Never invested in my future at all until last year. I got a virgin stakeholder pension with only about 3k plus £250 pm going into it. I also started a new job and joined into their defined contributions pension , me 5% girn 10% and also workplace me 3% firm another %6. So 24% total. I feel im in good place regarding my company pension but not so with virgin. I have 20k savings and want to invest long term. Im 39 years old so need to think of future now. Any tips be good. Think i will find a IFA for advice as im just a pipebender according to me mates. Cheere
Not sure I quite understand your figures. What does "girn 10%" mean.
As an IFA I should be congratulating you for putting almost 25% of your income into pensions, but not knowing your history I might say its actually too much, as once its gone in you won't be able to get at it until you are at least 57.
Until last sept i never invested in future other than my house that i now own fully so want to really invest now for later years now mortgage done with.
If you already have a mortgage I would suggest you shouldn't have a LISA, because they are not thought to be the best vehicle for pensions ie pensions are better.
Cant see it tbh. I think the expence will be to high. I think the future will be electric but 40% of electric is still produced from burning gas. The focus will be in insulation imo.
Sorry golf. Fat fingers and not checking. My firm has 2 pension . I pay total 8% firm pays 16% in total.
If you have 24% going into a pension I would probably say look at an ISA (or LISA) for any further savings/investment. One thing I would say is to check the investment strategy of your workplace pension. Many use a basic default setting......I had 1 client whose entire contributions were going into cash ! Most schemes should offer a couple of choices at least & its usually possible to switch between funds. Your risk strategy, and therefore fund choice, will be a lot different to a 60 year old bloke looking to retire in 5 years.
Cherrs golfaddick. Yes we have a risk fund choice. I understand that it is auto set and changes the older i get but i can change if i wanted to. I think ( lisa ) could be for me. Need to look into my personal pension with virgin closer tho. Cheers
The LISA is in effect just going to be another pension, although very tax efficient, I wouldn't be restricting all your money for another 20 years, make sure you are investing/saving some for a shorter term.
The LISA is in effect just going to be another pension, although very tax efficient, I wouldn't be restricting all your money for another 20 years, make sure you are investing/saving some for a shorter term.
I would echo this.
Cash is king, whether in business or in personal life - paper rich and cash poor is not good, and a balance is needed.
Also people are different - my take has always been to have one eye on the future and one eye firmly in the present. It is of course sensible to ensure sufficient income in retirement but also to live your life now.
The LISA is in effect just going to be another pension, although very tax efficient, I wouldn't be restricting all your money for another 20 years, make sure you are investing/saving some for a shorter term.
I would echo this.
Cash is king, whether in business or in personal life - paper rich and cash poor is not good, and a balance is needed.
Also people are different - my take has always been to have one eye on the future and one eye firmly in the present. It is of course sensible to ensure sufficient income in retirement but also to live your life now.
I echo the last sentence. You need to strike the right balance between putting everything away for your retirement & actually living today.
My pension portfolio down just 7% from its January high. Same level as it was less than 12 months ago
Looks like you know a good financial adviser.
Ahem. My SIPP is up 1% on this time last year, and down only 4% on Jan high...
but I should be fair to Golfie and other decent IFAs and acknowledge that my SIPP was assembled by an IFA and there are still funds he selected in my current portfolio, even though we parted ways over four years ago. And also I've been 30-40% in cash more by accident than design in the last year which of course cushioned the fall.
On SIPP I'm almost at even now to my previous high, been doing a bit of trading the past week or so (one benefit of working from Home!) and have now dumped all the Gold funds as I had done really well on those.
Been in and out a couple of times on Tullow oil and did pretty good in 2 days on Lloyds bank. Started to think I might pack up the insurance game and just trade! Holding my nerve on Go Ahead and Legal and General, L&G up double digit % since I bought at the end of last week.....
My ISA is storming as by accident I sold out before the crash and have been back in for a couple of weeks now, also helped by getting some compensation from Fidelity and HSBC.
My pension portfolio down just 7% from its January high. Same level as it was less than 12 months ago
Looks like you know a good financial adviser.
Ahem. My SIPP is up 1% on this time last year, and down only 4% on Jan high...
but I should be fair to Golfie and other decent IFAs and acknowledge that my SIPP was assembled by an IFA and there are still funds he selected in my current portfolio, even though we parted ways over four years ago. And also I've been 30-40% in cash more by accident than design in the last year which of course cushioned the fall.
There's the rub. Mine is fully invested - about 70% equities & the rest spread between gilts, corporate bonds & commercial property. I will admit that The Argonaut Absolute return fund has been the star of the show, being up 20%+ since March. I went into late last year as a hedge against Brexit not happening as I didnt want to be too heavily weighted in UK equities. Also surprising to see that the 2 US funds are still in positive territory for the past 4 months (albeit only showing gains of between 1% and 2%). The one fund that has really let me down is a UK AIM fund, which is down 26% since the start of the year. But again, it has risen 80% over the past 3 years so i can't really complain.
Charteris gold & precious metals is a good fund to be in if you want exposure in that area.
Probably wrong but think they are near a peak,
My main holding was Ninety One Global Gold, up about 60% since mid March when it had a bot of a dip, but up 72% in a year.
I would have to agree with you but the fund manager thinks not. Obviously they would say that as its in their interests for people to buy into their fund, but the reasons for the positivity were compelling.
I can't remember who but someone posted on here last week that they had just bought some Lloyds shares at 28p and that they would sell them when they got back to 32p. Currently 33p. Well done fill yer boots
I can't remember who but someone posted on here last week that they had just bought some Lloyds shares at 28p and that they would sell them when they got back to 32p. Currently 33p. Well done fill yer boots
Charteris gold & precious metals is a good fund to be in if you want exposure in that area.
Probably wrong but think they are near a peak,
My main holding was Ninety One Global Gold, up about 60% since mid March when it had a bot of a dip, but up 72% in a year.
I would have to agree with you but the fund manager thinks not. Obviously they would say that as its in their interests for people to buy into their fund, but the reasons for the positivity were compelling.
I'm happy to take the profit, learnt long ago to never chase the top as invariably i'll get it wrong. My wife's now up nearly 40% on Go Ahead shares - funny how when I pick them if they drop it's my fault, if they go up she's a genius!
My daughter is thinking of dipping her toes into stocks and shares starting small. Does anyone have any good tips or suggestions on how to start and what to look out for?. Also any good (easy) reading material you can suggest?. Cheers.
Comments
EDIT: will be in touch when my boiler service is due. Cash of course.
EDIT 2: What are you plans for the banning of gas boilers in new builds from 2025?
Need to look into my personal pension with virgin closer tho. Cheers
It does look like you can change this fund on the Standard Life site. Any tips? In my mid 30's.
Will probably be more ups & downs but hoping that 6000 will soon be the barrier & will get to my prediction of 6500-7000 by August
but I should be fair to Golfie and other decent IFAs and acknowledge that my SIPP was assembled by an IFA and there are still funds he selected in my current portfolio, even though we parted ways over four years ago. And also I've been 30-40% in cash more by accident than design in the last year which of course cushioned the fall.
Been in and out a couple of times on Tullow oil and did pretty good in 2 days on Lloyds bank. Started to think I might pack up the insurance game and just trade! Holding my nerve on Go Ahead and Legal and General, L&G up double digit % since I bought at the end of last week.....
My ISA is storming as by accident I sold out before the crash and have been back in for a couple of weeks now, also helped by getting some compensation from Fidelity and HSBC.
My main holding was Ninety One Global Gold, up about 60% since mid March when it had a bot of a dip, but up 72% in a year.
Currently 33p.
Well done fill yer boots