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Savings and Investments thread

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  • edited October 2023
    Rob7Lee said:
    out at 57p, for once it was good for the train to be delayed 😂

    watch it fly higher now, but I’ll take nearly £5.5k profit in a few days thanks.
    Better than a second job!!!   :)
  • Rob7Lee said:
    out at 57p, for once it was good for the train to be delayed 😂

    watch it fly higher now, but I’ll take nearly £5.5k profit in a few days thanks.
    Better than a second job!!!   :)
    That made me chuckle!! 😂

    My main SIPP seems to be making more than my main job currently, role on retirement!!
  • Nice punt. Just so posters don't 'chase' an impressive gain like that without context, you must have placed an order of approx £25k on Metro Bank when their shares tumbled?
  • edited October 2023
    mendonca said:
    Nice punt. Just so posters don't 'chase' an impressive gain like that without context, you must have placed an order of approx £25k on Metro Bank when their shares tumbled?
    No, just shy of 5 figures. £25k would have returned about 13k.

    but yes it was a pure punt with money I was prepared to lose.
  • My punt on Metro was only for about £1k...so I'm planning on sitting on them for a while...
  • Rob7Lee said:
    mendonca said:
    Nice punt. Just so posters don't 'chase' an impressive gain like that without context, you must have placed an order of approx £25k on Metro Bank when their shares tumbled?
    No, just shy of 5 figures. £25k would have returned about 13k.

    but yes it was a pure punt with money I was prepared to lose.
    Not bad for a bit of silent weekend working! Nice work mate 👍🏽
  • Rob7Lee said:
    mendonca said:
    Nice punt. Just so posters don't 'chase' an impressive gain like that without context, you must have placed an order of approx £25k on Metro Bank when their shares tumbled?
    No, just shy of 5 figures. £25k would have returned about 13k.

    but yes it was a pure punt with money I was prepared to lose.
    I wasn’t quite as brave. Up just over 42% at the moment on a £2,500 punt. 

    Have a review with my pension advisor tomorrow. She has a lot of explaining to do about her own performance in the 2 years they’ve had my funds 😉
  • TelMc32 said:
    Rob7Lee said:
    mendonca said:
    Nice punt. Just so posters don't 'chase' an impressive gain like that without context, you must have placed an order of approx £25k on Metro Bank when their shares tumbled?
    No, just shy of 5 figures. £25k would have returned about 13k.

    but yes it was a pure punt with money I was prepared to lose.
    I wasn’t quite as brave. Up just over 42% at the moment on a £2,500 punt. 

    Have a review with my pension advisor tomorrow. She has a lot of explaining to do about her own performance in the 2 years they’ve had my funds 😉
    Profits profit!

    whose your pension with?
  • Rob7Lee said:
    TelMc32 said:
    Rob7Lee said:
    mendonca said:
    Nice punt. Just so posters don't 'chase' an impressive gain like that without context, you must have placed an order of approx £25k on Metro Bank when their shares tumbled?
    No, just shy of 5 figures. £25k would have returned about 13k.

    but yes it was a pure punt with money I was prepared to lose.
    I wasn’t quite as brave. Up just over 42% at the moment on a £2,500 punt. 

    Have a review with my pension advisor tomorrow. She has a lot of explaining to do about her own performance in the 2 years they’ve had my funds 😉
    Profits profit!

    whose your pension with?
    Managed by Principal & Prosper on the abrdn platform. Down 7.5% over the last 2 years. Up just over 3% in the last 12 months, but that was 5.5% (for the 12 months) a couple of weeks ago. 
  • That’s crazy. Down 7.5% in 2 years. A FTSE100 tracker would be up 5%!

    assume you aren’t contributing? If you are that’s even worse. I’d be changing advisor, or go it alone.
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  • Rob7Lee said:
    That’s crazy. Down 7.5% in 2 years. A FTSE100 tracker would be up 5%!

    assume you aren’t contributing? If you are that’s even worse. I’d be changing advisor, or go it alone.
    Yep. I get the first year was an extraordinary one, but I haven’t been impressed with this last year. They’ve sent through a raft of recommendations to change, but I’m waiting to speak with her to discuss this further and clarify that big drop in the improvement a couple of weeks ago. I had intended to give them 3 years, but will review that over the next few weeks. 
  • Rob7Lee said:
    out at 57p, for once it was good for the train to be delayed 😂

    watch it fly higher now, but I’ll take nearly £5.5k profit in a few days thanks.
    👏👏👏👏👏
  • edited October 2023
    Quick one
    In one year how much can I put in a cash ISA (£30K I think); over and above this can I also put money into a stocks and shares ISA or is it one or the other?

    Ps. Arsenal at 1/4 to finish in the Top4 would have been a safer way to make 25% than Metro I reckon, but well done to those that did!
  • Quick one
    In one year how much can I put in a cash ISA (£30K I think); over and above this can I also put money into a stocks and shares ISA or is it one or the other?

    Ps. Arsenal at 1/4 to finish in the Top4 would have been a safer way to make 25% than Metro I reckon, but well done to those that did!
    The limit is £20k per tax year and you’re limited to one choice per year between the cash, stocks & shares, innovative finance or lifetime allowance ISAs. 

  • TelMc32 said:
    Quick one
    In one year how much can I put in a cash ISA (£30K I think); over and above this can I also put money into a stocks and shares ISA or is it one or the other?

    Ps. Arsenal at 1/4 to finish in the Top4 would have been a safer way to make 25% than Metro I reckon, but well done to those that did!
    The limit is £20k per tax year and you’re limited to one choice per year between the cash, stocks & shares, innovative finance or lifetime allowance ISAs. 

    Not entirely true (or maybe the way it's written?), whilst £20k is the limit you can mix and match, so you can have both cash and stocks and shares as long as you don't exceed £20k between them.
  • TelMc32 said:
    Rob7Lee said:
    That’s crazy. Down 7.5% in 2 years. A FTSE100 tracker would be up 5%!

    assume you aren’t contributing? If you are that’s even worse. I’d be changing advisor, or go it alone.
    Yep. I get the first year was an extraordinary one, but I haven’t been impressed with this last year. They’ve sent through a raft of recommendations to change, but I’m waiting to speak with her to discuss this further and clarify that big drop in the improvement a couple of weeks ago. I had intended to give them 3 years, but will review that over the next few weeks. 
    Without knowing the exact circumstances, age, risk profile etc it may be correct based on all of that, but I wouldn't expect a SIPP to be down that much if I'm honest regardless.

    Be interesting as to what they say.
  • edited October 2023
    TelMc32 said:
    Rob7Lee said:
    That’s crazy. Down 7.5% in 2 years. A FTSE100 tracker would be up 5%!

    assume you aren’t contributing? If you are that’s even worse. I’d be changing advisor, or go it alone.
    Yep. I get the first year was an extraordinary one, but I haven’t been impressed with this last year. They’ve sent through a raft of recommendations to change, but I’m waiting to speak with her to discuss this further and clarify that big drop in the improvement a couple of weeks ago. I had intended to give them 3 years, but will review that over the next few weeks. 
    It really all depends on where you are invested. The more you have in Fixed Interest (Bonds) the worse the performance has been. In 2022 the average medium-risk portfolio (say 60% equities & 40% Bonds & Property) fell 10.2%. YTD you'll be lucky to be even. Last week the FTSE100 fell almost 3%. 

    There are some on here like @Rob7Lee who really knows his onions and will trade in & out of stocks/funds and make a profit. Unfortunately, for the masses that is not usually possible as it takes time & a lot of knowledge. So, in essence, I wouldn't take much store by what some people on here say how their SIPP / ISA has performed as they may well be trading a lot more than the average man on the street.

    FWIW - I would be interested to see where your pension portfolio is invested & happy to give a bit of guidance as to the make up of it & whether it should have done better than it has.
  • Anyone had any experience with Fisher Investments to manage a pension investment. Still 20+ years to retirement but I have hit their criteria for lower fees. I am not impressed with my current Scottish Widows stakeholder pension at present.  

  • Rob7Lee said:
    TelMc32 said:
    Quick one
    In one year how much can I put in a cash ISA (£30K I think); over and above this can I also put money into a stocks and shares ISA or is it one or the other?

    Ps. Arsenal at 1/4 to finish in the Top4 would have been a safer way to make 25% than Metro I reckon, but well done to those that did!
    The limit is £20k per tax year and you’re limited to one choice per year between the cash, stocks & shares, innovative finance or lifetime allowance ISAs. 

    Not entirely true (or maybe the way it's written?), whilst £20k is the limit you can mix and match, so you can have both cash and stocks and shares as long as you don't exceed £20k between them.
    Definitely the way that it’s written. Now you’ve said it, I can see that the way Gov.uk have worded it does mean you can mix & match. 
  • TelMc32 said:
    Rob7Lee said:
    That’s crazy. Down 7.5% in 2 years. A FTSE100 tracker would be up 5%!

    assume you aren’t contributing? If you are that’s even worse. I’d be changing advisor, or go it alone.
    Yep. I get the first year was an extraordinary one, but I haven’t been impressed with this last year. They’ve sent through a raft of recommendations to change, but I’m waiting to speak with her to discuss this further and clarify that big drop in the improvement a couple of weeks ago. I had intended to give them 3 years, but will review that over the next few weeks. 
    It really all depends on where you are invested. The more you have in Fixed Interest (Bonds) the worse the performance has been. In 2022 the average medium-risk portfolio (say 60% equities & 40% Bonds & Property) fell 10.2%. YTD you'll be lucky to be even. Last week the FTSE100 fell almost 3%. 

    There are some on here like @Rob7Lee who really knows his onions and will trade in & out of stocks/funds and make a profit. Unfortunately, for the masses that is not usually possible as it takes time & a lot of knowledge. So, in essence, I wouldn't take much store by what some people on here say how their SIPP / ISA has performed as they may well be trading a lot more than the average man on the street.

    FWIW - I would be interested to see where your pension portfolio is invested & happy to give a bit of guidance as to the make up of it & whether it should have done better than it has.
    I should get a full report from them tomorrow, but will ask for an electronic version too. Thanks for message. Will drop you a note when I get it 👍🏻
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  • BalladMan said:
    Anyone had any experience with Fisher Investments to manage a pension investment. Still 20+ years to retirement but I have hit their criteria for lower fees. I am not impressed with my current Scottish Widows stakeholder pension at present.  

    Other than they always seem to pop up on LinkedIn can't say I do, but any website like that where there fee's aren't shown (I couldn't find them) I'd personally give a wide berth.

    Doesn't make great reading, run forest run!

    https://www.yodelar.com/insights/fisher-investments-review
  • Rob7Lee said:
    BalladMan said:
    Anyone had any experience with Fisher Investments to manage a pension investment. Still 20+ years to retirement but I have hit their criteria for lower fees. I am not impressed with my current Scottish Widows stakeholder pension at present.  

    Other than they always seem to pop up on LinkedIn can't say I do, but any website like that where there fee's aren't shown (I couldn't find them) I'd personally give a wide berth.

    Doesn't make great reading, run forest run!

    https://www.yodelar.com/insights/fisher-investments-review
    Whilst I’ve not hear great things about Fisher Investments, I would value a Yodelar “insight” about as much as I’d value a blind man’s views on Paint colours. Yodelar are nothing short of a scam outfit. If the regulator had any balls they would have been banned long ago.
  • BalladMan said:
    Anyone had any experience with Fisher Investments to manage a pension investment. Still 20+ years to retirement but I have hit their criteria for lower fees. I am not impressed with my current Scottish Widows stakeholder pension at present.  

    My main question is why are they managing it from the US ? That would put me off for a start. 

    However, SW Stakeholder is a very basic pension with not a lot of investment choice & a basic annual fee of 1%. If your pension pot is in excess of £100k you'll certainly get a better fee structure elsewhere. So I agree with moving it but not to Fisher. 
  • BalladMan said:
    Anyone had any experience with Fisher Investments to manage a pension investment. Still 20+ years to retirement but I have hit their criteria for lower fees. I am not impressed with my current Scottish Widows stakeholder pension at present.  

    My main question is why are they managing it from the US ? That would put me off for a start. 

    However, SW Stakeholder is a very basic pension with not a lot of investment choice & a basic annual fee of 1%. If your pension pot is in excess of £100k you'll certainly get a better fee structure elsewhere. So I agree with moving it but not to Fisher. 
    many thanks for the advice. Any suggestions for providers I should research further?
  • edited October 2023
    BalladMan said:
    BalladMan said:
    Anyone had any experience with Fisher Investments to manage a pension investment. Still 20+ years to retirement but I have hit their criteria for lower fees. I am not impressed with my current Scottish Widows stakeholder pension at present.  

    My main question is why are they managing it from the US ? That would put me off for a start. 

    However, SW Stakeholder is a very basic pension with not a lot of investment choice & a basic annual fee of 1%. If your pension pot is in excess of £100k you'll certainly get a better fee structure elsewhere. So I agree with moving it but not to Fisher. 
    many thanks for the advice. Any suggestions for providers I should research further?
    Probably best to look at a platform. I'm biased as my employer "suggests" we use their one (Quilter) but Lifers on here use Hargreaves, Interactive Investor, Best Invest among others. 

    Platform fees should be no more than 0.25% pa. Then fund charges should be below 1% for a fully funded, multi asset, multi manager portfolio. Of course, you could use a basic tracker fund from the likes of Vanguard (just don't use the Life Strategy 20 fund....eh @Pragueaddick 🙂). But like most things in life, you get what you pay for. 
  • Rob7Lee said:
    Rob7Lee said:
    out at 57p, for once it was good for the train to be delayed 😂

    watch it fly higher now, but I’ll take nearly £5.5k profit in a few days thanks.
    Better than a second job!!!   :)
    That made me chuckle!! 😂

    My main SIPP seems to be making more than my main job currently, role on retirement!!
    Out of curiosity, do you have magic formula for calculating the right number needed for retirement?

    This is something I’m giving a lot of thought to right now but seems to be many differing approaches from the material I read
  • jamescafc said:
    Rob7Lee said:
    Rob7Lee said:
    out at 57p, for once it was good for the train to be delayed 😂

    watch it fly higher now, but I’ll take nearly £5.5k profit in a few days thanks.
    Better than a second job!!!   :)
    That made me chuckle!! 😂

    My main SIPP seems to be making more than my main job currently, role on retirement!!
    Out of curiosity, do you have magic formula for calculating the right number needed for retirement?

    This is something I’m giving a lot of thought to right now but seems to be many differing approaches from the material I read

    I don't think there's a magic formula as every case is unique - mortgage or not, renting so that continues to be an expense, grown children that you might want to help, grandchildren, and so on. Then there's the lifestyle you've been accustomed to - cars, holidays, eating out etc.... Do you want to cut back on those or maintain them.

    There was some research done (last year I think so already out of date what with inflation) that suggested annual income for a couple of £20k for minimum, £35k for moderate, and £55k for comfortable retirement.

    Ballpark figures I've seen is a retirement income of between 55% and 85% of pre-retirement income.
  • jamescafc said:
    Rob7Lee said:
    Rob7Lee said:
    out at 57p, for once it was good for the train to be delayed 😂

    watch it fly higher now, but I’ll take nearly £5.5k profit in a few days thanks.
    Better than a second job!!!   :)
    That made me chuckle!! 😂

    My main SIPP seems to be making more than my main job currently, role on retirement!!
    Out of curiosity, do you have magic formula for calculating the right number needed for retirement?

    This is something I’m giving a lot of thought to right now but seems to be many differing approaches from the material I read
    Don't know about Magic and there's no one size fits all, but I've worked on the basis that we (wife and I) want 70% of our annual salaries up to age 75 then dropping to 50-60% thereafter with a bit of an increase each year. So just did a spreadsheet on that remembering to reduce private pension at 67/68 or whenever you get your state pension. I have investments outside of pension also and been filling my wife's so her pension especially with state will be double her current salary.

    As a SIPP I'll leave invested once in drawdown so also I've assumed a very low rate of growth once retired (1.5%) as will de-risk a lot.
  • bobmunro said:
    jamescafc said:
    Rob7Lee said:
    Rob7Lee said:
    out at 57p, for once it was good for the train to be delayed 😂

    watch it fly higher now, but I’ll take nearly £5.5k profit in a few days thanks.
    Better than a second job!!!   :)
    That made me chuckle!! 😂

    My main SIPP seems to be making more than my main job currently, role on retirement!!
    Out of curiosity, do you have magic formula for calculating the right number needed for retirement?

    This is something I’m giving a lot of thought to right now but seems to be many differing approaches from the material I read

    I don't think there's a magic formula as every case is unique - mortgage or not, renting so that continues to be an expense, grown children that you might want to help, grandchildren, and so on. Then there's the lifestyle you've been accustomed to - cars, holidays, eating out etc.... Do you want to cut back on those or maintain them.

    There was some research done (last year I think so already out of date what with inflation) that suggested annual income for a couple of £20k for minimum, £35k for moderate, and £55k for comfortable retirement.

    Ballpark figures I've seen is a retirement income of between 55% and 85% of pre-retirement income.
    Thanks, these are the sort of numbers I’ve heard be mentioned a few times. Trigger for me is a few colleagues retired last year at 55-60. Caught up with them and asked if they regretted leaving work early. Their immediate reaction was, “we left too late” which made me wonder if we actually save much more than needed. 


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