Stocks and Shares ISA

sven3011

Hi all,

Looking for some advice. I’m planning on opening a stocks and shares ISA with the goal of saving around £50 p/m over the next 30 years to help in retirement

any advice on the best stocks and shares ISA currently? And advice for a newbie investing to maximise savings

(from what I’ve read it seems pretty complicated so far) 

ColdIron

If it's for retirement then pension contributions suggest themselves

Baldytyke88

I got a SIPP (self-invested personal pension) around 5 years ago, I did originally have an ISA.

I have around £38k in there now, invested in 20 different shares. My SIPP can be cashed in at least 10 years before my state pension age of 67.

sven3011

Baldytyke88 said:

I got a SIPP (self-invested personal pension) around 5 years ago, I did originally have an ISA.

I have around £38k in there now, invested in 20 different shares. My SIPP can be cashed in at least 10 years before my state pension age of 67.

Thank you! Possible stupid question- is this separate to your workplace pension? 

ColdIron

sven3011 said:

Baldytyke88 said:

I got a SIPP (self-invested personal pension) around 5 years ago, I did originally have an ISA.

I have around £38k in there now, invested in 20 different shares. My SIPP can be cashed in at least 10 years before my state pension age of 67.

Thank you! Possible stupid question- is this separate to your workplace pension? 

It would be (that's the 'self invested' bit of SIPP) but for £50 per month increasing your workplace pension would be the simplest option. None of the 'complicated' decisions such as choosing what to invest in, monitoring/rebalancing those investments, which SIPP (or ISA) to use etc. Possibly cheaper too

Eyeful

1. First pay off any high interest debt.
2. Use tax shelters whenever available.
Pensions for very long term investing: You get " free money" and it grows tax free, at least until you draw on it.
Stocks & shares ISA for long term investing, lets say at least 10 years.
Cash ISA: Any money needed within 5 years should be held in a savings account (not invested).

3. First watch this: 
https://www.kroijer.com/

Then consider a passive low cost Global Index Tracking Fund or ETF.
https://monevator.com/best-global-tracker-funds/

For more control of the up/down swings in the share price consider a passive low cost Global Multi Asset Fund.
Example: https://www.hsbc.co.uk/investments/products/hsbc-global-strategy-portfolios/#balanced
https://monevator.com/passive-fund-of-funds-the-rivals/

You might like to look into so called "target date funds"
Example: https://www.vanguardinvestor.co.uk/investing-explained/what-are-target-retirement-funds

Remember:
Investing means putting your money at risk, you hope to get more out than you put in. There are no guarantees.
Don't jump ship just because the market crashes & it will. This is a classic newbie reaction!

Hope above might be of interest to you.

Albermarle

ColdIron said:

sven3011 said:

Baldytyke88 said:

I got a SIPP (self-invested personal pension) around 5 years ago, I did originally have an ISA.

I have around £38k in there now, invested in 20 different shares. My SIPP can be cashed in at least 10 years before my state pension age of 67.

Thank you! Possible stupid question- is this separate to your workplace pension? 

It would be (that's the 'self invested' bit of SIPP) but for £50 per month increasing your workplace pension would be the simplest option. None of the 'complicated' decisions such as choosing what to invest in, monitoring/rebalancing those investments, which SIPP (or ISA) to use etc. Possibly cheaper too

As above. Ask your employer to increase the % of your salary to take in pension contributions each month.
Some nice employers will increase their contributions if you increase yours, so a double benefit.