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  • FIRST POST
    • In For A Penny
    • By In For A Penny 13th Jan 18, 5:15 PM
    • 335Posts
    • 304Thanks
    In For A Penny
    Personal finance suggestions?
    • #1
    • 13th Jan 18, 5:15 PM
    Personal finance suggestions? 13th Jan 18 at 5:15 PM
    Long time lurker and find the forum a hugely useful resource.

    Any suggestions on where we should go from here with personal finances would be most welcome. Historically, have been fairly conservative/cash heavy but having secured good jobs in the past few years have moved slowly towards longer term investments.

    Background:
    Married, both mid 30s, work in public sector in relatively secure jobs earning approx 70-80k/yr each with a DB pension (likely to exceed lifetime pension allowance as it stands I think). Two kids under 5.

    Im one of those strange people that enjoys their job so will work until 65 (wife is less enthusiastic). Aims are to ensure adequate funding for kids (?university +/- deposit on first home) and comfortable retirement. So 15+ year investment/growth horizon.

    No debts other than mortgage- 80k (1.7% fixed for three years). Possibly one more house move ahead but currently comfortable where we are. Childcare expenses approx. 2k/month. Running out of direct debits to exploit many more high street savings options.

    Currently

    Cash:
    Santander 123 (3 accounts) 60k 1.5%
    Santander regular saver (5% on 200/month)
    Club Lloyds 5k
    TSB Classic plus 2k
    Nationwide Flexdirect & Flexclusive (x2) 5k +500/month
    P2P 4k
    Bitcoin = 0!

    Investments (Charles Stanley Direct)
    S&S ISAs - Legal & General Multi-Index 5 I Fund Acc 40k
    Children S&S ISA VLS 80% 15k each

    The plan at this point is to put maximum contributions into S&S ISA as above but over and above that, any suggestions? Could always overpay the mortgage I suppose.
Page 1
    • Eco Miser
    • By Eco Miser 13th Jan 18, 6:55 PM
    • 3,444 Posts
    • 3,234 Thanks
    Eco Miser
    • #2
    • 13th Jan 18, 6:55 PM
    • #2
    • 13th Jan 18, 6:55 PM
    You could invest outside of ISAs, either the same fund, or something different.
    You can have 2000 dividends and 11300 realised Capital Gains annually each before having to pay tax on them.
    Eco Miser
    Saving money for well over half a century
    • Linton
    • By Linton 13th Jan 18, 8:52 PM
    • 9,395 Posts
    • 9,529 Thanks
    Linton
    • #3
    • 13th Jan 18, 8:52 PM
    • #3
    • 13th Jan 18, 8:52 PM
    As you have plenty of cash and good pensions so put anything else into your S&S ISAs. They give you the flexibility to retire early without taking the hit from an early pension. Or to do anything else you may want to do.
    • planteria
    • By planteria 13th Jan 18, 9:18 PM
    • 5,001 Posts
    • 1,110 Thanks
    planteria
    • #4
    • 13th Jan 18, 9:18 PM
    • #4
    • 13th Jan 18, 9:18 PM
    TSB Classic plus 2k
    Originally posted by In For A Penny
    you might want to check. i think this account only pays interest on 1500 now.

    Bitcoin = 0!
    Originally posted by In For A Penny
    you might want to address that too, if you want to spice things up.. i quite like the "1% of your net worth" idea, on the basis that if it flies you benefit, and if it crashes to zero you're still ok.

    maxing your ISAs seems sensible. fwiw i'd be tempted to take a bit more risk within them too.. perhaps picking some companies yourself.
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