New investor: £20k to put into a Vanguard S+S ISA

I think 100% equities makes sense with your age.

I think you should go for a lump sum deposit. A 1994 paper - Lump-Sum Investing Versus Dollar-Averaging (https://papers.ssrn.com/sol3/papers.cfm?abstract_id=820004) - found that investing in a single lump sum can be expected to provide a higher return. Risk-averse investors who prefer dollar-averaging can accomplish the aim of risk reduction more effectively by lowering the fraction of funds invested in the risky asset and investing them all at once.

In other words, invest in one lump-sum but if you want to balance risk invest some of that money in bonds.

/r/UKInvesting Thread