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  • FIRST POST
    • MrsWenger
    • By MrsWenger 10th Feb 19, 1:12 PM
    • 283Posts
    • 118Thanks
    MrsWenger
    S&S ISA Option- please comment on my thoughts
    • #1
    • 10th Feb 19, 1:12 PM
    S&S ISA Option- please comment on my thoughts 10th Feb 19 at 1:12 PM
    Hi, apologies for the lengthy post but I would be grateful for your views on an option I am considering please.

    We still have 2 joint Santander 123 accounts with the maximum value in them. I am considering putting £10,000 each into a S&S ISA and switching one of the accounts to NatWest for the £150 offer.

    We are aged 54 and 52 and are both higher rate tax payers. We have a number of the current accounts which pay interest and regular saver accounts with HSBC, First Direct, Lloyds, Nationwide and Santander. We pay the maximum amounts into each of these every month but some of the money comes from the current accounts; it is not all from salary.

    We have cash ISAs with Nationwide and have £10,000 left of this years allowance to deposit.

    We have just over £9,000 left on our mortgage which ends in 2021.

    My partner has a NHS pension which has been active for 34 years, my pension arrangements are poor, I have a workplace pension where I match the company contribution of 5% each month.

    We don’t currently have any investments other than a scheme through my employer where I contribute salary and this buys shares in the company with a 5% discount at the end of each quarter. This is administered by Fidelity.

    I feel that the Vanguard LifeStrategy 60 could be a suitable option for us but having read a lot of posts here and elsewhere, I can see there are other options from other companies.

    Can anyone suggest which other options to consider and which platform to consider please? Given our current way of saving, should we consider starting with the £10,000 each and then add an amount in each month during the next ISA year or just add the £10,000 as a one-off deposit?

    In our position should we consider something different altogether?
    Last edited by MrsWenger; 10-02-2019 at 2:06 PM. Reason: Word change, fee to deposit
Page 2
    • londoninvestor
    • By londoninvestor 12th Feb 19, 11:55 PM
    • 712 Posts
    • 608 Thanks
    londoninvestor
    The restriction with Vanguard is of course that you can only invest/they only offer Vanguard investments whilst the VLS range may be purchased elsewhere albeit at possibly higher cost.
    Originally posted by Spiggle
    Possibly higher, but also possibly lower - e.g if you buy it on iWeb, you'll pay £5 per trade, but no ongoing percentage platform fee.
    • MrsWenger
    • By MrsWenger 13th Feb 19, 1:18 PM
    • 283 Posts
    • 118 Thanks
    MrsWenger
    The £20k could also go into your pension, you'd get tax relief on it, and you could get it back out again in a few years and then put it in an ISA.
    Originally posted by Zorillo
    Thank you for this information Zorillo. I have been in touch with our company pensions advisors to ask for this and other details.
    • MrsWenger
    • By MrsWenger 13th Feb 19, 1:21 PM
    • 283 Posts
    • 118 Thanks
    MrsWenger
    Hi MrsWenger,

    I just went direct to Vanguard and purchased on their platform. The other knowledgeable people will be able to deal with complicated investments but I wanted easy, simple and relatively cheap. The service I've had so far from Vanguard may not be expensive, they are very helpful on their telephone line and it is to some extent a 'fire and forget' investment for me.

    The restriction with Vanguard is of course that you can only invest/they only offer Vanguard investments whilst the VLS range may be purchased elsewhere albeit at possibly higher cost. There are of course other multi-asset funds available, I think there's an HSBC Global Fund as well as others but please look to the others for opinions on those.

    I wish you luck with your decision and yes, I'll see you in ten years time to compare!

    All the best,
    Spigs
    Originally posted by Spiggle
    Thanks for sharing Spigs, much appreciated. Here’s to 2029 and beyond!
    • MrsWenger
    • By MrsWenger 13th Feb 19, 1:24 PM
    • 283 Posts
    • 118 Thanks
    MrsWenger
    Possibly higher, but also possibly lower - e.g if you buy it on iWeb, you'll pay £5 per trade, but no ongoing percentage platform fee.
    Originally posted by londoninvestor
    Thank you for this information Londoninvestor.

    Much to ponder and decide upon but I am still keen to move some of our money from cash options whatever option we end up with.

    I really appreciate all of the posts, thank you again.
    • Alexland
    • By Alexland 13th Feb 19, 2:02 PM
    • 4,501 Posts
    • 3,846 Thanks
    Alexland
    Possibly higher, but also possibly lower - e.g if you buy it on iWeb, you'll pay £5 per trade, but no ongoing percentage platform fee.
    Originally posted by londoninvestor
    Yup - also worth mentioning if you have a high value account and are regularly purchasing multiple funds or ETFs then even Interactive Investor can work out cheaper than both VI and iWeb. For example a portfolio of above £60k with 2 purchases a month would be a fixed £90 PA on II. It would be even cheaper with Halifax Share Dealing.

    Still if you want to be really stingy on fees you could use VI for your regular contributions and then every year do a partial in-specie transfer to iWeb :-)

    Alex
    • Spiggle
    • By Spiggle 14th Feb 19, 10:07 AM
    • 1,751 Posts
    • 14,201 Thanks
    Spiggle
    Here's to 2029 indeed Mrs Wenger!
    Btw I was specifically talking about the Vanguard VLS multi asset funds in terms of price/cost (fire and forget) rather than regular dealing/investing upon which I have no knowledge of cost comparison. Thankfully there are plenty on here who can help.
    All the best,
    Spigs
    Mortgage Free October 2013
    • MrsWenger
    • By MrsWenger 16th Feb 19, 9:19 AM
    • 283 Posts
    • 118 Thanks
    MrsWenger
    Here's to 2029 indeed Mrs Wenger!
    Btw I was specifically talking about the Vanguard VLS multi asset funds in terms of price/cost (fire and forget) rather than regular dealing/investing upon which I have no knowledge of cost comparison. Thankfully there are plenty on here who can help.
    All the best,
    Spigs
    Originally posted by Spiggle
    Hiya Spigs, I think you and I are in a similar place with our understanding and, as you say, there are some really helpful people contributing to the forum.

    it is great to read all of the feedback and then go off and research further. That generally confirms what I already know, I have only scratched the surface but we all have to start somewhere!

    Best wishes...
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