Reddit mentions of The Financial Wellbeing Book: Creating Financial Peace of Mind (Concise Advice)

> Questions
> -I think my pension and ISA fund choices are reasonable, given that I'm relatively young and have selected a diverse range of equity tracker funds. Would you agree? I have a bias against vanguard life strategy funds due to myself wanting to reduce UK exposure in light of brexit, apart from my uk equity index in my pension.

You're making a major Europe/EM play in your ISA, and have ended up with odd allocations in your pension, too. Why not just grab an all world index if you're worried about UK bias? There are plenty around.

> -I have no real goals apart from putting more and more money into my ISA for the long term, what would be some sensible goals?

What do you want to do with your money? Why is it important to you? Do you want to be sitting on a beach at 50? On a yacht at 60? At your desk at 75? Why?

These are all things you should be thinking about. There is a great book written by a well-respected financial planner called "The Financial Wellbeing Book" which aims to help you work through some of these questions - it might be a good start. https://www.amazon.co.uk/dp/B01N64B38N/ref=docs-os-doi_0

> -Apart from that I'd like views on my financial position, and what I can do to improve upon it. I know I could probably reduce my expenses and pay more into my ISA, but I don't really see a need to tighten my belt in terms of lifestyle, as I have already own my own property and make good amounts of investments. I suppose I could start planning for an early retirement.

Money allocation is resource management. Until you decide what your long-term goals are, it's very hard to comment. As it stands you're saving 20% of salary into a pension, have a mortgage-free property in London and making additional savings in S&S ISAs, so there's nothing screaming out anyway.

> -Would it be worth getting a credit card to improve on my credit score? I don't know if this is necessary, as I have no inentions on taking out any loans in the future as of yet, nor can I see a scenario where I would need one. I'm on the electoral register, and haven't been in debt, so would that be good enough for my credit score?

Choice is valuable, and whilst you don't foresee taking on any debt now, you may want to set up your own business in the future (for example), or buy a huge house, or buy into a partnership, and all these things will require credit-worthiness.

Not only that, but you are missing out on free money by way of cashback. I don't ever carry a balance on a credit card, and in the last year have made over £300 in cashback, thanks to doing all daily spending on one and repaying in full.