Personal investment

HaydenB

I am in a reasonable position. Equity in the house, savings in the bank (including an ISA), a reasonable income, decent standard of living and a surplus each month.

I want to make my money work for me. I dont mind having a side project - such as a buy to let - but would appreciate some thoughts. Should I just pay more into my pension? Should I pay off my mortgage quicker? Invest in stocks and shares?

Ive been looking at a buy-to-let, but with stamp duty, letting agent fees, etc - either on my own or through the limited compay route - it doesnt really seem to stack up.

Should I get in touch with a Financial Advisor? Or does anyone have any advice?

eskbanker

Difficult to offer meaningful advice without more specific figures, but yes, BTL isn't what it used to be as an investment, so more mainstream investment options are likely to be more beneficial - pension in particular for money that you can afford to tie up until retirement age.

Paying off your mortgage might make sense but much will depend on the rate and commitment.

If you're talking about significant six figure sums then paid advice from an IFA may be worth considering.

Emmia

What kind of ISA? Cash? or Stocks & Shares? Both?

Albermarle

HaydenB said:

I am in a reasonable position. Equity in the house, savings in the bank (including an ISA), a reasonable income, decent standard of living and a surplus each month.

I want to make my money work for me. I dont mind having a side project - such as a buy to let - but would appreciate some thoughts. Should I just pay more into my pension? Should I pay off my mortgage quicker? Invest in stocks and shares?

Ive been looking at a buy-to-let, but with stamp duty, letting agent fees, etc - either on my own or through the limited compay route - it doesnt really seem to stack up. For a single new landlord it is a minefield so best stay away

Should I get in touch with a Financial Advisor? Depends on the amounts involved and if you prefer to pay for professional advice or DIY. Or does anyone have any advice? In this area 'advice' has a specific meaning and only a regulated financial advisor is allowed to give personalised financial advice. On the forum you will get more 'pointers in the right direction' Hopefully

As already said without more specific details, including your age and employment situation, + the amounts of mortgage, pension pot etc then any answer would just be a stab in the dark.

MEM62

A BTL is about as tax inefficient as an investment can be.  It also carries risk and needs work - it is not a passive investment.   

For the long term and with retirement in mind almost nothing beats a pension.  For shorter horizons (emergency fund, next car etc) look at cash savings.  For longer goals of 10 years plus look at an S&S ISA. A balanced combination of all these is the prudent approach.     

Hoenir

What rate of interest are you paying on your mortgage? 

What % of your salary are you paying into your pension scheme ?