S&S ISA / General Opinions on my Finances
I was unsure on title, apologies.
I understand any advice or opinions given is NFA.
After following the flowchart:
-Not eligible to support from the government apart from child benefit at ~£110. Currently claiming.
-Don’t rely on credit cards. Use them for security, but pay off in full monthly.
-All items fully insured and paid in full at the start of the policy date.
-No debt apart from mortgage.
-Emergency fund of ~£10k in cash isa. Outgoings are 800 a month, halved with partner so if we separated the 10k would last 12 months paying all household bills on my own.
-Auto enrolled in workplace pension. Pay 7% of salary and employer adds an additional 13%.
-Financial goals: ideally become FIRE, but in reality that probably won’t happen. If it doesn’t happen, I hope to have a comfortable amount of money for retirement, which I can then pass on to my children when I’m not around.
-No premium bonds, or LISA, but I have a cash ISA and S&S ISA.
Reposting after following the flowchart, after my previous post was removed.
I’m 38 and really need to start and think about finance. Any help appreciated.
I had opened a stocks and shares ISA with with Trading212 a while ago. Didn’t really like it or know what I was doing, so moved it all back into my cash isa. I’ve since done some research and open to long term investing.
I decided to reopen the S&S ISA last week and looking for a bit of advice/opinion.
Currently have 25k in VWRP and 10k in a flexible cash ISA. I’m on £43k a year and pay 7% into a private pension. My workplace adds an additional 13%. Total pension balance is around 75k after 8 years.
I had £35k in a cash ISA at 3.6% but have recently understood this could be earning more in a S&S ISA. I opened one after researching and decided on VWRP. I’m aware there is VALL at a lower cost, but due to a lack of history, I’m not comfortable with it. I’ve put 25k into S&S ISA 100% in VWRP.
I will be inheriting around 300k. This will be when my grandfather passes, and I know this is in his will. Don’t want to go into details, but it’s as good guaranteed due to his son’s relationship (my dad) with his partner. Hopefully it’s not for a long time, however he’s 91, and I need to face reality of him not being around forever. While I can’t dump that all into my S&S ISA, there will be other options I can speak to a FA about.
I have a mortgage of around 60k (18% LTV) which is 600 a month shared with my partner. The total I contribute to all bills and food is around 800 a month. No debt apart from my mortgage.
I’m on around 2.8k after tax (after pension contributions also). What would you say is a realistic contribution I should make to the ISA?
As previously mentioned, all opinions and comments welcome.