All,
I'm 25 years old and I haven't really though about savings until now.
I am currently earning a £30K salary, living with my brother in London, hence no rent. I intend to stay with him for the next 5 years (approx). I don't have any savings, and I have little debt (a student loan paying back at £140/month).
I am looking for advice as to how I should begin investing. I was thinking about "Buying to let" somewhere cheaper than London, but after reading many posts on this board, I'm not sure it's such a good idea. Should I be directing my savings towards ISA's & Pensions etc..??
I am thinking about a long term plan here, and I would appreciate a few pointers, as I know little about what my options are.. eg. Property/Pensions/ISA's/???
In about 5 years time, I will want to buy my own property in London, so I will need to release some cash for a deposit. (Although I may be able to loan this from my parents)
Any advice is appreciated!
Vish.