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Aye. As long as the money you’re putting in isn’t earmarked for anything within the next couple of years. General principle is you should give investments 5yrs timeframe in case there’s a down turn early on.With bank accounts earning F.A interest now and losing value do many On here bother with shares ISAs ?
Never had one so don’t know much about them
Well worth considering especially considering savings account interest rates are the square root of bugger all.
Simplest way is just to setup a monthly standing order (£50-100 a month or whatever you can afford) into a low cost tracker ( The Vanguard LifeStrategy funds are very popular) and then forget about it for at least 10 years. The route to insanity is checking up on the valuation of it every day. I'd look for a fund which has a wide exposure to the UK, US and other markets so that a bad performance in one sector doesn't wipe you out. Any money purely in the London FTSE would have done badly last year but the US market still did well despite the pandemic and Trump (or maybe because of Trump). Don't touch individual shares unless you are prepared to lose all of your money.
The disadvantage of a S&S ISA compared to a pension is that you don't get the tax back but you can access the money at any time.
As I posted in another thread earlier today.
7 years is a little on the low side but as long as you steer clear of high risk areas then you should still be able to get an average of 5% a year. Just be prepared for some big drops due to domestic/world events but the long terms trend is always upwards.
What thread was that on mate ?
Have a 60% and 100% one.I have a vanguard 60% as well i think. Last year took a hit, but as said peaks n troughs over time. Mine will be in for 20 years alongside pension.
But you don’t pay tax when you take it out, unlike a pension. And you can take it out when you like, unlike a pension. If you want to retire before 57 best to do a bit of both.So basically is it just same as a pension but no govt tax relief added ?
Already set up a vanguard life strategy SIPP pension for the wife but can’t pay much into it as is capped at earnings
So basically is it just same as a pension but no govt tax relief added ?
Already set up a vanguard life strategy SIPP pension for the wife but can’t pay much into it as is capped at earnings
When people quote % are you referring to shares % compared to cash ?Have a 60% and 100% one.
average over the 3 Yrs is 25%
tempted to put this years allowance in before April.
Very easy to deal with .
Changed the management fee to come out of another account rather than the investment accounts
So basically is it just same as a pension but no govt tax relief added ?
Already set up a vanguard life strategy SIPP pension for the wife but can’t pay much into it as is capped at earnings
When people quote % are you referring to shares % compared to cash ?
Obviously I don’t know every fund performance, but, I think if you picked a selection, you’d be pushed to find any that weren’t in profit after 7yrs.As I posted in another thread earlier today.
7 years is a little on the low side but as long as you steer clear of high risk areas then you should still be able to get an average of 5% a year. Just be prepared for some big drops due to domestic/world events but the long terms trend is always upwards.
With bank accounts earning F.A interest now and losing value do many On here bother with shares ISAs ?
Never had one so don’t know much about them