£100 for me which will do nicely as I am already having a rare good year where the return is a little above the expected % rate.
It is however now time for the regulatory bodies to investigate @Rob7Lee ‘s father-in-law 😂
His £50k seems to regularly out strip our circa £130k, go figure. Must admit it is getting to the point now where I may cash in, my eldest has cashed almost all of hers in as return much better in Savings. But the tax free element remains nice especially as my wife's out of headroom really to avoid any more tax.
Out of interest have you ever calculated his %return on a year of holding?
£100 for me which will do nicely as I am already having a rare good year where the return is a little above the expected % rate.
It is however now time for the regulatory bodies to investigate @Rob7Lee ‘s father-in-law 😂
His £50k seems to regularly out strip our circa £130k, go figure. Must admit it is getting to the point now where I may cash in, my eldest has cashed almost all of hers in as return much better in Savings. But the tax free element remains nice especially as my wife's out of headroom really to avoid any more tax.
Out of interest have you ever calculated his %return on a year of holding?
Just had a quick total up, he had a lot of £50's so despite a regular winner not many larger one's. Last 12 months 2.75%. I suspect the year before was more as had some bigger wins.
My wife last 6 draws alone were £1,075 so she may well beat his % return.
Just received an email from Chase, they've increased the variable saver rate once again to 4.1%. Personally found them to be the best banking service I have dealt with (although I'm quite young and naive).
Just received an email from Chase, they've increased the variable saver rate once again to 4.1%. Personally found them to be the best banking service I have dealt with (although I'm quite young and naive).
Well I'm old and financially pretty aware...and I'd agree they are both fast to respond to rate changes and using their app they respond to queries, usually, within minutes. Getting their rewards for daily spending has actually changed the way I spend and the roundups - to encourage saving - works really well.
Just received an email from Chase, they've increased the variable saver rate once again to 4.1%. Personally found them to be the best banking service I have dealt with (although I'm quite young and naive).
Yes - I have money with Chase and also Marcus who have raised theirs today to 4.3%
Investec have some of my funds also and raised their rate yesterday - instant access now 4.47%
Just received an email from Chase, they've increased the variable saver rate once again to 4.1%. Personally found them to be the best banking service I have dealt with (although I'm quite young and naive).
Yes - I have money with Chase and also Marcus who have raised theirs today to 4.3%
Investec have some of my funds also and raised their rate yesterday - instant access now 4.47%
I have money in those three too, and the rest, so I try to review my sprawling portfolio of cash generating stuff each month. I noticed that Investec are now offering a 1 year fix at 6%. Actually I have a 1 year with them and with Charter Savings, which mature during October, at 4% plus which now seemsa bit tame! I think there's a good chance that they will still be offering 6% in October too, but sometimes these things "sell out".
So this forces me to look at my portfolio of equity growth funds. How confident am I that those funds will be up at least 6.45% this time next year (the 0.45% is the H-L platform nibble)? . If I am not confident- and I am not - then I think there's a case -given my age -for a bit more de-risking of my portfolio, i.e if in the next 4 weeks the markets bounce up a bit, sell off some fund holdings and put them into cash at these high rates.
Just received an email from Chase, they've increased the variable saver rate once again to 4.1%. Personally found them to be the best banking service I have dealt with (although I'm quite young and naive).
Yes - I have money with Chase and also Marcus who have raised theirs today to 4.3%
Investec have some of my funds also and raised their rate yesterday - instant access now 4.47%
I have money in those three too, and the rest, so I try to review my sprawling portfolio of cash generating stuff each month. I noticed that Investec are now offering a 1 year fix at 6%. Actually I have a 1 year with them and with Charter Savings, which mature during October, at 4% plus which now seemsa bit tame! I think there's a good chance that they will still be offering 6% in October too, but sometimes these things "sell out".
So this forces me to look at my portfolio of equity growth funds. How confident am I that those funds will be up at least 6.45% this time next year (the 0.45% is the H-L platform nibble)? . If I am not confident- and I am not - then I think there's a case -given my age -for a bit more de-risking of my portfolio, i.e if in the next 4 weeks the markets bounce up a bit, sell off some fund holdings and put them into cash at these high rates.
I definitely won't challenge you on that. I think we may be of a similar age, Richard, and I am very top heavy in cash (have been for a couple of years) - and at 6% returns guaranteed it's a sensible option to take when one reaches a certain age! My days of financial risk taking are gone.
the missus still has about 30k she can take from her SIPP as tax free cash. Don't actually need the money until early 2026 upon which we will need to take as part of our yearly income but the question is do we leave it where it is where her SIPP is up about 2% on the year (low risk as risk adverse) or take now and invest elsewhere at 6% plus?
the missus still has about 30k she can take from her SIPP as tax free cash. Don't actually need the money until early 2026 upon which we will need to take as part of our yearly income but the question is do we leave it where it is where her SIPP is up about 2% on the year (low risk as risk adverse) or take now and invest elsewhere at 6% plus?
There's no way of knowing for certain, but if she's happy with 6% then you've got your answer.
the missus still has about 30k she can take from her SIPP as tax free cash. Don't actually need the money until early 2026 upon which we will need to take as part of our yearly income but the question is do we leave it where it is where her SIPP is up about 2% on the year (low risk as risk adverse) or take now and invest elsewhere at 6% plus?
I would agree with CE - if you definitely don't need it until early 2026 then maybe take a two year fix at or slightly above 6%.
the missus still has about 30k she can take from her SIPP as tax free cash. Don't actually need the money until early 2026 upon which we will need to take as part of our yearly income but the question is do we leave it where it is where her SIPP is up about 2% on the year (low risk as risk adverse) or take now and invest elsewhere at 6% plus?
Bear in mind the tax implications though - £30k at 6% will generate £1800 so assuming she's a basic rate tax payer she'd be subject to tax on £800 of that (£1300 if she pays higher rate tax). She could put it in a cash ISA but I haven't seen one that gets close to 6%. All depends what else she has going on, of course.
the missus still has about 30k she can take from her SIPP as tax free cash. Don't actually need the money until early 2026 upon which we will need to take as part of our yearly income but the question is do we leave it where it is where her SIPP is up about 2% on the year (low risk as risk adverse) or take now and invest elsewhere at 6% plus?
If you were my clients asking this I would probably have a hard time getting this through compliance.
The usual wisdom is to only take money out of your pension if you really need it. Taking it out if a tax free environment (for that is what your 25% allowance is in reality) to put it into a taxable "product" doesn't seem to make much sense. Yes we can argue all day long that interest rates are currently high & 6% would have beaten most equity returns last year, but we dont know what the future holds and her SIPP could make 10% this year. Where does an adviser stand in that scenario ?
Also, as has been mentored on here a few times recently, the more risk adverse you are currently the worse returns you will be getting. Bonds are starting to give some gains now that inflation is starting to fall but if interest rates stay between 5% - 6% until 2025 as predicted then Bonds are still not going to be that attractive and so your risk adverse portfolios could carry on losing money.
Just received an email from Chase, they've increased the variable saver rate once again to 4.1%. Personally found them to be the best banking service I have dealt with (although I'm quite young and naive).
Yes - I have money with Chase and also Marcus who have raised theirs today to 4.3%
Investec have some of my funds also and raised their rate yesterday - instant access now 4.47%
I have money in those three too, and the rest, so I try to review my sprawling portfolio of cash generating stuff each month. I noticed that Investec are now offering a 1 year fix at 6%. Actually I have a 1 year with them and with Charter Savings, which mature during October, at 4% plus which now seemsa bit tame! I think there's a good chance that they will still be offering 6% in October too, but sometimes these things "sell out".
So this forces me to look at my portfolio of equity growth funds. How confident am I that those funds will be up at least 6.45% this time next year (the 0.45% is the H-L platform nibble)? . If I am not confident- and I am not - then I think there's a case -given my age -for a bit more de-risking of my portfolio, i.e if in the next 4 weeks the markets bounce up a bit, sell off some fund holdings and put them into cash at these high rates.
Whilst it may not change your decision, don't forget dividends as well as capital growth your funds may achieve. My Vanguards FTSE100 ETF has grown by 8.14% but has also provided around 3.1% in dividends.
Is HL still right for you at those sort of charges, seems pricey?
Just received an email from Chase, they've increased the variable saver rate once again to 4.1%. Personally found them to be the best banking service I have dealt with (although I'm quite young and naive).
Yes - I have money with Chase and also Marcus who have raised theirs today to 4.3%
Investec have some of my funds also and raised their rate yesterday - instant access now 4.47%
I have money in those three too, and the rest, so I try to review my sprawling portfolio of cash generating stuff each month. I noticed that Investec are now offering a 1 year fix at 6%. Actually I have a 1 year with them and with Charter Savings, which mature during October, at 4% plus which now seemsa bit tame! I think there's a good chance that they will still be offering 6% in October too, but sometimes these things "sell out".
So this forces me to look at my portfolio of equity growth funds. How confident am I that those funds will be up at least 6.45% this time next year (the 0.45% is the H-L platform nibble)? . If I am not confident- and I am not - then I think there's a case -given my age -for a bit more de-risking of my portfolio, i.e if in the next 4 weeks the markets bounce up a bit, sell off some fund holdings and put them into cash at these high rates.
Whilst it may not change your decision, don't forget dividends as well as capital growth your funds may achieve. My Vanguards FTSE100 ETF has grown by 8.14% but has also provided around 3.1% in dividends.
Is HL still right for you at those sort of charges, seems pricey?
Yes, forgetting to consider dividends is something I have been regularly guilty of. That said with Golfie’s help I’ve been re-building the fund portfolio to emphasis income rather than growth, and it’s growth funds I’d look to trim back and transfer to cash accounts.
You (and @IdleHans) are right to question whether H-L are value for money. If I cut back some funds and put the money on deposit H-L don’t get a nibble of that ( they try hard with their Active Savings offer which is like Raisin but inside the platform). But when it comes to switching the lot, I’m still scarred by the time when I moved the SIPP from an IFA to self-management at H-L, it took over 4 weeks and during that time there was a little referendum held, which had some small effect on markets..
H&L has a slick interface, they just refuse to give it some features which I’d consider essential. But it is very good e.g. for buying and selling equities with limit orders. I planned for a while to boost my holding of L&G - for the chunky dividend - and last week I was able to scoop them up for 225p on the day when it only fell to that level for an hour or so, while I was doing something else like ranting about Welling no-mark defenders on here . Very nicely done, and much better than on Degiro, a platform I use for European (euro) holdings. It’s cheaper than H-L but often baffling.
Interesting comments on HL, Prague. I too like their website but their charges are toppy. I have my sipp and four years worth of stock ISAs with them but have now opened an ISA account (though not yet paid any funds in) with trading 212 whose charges are waaaay lower. It doesn't feel so user-friendly but that might just be because I'm not familiar with it yet. If it works well I might migrate to them fully but will bear Prague's comments in mind. I use raisin for cash deposits but find the fact that it takes two or three days to get easy access funds back out rather irritating. HLs active savings works efficiently, but rates are generally a bit lower than is available elsewhere. I now find myself with a plethora of accounts both alive and dead from moving money around to try and squeeze another few pips of interest. My starting point for finding good deposit rates is usually moneysavingexpert, who just list what's available in the market and link to providers.
Just received an email from Chase, they've increased the variable saver rate once again to 4.1%. Personally found them to be the best banking service I have dealt with (although I'm quite young and naive).
Yes - I have money with Chase and also Marcus who have raised theirs today to 4.3%
Investec have some of my funds also and raised their rate yesterday - instant access now 4.47%
I have money in those three too, and the rest, so I try to review my sprawling portfolio of cash generating stuff each month. I noticed that Investec are now offering a 1 year fix at 6%. Actually I have a 1 year with them and with Charter Savings, which mature during October, at 4% plus which now seemsa bit tame! I think there's a good chance that they will still be offering 6% in October too, but sometimes these things "sell out".
So this forces me to look at my portfolio of equity growth funds. How confident am I that those funds will be up at least 6.45% this time next year (the 0.45% is the H-L platform nibble)? . If I am not confident- and I am not - then I think there's a case -given my age -for a bit more de-risking of my portfolio, i.e if in the next 4 weeks the markets bounce up a bit, sell off some fund holdings and put them into cash at these high rates.
Whilst it may not change your decision, don't forget dividends as well as capital growth your funds may achieve. My Vanguards FTSE100 ETF has grown by 8.14% but has also provided around 3.1% in dividends.
Is HL still right for you at those sort of charges, seems pricey?
Yes, forgetting to consider dividends is something I have been regularly guilty of. That said with Golfie’s help I’ve been re-building the fund portfolio to emphasis income rather than growth, and it’s growth funds I’d look to trim back and transfer to cash accounts.
You (and @IdleHans) are right to question whether H-L are value for money. If I cut back some funds and put the money on deposit H-L don’t get a nibble of that ( they try hard with their Active Savings offer which is like Raisin but inside the platform). But when it comes to switching the lot, I’m still scarred by the time when I moved the SIPP from an IFA to self-management at H-L, it took over 4 weeks and during that time there was a little referendum held, which had some small effect on markets..
H&L has a slick interface, they just refuse to give it some features which I’d consider essential. But it is very good e.g. for buying and selling equities with limit orders. I planned for a while to boost my holding of L&G - for the chunky dividend - and last week I was able to scoop them up for 225p on the day when it only fell to that level for an hour or so, while I was doing something else like ranting about Welling no-mark defenders on here . Very nicely done, and much better than on Degiro, a platform I use for European (euro) holdings. It’s cheaper than H-L but often baffling.
I'm not sure of the rules if you deal direct but offshore investors going through a UK advisor can only be dealt with when they are on UK soil. This also extends to any reviews your advisor may carry out with you. It's a right pain in the arse.......
Just received an email from Chase, they've increased the variable saver rate once again to 4.1%. Personally found them to be the best banking service I have dealt with (although I'm quite young and naive).
Yes - I have money with Chase and also Marcus who have raised theirs today to 4.3%
Investec have some of my funds also and raised their rate yesterday - instant access now 4.47%
I have money in those three too, and the rest, so I try to review my sprawling portfolio of cash generating stuff each month. I noticed that Investec are now offering a 1 year fix at 6%. Actually I have a 1 year with them and with Charter Savings, which mature during October, at 4% plus which now seemsa bit tame! I think there's a good chance that they will still be offering 6% in October too, but sometimes these things "sell out".
So this forces me to look at my portfolio of equity growth funds. How confident am I that those funds will be up at least 6.45% this time next year (the 0.45% is the H-L platform nibble)? . If I am not confident- and I am not - then I think there's a case -given my age -for a bit more de-risking of my portfolio, i.e if in the next 4 weeks the markets bounce up a bit, sell off some fund holdings and put them into cash at these high rates.
Whilst it may not change your decision, don't forget dividends as well as capital growth your funds may achieve. My Vanguards FTSE100 ETF has grown by 8.14% but has also provided around 3.1% in dividends.
Is HL still right for you at those sort of charges, seems pricey?
Got portfolio with HL. What other platforms are out there which are cheaper but just as simple to use?
Just received an email from Chase, they've increased the variable saver rate once again to 4.1%. Personally found them to be the best banking service I have dealt with (although I'm quite young and naive).
Yes - I have money with Chase and also Marcus who have raised theirs today to 4.3%
Investec have some of my funds also and raised their rate yesterday - instant access now 4.47%
I have money in those three too, and the rest, so I try to review my sprawling portfolio of cash generating stuff each month. I noticed that Investec are now offering a 1 year fix at 6%. Actually I have a 1 year with them and with Charter Savings, which mature during October, at 4% plus which now seemsa bit tame! I think there's a good chance that they will still be offering 6% in October too, but sometimes these things "sell out".
So this forces me to look at my portfolio of equity growth funds. How confident am I that those funds will be up at least 6.45% this time next year (the 0.45% is the H-L platform nibble)? . If I am not confident- and I am not - then I think there's a case -given my age -for a bit more de-risking of my portfolio, i.e if in the next 4 weeks the markets bounce up a bit, sell off some fund holdings and put them into cash at these high rates.
Whilst it may not change your decision, don't forget dividends as well as capital growth your funds may achieve. My Vanguards FTSE100 ETF has grown by 8.14% but has also provided around 3.1% in dividends.
Is HL still right for you at those sort of charges, seems pricey?
Got portfolio with HL. What other platforms are out there which are cheaper but just as simple to use?
The one run by Quilter is pretty good at the top end. First £50k - 0.3%, next £200k - 0.2%, £250k+ - 0.1%.
But that's is for Quilter advisers & special deal for moving money onto the platform from another one.
About 3 years ago I had my SIPP with Fidelity and most of my ISA's. Had their discounted fee's due to the amount held, but even still it wasn't cheap (0.25%).
I first switched most of the funds to interactive investor, very cheap, but for a reason.
So in the end what I did was moved the vast majority of my SIPP and ISA's to Vanguard, yes it's restricted to their funds only which as I'm slowly derisking I'm fine with. What I did do was keep an amount with Fidelity, that's sort of my play money where I'll buy and sell quite regularly.
It's always worth reviewing fee's and importantly what you get for them. My set fee's with vanguard are £375, that's over £2.5k cheaper than Fidelity for the same funds. Fidelity was and is a great, just a shame the fee's are high.
You’ve all read about Wegovy, right? Guess which lucky punter has been holding Novo Nordisk shares for the last year and a half? Just about covering the losses on a raft of shares that have been toilet, such as Jupiter, Primary Health Properties and Direct Line. OK I bought those for income rather than capital appreciation but of course Direct Line decided to stop paying dividends. So I was due some luck. Actually, I did buy Novo Nordisk based on what I learnt doing some recruitment with them so it’s not entirely luck. But I never expected 85:% in 18 months.
I remember you tipping these and added them to my watch list at the time. More fool me, that was as far as I got! But well done, it's a good feeling when you pick a winner on the basis of your own knowledge of a company. Caffe Nero was mine - in at 24p, out at about £2.47 when it was taken private.
You’ve all read about Wegovy, right? Guess which lucky punter has been holding Novo Nordisk shares for the last year and a half? Just about covering the losses on a raft of shares that have been toilet, such as Jupiter, Primary Health Properties and Direct Line. OK I bought those for income rather than capital appreciation but of course Direct Line decided to stop paying dividends. So I was due some luck. Actually, I did buy Novo Nordisk based on what I learnt doing some recruitment with them so it’s not entirely luck. But I never expected 85:% in 18 months.
So on our last p&o cruise I got talking to a fella. He told me if you buy 100 carnival shares the main benefit is on board credit. Carnival own a few cruise lines. A 14 night p & o cruise you can get £150 on board credit. Bought 100 shares in May £7.75 each. Of course main reason is on board credit so the price of the shares are now £12.50.
Comments
My wife last 6 draws alone were £1,075 so she may well beat his % return.
Investec have some of my funds also and raised their rate yesterday - instant access now 4.47%
You have average luck! Only 85.6% of people who have put £50,000 in premium bonds over 1 year win more than £1175, meaning you're about spot on.
The winnings have either gone into my share ISA or my pension.
So this forces me to look at my portfolio of equity growth funds. How confident am I that those funds will be up at least 6.45% this time next year (the 0.45% is the H-L platform nibble)? . If I am not confident- and I am not - then I think there's a case -given my age -for a bit more de-risking of my portfolio, i.e if in the next 4 weeks the markets bounce up a bit, sell off some fund holdings and put them into cash at these high rates.
"Someone challenge me on that? " ©Charlie Methven
And HLs .45% is more of a chomp than a nibble.
The usual wisdom is to only take money out of your pension if you really need it. Taking it out if a tax free environment (for that is what your 25% allowance is in reality) to put it into a taxable "product" doesn't seem to make much sense. Yes we can argue all day long that interest rates are currently high & 6% would have beaten most equity returns last year, but we dont know what the future holds and her SIPP could make 10% this year. Where does an adviser stand in that scenario ?
Also, as has been mentored on here a few times recently, the more risk adverse you are currently the worse returns you will be getting. Bonds are starting to give some gains now that inflation is starting to fall but if interest rates stay between 5% - 6% until 2025 as predicted then Bonds are still not going to be that attractive and so your risk adverse portfolios could carry on losing money.
Is HL still right for you at those sort of charges, seems pricey?
You (and @IdleHans) are right to question whether H-L are value for money. If I cut back some funds and put the money on deposit H-L don’t get a nibble of that ( they try hard with their Active Savings offer which is like Raisin but inside the platform). But when it comes to switching the lot, I’m still scarred by the time when I moved the SIPP from an IFA to self-management at H-L, it took over 4 weeks and during that time there was a little referendum held, which had some small effect on markets..
H&L has a slick interface, they just refuse to give it some features which I’d consider essential. But it is very good e.g. for buying and selling equities with limit orders. I planned for a while to boost my holding of L&G - for the chunky dividend - and last week I was able to scoop them up for 225p on the day when it only fell to that level for an hour or so, while I was doing something else like ranting about Welling no-mark defenders on here
I use raisin for cash deposits but find the fact that it takes two or three days to get easy access funds back out rather irritating. HLs active savings works efficiently, but rates are generally a bit lower than is available elsewhere. I now find myself with a plethora of accounts both alive and dead from moving money around to try and squeeze another few pips of interest. My starting point for finding good deposit rates is usually moneysavingexpert, who just list what's available in the market and link to providers.
But that's is for Quilter advisers & special deal for moving money onto the platform from another one.
I first switched most of the funds to interactive investor, very cheap, but for a reason.
So in the end what I did was moved the vast majority of my SIPP and ISA's to Vanguard, yes it's restricted to their funds only which as I'm slowly derisking I'm fine with. What I did do was keep an amount with Fidelity, that's sort of my play money where I'll buy and sell quite regularly.
It's always worth reviewing fee's and importantly what you get for them. My set fee's with vanguard are £375, that's over £2.5k cheaper than Fidelity for the same funds. Fidelity was and is a great, just a shame the fee's are high.
He told me if you buy 100 carnival shares the main benefit is on board credit.
Carnival own a few cruise lines.
A 14 night p & o cruise you can get £150 on board credit.
Bought 100 shares in May £7.75 each.
Of course main reason is on board credit so the price of the shares are now £12.50.
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