Best place to put 1.5 k a month?
Discussion
Hi
Someone I know is saving 1.5k plus a month..
55, working for a few more years, or paid off sooner with generous payoff & put to grass.
Small 'offset account mortgage' @ 1.25% ish interest, BOE + .59 %tracker' since 2007, equivalent parked there so 0 interest in reality.
Most Banks offer naff all interest.
Self managed pension funds with a well known firm, gambled with some 'safe' funds + Japenese small businesses which are doing very well now, but may disappear tomorrow
Historic final salary schemes to pay the bills & food etc
Whats the best thing to do with hard cash, apart from wine, fast women & fast cars?
Maybe plow more into current pension to avoid tax? Take out 25% tax free when retired/redundant?
Or shoe box under the bed..
ISA seem a waste of effort?
If he has an income tax liability then you'd think paying it into a pension wrapper to claw that back would be a starting point given he's over 55.
As for what to invest it in? 2017 is a very difficult year to make any sane judgement on that front for short term investments. Probably most sensible to keep some as cash and spread the rest in other markets so long as it's all cost effective.
Personally I'd just be happy to hold cash and concern myself as to where to invest it a little later when there is bit more clarity as to whether we are about to leap in a particular direction.
As for what to invest it in? 2017 is a very difficult year to make any sane judgement on that front for short term investments. Probably most sensible to keep some as cash and spread the rest in other markets so long as it's all cost effective.
Personally I'd just be happy to hold cash and concern myself as to where to invest it a little later when there is bit more clarity as to whether we are about to leap in a particular direction.
Jimboka said:
Hi
Someone I know is saving 1.5k plus a month..
55, working for a few more years, or paid off sooner with generous payoff & put to grass.
Small 'offset account mortgage' @ 1.25% ish interest, BOE + .59 %tracker' since 2007, equivalent parked there so 0 interest in reality.
Most Banks offer naff all interest.
Self managed pension funds with a well known firm, gambled with some 'safe' funds + Japenese small businesses which are doing very well now, but may disappear tomorrow
Historic final salary schemes to pay the bills & food etc
Whats the best thing to do with hard cash, apart from wine, fast women & fast cars?
Maybe plow more into current pension to avoid tax? Take out 25% tax free when retired/redundant?
Or shoe box under the bed..
ISA seem a waste of effort?
An ISA is simply a tax efficient wrapper - why do you think this is a wasted effort?Someone I know is saving 1.5k plus a month..
55, working for a few more years, or paid off sooner with generous payoff & put to grass.
Small 'offset account mortgage' @ 1.25% ish interest, BOE + .59 %tracker' since 2007, equivalent parked there so 0 interest in reality.
Most Banks offer naff all interest.
Self managed pension funds with a well known firm, gambled with some 'safe' funds + Japenese small businesses which are doing very well now, but may disappear tomorrow
Historic final salary schemes to pay the bills & food etc
Whats the best thing to do with hard cash, apart from wine, fast women & fast cars?
Maybe plow more into current pension to avoid tax? Take out 25% tax free when retired/redundant?
Or shoe box under the bed..
ISA seem a waste of effort?
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