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Investment or otherwise for 66 yr old

I know there is no simple answer to this question but just need some ideas/advice

Im 66 on a state pension. I also work 4 or 5 days a week earning approx £35k gross. I also have a small personal pension of £100k due to pay out its annual annuity when I am 70.  We have no mortgage but £1500+ bills per month which will reduce to about £600 mid next year.

I know we are a long way off from the many mid income and wealthy people out there but we are comfortable

Are there are shares ( or other investments ) at all that I could consider putting a few hundred a month into that would benefit me in the next 10 years or are they all long term

Comments

  • Brie
    Brie Posts: 14,973 Ambassador
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    edited 22 August 2024 at 6:33PM
    I'd suggest you talk to an IFA to get yourself sorted with a low risk assortment of funds.  I used to have (many decades back and far away) a fund I paid into that an adviser (more likely a computer) would distribute into various pots to distribute the risk.  I'd say at your age* you don't want it all in something too zingy on the off chance it will all go pop.  

    If your salary plus SP is getting you too close to a higher tax level maybe the funds should be in a SIPP?  The IFA will know best.

    (*this isn't me having a dig at you as likely I'm older!)
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