Savings and Investments thread
Comments
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You are. FAD is merely the name given to authorised plans that are able to facilitate drawdown. Anyone in an "old style" personal pension or stakeholder plan cant go into drawdown with those plans & would have to transfer the benefits into a plan that could.LargeAddick said:golfaddick said:LargeAddick said:
meaning what? Move the money out of the SIPP and into? Would a 'plan' allow me the same flexability? Would it mean Mrs Large would still get the full benefit of it if I were to pass away?golfaddick said:I wouldn't worry too much about the structured products within your portfolio. These will come under the "alternatives" portion.....and that will include the absolute return funds too. Being a SIPP it means Investec will invest not only in collectives (Oeics & Investment Trusts) but also ETF's, direct shares & other investment strategies. You will find that they might trade more than you expect & may not hold some of the more well known funds.
Looking at your portfolio I think a few of the OEIC finds are a bit old hat, like Fidelity special sits, Henderson European Select ops & the AXA funds......but you do have Findlay Park American & Fidelity Moneybuilder, which are decent funds.
A SIPP wouldn't be my product of choice , but that's maybe because it means you should be trading in & out of funds & strategies.....and that takes a lot of time & effort for the layman (hence why you've outsourced it to a DFM). Once in drawdown you may want to look at a more traditional approach & go for a plan with someone like Royal London.YES.
Royal London offer a flexi-access drawdown plan - 5 Governed |Portfolios that get viewed & adjusted quarterly and specifically designed for those in "drawdown", Or you can have one of their 9 Governed Portfolios that are primarily used for those building up their pension fund, but can be used for anyone. Or Lifestyle portfolios (generally used for GPP's) or just use their fund range.
And the cost for this. Just 0.45% pa for portfolios in excess of £70k - 0.4% if in excess of £200k (or thereabouts).
so what is the difference between FAD and SIPP? Am I not already drawing-down from my SIPP?
Best you speak to your adviser.....thats what you pay him for...
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I’m very interested to hear of a decent ISA platform provider that will allow low charge investment across a decent range of medium to high risk investments.
I’m probably going to be lucky enough to have full use of my ISA limit over the next few years from a fairly standing start and any recommendations for easy to use platforms and then funds would be gratefully received.1 -
Best off speaking to an IFA then...Alwaysneil said:I’m very interested to hear of a decent ISA platform provider that will allow low charge investment across a decent range of medium to high risk investments.
I’m probably going to be lucky enough to have full use of my ISA limit over the next few years from a fairly standing start and any recommendations for easy to use platforms and then funds would be gratefully received.
Seriously for a moment. As you've only got a week before the end of the tax year it might be best to simply stick £20k into a Cash ISA for now, so you don't miss the deadline, and it can be transferred into a Stocks & Shares one at a later date.1 -
Just just putting this here...can't find brexit thread & it is about money anyways....😜
Letter to Mrs. May - Genius!!
Dear Mrs. May,
Please find below our suggestion for fixing Brexit.
Instead of giving billions of pounds to Euro crates, that will squander the money on lavish parties and unearned bonuses, use the following plan.
You can call it the Patriotic Retirement Plan:
There are about 10 million people over 50 in the work force.
Pay them £1 million each severance for early retirement with the following stipulations:
1) They MUST retire.
Ten million job openings - unemployment fixed
2) They MUST buy a new British car.
Ten million cars ordered - Car Industry fixed
3) They MUST either buy a house or pay off their mortgage -
Housing Crisis fixed
4) They MUST send their kids to school/college/university -
Crime rate fixed
5) They MUST buy £100 WORTH of alcohol/tobacco a week .....
And there's your money back in duty/tax etc
It can't get any easier than that!
P.S. If more money is needed, have all members of parliament pay back their falsely claimed expenses and second home allowances
If you think this would work, please forward to everyone you know.
Also.....
Let's put the pensioners in jail and the criminals in a nursing home.
This way the pensioners would have access to showers, hobbies and walks.
They'd receive unlimited free prescriptions, dental and medical treatment, wheel chairs etc and they'd receive money instead of paying it out.
They would have constant video monitoring, so they could be helped instantly, if they fell, or needed assistance.
Bedding would be washed twice a week, and all clothing would be ironed and returned to them.
A guard would check on them every 20 minutes and bring their meals and snacks to their cell.
They would have family visits in a suite built for that purpose.
They would have access to a library, weight room, spiritual counselling, pool and education.
Simple clothing, shoes, slippers, PJ's and legal aid would be free, on request.
Private, secure rooms for all, with an exercise outdoor yard, with gardens.
Each senior could have a PC a TV radio and daily phone calls.
There would be a board of directors to hear complaints, and the guards would have a code of conduct that would be strictly adhered to.
The criminals would get cold food, be left all alone and unsupervised. Lights off at 8pm, and showers once a week. Live in a tiny room and pay £600.00 per week and have no hope of ever getting out.
Think about this (more points of contention):
COWS
Is it just me, or does anyone else find it amazing that during the mad cow epidemic our government could track a single cow, born in Appleby almost three years ago, right to the stall where she slept in the county of Cumbria?
And, they even tracked her calves to their stalls. But they are unable to locate 125,000 illegal immigrants wandering around our country. Maybe we should give each of them a cow.
------------------------------------------------------------------------
Also;
Think about this ... If you don't want to forward this for fear of offending someone -- YOU ARE PART OF THE PROBLEM! It is time for us grumpy old folk of Britain to
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I use fidelity, find it easy to use, reasonable charges especially when you get over 250k, wide range of funds.Alwaysneil said:I’m very interested to hear of a decent ISA platform provider that will allow low charge investment across a decent range of medium to high risk investments.
I’m probably going to be lucky enough to have full use of my ISA limit over the next few years from a fairly standing start and any recommendations for easy to use platforms and then funds would be gratefully received.0 -
Is thursdsy early day release. Best get the men in white coats to take you back. Beyond bonkers.NorthheathAddick said:Just just putting this here...can't find brexit thread & it is about money anyways....😜Letter to Mrs. May - Genius!!
Dear Mrs. May,
Please find below our suggestion for fixing Brexit.
Instead of giving billions of pounds to Euro crates, that will squander the money on lavish parties and unearned bonuses, use the following plan.
You can call it the Patriotic Retirement Plan:
There are about 10 million people over 50 in the work force.
Pay them £1 million each severance for early retirement with the following stipulations:
1) They MUST retire.
Ten million job openings - unemployment fixed
2) They MUST buy a new British car.
Ten million cars ordered - Car Industry fixed
3) They MUST either buy a house or pay off their mortgage -
Housing Crisis fixed
4) They MUST send their kids to school/college/university -
Crime rate fixed
5) They MUST buy £100 WORTH of alcohol/tobacco a week .....
And there's your money back in duty/tax etc
It can't get any easier than that!
P.S. If more money is needed, have all members of parliament pay back their falsely claimed expenses and second home allowances
If you think this would work, please forward to everyone you know.
Also.....
Let's put the pensioners in jail and the criminals in a nursing home.
This way the pensioners would have access to showers, hobbies and walks.
They'd receive unlimited free prescriptions, dental and medical treatment, wheel chairs etc and they'd receive money instead of paying it out.
They would have constant video monitoring, so they could be helped instantly, if they fell, or needed assistance.
Bedding would be washed twice a week, and all clothing would be ironed and returned to them.
A guard would check on them every 20 minutes and bring their meals and snacks to their cell.
They would have family visits in a suite built for that purpose.
They would have access to a library, weight room, spiritual counselling, pool and education.
Simple clothing, shoes, slippers, PJ's and legal aid would be free, on request.
Private, secure rooms for all, with an exercise outdoor yard, with gardens.
Each senior could have a PC a TV radio and daily phone calls.
There would be a board of directors to hear complaints, and the guards would have a code of conduct that would be strictly adhered to.
The criminals would get cold food, be left all alone and unsupervised. Lights off at 8pm, and showers once a week. Live in a tiny room and pay £600.00 per week and have no hope of ever getting out.
Think about this (more points of contention):
COWS
Is it just me, or does anyone else find it amazing that during the mad cow epidemic our government could track a single cow, born in Appleby almost three years ago, right to the stall where she slept in the county of Cumbria?
And, they even tracked her calves to their stalls. But they are unable to locate 125,000 illegal immigrants wandering around our country. Maybe we should give each of them a cow.
------------------------------------------------------------------------
Also;
Think about this ... If you don't want to forward this for fear of offending someone -- YOU ARE PART OF THE PROBLEM! It is time for us grumpy old folk of Britain to
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No Wednesday is...I'm still on the run...😉,oh & it wasn't me who wrote that masterpiece,I can't claim to be that clever or elequent...but me myself laughed at it too...but it's actually not quite absurd as too that it would never happen...(last sentence might not make sense...🤔...🙄) because there is a lot in there that does actually make sense...in an ironic sort of way...golfaddick said:
Is thursdsy early day release. Best get the men in white coats to take you back. Beyond bonkers.NorthheathAddick said:Just just putting this here...can't find brexit thread & it is about money anyways....😜Letter to Mrs. May - Genius!!
Dear Mrs. May,
Please find below our suggestion for fixing Brexit.
Instead of giving billions of pounds to Euro crates, that will squander the money on lavish parties and unearned bonuses, use the following plan.
You can call it the Patriotic Retirement Plan:
There are about 10 million people over 50 in the work force.
Pay them £1 million each severance for early retirement with the following stipulations:
1) They MUST retire.
Ten million job openings - unemployment fixed
2) They MUST buy a new British car.
Ten million cars ordered - Car Industry fixed
3) They MUST either buy a house or pay off their mortgage -
Housing Crisis fixed
4) They MUST send their kids to school/college/university -
Crime rate fixed
5) They MUST buy £100 WORTH of alcohol/tobacco a week .....
And there's your money back in duty/tax etc
It can't get any easier than that!
P.S. If more money is needed, have all members of parliament pay back their falsely claimed expenses and second home allowances
If you think this would work, please forward to everyone you know.
Also.....
Let's put the pensioners in jail and the criminals in a nursing home.
This way the pensioners would have access to showers, hobbies and walks.
They'd receive unlimited free prescriptions, dental and medical treatment, wheel chairs etc and they'd receive money instead of paying it out.
They would have constant video monitoring, so they could be helped instantly, if they fell, or needed assistance.
Bedding would be washed twice a week, and all clothing would be ironed and returned to them.
A guard would check on them every 20 minutes and bring their meals and snacks to their cell.
They would have family visits in a suite built for that purpose.
They would have access to a library, weight room, spiritual counselling, pool and education.
Simple clothing, shoes, slippers, PJ's and legal aid would be free, on request.
Private, secure rooms for all, with an exercise outdoor yard, with gardens.
Each senior could have a PC a TV radio and daily phone calls.
There would be a board of directors to hear complaints, and the guards would have a code of conduct that would be strictly adhered to.
The criminals would get cold food, be left all alone and unsupervised. Lights off at 8pm, and showers once a week. Live in a tiny room and pay £600.00 per week and have no hope of ever getting out.
Think about this (more points of contention):
COWS
Is it just me, or does anyone else find it amazing that during the mad cow epidemic our government could track a single cow, born in Appleby almost three years ago, right to the stall where she slept in the county of Cumbria?
And, they even tracked her calves to their stalls. But they are unable to locate 125,000 illegal immigrants wandering around our country. Maybe we should give each of them a cow.
------------------------------------------------------------------------
Also;
Think about this ... If you don't want to forward this for fear of offending someone -- YOU ARE PART OF THE PROBLEM! It is time for us grumpy old folk of Britain to
0 -
Hi Neil. There is a Scottish consultancy called The Lang Cat who specialise in monitoring platforms. You can download their free analysis which will show you the cheapest option for the particular criteria you will have. They write in an irreverent and very Scottish style which marks them out from any other financail commentators, so well worth signing up even if you probably won't understand half of what they are on about.Alwaysneil said:I’m very interested to hear of a decent ISA platform provider that will allow low charge investment across a decent range of medium to high risk investments.
I’m probably going to be lucky enough to have full use of my ISA limit over the next few years from a fairly standing start and any recommendations for easy to use platforms and then funds would be gratefully received.
I learnt from them that there are a whole load of platforms which are for use only by IFAs and the like, with extra functions which the great unwashed like us cannot be trusted with. Doubtless @golfaddick uses one...0 -
I have primarily used Cofunds since 2005 & although their takeover by Aegon & the subsequent migration of their platform last year was a nitemare their functionality options are pretty decent.
I also have around a dozen clients with Fidelity Fundsnetwork......but putting any new clients onto Old Mutuals platform.
Aegon/Cofunds charge 0.26% and Old Mutual 0.2%.. Can't remember what Fidelity charge.0 -
I think Fidelity is 0.4%...don't quote me on that though. I love Fidelity's platform, dead easy.0
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Cofunds were good, but since Aegon took over, the reporting and admin have been a disgrace. Have switched to A J Bell whose systems and admin seem very good.0
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Fidelity is 0.35%, 0.25% if assets over £250k.1
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I've been eyeing up Vanguard for an investment ISA due to the low fees but you can only access Vanguard funds which puts me off a bit.0
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Vanguard are just tracker funds. They do a range of equity funds, from 20% equity/ 80% bonds right up to 100% equity. May be cheap, but you get what you pay for.The Red Robin said:I've been eyeing up Vanguard for an investment ISA due to the low fees but you can only access Vanguard funds which puts me off a bit.1 -
I agree to a point. Was doing an online switch & £20k investment yesterday......takes ages for the functionality to work & forever waiting for funds to load or to toggle between funds. Better than some worse than others.The Red Robin said:I think Fidelity is 0.4%...don't quote me on that though. I love Fidelity's platform, dead easy.1 -
Nitemare for advisors last May when they migrated the platforms. Couldn't get illustrations online for weeks & had to wait over an hour on the phone just to get one. Took a client 6 weeks to get their money when cashing in & I ditched an ISA transfer after 2 months when they still hadn't chased up the money from Santander.LeeValley said:Cofunds were good, but since Aegon took over, the reporting and admin have been a disgrace. Have switched to A J Bell whose systems and admin seem very good.0 -
My ISA is with Hargreaves Landsdown. They have a variety of funds from low to high risk and most don't have an initial fee. I pay about £60 a month charges on a portfolio valued around £190,000.Alwaysneil said:I’m very interested to hear of a decent ISA platform provider that will allow low charge investment across a decent range of medium to high risk investments.
I’m probably going to be lucky enough to have full use of my ISA limit over the next few years from a fairly standing start and any recommendations for easy to use platforms and then funds would be gratefully received.
I used to have the ISA with Fidelity but had so many issues with them regarding price updating and lack of information that I moved it all to HL.1 -
Never had an issue with Fidelity, anyone use Interactive investor though? Seem to have quite a low charge if you have fair amount?0
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A few things to share.
Premium Bonds. I used inheritance money to whack up to close to the max allowed and monitored what I earned over 12 months. They suggest you should expect 1.4%, with those on max more likely to achieve that. My result: 1.12%. Hmmm. Worse than I get from two bank savings accounts. But of course there is always the dream...
P2P and specifically Funding Circle, which I have been in for a couple of years now. Few months ago the 4thWay website withdrew its plus ratings for Funding Circle. Then at the beginning of the year I noticed my projected returns dropping to 4.1% which isn't great for a B2B sector operation. Then I withdrew some money and it took 5 weeks for them to sell loan parts. I am now selling some more. I might be over-reacting but I always told myself that P2P is OK so long as I monitor closely and get out at the slightest sign of trouble.
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I did similar on the PB's - my return was 1.25% (£625), my wife faired much better with 1.8% (£900) on £50k AND she didn't even hold the full £50k for the first 4 months (had about half). Don't forget the tax free status helps, makes mine about 2.3%. I've cashed 2/3rds of mine in now, and no surprise didn't win anything for April.
I'm just about totally out of P2P now. For me the returns v risk no longer stacked up.
It's getting harder to find places to get a decent return. I might go back into BTL, but this time for yield rather than capital gain, you can still buy places in the north for sub £30k with sitting tenants paying £100-£110 a week/£5,200 - £5,720 per annum, circa a gross yield of 20%. Buy 6-10 in a company probably makes sense.
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What’s the catch?Rob7Lee said:you can still buy places in the north for sub £30k with sitting tenants paying £100-£110 a week/£5,200 - £5,720 per annum, circa a gross yield of 20%. Buy 6-10 in a company probably makes sense.
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Did you account for the complete calendar month your premium bond purchases weren't in the draw?PragueAddick said:A few things to share.
Premium Bonds. I used inheritance money to whack up to close to the max allowed and monitored what I earned over 12 months. They suggest you should expect 1.4%, with those on max more likely to achieve that. My result: 1.12%. Hmmm. Worse than I get from two bank savings accounts. But of course there is always the dream...
P2P and specifically Funding Circle, which I have been in for a couple of years now. Few months ago the 4thWay website withdrew its plus ratings for Funding Circle. Then at the beginning of the year I noticed my projected returns dropping to 4.1% which isn't great for a B2B sector operation. Then I withdrew some money and it took 5 weeks for them to sell loan parts. I am now selling some more. I might be over-reacting but I always told myself that P2P is OK so long as I monitor closely and get out at the slightest sign of trouble.0 -
With-profit Bonds. Not very sexy but returning around 4% -5% pa at the moment. Obviously not as good for high rate taxpayers as for basic rate taxpayers but they are safe & steady. I usually recommend Prudential or LV.Rob7Lee said:I did similar on the PB's - my return was 1.25% (£625), my wife faired much better with 1.8% (£900) on £50k AND she didn't even hold the full £50k for the first 4 months (had about half). Don't forget the tax free status helps, makes mine about 2.3%. I've cashed 2/3rds of mine in now, and no surprise didn't win anything for April.
I'm just about totally out of P2P now. For me the returns v risk no longer stacked up.
It's getting harder to find places to get a decent return. I might go back into BTL, but this time for yield rather than capital gain, you can still buy places in the north for sub £30k with sitting tenants paying £100-£110 a week/£5,200 - £5,720 per annum, circa a gross yield of 20%. Buy 6-10 in a company probably makes sense.
For the more adventourous I'd look at Structured Products. Deposit based ones are safe & protected under the FSCS, but are usually taxed as income. The riskier ones (capital at risk or SCARPS) are returning 6%- 7% pa and are taxed as capital & so you can use your annual CGT allowance on maturity.1 -
Is there a minimum time to hold them?golfaddick said:
With-profit Bonds. Not very sexy but returning around 4% -5% pa at the moment. Obviously not as good for high rate taxpayers as for basic rate taxpayers but they are safe & steady. I usually recommend Prudential or LV.Rob7Lee said:I did similar on the PB's - my return was 1.25% (£625), my wife faired much better with 1.8% (£900) on £50k AND she didn't even hold the full £50k for the first 4 months (had about half). Don't forget the tax free status helps, makes mine about 2.3%. I've cashed 2/3rds of mine in now, and no surprise didn't win anything for April.
I'm just about totally out of P2P now. For me the returns v risk no longer stacked up.
It's getting harder to find places to get a decent return. I might go back into BTL, but this time for yield rather than capital gain, you can still buy places in the north for sub £30k with sitting tenants paying £100-£110 a week/£5,200 - £5,720 per annum, circa a gross yield of 20%. Buy 6-10 in a company probably makes sense.
For the more adventourous I'd look at Structured Products. Deposit based ones are safe & protected under the FSCS, but are usually taxed as income. The riskier ones (capital at risk or SCARPS) are returning 6%- 7% pa and are taxed as capital & so you can use your annual CGT allowance on maturity.
My knowledge is limited but I've read that with investments one should look at holding for a minimum of 5 years generally.
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Yes, the usual caveat that you should hold "investments" for 5 years......but that is generally so that any early losses can be made up & (in the old days) charges would eat into the capital early doors & that there may also be exit penalties too, but since RDR these have been mostly eliminated.
Capital at risk Structured Products are generally 6 years, but many have a "kick-out" feature which means given certain criteria being met the plan would mature early. Deposit based ones start from 3 years.
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You have northerners as tenants.Siv_in_Norfolk said:
What’s the catch?Rob7Lee said:you can still buy places in the north for sub £30k with sitting tenants paying £100-£110 a week/£5,200 - £5,720 per annum, circa a gross yield of 20%. Buy 6-10 in a company probably makes sense.
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Good shout. However I already had half of the total holding and was just topping up. Just to make sure I will work it out again based on the next draw.LenGlover said:
Did you account for the complete calendar month your premium bond purchases weren't in the draw?PragueAddick said:A few things to share.
Premium Bonds. I used inheritance money to whack up to close to the max allowed and monitored what I earned over 12 months. They suggest you should expect 1.4%, with those on max more likely to achieve that. My result: 1.12%. Hmmm. Worse than I get from two bank savings accounts. But of course there is always the dream...
P2P and specifically Funding Circle, which I have been in for a couple of years now. Few months ago the 4thWay website withdrew its plus ratings for Funding Circle. Then at the beginning of the year I noticed my projected returns dropping to 4.1% which isn't great for a B2B sector operation. Then I withdrew some money and it took 5 weeks for them to sell loan parts. I am now selling some more. I might be over-reacting but I always told myself that P2P is OK so long as I monitor closely and get out at the slightest sign of trouble.0 -
You need to be very careful of what and where you buy. I can buy a house in Hartlepool for sub £20k, but it’ll be the only house on the street not boarded up......Siv_in_Norfolk said:
What’s the catch?Rob7Lee said:you can still buy places in the north for sub £30k with sitting tenants paying £100-£110 a week/£5,200 - £5,720 per annum, circa a gross yield of 20%. Buy 6-10 in a company probably makes sense.
Student letting can be quite good as well but more work, Nottingham is good from a yield perspective £120k and gross rental of around £20k.
owning as an individual higher rate tax payer is a bit of a killer, especially if you are leveraging finance. Not always best but in a company works especially if you are reinvesting profit rather than withdrawing.0 -
Anyone any thoughts or experience of a company called Basset and Gold. They seem to offer ridiculously high returns! Almost too good to be true. They are sponsors of West Ham as I assume the Gold from Basset and Gold is probably David Gold (co-chairman). Thoughts on worth a punt?
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Looks very much like/carbon copy of London Capital Finance......... be prepared to lose all your money!0
