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Updated about 4 years ago on .

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Tom Dicker
1
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1
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Save for house, Invest in S&S or both - UK

Tom Dicker
Posted

Hi, as a first time house buyer in the UK - I am in a predicament. I am 28 and have only just realized that financial independence is possible for someone from my background. I had no knowledge of finance or investing up until bout 6 months ago, and I have been researching ever since. Right now, I have an interest in investing in an index fund such as Vanguard global all cap. Low risk, long term investments which will benefit me in 20 years plus.

Me and the Mrs are buying a house, and we aim to do this by the end of 2021. We currently earn around 55k between the two of us and have a tidy deposit of £25,000 ($34k), not including our Hep to Buy ISA's which will give us a boost on top of that.

So my question is - do I fully focus on saving my current income towards the house deposit and then start monthly investments once the house is secured, or do I do a mixture of both now?