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Stocks n Shares ISA
- Thread starter Fletch
- Start date
42
Striker
D
Deleted member 26533
Guest
Planning on putting in £20k now and 10 in the new tax year. I take its thats a Vanguard Life Strategy 60 % (Acc)
I have deposited £100 so far just to make sure I have done it right. Hope I have the right one
Remember you just need the cash in before the new tax year. It doesn't need to be in the fund, so you may want the actual unit investments over a few chunks, as opposed to 30k in one concentrated whack and 10k over the rest of the tax year. Just something to consider
Why do prices not naturally fall back in late March/ early April under the laws of supply and demand, with people whacking money into funds?
Chalks
Winger
Anar, not what anyone expected , hopefully rebounds as it’s only 1% dilution for 75% of another company . Still confident of the asset sale soon
wardleymackum
Winger
woodlebert
Striker
If you’re looking for a basic fund the LifeStrategy ones are decent or a basic global index like Vanguard’s All World
I’ve bought in today on the drop so I hope you’re right.
Chalks
Winger
You’ll be fine, best opportunity on AIM
Because individual ISA investors are but a drop in the ocean that contains vast pension funds investing huge sums.
pfoz88
Winger
I’ve been thinking of ditching the company who have been managing my pension funds for the last 10 years. They’ve amalgamated pensions I had from several previous employers, including a Db transfer, and I really can’t see me changing anything from here till retirement (touch wood). I reckon that between now and then, maybe 10 years, I could be 30 or 40k better off without their fees, which could mean I could jack in a year early. As others have said, maybe speak to an adviser every few years independently and tweak as necessary. Not sure what to do for the best.
Seaham Towny
Striker
I work for a financial provider but first to admit I haven’t the faintest idea about this.
I’ve got a grand in savings but it’s at zero interest and instant access. I don’t anticipate dipping into it in the near to medium term future.
Is it worth opening either one of these or a LISA? Or has the LISA finished now.
For background - I’m married, a year into a mortgage of 115k with a 7k deposit, no kids.
I’ve got a grand in savings but it’s at zero interest and instant access. I don’t anticipate dipping into it in the near to medium term future.
Is it worth opening either one of these or a LISA? Or has the LISA finished now.
For background - I’m married, a year into a mortgage of 115k with a 7k deposit, no kids.
If you’ve already bought a house you’ll only benefit from a LISA if you’re happy to leave it until you’re 60. It replicates a pension. Withdraw it before then, you lose the bonus & a little bit on top of that. Assuming you’re still at the same employer I think you are, make sure you’re putting your 6% into your pension & they’ll do the 17% & 3% extra (again, I’m assuming you’re on the older scheme?) Even then, because they do salary sacrifice, you’d be better off putting additional money into your pension rather than a LISA as you’ll pay less national insurance. I’m not sure, but your employer might even pay back their NI savings too meaning a bigger contribution to your pension. Also, you can get your pension at 57 (under current rules) but LISA is 60 (could look at that as a good or bad thing).
Deleted User 11453
Striker
What happens is the savvy investors sell all of their shares on April 6th each year to novice investors at a massive profit.
Then when the market dips in the Summer, the savvy investors load up with the shares that the novice investors sell at a loss.
D
Deleted member 26533
Guest
Last contribution to use up the yearly allowance sorted! Split between my Shawbrook cash ISA and several vanguard funds.
42
Striker
If £1,000 is your only savings, then I wouldn't be investing yet. It's generally prudent to have a few months of take home pay in easy access cash accounts as a safety net before starting investing.
Virgin money pay 2% on balances upto £1,000 on their current account, and 0.35% on linked savings account.
Lloyd's have a current account that pays 0.6% on balances upto £4k then 1.5% on £4k-£5k. So will get 0.78% if have full £5k.
Seaham Towny
Striker
Good advice but don’t think I’m on the older scheme. I can amend it any time like.
I’m not sure if the newer scheme, have a world with HR & find out what’s available. However @42 is spot on above, that you do need a emergency fund of cash too. First rule is protect what you’ve got, so making sure you can pay your bills & put food on the table if you loose your income stream is essential.
Edinburgh Black Cat
Striker
H&B ISA. All the benefits of a standard hookers and blow set up but without the tax implications.
On a serious note, it depends. When you want access to your money, what your attitude to risk is, what your pension situation is, what your tax situation is, etc.
On LISAs, it seems there is a very limited number of people these benefit as a retirement saving tool. I've just opened one but I'm not totally sure it's right for me.
H&B ISA. All the benefits of a standard hookers and blow set up but without the tax implications.
On a serious note, it depends. When you want access to your money, what your attitude to risk is, what your pension situation is, what your tax situation is, etc.
On LISAs, it seems there is a very limited number of people these benefit as a retirement saving tool. I've just opened one but I'm not totally sure it's right for me.
Darlo1973
Striker
I'd concentrate on building up your cash savings before thinking of investing. A grand won't last long if you lose your job. Could you both afford to live of you other half's income? Worst case scenario would be if you were both out of work at the same time especially if kids came along.
