First step to investing

For any readers that might actual be here, this blog hasn’t turned into a purely personal finance blog, I am just starting to think about my future and have been a bit slack with my fitness.

I previously posted about our debts and future here and I opened up a S&S ISA. As of today I have £25 in the account and by June 2017 I’ll have £200 in there waiting to invest. I am thinking of mainly investing in funds rather than shares and have three in mind. I am not sure yet whether to invest a small amount in all three or build one up to £1000 then invest in the next one etc.

I am also planning on saving £50 a month somewhere else. I can’t decide if I should open a Lifetime ISA or invest in a 2nd NHS pension. I think I need to get advice for someone who knows about these kinds of things. I kind of like the idea that I would get a lump sum with the pension and a small income each year. With the Lifetime ISA it would all be just sitting there staring me in the face.

I also want to save an emergency/rental deposit fund so need to fit that in somewhere too.

My main aim with all this is to be able to live off the dividends each year. As I am getting an NHS pension I have already said good bye to the state pension.

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