Personal details
Your age: 54
Your spouse's age: N/A, no spouse
Number and age of children: 1 child, age 26, does not live with me.
Income and expenditure
Annual salary 100,000 plus usually a small bonus
PAYE employee, employer contributes 6% to pension, plus health insurance
Maxing my AVC payments
No major expenditure, small rent payments, home maintenance, food, car, entertainment, etc.
Monthly savings remaining after living expenses about 1,500 - 2,000
Summary of Assets and Liabilities
Mortgage on family home: No mortgage but I do not own the home. Not my asset, never will be.
Cash: 400,000 mostly in various fixed term deposits
Defined Contribution pension fund: current value is around 300,000
Company shares :20,000
Buy to Let Property value: N/A
Buy to let Mortgage: N/A
Total net assets: maybe 730,000 all in, including pension and a few random share investments
Family home mortgage information
I do not own my home but pay minimal rent and cover upkeep, I do not expect this to change in the future.
Other borrowings – car loans/personal loans etc
No debt
Do you pay off your full credit card balance each month? Yes
Pension information
Value of pension fund: 300,000
Buy to let properties
Value: N/A
Other savings and investments:
A few thousand in random shares, maybe 10,000
Other information which might be relevant
I would like to retire by 60, so within the next 5 or 6 years.
I am risk averse when it comes to managing money, I think this has been costing me for years when it comes to savings
What specific question do you have or what issues are of concern to you?
I wanted to get some opinions on how to better make use of my savings. I have been chasing the best fixed term deposit rates I could find for years. I have have some fixed terms maturing soon and the rates available are prompting me to consider investing instead of new deposits.
I am thinking of putting at least 100,000 (25% of savings) into a couple of ETF's, I have tried picking a basket of shares myself at a smaller scale. in the past, and learned that I know nothing!. I am not willing to go down the managed fund route, I tried that in the past and couldn't stomach the high charges versus poor returns. If initial ivestment goes OK I could see myself putting more in over time.
Would you say ETF's are a good way to get a diverse portfolio? I realise I have to take risk if I am looking for a better return that deposit rates, and the exit tax is high.
What I am really looking for is advice on a means of investing in a diverse portfolio that does not require much management from my side. My preference is ETF's over managed funds, would you agree? Any other investment vehicles I should be considering (I have no interest in investing in propoerty and becoming a landlord!)
Bonus question: If I invest in ETF's through a broker (like Degiro), what happens if the broker goes bust? Are the ETF's in my name or how does that work?
Thanks
Your age: 54
Your spouse's age: N/A, no spouse
Number and age of children: 1 child, age 26, does not live with me.
Income and expenditure
Annual salary 100,000 plus usually a small bonus
PAYE employee, employer contributes 6% to pension, plus health insurance
Maxing my AVC payments
No major expenditure, small rent payments, home maintenance, food, car, entertainment, etc.
Monthly savings remaining after living expenses about 1,500 - 2,000
Summary of Assets and Liabilities
Mortgage on family home: No mortgage but I do not own the home. Not my asset, never will be.
Cash: 400,000 mostly in various fixed term deposits
Defined Contribution pension fund: current value is around 300,000
Company shares :20,000
Buy to Let Property value: N/A
Buy to let Mortgage: N/A
Total net assets: maybe 730,000 all in, including pension and a few random share investments
Family home mortgage information
I do not own my home but pay minimal rent and cover upkeep, I do not expect this to change in the future.
Other borrowings – car loans/personal loans etc
No debt
Do you pay off your full credit card balance each month? Yes
Pension information
Value of pension fund: 300,000
Buy to let properties
Value: N/A
Other savings and investments:
A few thousand in random shares, maybe 10,000
Other information which might be relevant
I would like to retire by 60, so within the next 5 or 6 years.
I am risk averse when it comes to managing money, I think this has been costing me for years when it comes to savings
What specific question do you have or what issues are of concern to you?
I wanted to get some opinions on how to better make use of my savings. I have been chasing the best fixed term deposit rates I could find for years. I have have some fixed terms maturing soon and the rates available are prompting me to consider investing instead of new deposits.
I am thinking of putting at least 100,000 (25% of savings) into a couple of ETF's, I have tried picking a basket of shares myself at a smaller scale. in the past, and learned that I know nothing!. I am not willing to go down the managed fund route, I tried that in the past and couldn't stomach the high charges versus poor returns. If initial ivestment goes OK I could see myself putting more in over time.
Would you say ETF's are a good way to get a diverse portfolio? I realise I have to take risk if I am looking for a better return that deposit rates, and the exit tax is high.
What I am really looking for is advice on a means of investing in a diverse portfolio that does not require much management from my side. My preference is ETF's over managed funds, would you agree? Any other investment vehicles I should be considering (I have no interest in investing in propoerty and becoming a landlord!)
Bonus question: If I invest in ETF's through a broker (like Degiro), what happens if the broker goes bust? Are the ETF's in my name or how does that work?
Thanks