My Wife & I currently have circa £3000 a month of disposable income and we're debating what best to do with it. We plan to make the most of our ISA allowances, but this still leaves £2,400 a month to invest / save.

We're considering the following:-

1) Make overpayments on our current mortgage.

2) Purchase a 2nd property.

We're also open to suggestions.

For your information, neither of us have a pension and we have no plans to go down that route.

Your advice will be greatly appreciated.

1) If you can get a better net rate of savings than the rate your mortgage is on, then mortgage overpayments might not be financially wise, although personally, the difference for mine is negligible, so I do make overpayments.

2) It all depends, really - are you willing to invest in property as a form of savings for retirement?

In another post, I mentioned that the advertised rate of regular savers aren't as high as they might seem. The advertised rate of A&L, for example, is 12% gross, 9.6% net, but you would get about 4.7% return on the total sum in a year you invest. So if you invested 2400 regularly a month (28800 in total), you get about 1350 in interest in the first year (but the rate is lower after that). You might want to consider regular savings for one year rather than property or pensions (ugh!) because you'll know what you get, then re-evaluate your position again after that, by looking for the next regular saver or in some other ways.

Do you like living dangerously? Perhaps you could invest the money in another way - gambling! I know, I know, gambling is a mugs game etc and the only person who wins is the bookmaker blah blah. However, with the introduction of spread betting, there are great opportunities to actually become a bookmaker offering bets to other punters.

I invested £7000 into a cash and stock isa in march and to be honest, even though its only been a few months, im not terribly impressed with the interest earned. I used to gamble quite a lot a few years ago, and if I had £7000 to gamble with my returns would be far greater than the poxy interest rates ive earned so far.

I guess it depends on how close you like living to the edge though. Me, Im gonna have to seriously reconsider my isa options. Tax free? Yeah, great. But, high interest? Hardly.

Anyone recommend any high risk investment plans?