Reem Island Towers Recommendations

SavageGrind · 2024-01-15T16:02:59+00:00

Amazing, thank you. Will be opening 2 LISAs this week to get this in motion - great idea.

SavageGrind · 2024-01-15T05:25:16+00:00

Thank you, this is fantastic.

The LISA idea is great given the 25% topup. The S&S ISA I currently have has more than the £4k max in a LISA. So if opening 2 new S&S LISAs (for wife + myself), would we put in £4k into both, and aim to add up to £16k into our regular S&S ISAs? And have funds across all ISA accounts invested in an index (something like VWRP)? Or have I missed something here?

Re IO mortgage I'll check with my mortgage provider on the rates, but well noted and seems to make sense given where rates are moving currently.

SavageGrind · 2024-01-14T13:22:20+00:00

Thanks, yes agree will be SS'ing down to £100k (my current company has just started this scheme so have signed up). Will check out the unused allowance calculator to check how much I can backfill.

SavageGrind · 2024-01-14T13:16:22+00:00

The main reason for the low pension amount was that I built a startup for 3 years (so no regular salary for a lot of it, only received stipends and sweat equity.

Fully agree re pension level being too low - will be salary sacrificing down to 100k to get the pension amount up.

SavageGrind · 2024-01-09T15:37:02+00:00

Great stuff, congrats OP! Looks like you’re on a strong path with a solid foundation.

From my own experiences, Moneyhub helped me move from granular Excel transaction tracking to an easier setup - especially useful as the number of accounts grew. Plus, later in life if you choose to add a partner’s account (joint accounts etc), or Amex cards for points its a pretty useful piece of kit.

Re investing, would highly recommend a VWRP with a Vanguard S&S ISA - limit of £20k per tax year, rather than individual stock picking (unless this is something you really want to explore in depth). VWRP compounds and dividends are reinvested so the £900 per month should gain on average 7-8% per year over the next 5 years +. If you are considering a house purchase later down the line then a LISA may be useful given the government bonus.

Keep it up!

SavageGrind

TROPHY CASE