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  • FIRST POST
    • scoot65
    • By scoot65 6th Feb 18, 11:18 AM
    • 154Posts
    • 58Thanks
    scoot65
    Fund (my first) S&S ISA now, or wait a few days?
    • #1
    • 6th Feb 18, 11:18 AM
    Fund (my first) S&S ISA now, or wait a few days? 6th Feb 18 at 11:18 AM
    After reading and asking questions on this board over the past several weeks / months, I finally opted to open / fund a S&S ISA using VLS60.

    Last night I opened an account with iWeb and currently have 20k sitting there waiting for me to buy!

    Given the news I woke up to this morning, should I wait a couple of days or so to see if the prices drop further?

    This is my first investment as currently all my cash is in various 'high' interest accounts / cash ISA and really need to reduce my liquid cash amount with is currently £140k as I realise that it's losing value due to inflation etc.
Page 1
    • Lokolo
    • By Lokolo 6th Feb 18, 11:40 AM
    • 19,936 Posts
    • 15,055 Thanks
    Lokolo
    • #2
    • 6th Feb 18, 11:40 AM
    • #2
    • 6th Feb 18, 11:40 AM
    One of the best investing rules there is.

    "It's not about timing the market, its about time in the market."

    If you try and time the market, you will lose.
    • Malthusian
    • By Malthusian 6th Feb 18, 11:48 AM
    • 3,698 Posts
    • 5,760 Thanks
    Malthusian
    • #3
    • 6th Feb 18, 11:48 AM
    • #3
    • 6th Feb 18, 11:48 AM
    The expected return of waiting a few days is minus a few quid in lost dividends and stockmarket growth.

    Invest £19,998 now and use the other £2 to buy a lottery ticket, maybe the market will fall over the next few days but it won't matter if you win the lottery. It's as good a hedge as any other.
    • EJS_Superted
    • By EJS_Superted 6th Feb 18, 6:55 PM
    • 58 Posts
    • 33 Thanks
    EJS_Superted
    • #4
    • 6th Feb 18, 6:55 PM
    • #4
    • 6th Feb 18, 6:55 PM
    You don't have to invest it all in one go. Why don't you invest some now and keep some back so you wont be annoyed if markets do fall. £5 trading fee is not a lot on £10k.

    Personally I'm not convinced that todays news should be taken too seriously. We've had some very rapid growth recently so a minor correction is perhaps overdue.
    • scoot65
    • By scoot65 6th Feb 18, 7:04 PM
    • 154 Posts
    • 58 Thanks
    scoot65
    • #5
    • 6th Feb 18, 7:04 PM
    • #5
    • 6th Feb 18, 7:04 PM
    Thanks for the replies..... well, I did it! I used the full amount to buy and now my order status is "Active - Your order is currently active and will be executed in line with our Order Handling Policy"

    Just waiting for it to be executed now.......
    • The Reaper
    • By The Reaper 6th Feb 18, 7:13 PM
    • 344 Posts
    • 105 Thanks
    The Reaper
    • #6
    • 6th Feb 18, 7:13 PM
    • #6
    • 6th Feb 18, 7:13 PM

    Last night I opened an account with iWeb and currently have 20k sitting there waiting for me to buy!
    Originally posted by scoot65
    Out of interest, why did you choose iWeb?

    I hold Vanguard funds in Charles Stanley Direct but I recently heard about the vanguardinvestor website. I was considering moving there is it looked like the fees were lower than any other platform.

    • TARDIS
    • By TARDIS 6th Feb 18, 7:49 PM
    • 95 Posts
    • 68 Thanks
    TARDIS
    • #7
    • 6th Feb 18, 7:49 PM
    • #7
    • 6th Feb 18, 7:49 PM
    Out of interest, why did you choose iWeb?

    I hold Vanguard funds in Charles Stanley Direct but I recently heard about the vanguardinvestor website. I was considering moving there is it looked like the fees were lower than any other platform.
    Originally posted by The Reaper
    I'm guessing they chose iWeb due to costs.
    Vanguard platform fee on £20k would be £30 pa.
    iWeb is £25 first year then nothing other than £5 each purchase/sale so cheaper if you don't plan to buy/sell often
    • ossie48
    • By ossie48 6th Feb 18, 7:58 PM
    • 97 Posts
    • 46 Thanks
    ossie48
    • #8
    • 6th Feb 18, 7:58 PM
    • #8
    • 6th Feb 18, 7:58 PM
    After reading and asking questions on this board over the past several weeks / months, I finally opted to open / fund a S&S ISA using VLS60.

    Last night I opened an account with iWeb and currently have 20k sitting there waiting for me to buy!

    Given the news I woke up to this morning, should I wait a couple of days or so to see if the prices drop further?

    This is my first investment as currently all my cash is in various 'high' interest accounts / cash ISA and really need to reduce my liquid cash amount with is currently £140k as I realise that it's losing value due to inflation etc.
    Originally posted by scoot65
    Almost an identical scenario, similar amount scattered over current accounts and even premium bonds. Made the move last week with a VLS60 S&S ISA and am £485 down. When I pushed that button no one on here had a clue what would happen .

    Obviously I'm in it for the long term so water off a ducks back but welcome to the world of Investment I guess

    It was actually more important for me to make the move than not make it at all.
    • scoot65
    • By scoot65 6th Feb 18, 8:41 PM
    • 154 Posts
    • 58 Thanks
    scoot65
    • #9
    • 6th Feb 18, 8:41 PM
    • #9
    • 6th Feb 18, 8:41 PM
    I'm guessing they chose iWeb due to costs.
    Vanguard platform fee on £20k would be £30 pa.
    iWeb is £25 first year then nothing other than £5 each purchase/sale so cheaper if you don't plan to buy/sell often
    Originally posted by TARDIS
    The Reaper>> TARDIS is correct. I'd read on this forum that iWeb are good regarding costs and if an individual does not make many trades in a year. Also iWeb is part of Halifax share trading.
    • scoot65
    • By scoot65 6th Feb 18, 8:48 PM
    • 154 Posts
    • 58 Thanks
    scoot65
    Almost an identical scenario, similar amount scattered over current accounts and even premium bonds. Made the move last week with a VLS60 S&S ISA and am £485 down. When I pushed that button no one on here had a clue what would happen .

    Obviously I'm in it for the long term so water off a ducks back but welcome to the world of Investment I guess

    It was actually more important for me to make the move than not make it at all.
    Originally posted by ossie48
    I'd procrastinated for far too long and decided I had to do something soon.

    I actually opened the account with iWeb yesterday evening and was not aware of the current correction. Like you I'm in it for the long haul and needed to make the jump into investments
    • ValiantSon
    • By ValiantSon 6th Feb 18, 8:54 PM
    • 683 Posts
    • 569 Thanks
    ValiantSon
    Out of interest, why did you choose iWeb?

    I hold Vanguard funds in Charles Stanley Direct but I recently heard about the vanguardinvestor website. I was considering moving there is it looked like the fees were lower than any other platform.
    Originally posted by The Reaper
    Vanguard Investor will charge you 0.15% compared to Charles Stanley at 0.25%, so it may well be worth switching to Vanguard (although keep in mind that Charles Stanley will charge you a £10 exit fee on each fund, so that could get quite expensive, depending on what's in your portfolio). The value of your portfolio is one factor to consider as is how often you trade, but if you are a regular investor with less than c.£40,000 invested then you would probably be best off moving to Vanguard.

    iWeb are worth considering as your investment gets a bit bigger, but keep in mind that a monthly investment will cost £60 per year in trading fees (plus an initial £25 joining fee), so you need to work out what your costs will be on both.
    • scoot65
    • By scoot65 6th Feb 18, 8:55 PM
    • 154 Posts
    • 58 Thanks
    scoot65
    Almost an identical scenario, similar amount scattered over current accounts and even premium bonds. Made the move last week with a VLS60 S&S ISA and am £485 down. When I pushed that button no one on here had a clue what would happen .

    Obviously I'm in it for the long term so water off a ducks back but welcome to the world of Investment I guess

    It was actually more important for me to make the move than not make it at all.
    Originally posted by ossie48
    Yes, almost identical lol!

    I'd procrastinated for far too long and felt that I had to make the jump into investing without wasting any more time......

    I actually opened the iWeb account yesterday evening and was not aware of the currently ongoing correction.
    • thenewcomer
    • By thenewcomer 6th Feb 18, 10:33 PM
    • 48 Posts
    • 6 Thanks
    thenewcomer
    Yes, almost identical lol!

    I'd procrastinated for far too long and felt that I had to make the jump into investing without wasting any more time......

    I actually opened the iWeb account yesterday evening and was not aware of the currently ongoing correction.
    Originally posted by scoot65
    as a novice investor, what did you invest in on iweb? you bought individual shares?

    ps: i am not familiar with iweb, although i did open an account with them sometime back.
    • scoot65
    • By scoot65 6th Feb 18, 11:24 PM
    • 154 Posts
    • 58 Thanks
    scoot65
    as a novice investor, what did you invest in on iweb? you bought individual shares?

    ps: i am not familiar with iweb, although i did open an account with them sometime back.
    Originally posted by thenewcomer
    I bought into the Vanguard LS60 fund
    • jamesperrett
    • By jamesperrett 6th Feb 18, 11:46 PM
    • 746 Posts
    • 394 Thanks
    jamesperrett
    Given the news I woke up to this morning, should I wait a couple of days or so to see if the prices drop further?
    Originally posted by scoot65
    Looks like plenty of other investors are grabbing the chance to invest at a slightly lower price as the US and Australian markets are now up slightly according to Morningstar.
    • lpgm
    • By lpgm 7th Feb 18, 8:15 AM
    • 213 Posts
    • 108 Thanks
    lpgm
    well, I did it! I used the full amount to buy and now my order status is "Active - Your order is currently active and will be executed in line with our Order Handling Policy"

    Just waiting for it to be executed now.......
    Originally posted by scoot65
    Their usual cut-off time for funds is 11:15. So if you did your trade after this time, it probably won't happen until today. And I think with that Vanguard fund, not until 21:00 tonight.

    They also take their time to tell you. I bought a fund yesterday at 10:55 and haven't heard anything yet - but this is normal. UPDATE: I logged in again at 08:15 and the trade was there.
    Last edited by lpgm; 07-02-2018 at 8:25 AM. Reason: I gave an update
    • scoot65
    • By scoot65 7th Feb 18, 9:11 AM
    • 154 Posts
    • 58 Thanks
    scoot65
    Their usual cut-off time for funds is 11:15. So if you did your trade after this time, it probably won't happen until today. And I think with that Vanguard fund, not until 21:00 tonight.

    They also take their time to tell you. I bought a fund yesterday at 10:55 and haven't heard anything yet - but this is normal. UPDATE: I logged in again at 08:15 and the trade was there.
    Originally posted by lpgm
    I was wondering when the trade would show in my account. I bought at 1.45pm yesterday or I'll just wait to see when it shows........
    • lpgm
    • By lpgm 7th Feb 18, 9:19 AM
    • 213 Posts
    • 108 Thanks
    lpgm
    I was wondering when the trade would show in my account. I bought at 1.45pm yesterday or I'll just wait to see when it shows........
    Originally posted by scoot65
    So it looks like Vanguard will get your order today, and do it tonight. And you'll see it in your account tomorrow after 8ish.
    • scoot65
    • By scoot65 7th Feb 18, 6:02 PM
    • 154 Posts
    • 58 Thanks
    scoot65
    I've also been thinking about my S&S ISA plans for the next financial year.

    As well as the newly opened VLS60 S&S ISA
    I have a 30k cash ISA which matures in August and I had planned to do the following....

    After April 6th invest 10k into the VLS60 ISA and then in August open a HSBC GS ISA with the remaining allowance of 10k and also transfer in the 30k cash ISA, investing the 30k in the HSBC GS fund.

    After reading other posts on this site, it looks like I cannot pay into the VLS and open and trade / transfer into a HSBC GS ISA in the same financial year.

    Also am I right in thinking that if I use the full 2018/19 S&S ISA allowance in the VLS60 S&S ISA, I therefore cannot later in the year open a HSBC GS S&S ISA and transfer in from a cash ISA to trade as this would mean I've traded with the VLS ISA and investing the cash in HSBD is also trading?

    So basically, if I want to open a HSBC GS S&S ISA, I'm going to have to wait until August, open it and invest the 2018/19 year's ISA allowance and at the same time transfer in the cash ISA and investing that amount too in the HSBC fund?

    Does that count as one investment or is it two?

    Many thanks.....
    • ValiantSon
    • By ValiantSon 7th Feb 18, 6:17 PM
    • 683 Posts
    • 569 Thanks
    ValiantSon
    I've also been thinking about my S&S ISA plans for the next financial year.

    As well as the newly opened VLS60 S&S ISA
    I have a 30k cash ISA which matures in August and I had planned to do the following....
    Originally posted by scoot65
    I assume that between the cash ISA and the Vanguard S&S ISA you haven't put any more in than £20,000 in this tax year. You can hold both a cash and an S&S ISA, but your total contributions must not exceed £20,000 in the tax year.

    After April 6th invest 10k into the VLS60 ISA and then in August open a HSBC GS ISA with the remaining allowance of 10k and also transfer in the 30k cash ISA, investing the 30k in the HSBC GS fund.

    After reading other posts on this site, it looks like I cannot pay into the VLS and open and trade / transfer into a HSBC GS ISA in the same financial year.
    Originally posted by scoot65
    That's correct. You can only subscribe to one S&S ISA in each financial year.

    Also am I right in thinking that if I use the full 2018/19 S&S ISA allowance in the VLS60 S&S ISA, I therefore cannot later in the year open a HSBC GS S&S ISA and transfer in from a cash ISA to trade as this would mean I've traded with the VLS ISA and investing the cash in HSBD is also trading?
    Originally posted by scoot65
    I don't follow. You can only subscribe to one S&S ISA within any financial year. If you invest money in the Vanguard ISA after 5th April you will not be able to open another ISA with a different provider until 6th April 2019.

    If you want to invest in both VLS and HSBC in the next financial year then you can do so by opening an ISA on a different platform e.g. Cavendish (who will be cheapest) and then investing the money in VLS there, as well as HSBC. You can transfer your cash ISA to this new S&S ISA.

    So basically, if I want to open a HSBC GS S&S ISA, I'm going to have to wait until August, open it and invest the 2018/19 year's ISA allowance and at the same time transfer in the cash ISA and investing that amount too in the HSBC fund?

    Does that count as one investment or is it two?

    Many thanks.....
    Originally posted by scoot65
    You won't be able to open another S&S ISA in August if you have already put money into your Vanguard ISA during the 2018/19 tax year.
    Last edited by ValiantSon; 07-02-2018 at 6:20 PM.
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