Sorry, I couldn't be bothered to find and bump my previous thread. I've finally decided to pull my finger out and start putting something away for the future. The more I think about it and procrastinate, the more I'm potentially losing gains on any investments.
I already have a Charles Stanley platform account which I'm happy with. I currently have an ISA which I opened recently and I'm putting £200/month away for a rainy day. It's invested in a balanced portfolio with medium risk that I let their platform put together. I also have two junior ISAs for my daughters on there too, both invested into Vanguard Lifestrategy 80.
My plan is to create a new SIPP and start making company contributions. This will vary depending on company performance but I'll be aiming for approx. £1000-1500 a month. Personally I can probably afford to stick another £100 a month in there plus occasional lump sums as my general savings budget overflows.
In terms of investing I want something I can forget about so the plan is to stick it all in either Lifestrategy 80 or 100, probably 80. Forget about it until my portfolio hits 6 figures at which point I can take professional advice on diversifying if necessary.
On the basis that nothing is ever certain with investing and I don't want to think about this too much, does this sound like a reasonable plan? Anything you'd do differently? I'm 35 now. I'd love to retire at 55 but realistically I'm probably looking at at least 25 years before I have a decent pension pot. I've looked at a few growth calculators which seem to suggest a regular monthly investment of £1200 for 25 years would give me a pot of about £835,537 with 6% annual growth which seems like it should give a fairly comfortable annual income after a 25% lump sum.
I already have a Charles Stanley platform account which I'm happy with. I currently have an ISA which I opened recently and I'm putting £200/month away for a rainy day. It's invested in a balanced portfolio with medium risk that I let their platform put together. I also have two junior ISAs for my daughters on there too, both invested into Vanguard Lifestrategy 80.
My plan is to create a new SIPP and start making company contributions. This will vary depending on company performance but I'll be aiming for approx. £1000-1500 a month. Personally I can probably afford to stick another £100 a month in there plus occasional lump sums as my general savings budget overflows.
In terms of investing I want something I can forget about so the plan is to stick it all in either Lifestrategy 80 or 100, probably 80. Forget about it until my portfolio hits 6 figures at which point I can take professional advice on diversifying if necessary.
On the basis that nothing is ever certain with investing and I don't want to think about this too much, does this sound like a reasonable plan? Anything you'd do differently? I'm 35 now. I'd love to retire at 55 but realistically I'm probably looking at at least 25 years before I have a decent pension pot. I've looked at a few growth calculators which seem to suggest a regular monthly investment of £1200 for 25 years would give me a pot of about £835,537 with 6% annual growth which seems like it should give a fairly comfortable annual income after a 25% lump sum.
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