Seems like PB winnings have really taken a dive this month. I cashed mine in late last year when I moved so I now have no skin in the game, but if they continue this poor return I might have to be recommending a better home for this money 😉.
(Without checking) the equivalent rate of return has dropped a bit in recent months, but the majority of our winnings (me included) has fallen off a cliff. It doesn't seem right to me.
It does look suspicious when we all seem to be having less than ‘average’ luck!
The average interest rate used to calculate the Premium Bond prize pot dropped from a high of 4.65% (from September) to 4.40% in March. The odds of a win, per £1 bond remained the same at 21,000-1.
The number of prizes went up in March, but these were all at the £25 level with every other level reducing.
Mrs R7L max holding and has for a number of years, since Jan 22 has won £3,950 Me, started dropping down holding over the last 18 months, now about £25k, since Jan 22 £2,050 Daughter, about £26k, since Jan 22 has won £7,350 (that includes one big win of £5k).
Mrs R7L max holding and has for a number of years, since Jan 22 has won £3,950 Me, started dropping down holding over the last 18 months, now about £25k, since Jan 22 £2,050 Daughter, about £26k, since Jan 22 has won £7,350 (that includes one big win of £5k).
Some people are more lucky than others!
To be fair, you guys are pretty lucky to have that king of money to invest in anything other than a house! The wins are a lovely bonus. Enjoy.
Mrs R7L max holding and has for a number of years, since Jan 22 has won £3,950 Me, started dropping down holding over the last 18 months, now about £25k, since Jan 22 £2,050 Daughter, about £26k, since Jan 22 has won £7,350 (that includes one big win of £5k).
Some people are more lucky than others!
To be fair, you guys are pretty lucky to have that king of money to invest in anything other than a house! The wins are a lovely bonus. Enjoy.
35+ years at work and a lot of saving! But yes, appreciate I am fortunate.
Is this right? I have just received a letter from Virgin returning money to me as I had opened a 2nd cash ISA in the tax year. I had opened a fixed rate ISA in January for £5k. I then opened a 2nd with them in March. They have returned this latter money. I had always been under the impression that you can only use one provider but CAN do it in stages. Seems I'm wrong.
Is this right? I have just received a letter from Virgin returning money to me as I had opened a 2nd cash ISA in the tax year. I had opened a fixed rate ISA in January for £5k. I then opened a 2nd with them in March. They have returned this latter money. I had always been under the impression that you can only use one provider but CAN do it in stages. Seems I'm wrong.
I would have to go into the one you originally opened. You can not have 2 ISA's of the same ilk in the same tax year. Even if it's with the same provider.
I’m currently obsessed with the whole FIRE planning and spend a fair amount of time reading up on the various strategies people are using, but you are right, regular contributions plus compound interest is a game changer
I always said mid 50's, but having changed jobs in 2020 and took a bit of a step back in responsibilities hours etc (although that seems to be creeping back upwards!) I'm enjoying work more than I have in probably 15-20 years. So no plans just yet, but I'll review at 55 and will likely do a more reduced hours at least.
FIRE is fine, just don't take it too far.
My very simple financial advice has always been, if you can (as at the lower earnings end or at certain times in your life it's not always possible) live your life as if your salary is 80% of what it really is.
So that means living to that, to include savings and pensions, everything. The extra 20% is your extra investments/savings. I've been doing that broadly since my early to mid 30's and is a large reason I am where I am.
Conversely I have worked with people earning 3/4/5/10x what I do so some well into the millions who are literally cash and investment poor. All they do is spend to their limit and a bit more. £250k cars, £100k on holidays a year, mostly stuff that devalues.
Imagine you earned £2m a year and couldn't live as if you earned £1.6m! With that extra £200k net invested after 10 years and growth at about 8% you'd have approaching £3m.
Some people will always live to or beyond their means. I've literally know people earning £80k who have more investments and wealth than people earning £1m.
Basically just be sensible, save what you can, watch what you spend, and let compound do it's job.
Usually agree with much of what you say and whilst I appreciate that this is a thread on investments, to me a holiday never "devalues". Life is about memories, you can't take the cash with you. I would spend £100K on holidays every year if I could afford it. They are the best of times and best of memories.
I took the family for 9 weeks to Asia last year with 2 young children. Memories that will last my life time and theirs.
In monetary terms it cost a lot and meant I had to take unpaid leave but I was lucky enough that as a one off I could afford it (partially through one small "investment" with Paddy power)! The holiday was undoubtedly the best investment decision I have ever made.
One of my best friends from school has spent most of his adult life travelling the world and doing cash jobs to get along on a tiny budget. He has lived in more countries than I care to remember and visited much of the planet, met tonnes of people and lived an incredible life. He will never have a family (doesn't want one), and will likely die at a relatively young age given the life choices he makes (I'm surprised he has made it to 46!) but I know he wouldn't change a single piece of it and has accepted that if he lives to a good age he will be potless at the end of it but have spent his "good" years living his best life (sorry, awful phrase!).
I’m currently obsessed with the whole FIRE planning and spend a fair amount of time reading up on the various strategies people are using, but you are right, regular contributions plus compound interest is a game changer
I always said mid 50's, but having changed jobs in 2020 and took a bit of a step back in responsibilities hours etc (although that seems to be creeping back upwards!) I'm enjoying work more than I have in probably 15-20 years. So no plans just yet, but I'll review at 55 and will likely do a more reduced hours at least.
FIRE is fine, just don't take it too far.
My very simple financial advice has always been, if you can (as at the lower earnings end or at certain times in your life it's not always possible) live your life as if your salary is 80% of what it really is.
So that means living to that, to include savings and pensions, everything. The extra 20% is your extra investments/savings. I've been doing that broadly since my early to mid 30's and is a large reason I am where I am.
Conversely I have worked with people earning 3/4/5/10x what I do so some well into the millions who are literally cash and investment poor. All they do is spend to their limit and a bit more. £250k cars, £100k on holidays a year, mostly stuff that devalues.
Imagine you earned £2m a year and couldn't live as if you earned £1.6m! With that extra £200k net invested after 10 years and growth at about 8% you'd have approaching £3m.
Some people will always live to or beyond their means. I've literally know people earning £80k who have more investments and wealth than people earning £1m.
Basically just be sensible, save what you can, watch what you spend, and let compound do it's job.
Usually agree with much of what you say and whilst I appreciate that this is a thread on investments, to me a holiday never "devalues". Life is about memories, you can't take the cash with you. I would spend £100K on holidays every year if I could afford it. They are the best of times and best of memories.
I took the family for 9 weeks to Asia last year with 2 young children. Memories that will last my life time and theirs.
In monetary terms it cost a lot and meant I had to take unpaid leave but I was lucky enough that as a one off I could afford it (partially through one small "investment" with Paddy power)! The holiday was undoubtedly the best investment decision I have ever made.
One of my best friends from school has spent most of his adult life travelling the world and doing cash jobs to get along on a tiny budget. He has lived in more countries than I care to remember and visited much of the planet, met tonnes of people and lived an incredible life. He will never have a family (doesn't want one), and will likely die at a relatively young age given the life choices he makes (I'm surprised he has made it to 46!) but I know he wouldn't change a single piece of it and has accepted that if he lives to a good age he will be potless at the end of it but have spent his "good" years living his best life (sorry, awful phrase!).
Absolutely spot on.
Our boys get the property - my missus and I spend ALL the money!
Is this right? I have just received a letter from Virgin returning money to me as I had opened a 2nd cash ISA in the tax year. I had opened a fixed rate ISA in January for £5k. I then opened a 2nd with them in March. They have returned this latter money. I had always been under the impression that you can only use one provider but CAN do it in stages. Seems I'm wrong.
I would have to go into the one you originally opened. You can not have 2 ISA's of the same ilk in the same tax year. Even if it's with the same provider.
Thanks for the confirmation. My mistake. (cost me £30 in lost interest).
I’m currently obsessed with the whole FIRE planning and spend a fair amount of time reading up on the various strategies people are using, but you are right, regular contributions plus compound interest is a game changer
I always said mid 50's, but having changed jobs in 2020 and took a bit of a step back in responsibilities hours etc (although that seems to be creeping back upwards!) I'm enjoying work more than I have in probably 15-20 years. So no plans just yet, but I'll review at 55 and will likely do a more reduced hours at least.
FIRE is fine, just don't take it too far.
My very simple financial advice has always been, if you can (as at the lower earnings end or at certain times in your life it's not always possible) live your life as if your salary is 80% of what it really is.
So that means living to that, to include savings and pensions, everything. The extra 20% is your extra investments/savings. I've been doing that broadly since my early to mid 30's and is a large reason I am where I am.
Conversely I have worked with people earning 3/4/5/10x what I do so some well into the millions who are literally cash and investment poor. All they do is spend to their limit and a bit more. £250k cars, £100k on holidays a year, mostly stuff that devalues.
Imagine you earned £2m a year and couldn't live as if you earned £1.6m! With that extra £200k net invested after 10 years and growth at about 8% you'd have approaching £3m.
Some people will always live to or beyond their means. I've literally know people earning £80k who have more investments and wealth than people earning £1m.
Basically just be sensible, save what you can, watch what you spend, and let compound do it's job.
Usually agree with much of what you say and whilst I appreciate that this is a thread on investments, to me a holiday never "devalues". Life is about memories, you can't take the cash with you. I would spend £100K on holidays every year if I could afford it. They are the best of times and best of memories.
I took the family for 9 weeks to Asia last year with 2 young children. Memories that will last my life time and theirs.
In monetary terms it cost a lot and meant I had to take unpaid leave but I was lucky enough that as a one off I could afford it (partially through one small "investment" with Paddy power)! The holiday was undoubtedly the best investment decision I have ever made.
One of my best friends from school has spent most of his adult life travelling the world and doing cash jobs to get along on a tiny budget. He has lived in more countries than I care to remember and visited much of the planet, met tonnes of people and lived an incredible life. He will never have a family (doesn't want one), and will likely die at a relatively young age given the life choices he makes (I'm surprised he has made it to 46!) but I know he wouldn't change a single piece of it and has accepted that if he lives to a good age he will be potless at the end of it but have spent his "good" years living his best life (sorry, awful phrase!).
Totally agree, my reference was to people who really are living beyond their means "All they do is spend to their limit and a bit more." These are also the same people whose lifestyles will hugely nose dive in later years, much to their disgust and disbelief.
Liken it to a footballer on £3m a year who spends the lot every year (and a bit more) and a year after their career ends is declared bankrupt.
Your mate sounds like my kind of guy, nothing wrong with what he's doing
Is this right? I have just received a letter from Virgin returning money to me as I had opened a 2nd cash ISA in the tax year. I had opened a fixed rate ISA in January for £5k. I then opened a 2nd with them in March. They have returned this latter money. I had always been under the impression that you can only use one provider but CAN do it in stages. Seems I'm wrong.
I would have to go into the one you originally opened. You can not have 2 ISA's of the same ilk in the same tax year. Even if it's with the same provider.
That's correct as at tax year 2023/24. Different now though - as of 6 April 2024 you can do just that. I believe I've understood the new arrangements correctly but please correct me if I'm wrong.
Is this right? I have just received a letter from Virgin returning money to me as I had opened a 2nd cash ISA in the tax year. I had opened a fixed rate ISA in January for £5k. I then opened a 2nd with them in March. They have returned this latter money. I had always been under the impression that you can only use one provider but CAN do it in stages. Seems I'm wrong.
I would have to go into the one you originally opened. You can not have 2 ISA's of the same ilk in the same tax year. Even if it's with the same provider.
That's correct as at tax year 2023/24. Different now though - as of 6 April 2024 you can do just that. I believe I've understood the new arrangements correctly but please correct me if I'm wrong.
Is this right? I have just received a letter from Virgin returning money to me as I had opened a 2nd cash ISA in the tax year. I had opened a fixed rate ISA in January for £5k. I then opened a 2nd with them in March. They have returned this latter money. I had always been under the impression that you can only use one provider but CAN do it in stages. Seems I'm wrong.
I would have to go into the one you originally opened. You can not have 2 ISA's of the same ilk in the same tax year. Even if it's with the same provider.
That's correct as at tax year 2023/24. Different now though - as of 6 April 2024 you can do just that. I believe I've understood the new arrangements correctly but please correct me if I'm wrong.
I’m currently obsessed with the whole FIRE planning and spend a fair amount of time reading up on the various strategies people are using, but you are right, regular contributions plus compound interest is a game changer
I always said mid 50's, but having changed jobs in 2020 and took a bit of a step back in responsibilities hours etc (although that seems to be creeping back upwards!) I'm enjoying work more than I have in probably 15-20 years. So no plans just yet, but I'll review at 55 and will likely do a more reduced hours at least.
FIRE is fine, just don't take it too far.
My very simple financial advice has always been, if you can (as at the lower earnings end or at certain times in your life it's not always possible) live your life as if your salary is 80% of what it really is.
So that means living to that, to include savings and pensions, everything. The extra 20% is your extra investments/savings. I've been doing that broadly since my early to mid 30's and is a large reason I am where I am.
Conversely I have worked with people earning 3/4/5/10x what I do so some well into the millions who are literally cash and investment poor. All they do is spend to their limit and a bit more. £250k cars, £100k on holidays a year, mostly stuff that devalues.
Imagine you earned £2m a year and couldn't live as if you earned £1.6m! With that extra £200k net invested after 10 years and growth at about 8% you'd have approaching £3m.
Some people will always live to or beyond their means. I've literally know people earning £80k who have more investments and wealth than people earning £1m.
Basically just be sensible, save what you can, watch what you spend, and let compound do it's job.
Usually agree with much of what you say and whilst I appreciate that this is a thread on investments, to me a holiday never "devalues". Life is about memories, you can't take the cash with you. I would spend £100K on holidays every year if I could afford it. They are the best of times and best of memories.
I took the family for 9 weeks to Asia last year with 2 young children. Memories that will last my life time and theirs.
In monetary terms it cost a lot and meant I had to take unpaid leave but I was lucky enough that as a one off I could afford it (partially through one small "investment" with Paddy power)! The holiday was undoubtedly the best investment decision I have ever made.
One of my best friends from school has spent most of his adult life travelling the world and doing cash jobs to get along on a tiny budget. He has lived in more countries than I care to remember and visited much of the planet, met tonnes of people and lived an incredible life. He will never have a family (doesn't want one), and will likely die at a relatively young age given the life choices he makes (I'm surprised he has made it to 46!) but I know he wouldn't change a single piece of it and has accepted that if he lives to a good age he will be potless at the end of it but have spent his "good" years living his best life (sorry, awful phrase!).
Is this right? I have just received a letter from Virgin returning money to me as I had opened a 2nd cash ISA in the tax year. I had opened a fixed rate ISA in January for £5k. I then opened a 2nd with them in March. They have returned this latter money. I had always been under the impression that you can only use one provider but CAN do it in stages. Seems I'm wrong.
I would have to go into the one you originally opened. You can not have 2 ISA's of the same ilk in the same tax year. Even if it's with the same provider.
That's correct as at tax year 2023/24. Different now though - as of 6 April 2024 you can do just that. I believe I've understood the new arrangements correctly but please correct me if I'm wrong.
Correct, except LISA's
I believe the company offering the ISA can choose which of the rules they wish to apply to their products. So can refuse to accept ISA transfer from another provider, can refuse withdrawal and reinvest in same year (flexi ISA) an can refuse to allow a customer more than one ISA per year even if £20,000 not invested.
I’m currently obsessed with the whole FIRE planning and spend a fair amount of time reading up on the various strategies people are using, but you are right, regular contributions plus compound interest is a game changer
I always said mid 50's, but having changed jobs in 2020 and took a bit of a step back in responsibilities hours etc (although that seems to be creeping back upwards!) I'm enjoying work more than I have in probably 15-20 years. So no plans just yet, but I'll review at 55 and will likely do a more reduced hours at least.
FIRE is fine, just don't take it too far.
My very simple financial advice has always been, if you can (as at the lower earnings end or at certain times in your life it's not always possible) live your life as if your salary is 80% of what it really is.
So that means living to that, to include savings and pensions, everything. The extra 20% is your extra investments/savings. I've been doing that broadly since my early to mid 30's and is a large reason I am where I am.
Conversely I have worked with people earning 3/4/5/10x what I do so some well into the millions who are literally cash and investment poor. All they do is spend to their limit and a bit more. £250k cars, £100k on holidays a year, mostly stuff that devalues.
Imagine you earned £2m a year and couldn't live as if you earned £1.6m! With that extra £200k net invested after 10 years and growth at about 8% you'd have approaching £3m.
Some people will always live to or beyond their means. I've literally know people earning £80k who have more investments and wealth than people earning £1m.
Basically just be sensible, save what you can, watch what you spend, and let compound do it's job.
Usually agree with much of what you say and whilst I appreciate that this is a thread on investments, to me a holiday never "devalues". Life is about memories, you can't take the cash with you. I would spend £100K on holidays every year if I could afford it. They are the best of times and best of memories.
I took the family for 9 weeks to Asia last year with 2 young children. Memories that will last my life time and theirs.
In monetary terms it cost a lot and meant I had to take unpaid leave but I was lucky enough that as a one off I could afford it (partially through one small "investment" with Paddy power)! The holiday was undoubtedly the best investment decision I have ever made.
One of my best friends from school has spent most of his adult life travelling the world and doing cash jobs to get along on a tiny budget. He has lived in more countries than I care to remember and visited much of the planet, met tonnes of people and lived an incredible life. He will never have a family (doesn't want one), and will likely die at a relatively young age given the life choices he makes (I'm surprised he has made it to 46!) but I know he wouldn't change a single piece of it and has accepted that if he lives to a good age he will be potless at the end of it but have spent his "good" years living his best life (sorry, awful phrase!).
What's your mate doing now, for example?
Hats off to him
Right now he is painting houses for cash in the north island of NZ which is his adopted country - has has been back there 3 months and for the first time in 2yrs. He comes back to Europe in May, will pass through England quickly to say hello and is likely to spend 6-8 months or so in Eastern Europe. After that, no idea but if it follows last year then he will stay in Europe until December/January time and then head to India for a yoga retreat for a month or two before going to the Whitsundays in Oz to paint some more houses. He worked the ski season in Aspen for a few years and summers on the boats in Florida; slept on beaches in Guatamala, travelled through Central and Southern America... I could go on but you get my drift. I love travelling but his life would not be for me; he is a self confessed selfish man who does everything his way and fair play to him. You only get one go at happiness and this world. (Sorry for de-railing the thread a little!).
The easing down of Middle East tensions has helped push the footsie to a new record. An still the believe by some experts that London is under valued compared to other world indices…..
Seriously considering may be time to reduce my share/fund holdings.
The easing down of Middle East tensions has helped push the footsie to a new record. An still the believe by some experts that London is under valued compared to other world indices…..
Seriously considering may be time to reduce my share/fund holdings.
I think the fall in the pound vs the dollar has had a big part to play in that! But yeah it's been a fantastic day.
The easing down of Middle East tensions has helped push the footsie to a new record. An still the believe by some experts that London is under valued compared to other world indices…..
Seriously considering may be time to reduce my share/fund holdings.
I think the fall in the pound vs the dollar has had a big part to play in that! But yeah it's been a fantastic day.
It'll be a sea of red tomorrow. Come on, you know how these things work!
Looking for some general guidance as a bit of a novice in the investing game.
I’ve got myself into what I think is a decent situation for my age (36) where I don’t have any debt outside of mortgage and have been able to save fairly well.
For years I held off on investing as I was saving for as big a deposit as possible for my house, which I now have. Now I want to do a bit more with my savings so it’s not all just sitting there in cash.
I’ve maxed out Premium Bonds and happy to let that sit there without any risk. I’ve just maxed out last years allowance for Cash ISA with my bank. First time I’ve opened one. I did that in bit of a rush just to use up the allowance as I didn’t want to miss out.
Now I’m thinking of how I can invest in a way that’s a bit more ‘advanced’ without doing anything too complicated or too risky. I’ve been a 45% tax payer the last few years and expecting this year could be similar.
My gut feel is saying that a Stocks and Shares ISA is the way to go as a way of getting started. Potentially then with a view to doing a bit more with stocks once I learn the ropes.
Is my thinking along the right lines here, or is there something more obvious I should be looking at (pension for example)?
Looking for some general guidance as a bit of a novice in the investing game.
I’ve got myself into what I think is a decent situation for my age (36) where I don’t have any debt outside of mortgage and have been able to save fairly well.
For years I held off on investing as I was saving for as big a deposit as possible for my house, which I now have. Now I want to do a bit more with my savings so it’s not all just sitting there in cash.
I’ve maxed out Premium Bonds and happy to let that sit there without any risk. I’ve just maxed out last years allowance for Cash ISA with my bank. First time I’ve opened one. I did that in bit of a rush just to use up the allowance as I didn’t want to miss out.
Now I’m thinking of how I can invest in a way that’s a bit more ‘advanced’ without doing anything too complicated or too risky. I’ve been a 45% tax payer the last few years and expecting this year could be similar.
My gut feel is saying that a Stocks and Shares ISA is the way to go as a way of getting started. Potentially then with a view to doing a bit more with stocks once I learn the ropes.
Is my thinking along the right lines here, or is there something more obvious I should be looking at (pension for example)?
Any ideas much appreciated.
I would usually say ISA first before pension. Yes, a pension gets very good tax relief but at your age it means locking the money up for more than 20 years.
An ISA is much more flexible & if you are lucky enough to save £20k pa over time you'll build up a tidy tax free amount.
Where to invest is the big question. And for that we would need to know your appetite for risk, time horizons & your plans for the future (near & far).
Some people say just put it in a global tracker & forget about it. But trust me, regular reviews really do help.
Comments
Mrs R7L max holding and has for a number of years, since Jan 22 has won £3,950
Me, started dropping down holding over the last 18 months, now about £25k, since Jan 22 £2,050
Daughter, about £26k, since Jan 22 has won £7,350 (that includes one big win of £5k).
Some people are more lucky than others!
I had always been under the impression that you can only use one provider but CAN do it in stages. Seems I'm wrong.
Usually agree with much of what you say and whilst I appreciate that this is a thread on investments, to me a holiday never "devalues". Life is about memories, you can't take the cash with you. I would spend £100K on holidays every year if I could afford it. They are the best of times and best of memories.
I took the family for 9 weeks to Asia last year with 2 young children. Memories that will last my life time and theirs.
In monetary terms it cost a lot and meant I had to take unpaid leave but I was lucky enough that as a one off I could afford it (partially through one small "investment" with Paddy power)! The holiday was undoubtedly the best investment decision I have ever made.
One of my best friends from school has spent most of his adult life travelling the world and doing cash jobs to get along on a tiny budget. He has lived in more countries than I care to remember and visited much of the planet, met tonnes of people and lived an incredible life. He will never have a family (doesn't want one), and will likely die at a relatively young age given the life choices he makes (I'm surprised he has made it to 46!) but I know he wouldn't change a single piece of it and has accepted that if he lives to a good age he will be potless at the end of it but have spent his "good" years living his best life (sorry, awful phrase!).
The bubble will obviously burst but it will cost a tonne to get there! Shame
Liken it to a footballer on £3m a year who spends the lot every year (and a bit more) and a year after their career ends is declared bankrupt.
Your mate sounds like my kind of guy, nothing wrong with what he's doing
That's correct as at tax year 2023/24. Different now though - as of 6 April 2024 you can do just that. I believe I've understood the new arrangements correctly but please correct me if I'm wrong.
Hats off to him
so need to shop around…..
Right now he is painting houses for cash in the north island of NZ which is his adopted country - has has been back there 3 months and for the first time in 2yrs. He comes back to Europe in May, will pass through England quickly to say hello and is likely to spend 6-8 months or so in Eastern Europe.
After that, no idea but if it follows last year then he will stay in Europe until December/January time and then head to India for a yoga retreat for a month or two before going to the Whitsundays in Oz to paint some more houses.
He worked the ski season in Aspen for a few years and summers on the boats in Florida; slept on beaches in Guatamala, travelled through Central and Southern America... I could go on but you get my drift.
I love travelling but his life would not be for me; he is a self confessed selfish man who does everything his way and fair play to him. You only get one go at happiness and this world.
(Sorry for de-railing the thread a little!).
The easing down of Middle East tensions has helped push the footsie to a new record. An still the believe by some experts that London is under valued compared to other world indices…..
Seriously considering may be time to reduce my share/fund holdings.
I’ve got myself into what I think is a decent situation for my age (36) where I don’t have any debt outside of mortgage and have been able to save fairly well.
I’ve maxed out Premium Bonds and happy to let that sit there without any risk. I’ve just maxed out last years allowance for Cash ISA with my bank. First time I’ve opened one. I did that in bit of a rush just to use up the allowance as I didn’t want to miss out.
Now I’m thinking of how I can invest in a way that’s a bit more ‘advanced’ without doing anything too complicated or too risky. I’ve been a 45% tax payer the last few years and expecting this year could be similar.
Is my thinking along the right lines here, or is there something more obvious I should be looking at (pension for example)?
Any ideas much appreciated.
An ISA is much more flexible & if you are lucky enough to save £20k pa over time you'll build up a tidy tax free amount.
Where to invest is the big question. And for that we would need to know your appetite for risk, time horizons & your plans for the future (near & far).
Some people say just put it in a global tracker & forget about it. But trust me, regular reviews really do help.