Advice for strategic investment ISA opening and future S&S learning
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sop12hw
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maxed my employer's pension contributionsopen a Lifetime S&S ISA to continue saving for when I'm 60 - probably with Nutmeg for the ethical investing optionI need to open this ISA during this tax year if given that my plans are to open a Lifetime S&S ISA next tax yearI have read about IFISAs and SIPP as well, but I don't know much about these.Please can anyone give a view about whether Cavendish or Vanguard are good platforms for my £100+ monthly investment into a S&S ISA?
Alex0 -
Alexland - I've seen your answers on other threads well so thank you for your help on this and your general contributions. Rookie error - I didn't realise that s&s isas could be opened in the same tax year as lifetime s&s isas so that may change things(!)
I will take on board what you've said about Nutmeg when looking into Lifetime ISAs next year, and very helpful points about Cavendish/Vanguard. I'm not a higher rate tax payer and I don't get overtime/bonuses sadly, so I think Lifetime isa is probably the best option for me... but I think I will consider speaking to a financial advisor next year to double-check this and the long-term pension maths. Very grateful for your help.0 -
At this level a financial advisor is unlikely to be interested and even if they are will likely be uneconomic for you. I'd agree with Alex that contributing more to your pension is worth reassessing if it is a good one. LISAs can be accessed at 60 and by the time you get there pensions won't be much different. Your company pension is very likely to have caps on charges and can often negotiate discounts. Can you contribute via salary sacrifice? I would avoid IFISAs completely, they are not suitable for retirement planning
You can never learn too much about investing and even if you don't construct a bespoke portfolio it is reassuring to know what's what. Other than that it seems a sensible enough plan for now0 -
Although you have a good mortgage deposit it is worth considering how your LTV will affect the interest rate you get offered. It would be annoying to have made higher pension contributions only to be a few thousand short on getting a better mortgage interest rate. Still you won't know the property price for certain until the transaction occurs.
Alex0
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