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Savings and Investments thread
Comments
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golfaddick said:bobmunro said:PragueAddick said:First a little tip if you are planning to invest in one of NSI's new one year bonds at cracking rates.
Unlike bank accoutns with similar products, you have to have all your money you wish to invest, ready to pay in as you open it. You can either pay by debit card from your nominated account, or if you have an NSI Direct Saver you can move your money there. But if like me you are gathering up the money from various other accounts, you need to do that first before applying.
That's a bit clumsy; but the good news is you can open up to ten accounts of the same type, so longas , as the nice lady reminded me, I don't exceed the total of £1mil. I told her that as I only got £150 in the latest draw there is no chance of that
Got some juggling to do though - but I think it's worth it. Rather have a lot in NSI than some of these smaller banks.
I really don't think the compo limit should be that much if a concern to savers2 -
My view on the £85k is much like others, except that, why run the risk? Unless you have literally millions in cash, spreading around a handful is prudent, now NS&I are giving a decent rate it seems a no brainer to me.1
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RaplhMilne said:golfaddick said:bobmunro said:PragueAddick said:First a little tip if you are planning to invest in one of NSI's new one year bonds at cracking rates.
Unlike bank accoutns with similar products, you have to have all your money you wish to invest, ready to pay in as you open it. You can either pay by debit card from your nominated account, or if you have an NSI Direct Saver you can move your money there. But if like me you are gathering up the money from various other accounts, you need to do that first before applying.
That's a bit clumsy; but the good news is you can open up to ten accounts of the same type, so longas , as the nice lady reminded me, I don't exceed the total of £1mil. I told her that as I only got £150 in the latest draw there is no chance of that
Got some juggling to do though - but I think it's worth it. Rather have a lot in NSI than some of these smaller banks.
I really don't think the compo limit should be that much if a concern to savers
As for the Taxpayer paying for it. I was a Lloyds Staff member, I held shares and had options worth over £60,000. Shares were around £5. By the time Gordon Brown finished stitching Lloyds up they were 25p. My £60,000 was now £3,000. I think you will find the real people who paid were Lloyds Shareholders, not the tax payers.An when the Government finally got back the the money back it invested in Lloyds, it actually made a profit.
I never understood why Daniels did it (obviously government pressure) because I and everyone paying attention knew it was so catastrophic that it would very seriously damage Lloyds.1 -
Either my memory is shady or others are, when it all began to kick off I dumped all my bank shares other than a dabble in HBOS but that's a story for another day, i'm sure at the time Lloyds were about £3 at best (although yes they did have a massive drop from where they've never really recovered)?0
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Rob7Lee said:Either my memory is shady or others are, when it all began to kick off I dumped all my bank shares other than a dabble in HBOS but that's a story for another day, i'm sure at the time Lloyds were about £3 at best (although yes they did have a massive drop from where they've never really recovered)?1
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With this new NS&I bond, is there a limit you can put into it? Can’t seem to find a link to it.0
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cafctom said:With this new NS&I bond, is there a limit you can put into it? Can’t seem to find a link to it.2
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Yes £1m per bond/person. Minimum of £500.2
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bobmunro said:golfaddick said:bobmunro said:PragueAddick said:First a little tip if you are planning to invest in one of NSI's new one year bonds at cracking rates.
Unlike bank accoutns with similar products, you have to have all your money you wish to invest, ready to pay in as you open it. You can either pay by debit card from your nominated account, or if you have an NSI Direct Saver you can move your money there. But if like me you are gathering up the money from various other accounts, you need to do that first before applying.
That's a bit clumsy; but the good news is you can open up to ten accounts of the same type, so longas , as the nice lady reminded me, I don't exceed the total of £1mil. I told her that as I only got £150 in the latest draw there is no chance of that
Got some juggling to do though - but I think it's worth it. Rather have a lot in NSI than some of these smaller banks.
I really don't think the compo limit should be that much if a concern to savers
At my age I am very keen to eliminate any unnecessary risk, especially as I'm now heavily geared towards cash, and 6.2% gross with pretty much zero risk is very attractive.
But as @prague says - I wouldn't be investing into any "offshore" institution, especially anything outside of the EU.
Unfortunately I've had to pull out all my savings, inc my £50k in PB's as I'm just about to exchange & complete on a property.3 -
RaplhMilne said:golfaddick said:bobmunro said:PragueAddick said:First a little tip if you are planning to invest in one of NSI's new one year bonds at cracking rates.
Unlike bank accoutns with similar products, you have to have all your money you wish to invest, ready to pay in as you open it. You can either pay by debit card from your nominated account, or if you have an NSI Direct Saver you can move your money there. But if like me you are gathering up the money from various other accounts, you need to do that first before applying.
That's a bit clumsy; but the good news is you can open up to ten accounts of the same type, so longas , as the nice lady reminded me, I don't exceed the total of £1mil. I told her that as I only got £150 in the latest draw there is no chance of that
Got some juggling to do though - but I think it's worth it. Rather have a lot in NSI than some of these smaller banks.
I really don't think the compo limit should be that much if a concern to savers
As for the Taxpayer paying for it. I was a Lloyds Staff member, I held shares and had options worth over £60,000. Shares were around £5. By the time Gordon Brown finished stitching Lloyds up they were 25p. My £60,000 was now £3,000. I think you will find the real people who paid were Lloyds Shareholders, not the tax payers.An when the Government finally got back the the money back it invested in Lloyds, it actually made a profit.0 - Sponsored links:
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golfaddick said:bobmunro said:golfaddick said:bobmunro said:PragueAddick said:First a little tip if you are planning to invest in one of NSI's new one year bonds at cracking rates.
Unlike bank accoutns with similar products, you have to have all your money you wish to invest, ready to pay in as you open it. You can either pay by debit card from your nominated account, or if you have an NSI Direct Saver you can move your money there. But if like me you are gathering up the money from various other accounts, you need to do that first before applying.
That's a bit clumsy; but the good news is you can open up to ten accounts of the same type, so longas , as the nice lady reminded me, I don't exceed the total of £1mil. I told her that as I only got £150 in the latest draw there is no chance of that
Got some juggling to do though - but I think it's worth it. Rather have a lot in NSI than some of these smaller banks.
I really don't think the compo limit should be that much if a concern to savers
At my age I am very keen to eliminate any unnecessary risk, especially as I'm now heavily geared towards cash, and 6.2% gross with pretty much zero risk is very attractive.
But as @prague says - I wouldn't be investing into any "offshore" institution, especially anything outside of the EU.
Unfortunately I've had to pull out all my savings, inc my £50k in PB's as I'm just about to exchange & complete on a property.1 -
Serious question for you guys who know your onions. Is there any point in investing in the stock market at the moment?
Historically, the stock market has been the place to grow your savings. But is that still true today, particularly given the way the market moves these days?
It's not that many years ago, that a fall of 100 points was the lead item on the News at 10. Nowadays, that sort of fall barely raises a mention as it is no longer a rarity. And it seems to me that the market now looks for any excuse to have a sell-off and so often gains that have been built up over months disappear in a day when a sell-off occurs.
And throw in that the FTSE has hardly moved in 5 years (I know you need a good spread of funds) then I'm seriously wondering that now I can earn over 6% totally risk free with NSI (with fixed rate Cash ISAs not far behind with no tax to pay) why bother with investing in the stock market, particularly given the way that things are at the moment and the possibility that a huge sell off could well be on the way.
So are these fixed rate investments now the best way to grow your savings?
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Fortune 82nd Minute said:Serious question for you guys who know your onions. Is there any point in investing in the stock market at the moment?
Historically, the stock market has been the place to grow your savings. But is that still true today, particularly given the way the market moves these days?
It's not that many years ago, that a fall of 100 points was the lead item on the News at 10. Nowadays, that sort of fall barely raises a mention as it is no longer a rarity. And it seems to me that the market now looks for any excuse to have a sell-off and so often gains that have been built up over months disappear in a day when a sell-off occurs.
And throw in that the FTSE has hardly moved in 5 years (I know you need a good spread of funds) then I'm seriously wondering that now I can earn over 6% totally risk free with NSI (with fixed rate Cash ISAs not far behind with no tax to pay) why bother with investing in the stock market, particularly given the way that things are at the moment and the possibility that a huge sell off could well be on the way.
So are these fixed rate investments now the best way to grow your savings?1 -
Fortune 82nd Minute said:Serious question for you guys who know your onions. Is there any point in investing in the stock market at the moment?
Historically, the stock market has been the place to grow your savings. But is that still true today, particularly given the way the market moves these days?
It's not that many years ago, that a fall of 100 points was the lead item on the News at 10. Nowadays, that sort of fall barely raises a mention as it is no longer a rarity. And it seems to me that the market now looks for any excuse to have a sell-off and so often gains that have been built up over months disappear in a day when a sell-off occurs.
And throw in that the FTSE has hardly moved in 5 years (I know you need a good spread of funds) then I'm seriously wondering that now I can earn over 6% totally risk free with NSI (with fixed rate Cash ISAs not far behind with no tax to pay) why bother with investing in the stock market, particularly given the way that things are at the moment and the possibility that a huge sell off could well be on the way.
So are these fixed rate investments now the best way to grow your savings?
However, its almost impossible to time the market and in 6 months time you could find the FTSE is back near its all time high of 8000 and you would have missed out on a 6% rise.
If you can invest in tax efficient products such as ISA's & Pensions then the tax savings/tax relief may well out perform your (taxed) cash deposits.
As they say.......everything on moderation.0 -
Fortune 82nd Minute said:Serious question for you guys who know your onions. Is there any point in investing in the stock market at the moment?
Historically, the stock market has been the place to grow your savings. But is that still true today, particularly given the way the market moves these days?
It's not that many years ago, that a fall of 100 points was the lead item on the News at 10. Nowadays, that sort of fall barely raises a mention as it is no longer a rarity. And it seems to me that the market now looks for any excuse to have a sell-off and so often gains that have been built up over months disappear in a day when a sell-off occurs.
And throw in that the FTSE has hardly moved in 5 years (I know you need a good spread of funds) then I'm seriously wondering that now I can earn over 6% totally risk free with NSI (with fixed rate Cash ISAs not far behind with no tax to pay) why bother with investing in the stock market, particularly given the way that things are at the moment and the possibility that a huge sell off could well be on the way.
So are these fixed rate investments now the best way to grow your savings?
BUT, unless you can do the above for that length of time as a minimum and not need to access said funds I'd stick to cash.
The FTSE may not have moved much in 5 years, but others have, plus investing monthly at the various price points, I'm averaging about 9% a year over that period.
PS like I keep mentioning to @PragueAddick don't forget the dividends!1 -
As an example Fund, Vanguards S&P500 has performed as follows:
30 Jun 2018
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30 Jun 2019+11.15%
30 Jun 2019
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30 Jun 2020+7.71%
30 Jun 2020
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30 Jun 2021+24.98%
30 Jun 2021
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30 Jun 2022+0.15%
30 Jun 2022
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30 Jun 2023+12.09%
On the 4th September 2018 the fund price was £42.94, it's now 5 years later £67.99.
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By advising to hold cash, I presume you mean to save the cash in either an isa or decent bond if your limit has been reached.0
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guinnessaddick said:RaplhMilne said:Can you cash in, and transfer to the new one year bond all online. Or does the cashed in funds have to come back to your account first.0
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superclive98 said:Fortune 82nd Minute said:Serious question for you guys who know your onions. Is there any point in investing in the stock market at the moment?
Historically, the stock market has been the place to grow your savings. But is that still true today, particularly given the way the market moves these days?
It's not that many years ago, that a fall of 100 points was the lead item on the News at 10. Nowadays, that sort of fall barely raises a mention as it is no longer a rarity. And it seems to me that the market now looks for any excuse to have a sell-off and so often gains that have been built up over months disappear in a day when a sell-off occurs.
And throw in that the FTSE has hardly moved in 5 years (I know you need a good spread of funds) then I'm seriously wondering that now I can earn over 6% totally risk free with NSI (with fixed rate Cash ISAs not far behind with no tax to pay) why bother with investing in the stock market, particularly given the way that things are at the moment and the possibility that a huge sell off could well be on the way.
So are these fixed rate investments now the best way to grow your savings?
.that’s probably more telling about where we were 5 years ago when we were in that hangover period of the Brexit vote and realising nobody had thought about the consequences and the ‘instant’ promised benefits like £350 million for the NHS etc and trade deals with the rest of the world were BS. Still, given what’s happening today we must have stopped the rot to have not crashed1 -
Rob7Lee said:Fortune 82nd Minute said:Serious question for you guys who know your onions. Is there any point in investing in the stock market at the moment?
Historically, the stock market has been the place to grow your savings. But is that still true today, particularly given the way the market moves these days?
It's not that many years ago, that a fall of 100 points was the lead item on the News at 10. Nowadays, that sort of fall barely raises a mention as it is no longer a rarity. And it seems to me that the market now looks for any excuse to have a sell-off and so often gains that have been built up over months disappear in a day when a sell-off occurs.
And throw in that the FTSE has hardly moved in 5 years (I know you need a good spread of funds) then I'm seriously wondering that now I can earn over 6% totally risk free with NSI (with fixed rate Cash ISAs not far behind with no tax to pay) why bother with investing in the stock market, particularly given the way that things are at the moment and the possibility that a huge sell off could well be on the way.
So are these fixed rate investments now the best way to grow your savings?
BUT, unless you can do the above for that length of time as a minimum and not need to access said funds I'd stick to cash.
The FTSE may not have moved much in 5 years, but others have, plus investing monthly at the various price points, I'm averaging about 9% a year over that period.
PS like I keep mentioning to @PragueAddick don't forget the dividends!4 - Sponsored links:
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I'd also be inclined to look at slightly longer fixed rates as after 12 months the 6.2% will drop away. You can get around 6% on a two year and about 5.75% for five years currently. All depends on your circumstances of course, but I've got some small amounts tied up for those periods and it's nice to know there's a bit of interest accruing for the foreseeable. Consider the timing of interest payments too - if it's all at maturity it may attract more tax than if paid monthly or annually.
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https://www.bbc.co.uk/news/business-66714128
I believe a certain someone mentioning this company a few times, well done @PragueAddick
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This is your reminder to start buying bitcoin now and you can thank me in 2 years time when you sell.4
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kentaddick said:This is your reminder to start buying bitcoin now and you can thank me in 2 years time when you sell.1
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LonelyNorthernAddick said:https://www.bbc.co.uk/news/business-66714128
I believe a certain someone mentioning this company a few times, well done @PragueAddick
Just my lucky day, really.
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Santander are offering 5.2% on an Easy Access Instant Saver. Can deposit/withdraw funds whenever you want, no penalties.3
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Got 5k to invest for my 4 year old. Which type of isa would people recommend, cash or stocks and shares ?0
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shine166 said:Got 5k to invest for my 4 year old. Which type of isa would people recommend, cash or stocks and shares ?2
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LonelyNorthernAddick said:kentaddick said:This is your reminder to start buying bitcoin now and you can thank me in 2 years time when you sell.0
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If we are throwing out recommendations then how's this for starters......
8%pa guaranteed over 5 years. Fully capital protected (up to the £85k FSCS compo limit @bobmunro). Could mature after 3 or 4 years should certain conditions apply. Would only get your initial capital back (no 40% "interest") should the S&P500 fall by more than 20% during that time.
Obviously this is not a promotion or a recommendation to buy under FCA regs.
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