Pension & Savings thoughts - where am I going right/wrong?!
2 hours ago 0 replies
Hi All,
Being a while i posted here and I’m just looking to consolidate my thinking across what money I have. the headlines:
36M, recently gone freelance in my field
previous pensions totalling £20k (1 with Peoples Pension & 1 with local government)
Mortgage which is pootling along nicely, CC paid off every month in full, no other credit/finance
c. £45k in savings at 2.47%, expecting another £15-20k in inheritance in c. 6 months.
Thoughts currently:
Move £20k to an ISA. Leaning to S&S, long term aims here
pay £10k into pension. Unsure here whether to pay into my People’s Pension workplace scheme or open SIPP.
PP scheme already exists so could just deposit directly to this.
SIPP might be more beneficial if freelance income kicks off and I’m consistently adding throughout the year
The reading I’ve done so far would suggest somewhere like InvestEngine would allow me to have both of these in one place, which feels somewhat sensible.
open JISA for my kid
I’d appreciate any shouts of “don’t!” or encouragement, alongside suggested bedtime reading! Huge thanks in advance
Hi All,
Being a while i posted here and I’m just looking to consolidate my thinking across what money I have. the headlines:
36M, recently gone freelance in my field
previous pensions totalling £20k (1 with Peoples Pension & 1 with local government)
Mortgage which is pootling along nicely, CC paid off every month in full, no other credit/finance
c. £45k in savings at 2.47%, expecting another £15-20k in inheritance in c. 6 months.
Thoughts currently:
Move £20k to an ISA. Leaning to S&S, long term aims here
pay £10k into pension. Unsure here whether to pay into my People’s Pension workplace scheme or open SIPP.
PP scheme already exists so could just deposit directly to this.
SIPP might be more beneficial if freelance income kicks off and I’m consistently adding throughout the year
The reading I’ve done so far would suggest somewhere like InvestEngine would allow me to have both of these in one place, which feels somewhat sensible.
open JISA for my kid
I’d appreciate any shouts of “don’t!” or encouragement, alongside suggested bedtime reading! Huge thanks in advance