Fund to start a SIPP
Discussion
Hi all,
I just wanted to ask for some basic advice regarding starting a SIPP. I'm quite new to investing so please be gentle.
Currently 29 years old and hoping to retire at 55 but I have plenty of time to move the goalposts.
I have circa 16k in a pension with aviva that my grand parents started for me when I was a child. The charges seem quite high (0.9%). I get a discount on platform charges with HL so I think it makes sense to move this across and also make a small contribution (around 1k per year drip fed before tax releif) and then review in a few years time or when goalposts or life circumstances change).
Ideally I'd like to keep things simple and start off with one or two passive funds that have a broad coverge. HL offer additional discounts on L&G funds and some others. Would it be sensible to look at something along the lines of L&G International index trust (0.08% ongoing charge) with a proportional amount in L&G UK index (0.04% ongoing charge) as the international index doesn't have any UK holdings?
Please excuse any ignorance, any thoughts gratefully received.
Edited to add I'm under no illusion that this will be able to support a retirement age of 55 by itself, I'm merely looking to make the best use of money already wrapped up in a pension whilst adding a little to it.
I just wanted to ask for some basic advice regarding starting a SIPP. I'm quite new to investing so please be gentle.
Currently 29 years old and hoping to retire at 55 but I have plenty of time to move the goalposts.
I have circa 16k in a pension with aviva that my grand parents started for me when I was a child. The charges seem quite high (0.9%). I get a discount on platform charges with HL so I think it makes sense to move this across and also make a small contribution (around 1k per year drip fed before tax releif) and then review in a few years time or when goalposts or life circumstances change).
Ideally I'd like to keep things simple and start off with one or two passive funds that have a broad coverge. HL offer additional discounts on L&G funds and some others. Would it be sensible to look at something along the lines of L&G International index trust (0.08% ongoing charge) with a proportional amount in L&G UK index (0.04% ongoing charge) as the international index doesn't have any UK holdings?
Please excuse any ignorance, any thoughts gratefully received.
Edited to add I'm under no illusion that this will be able to support a retirement age of 55 by itself, I'm merely looking to make the best use of money already wrapped up in a pension whilst adding a little to it.
Edited by ar-em-en on Thursday 24th October 23:44
ar-em-en said:
Hi all,
I just wanted to ask for some basic advice regarding starting a SIPP. I'm quite new to investing so please be gentle.
Currently 29 years old and hoping to retire at 55 but I have plenty of time to move the goalposts.
I have circa 16k in a pension with aviva that my grand parents started for me when I was a child. The charges seem quite high (0.9%). I get a discount on platform charges with HL so I think it makes sense to move this across and also make a small contribution (around 1k per year drip fed before tax releif) and then review in a few years time or when goalposts or life circumstances change).
Ideally I'd like to keep things simple and start off with one or two passive funds that have a broad coverge. HL offer additional discounts on L&G funds and some others. Would it be sensible to look at something along the lines of L&G International index trust (0.08% ongoing charge) with a proportional amount in L&G UK index (0.04% ongoing charge) as the international index doesn't have any UK holdings?
Please excuse any ignorance, any thoughts gratefully received.
Edited to add I'm under no illusion that this will be able to support a retirement age of 55 by itself, I'm merely looking to make the best use of money already wrapped up in a pension whilst adding a little to it.
I think it would be worth your while investing time in reading a few books such asI just wanted to ask for some basic advice regarding starting a SIPP. I'm quite new to investing so please be gentle.
Currently 29 years old and hoping to retire at 55 but I have plenty of time to move the goalposts.
I have circa 16k in a pension with aviva that my grand parents started for me when I was a child. The charges seem quite high (0.9%). I get a discount on platform charges with HL so I think it makes sense to move this across and also make a small contribution (around 1k per year drip fed before tax releif) and then review in a few years time or when goalposts or life circumstances change).
Ideally I'd like to keep things simple and start off with one or two passive funds that have a broad coverge. HL offer additional discounts on L&G funds and some others. Would it be sensible to look at something along the lines of L&G International index trust (0.08% ongoing charge) with a proportional amount in L&G UK index (0.04% ongoing charge) as the international index doesn't have any UK holdings?
Please excuse any ignorance, any thoughts gratefully received.
Edited to add I'm under no illusion that this will be able to support a retirement age of 55 by itself, I'm merely looking to make the best use of money already wrapped up in a pension whilst adding a little to it.
Edited by ar-em-en on Thursday 24th October 23:44
https://www.amazon.co.uk/Investing-Demystified-inv...
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