Moneybox investing

happymum37

Hello

Friend recommended moneybox as a good way to start investing. Any one used then on here before?

Thank you

Woodstok2000

I had one when I was a kid, shaped like a tardis. Worked well for pocket money but interest rate was poor.

elsien

https://www.which.co.uk/money/investing/investment-platforms-and-fund-supermarkets/best-investment-platforms/moneybox-investment-platform-review-au9Hn7J6AdlR

eskbanker

https://forums.moneysavingexpert.com/discussion/6653309/moneybox-investing

Personal recommendations are often useful, but if you're hoping to benefit from guidance from anonymous strangers then it would probably be worth clarifying what you're hoping to achieve, as the mindset needed for investing is very different from that for saving, and platform selection far less significant than other key decisions?

happymum37

https://forums.moneysavingexpert.com/discussion/comment/81865779#Comment_81865779

Thankyou

happymum37

Yes that would help sorry!

I would like to invest for about 13 years until i retire. I already over pay into my pension .

I have £600 a month that I can save, hopefully more in the future

Thank you

Emmia

https://forums.moneysavingexpert.com/discussion/comment/81865847#Comment_81865847

I use Moneybox for my S&S ISA.

I find the app easy to use and understand and I like the fact there are simple lower, medium and higher risk options to get you started. You can also tweak the allocations later on (either for your existing investments or for future investments). I also like the "future projection" tool so you can see the (modelled) impact of changing your contributions

I check mine weekly-ish, but mostly it's a fund and forget.

Whether they're better or worse than any other provider I can't tell you.

eskbanker

https://forums.moneysavingexpert.com/discussion/comment/81865847#Comment_81865847

Paying into a pension such as a SIPP is still likely to be optimal (versus other wrappers such as ISA) if it's money you won't be needing until retirement, assuming you have enough headroom to make further pension contributions within the annual allowance?

happymum37

https://forums.moneysavingexpert.com/discussion/comment/81866284#Comment_81866284

Thankyou

I'm concerned if i die my husbands pension from mine is terrible. So i have invested really as much as I'm comfortable with now.

I already over pay 150 pounds per month into my pension

OwnedByACat

I have a few accounts with Moneybox as a result of various cashback offers. If you have £5,000 or more in savings with the app (Cash ISA and/or Simple Saver) the £1 monthly investing subscription fee is waived.

I think the app is a good place to start investing. Not sure if it’s good if you have more knowledge or a lot of funds.