I am a first time investor looking at a higher risk strategy

18 August 2021

Question by Ernie

I am a first time investor with £750 to invest and would look to leave the money for a least five years perhaps in an ISA and am looking at the higher risk strategy. Would I be able to feed in other payments say of £100 or so if and when the time arises? Many thanks


Answered by Boring Money

Hi Ernie, prior to deciding on what investment wrapper you should use, I think it's beneficial to understand more around your current position and what the money is ultimately for. If it is for your later years, then perhaps we should consider the benefits of using a pension alongside your ISA.

When it comes to choose the risk positions of an investment, I am a believer in investing in line with your attitude to risk and objectives to loss, rather than selecting a profile.

With regard to contributing to your holdings on an ad-hoc basis, this is an option available and ad-hoc payment can be facilitated, though, I’d consider starting a direct debit for an affordable amount so you get in the habit of saving and benefit from pound-cost averaging, as this will help smooth out market volatility.

Answered by

Boring Money