Being late on the game of taking control of my finances. I've opened up a Vanguard product. Is it recommended from a logically investment standpoint to consolidate your S&S ISAs into one pot or keep several on the go simultaneously?
Posted Mar 30, 2021, 9:18 AM UTC
What do you mean by a 'pot'? Are you talking about investing in different funds, or the same investments via multiple S&S accounts?
The same investment won't grow any faster or slower if it's divided into smaller ports or merged into one pot. Note that you can only contribute to one S&S ISA per year and that many providers (although not Vanguard) charge you to trade, so it generally makes more sense to just have one account rather than many.
Diversifying your investments is a different matter: https://ukpersonal.finance/index-funds/
Id prefer to consolidate it makes things less hassle and I like seeing it build. Also some motivation for you on an article I was just reading enjoy. https://fourpillarfreedom.com/the-math-behind-why-net-worth-goes-crazy-after-the-first-100k/
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It's really up to you, but you can only subscribe to (add new money) to one S&S ISA per tax year.
I'd look to keep costs down if possible too by consolidation, but depending on what you want to invest in, holding everything with Vanguard Investor may not be possible.