Savings and Investments thread

PragueAddick said:

Arsenetatters said:

I only have a small percentage of my savings in S and S but can reveal that I am pretty much level at the moment. I have no idea what I'm doing so have followed @PragueAddick and @Rob7Lee and picked other bits and pieces I like the sound of.

You should be pretty happy with that, then. You can expect that from now on, when comparing 12 months ago, your performance will look worse, because in the last year we saw the big climb in markets. But we will all be in the same boat, performance wise. 

I often think I have no idea what I'm doing either, especially when I watch FTSE100 climbing back quickly from 5000 to 6000, while the biz pages are full of forecasts of unprecedented GDP falls and various companies large and small screaming for State support. So for what it's worth, when I seriously have no clue, my decision is "hold". :-)

I’m dabbling in this but will leave it long term. My Dad used to say it wasn’t for a short term investment. I’ve inherited some of his too but leaving them as they seem to be doing OK, whatever they are!

Arsenetatters said:

I only have a small percentage of my savings in S and S but can reveal that I am pretty much level at the moment. I have no idea what I'm doing so have followed @PragueAddick and @Rob7Lee and picked other bits and pieces I like the sound of.

I'm reasonably savvy and have about 15 individual stocks & shares that I've acquired over the years.  But I also have 2 SIPPs (1 in drawdown - although nothing taken yet) and most of the 12 or so funds that I've put money in have been suggestions by  @p@PragueAddick and @r@Rob7Lee.  And they've done OK.  Ones I picked myself (mainly H-L recommendations)...haven't!

Rob7Lee said:

@Arsenetatters I agree to an extent generally leaving them will be ok, but worth reviewing what you are leaving them in. Are they in the best, worst or average performance funds or shares? Also what spread do you have?

I was probably being a bit flippant when I said I’ll leave them long term. My ‘plan’ is to wait until the outcome of Coronavirus is more obvious and then review the whole lot. 
Reasonable spread to hedge my bets. I don’t put all my eggs in one basket to use a hen phrase. 
To be honest I’m like my Dad. I live a very frugal life, don’t have expensive tastes and rarely buy anything that isn’t related to my chicken rescues.  Like him I have savings to avoid feeling too anxious about ‘what if’. I inherited his savings and unless the house falls down someone will probably inherit mine. As an only child with no other family it will probably be a hen rescue charity!

£75 this month.

£25

PragueAddick said:

Rob7Lee said:

Premium bond day...... and nowt for me, on a bit over 30k holding, £75 for Mrs Rob7Lee with max holding.

Think i'm going to find a new home for mine and sell the lot, I had a pretty good run last year and beat the average, but this year since dropping the holding a bit it hasn't been great.

£25 for me, but have been on a relatively good run of late.

Would be interested to know where the new home might be. I've considered it several times but never really found a good answer, if 100% security against losses is a criterion. Banks busy reducing their "high" interest accounts right now, of course.

In the UK there are Structured Products. The ones I usually advise on are investment based but there are a few deposit based ones too. Full FSCS protection & guaranteed to get your initial capital back. Last one I did for a client paid 3.5% pa over 3 yrs.....so 10.5% return. FTSE had to be at or above its initial starting level for it to make a return. Right now that looks like a good bet.

Chaz Hill said:

£25 for me but Chaz jnr had 4x£25! Have been moving my Nationwide savings accounts to various N S &I products following pretty savage interest rate cuts by the former. 

Pisses me off big time that Nationwide markets itself as someone who wants to do the best for their members.

Interests rates go down by .65% but they put the rates down on their Loyalty saver accounts by .85%. Only a little thing but it just irks big time!

I hope everyone moves their money from Nationwide to NSI! 

£125 for me from Ernie...same as last month 😊.  Currently running at 1.74% return for year.

So I’ve been saving the money I Would have given SouthEastern and Pret. Load in a 1.1% cash isa, lump in stocks and shares isa, bit in ETFs, and a slice on Crypto. Useful pot of cash, nicely spread. 

If anyone fancies a little play with crypto and get yourself some free bitcoin thrown in, use the link 

https://www.coinbase.com/join/zarb_zo?src=ios-link

LenGlover said:

Had an ISA mature with Yorkshire Building Society recently. Their best offer was to offer me 0.1% to stay with them! So much for valuing existing customers. Needless to say I've transferred it elsewhere. If they insult me with such a derisory offer they can poke it.

Snap. My wife has 2 cash ISAs expiring with the YBS this month and as you say, she can't roll the money over to any of their "high" paying interest accounts. Absurd - so much for loyalty.

I actually phoned the manager of my local branch and asked why. Apparently, it's because the "powers that be" got fed up with people churning their accounts and moving their money into higher paying ones. (We do that, seems eminently sensible to me). The manager i spoke to sympathised with me and said it caused them a lot of grief on the shop floor.

Like you, we'll be transferring the funds elsewhere.

Rob7Lee said:

PragueAddick said:

Rob7Lee said:

Premium bond day...... and nowt for me, on a bit over 30k holding, £75 for Mrs Rob7Lee with max holding.

Think i'm going to find a new home for mine and sell the lot, I had a pretty good run last year and beat the average, but this year since dropping the holding a bit it hasn't been great.

£25 for me, but have been on a relatively good run of late.

Would be interested to know where the new home might be. I've considered it several times but never really found a good answer, if 100% security against losses is a criterion. Banks busy reducing their "high" interest accounts right now, of course.

Not sure yet, I have other cash so it won't necessarily all be in cash, will have to put any cash in my wife's name to keep to paying no tax on any interest, otherwise I may as well put it under the mattress!

The odd fellows/Unity Mutual pay 2.25% for 5 years, but not sure I want to tie it up that long and still not a great return.

@golfaddick I assume they are the usual, i.e. guaranteed capital safe, but not guaranteed return? One's like Investec's 3 year plan, pays up to 10.5% if above the initial index, money back if not? Right now seems a sensible place......... IFA only though 

EDIT

I'm tempted to put some in the FTSE 100 8 Year Kick-Out Plan 2

Bit higher risk, but if you leave the full 8 years and the FTSE is above the initial level returns capital plus 80%, can kick out from year two onwards at 10% per annum (again if above). If below 60% then you lose 1% for every 1% fall. But this one isn't FSCS protected so maybe not.....

Yes, there are 2 distinct types. The deposit based ones are FSCS protected but are usually cash based & so are taxed in line with income tax. The investment based ones are not protected & you could lose everything, but in reality are protected with a 45%-50% ''floor" , ie the FTSE (or whatever index you are tracking) has to fall by that much before you start losing £ for £. These  are CGT based, so as long as you keep your investment inline with the annual exemption then there should  not be any tax to pay on the returns. The minimum term is now around 6 years, but there are 8 & 10 years ones as you say. Many different versions as well & the ones I've been advising on over the past few years have been "defensive" ones where they pay out even if the FTSE has fallen over the period. Usually kick out after 2 years, and every year thereafter, with the observation level reducing by 5% pa, so that on the 6th year the Index has to be above 80% of its initial level to pay out. It's been a great hedge over the past 2 years, with Brexit etc, but didnt bank on the FTSE falling 25% in little over a month !

You know where to come if you need advice....😉