Self-invested personal pension

At the moment, it stands at £9,000.

A Junior SIP stands for Self-Invested Personal Pension.

And much like an adult pension or SIP, you can contribute up to £2,880.

And with government tax relief, that's an extra £720, takes you to £3,600.

I came here without knowing the language or knowing anyone, so as you can imagine, it was not an easy ride.

Nevertheless, I managed to buy a two-bedroom, two-bathroom apartment in London two years ago, and after that was done, I have finally opened a stocks and shares ISA and SIPP.

So far, I have 65,000 split between them in VWRP Vanguard?

Vanguard?It's, um, uh-

"My problem is my accountant.

After years of not telling me to [laughs]...

After years of telling me not to open a SIPP as I don't make enough, discouraging me not to invest as it is risky and I wouldn't understand it and so on, this year was the final straw.

How-"

they just blew it.

I went and studied about things called SIPPs and SSAS.

So self-invested personal pensions and small self-administered schemes.

And I discovered that you could manage your own pension investments.

What you could do is you could pay all that into your pension.

So a SIPP pension, which is a self-invested personal pension.

If you were going to pay yourself 100 grand, and as we've discussed, you lose 25 to go up wherever it goes, and then you lose personal tax.

If you just put that into your SIP pension, that goes up.

You can invest in shares across twenty-four stock markets, bonds, ETFs, and invest in more than four thousand funds.

You also get pretty much all the account types that most investors will ever need, including a GIA, General Investment Account, ISA, Junior SIPP, and SIPP.

The pricing is competitive, the platform is easy to use, and there's some very good investment research.

And unlike some of the newer investing apps, AJ Bell is suitable for someone starting with a relatively small portfolio, but also has enough depth to keep using as that portfolio gets larger.

Now, index funds have become incredibly popular because they're simple, diversified, and usually very cheap.

So rather than paying a fund manager to decide which companies are going to outperform, you're essentially just buying the entire market.

You can hold index funds inside a general investment account, stocks and shares ISA or SIPP.

But which is the best account for buying low-cost investment funds? Our top-rated platform for low-cost index fund investing is AJ Bell.

And Making Money Simple has been a limited company since 2020.

And over the last six years, I've essentially managed to put about 26k of that company money, um, and get it out of the company, either through a dividend or through a SIPP contribution, which is tax efficient, to get that into my investment pot.

So I don't know where I was going with all of that, but long story short, the total-- 'cause everyone wants to know, like, what I, I put into the pot and what the gains are.

So the value was 203k.

Your capital is a risk and the value of investments and even my global index funds do go up and down.

Um, but my biggest investment by a mile is the Vanguard FTSE Global All Cap.

That is 100% of my Vanguard ISA, Vanguard SIPP and HL stocks and shares lifetime ISA.

I then also have a trading two on two stocks and shares ISA and trading two on two SIPP that is all invested in ALLG, which is a brand new FTSE All-World fund from Xtrackers, the lowest fee fund on the market right now.