Been an interesting couple of months on my Pensions/ISA's
I switched provider during June for my main pension and one of my ISA's, it took longer than expected meaning I was holding all as cash from around the beginning of March so I missed the big dip.
Having moved it in late June I dropped just over 1% that month. However July it bounced back big time, up by almost 6% So far August looks pretty too, up almost 1%.
Anyone else seen a big bounce back?
My largest holding (around 25%) is in an S&P 500 tracker which has performed the best, up nearly 9% since transferring towards the end of June.
That's the big low point time for most of my funds. It's hard to be precise with the pathetic information H-L provide, but Vanguard 40% LifeStrategy is up just over 6% from that point.
I am not banking on further progress from here. It's interesting that there are tentative mutterings that inflation in the US may have peaked, and that will certainly help you if you have such a large holding in that tracker, but it's still 'may', and in the UK we have the ridiculous Tory leadership contest stalling much needed action to contain energy -led inflation. And in Europe we brace for a tough winter with gas shortages.
Over here I have 5.3% on a bank term deposit of 9 months. Took it three weeks ago. It will be a good investment if the Czech crown holds against sterling. Last few months it has done. And anyway it will be cash I need for taking our house 'renewable', which itself is a top investment.
I didn't see any significant new savings rate increases yet from UK outlets following the rate rise last week. Lamentable. 2.15% is currently best I have from some bank I'd never heard of on Raisin.
The high street/well known banks have been dire on savings for many many years and no sign of that massively changing. My banks (HSBC and First direct) pay 0.2% on their instant access! Although bonus pays 1.31% I think if you don't make any withdrawals in the month.
That said shop around and now 3%+ is available for 1 year fixed, very little difference to that and the 2/3/5 year fixes.
Chase and Marcus are now both at 1.5% with instant access.
Just from H-L's active savings page, they are offering the following, all protected under FSCS:
Instant 1.1%
6m 2.01%
9m 2.36%
12m 2.85%
18m 2.9%
24m 3.15%
These wont be the absolute highest rates you can find but a good idea of what's out there. Bear in mind base rates are likely to increase again when considering whether or not to lock into a rate offered now.
Re investments. I finally got Golfie Jnr to move his Child Trust Fund into an ISA now he's 18 (will be 19 next month so you can see how long it's taken him) and to also add into it his 18th birthday money that's been sitting in his bank account all that time too.
Over the month it's been in there it's made 3.7%. He's loving seeing the money grow day by day but I've warned him that the gains (and more) could all be wiped out tomorrow.
As @PragueAddick said - June was about the lowest funds got to and now we are seeing a small recovery. No idea how long it will last & my usual pessimistic self came to the fore when selecting my FTSE level for 31st Dec - some 400 points lower than it is today. 😔
Been an interesting couple of months on my Pensions/ISA's
I switched provider during June for my main pension and one of my ISA's, it took longer than expected meaning I was holding all as cash from around the beginning of March so I missed the big dip.
Having moved it in late June I dropped just over 1% that month. However July it bounced back big time, up by almost 6% So far August looks pretty too, up almost 1%.
Anyone else seen a big bounce back?
My largest holding (around 25%) is in an S&P 500 tracker which has performed the best, up nearly 9% since transferring towards the end of June.
That's the big low point time for most of my funds. It's hard to be precise with the pathetic information H-L provide, but Vanguard 40% LifeStrategy is up just over 6% from that point.
I am not banking on further progress from here. It's interesting that there are tentative mutterings that inflation in the US may have peaked, and that will certainly help you if you have such a large holding in that tracker, but it's still 'may', and in the UK we have the ridiculous Tory leadership contest stalling much needed action to contain energy -led inflation. And in Europe we brace for a tough winter with gas shortages.
Over here I have 5.3% on a bank term deposit of 9 months. Took it three weeks ago. It will be a good investment if the Czech crown holds against sterling. Last few months it has done. And anyway it will be cash I need for taking our house 'renewable', which itself is a top investment.
I didn't see any significant new savings rate increases yet from UK outlets following the rate rise last week. Lamentable. 2.15% is currently best I have from some bank I'd never heard of on Raisin.
The high street/well known banks have been dire on savings for many many years and no sign of that massively changing. My banks (HSBC and First direct) pay 0.2% on their instant access! Although bonus pays 1.31% I think if you don't make any withdrawals in the month.
That said shop around and now 3%+ is available for 1 year fixed, very little difference to that and the 2/3/5 year fixes.
Chase and Marcus are now both at 1.5% with instant access.
Theres a few above that like Zopa at 1.8%+ - I'm not holding lots of cash so can't be bothered to chase the headline rate for a few quid.
I currently have 15k sitting in a Barclays account earning zilch.
Any advice where it can earn a bit of interest without risk Ta.
@Blackpool72 Open a Chase Account (if you have a smart phone). Their saver is paying 1.5%. Their current is paying 1% cashback on most everyday purchases (there are exceptions).
That’s the one, really useful, used this guide for years.
Also logon to “Thisismoney.com” go to “Saving and Banking” section. On the right is a Best Buy savings table. This shows all the best accounts available by type, Easy Access, Fixed Rate Bonds etc.
I’d appreciate some advice please. I’ve got several small pension plans. Got a statement for one today saying that its current value is 115k. The future premiums will add up to 20k over the next 7 years until I reach 65, but they state that the estimated value will then be 70k, i.e. they’ll lose my future premiums and 45k in value in next 7 years! What am I missing here?
I’d appreciate some advice please. I’ve got several small pension plans. Got a statement for one today saying that its current value is 115k. The future premiums will add up to 20k over the next 7 years until I reach 65, but they state that the estimated value will then be 70k, i.e. they’ll lose my future premiums and 45k in value in next 7 years! What am I missing here?
Seems very odd, would need to see the full text to try and understand it. What's it invested in? Say it's in cash earning 1% then maybe they are saying due to inflation the true buying value of your fund will reduce to £70k in todays terms?
I’d appreciate some advice please. I’ve got several small pension plans. Got a statement for one today saying that its current value is 115k. The future premiums will add up to 20k over the next 7 years until I reach 65, but they state that the estimated value will then be 70k, i.e. they’ll lose my future premiums and 45k in value in next 7 years! What am I missing here?
You must be reading this wrong. Why would anybody forecast losing the sums you have mentioned. I’d get a mate with some financial knowledge to take a read. There has to be a reasonable explanation.
Been an interesting couple of months on my Pensions/ISA's
I switched provider during June for my main pension and one of my ISA's, it took longer than expected meaning I was holding all as cash from around the beginning of March so I missed the big dip.
Having moved it in late June I dropped just over 1% that month. However July it bounced back big time, up by almost 6% So far August looks pretty too, up almost 1%.
Anyone else seen a big bounce back?
My largest holding (around 25%) is in an S&P 500 tracker which has performed the best, up nearly 9% since transferring towards the end of June.
That's the big low point time for most of my funds. It's hard to be precise with the pathetic information H-L provide, but Vanguard 40% LifeStrategy is up just over 6% from that point.
I am not banking on further progress from here. It's interesting that there are tentative mutterings that inflation in the US may have peaked, and that will certainly help you if you have such a large holding in that tracker, but it's still 'may', and in the UK we have the ridiculous Tory leadership contest stalling much needed action to contain energy -led inflation. And in Europe we brace for a tough winter with gas shortages.
Over here I have 5.3% on a bank term deposit of 9 months. Took it three weeks ago. It will be a good investment if the Czech crown holds against sterling. Last few months it has done. And anyway it will be cash I need for taking our house 'renewable', which itself is a top investment.
I didn't see any significant new savings rate increases yet from UK outlets following the rate rise last week. Lamentable. 2.15% is currently best I have from some bank I'd never heard of on Raisin.
The high street/well known banks have been dire on savings for many many years and no sign of that massively changing. My banks (HSBC and First direct) pay 0.2% on their instant access! Although bonus pays 1.31% I think if you don't make any withdrawals in the month.
That said shop around and now 3%+ is available for 1 year fixed, very little difference to that and the 2/3/5 year fixes.
Chase and Marcus are now both at 1.5% with instant access.
I already have money in Chase, also a dormant account with Marcus. Chase have not moved further up with the latest bank rate increase.
I don’t think I’ve seen a normal bank offering 3% for as little as one year, maybe a Mid East/ sharia bank on Raisin but I am not putting any money there.
The trouble with H-L ‘s Active Savings, which they are always mailing me about, is that you’ll be paying them a fee. Which isn’t great when the returns are so low anyway.
I’d appreciate some advice please. I’ve got several small pension plans. Got a statement for one today saying that its current value is 115k. The future premiums will add up to 20k over the next 7 years until I reach 65, but they state that the estimated value will then be 70k, i.e. they’ll lose my future premiums and 45k in value in next 7 years! What am I missing here?
About £65K if my maths is right.
Worth trawling through the statement in detail, and if it doesnt make sense give them a call. Could just be an admin mix up.
Thanks for the replies! The bulk of it seems to be invested in the Sun Life of Canada managed 2 account A102A and that seems to show general growth but with some ups and downs. I’ll give them a call.
I was wondering though, if pension plans are generally tailored to the length of the payment period? I had an endowment mortgage over a 25 year period and it was always forecasted for a shortfall but in the last 3 years it came good, would a pension plan be like that or is it just luck?
I currently have 15k sitting in a Barclays account earning zilch.
Any advice where it can earn a bit of interest without risk Ta.
@Blackpool72 Open a Chase Account (if you have a smart phone). Their saver is paying 1.5%. Their current is paying 1% cashback on most everyday purchases (there are exceptions).
Thanks for the replies! The bulk of it seems to be invested in the Sun Life of Canada managed 2 account A102A and that seems to show general growth but with some ups and downs. I’ll give them a call.
I was wondering though, if pension plans are generally tailored to the length of the payment period? I had an endowment mortgage over a 25 year period and it was always forecasted for a shortfall but in the last 3 years it came good, would a pension plan be like that or is it just luck?
You really need to take advice.
A pension (assuming its not invested in a with profits fund) will not alter greatly at the end. The shortfall you had on your endowment was probably made up at the end with a terminal bonus (if with profits) but without the full details no-one can comment.
Your pension statement might be forecasting on a low growth rate if the fund invests in a lot of bonds or cash. Then combined with future inflation it might come out as a negative, but I've never seen a pension statement showing that much of a drop.
By all means DM me with a copy if the statement and I'll see if I can help.
Thanks for the replies! The bulk of it seems to be invested in the Sun Life of Canada managed 2 account A102A and that seems to show general growth but with some ups and downs. I’ll give them a call.
I was wondering though, if pension plans are generally tailored to the length of the payment period? I had an endowment mortgage over a 25 year period and it was always forecasted for a shortfall but in the last 3 years it came good, would a pension plan be like that or is it just luck?
You really need to take advice.
A pension (assuming its not invested in a with profits fund) will not alter greatly at the end. The shortfall you had on your endowment was probably made up at the end with a terminal bonus (if with profits) but without the full details no-one can comment.
Your pension statement might be forecasting on a low growth rate if the fund invests in a lot of bonds or cash. Then combined with future inflation it might come out as a negative, but I've never seen a pension statement showing that much of a drop.
By all means DM me with a copy if the statement and I'll see if I can help.
Thanks @golfaddick , contacted them and the customer service guy said it was an obvious mistake and they would send out a new statement. Doesn’t give me much confidence though! Interesting about the terminal bonus on the endowment and that makes sense. Thanks all for your help, this forum is great 👍
seriously considering putting everything into cash now i think we've come to the end of the rally. What say the hivemind?
I read that Michael Burry (he of the Big Short) has sold his entire portfolio apart from just 1 stock. He feels that a crash is just around the corner. He wasn't wrong in 2008/09 although he was a few months premature if the film is to be believed.
seriously considering putting everything into cash now i think we've come to the end of the rally. What say the hivemind?
I read that Michael Burry (he of the Big Short) has sold his entire portfolio apart from just 1 stock. He feels that a crash is just around the corner. He wasn't wrong in 2008/09 although he was a few months premature if the film is to be believed.
yeah not sure the markets will give us another chance to exit... maybe later this week. Don't mind being sidelined if we continue to rally tbh
Looking to buy a holiday home in Spain, Portugal or France as an investment. Does anyone here have any tips on good agents to use?
Sorry, no knowledge or tips on agents etc but interested in hearing why do you feel it's a good investment to buy property abroad ?
Have you already maxed out your Pension & your ISA's. Do you already live abroad or in one of those countries ? If not, what do you know about the tax on income & capital gains both in that country & in the UK (if you are a UK tax payer)
Looking to buy a holiday home in Spain, Portugal or France as an investment. Does anyone here have any tips on good agents to use?
Sorry, no knowledge or tips on agents etc but interested in hearing why do you feel it's a good investment to buy property abroad ?
Have you already maxed out your Pension & your ISA's. Do you already live abroad or in one of those countries ? If not, what do you know about the tax on income & capital gains both in that country & in the UK (if you are a UK tax payer)
In Spain if you spend 500k on a property you basically get the right to live and travel in Schengen. For some that in itself is worth it
Comments
Any advice where it can earn a bit of interest without risk
Ta.
https://www.unionpremierbond.unionbankofindiauk.co.uk/
Covered by the Financial Services Compensation Scheme.
Over the month it's been in there it's made 3.7%. He's loving seeing the money grow day by day but I've warned him that the gains (and more) could all be wiped out tomorrow.
As @PragueAddick said - June was about the lowest funds got to and now we are seeing a small recovery. No idea how long it will last & my usual pessimistic self came to the fore when selecting my FTSE level for 31st Dec - some 400 points lower than it is today. 😔
https://www.moneysavingexpert.com/savings/savings-accounts-best-interest/
I don’t think I’ve seen a normal bank offering 3% for as little as one year, maybe a Mid East/ sharia bank on Raisin but I am not putting any money there.
The trouble with H-L ‘s Active Savings, which they are always mailing me about, is that you’ll be paying them a fee. Which isn’t great when the returns are so low anyway.
I was wondering though, if pension plans are generally tailored to the length of the payment period? I had an endowment mortgage over a 25 year period and it was always forecasted for a shortfall but in the last 3 years it came good, would a pension plan be like that or is it just luck?
Will look into it.
A pension (assuming its not invested in a with profits fund) will not alter greatly at the end. The shortfall you had on your endowment was probably made up at the end with a terminal bonus (if with profits) but without the full details no-one can comment.
Your pension statement might be forecasting on a low growth rate if the fund invests in a lot of bonds or cash. Then combined with future inflation it might come out as a negative, but I've never seen a pension statement showing that much of a drop.
By all means DM me with a copy if the statement and I'll see if I can help.
Have you already maxed out your Pension & your ISA's. Do you already live abroad or in one of those countries ? If not, what do you know about the tax on income & capital gains both in that country & in the UK (if you are a UK tax payer)
June down just under £6k
July up just over £31k
August to date up just under £19k
So cumulatively up around £45k