invest. I’ve max’d my LISA and S&S ISA. 

Obviously the tax year end is fast approaching but I’ve put the full £4k into my LISA and max’d out my Vanguard Index Fund S&S ISA allowance for the tax year too. Any remaining savings seem a bit wasted in my Chase bank account as the interest they get isn’t great. I’m a basic tax payer. My employer contributes the maximum towards my pension.

Crypto doesn’t interest me. So aside from a SIPP, I don’t know what my other options are. 

My goals are to retire early and to buy a property overseas in when I’m 40 (I’m currently 29 so in 11 years). 

Not sure what other info you require but happy to answer any further questions 

Where would you suggest?

Just because your employer is adding the maximum, there should be nothing stopping you increasing your monthly contributions to your workplace pension. If the contributions are made by salary sacrifice, it is better doing it that way than opening a separate SIPP.

S&S ISA is good for money needed before retirement, but for retirement, pension has the tax advantage.

Have you checked how your workplace pension is invested ( many do not )?

Archerychick

You also need to think about when you'd need access to that money based on your plans. If you pay more into your pension you won't be able to access that until long after you plan to stop work, so adding your spare money into that may not make sense for you, and instead general investments may be the best place for you.

penners324

Your employer contributes £60k to your pension? That's the maximum.

If not then up your work pension contributions 

penners324

Or an non pension or isa investment account. 

penners324

Nutmeg is available through the Chase app.

Though it's fees are on the high side

Albermarle

Archerychick said:

You also need to think about when you'd need access to that money based on your plans. If you pay more into your pension you won't be able to access that until long after you plan to stop work, so adding your spare money into that may not make sense for you, and instead general investments may be the best place for you.

When the OP said this.  My goals are to retire early and to buy a property overseas in when I’m 40 (I’m currently 29 so in 11 years

I do not think they meant they were planning to retire at 40. Presumably not anyway as retiring at 40 would mean you would have to have a LOT of money to live a good lifestyle for the next 40 or 50 years.