💡 Hey fellow teachers! Are you currently juggling investments and wondering if adding a SIPP to the mix is worth it? 🤔 Let’s dive into the discussion!
I started teaching in 2017 and have investments in a robo type investment ISA and a high-risk investment LISA. Now, I’m considering opening a SIPP, specifically looking at Vanguard life funds.
Here are some points to consider:
– Your pension is already in the 1/57th scheme.
– Your current investments are high risk and overlap in some areas.
– Opening a SIPP can offer additional tax benefits and control over your investments.
– Vanguard life funds are popular for their low fees and diversified investment options.
Based on your financial goals, risk tolerance, and retirement plans, adding a SIPP could potentially enhance your investment portfolio and provide more flexibility in your retirement planning. It’s always a good idea to consult with a financial advisor to explore the best options for your situation.
What are your thoughts? Have you considered opening a SIPP or have experience with Vanguard life funds? Let’s chat and share insights! 💬💰 #TeacherInvestments #SIPP #VanguardLifeFunds #RetirementPlanning
It depends entirely on your circumstances and goals. If you’re a basic rate taxpayer then a LISA should be better than a pension. If you’re a higher rate taxpayer then the pension should be better.
If you won’t need the money until retirement, look at a pension. If you’ll need the money before retirement, for example buying a larger house, consider an ISA. What is the ultimate purpose of this money?
It sounds to me like you also need to do more research on the investments you hold as well. What does the “high risk” ISA and LISA invest in? What are the charges?
Exploring a SIPP alongside your current investments shows you’re planning wisely for your future. It could be a strategic move for retirement security.