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Turn 150k into 1 million
I have 150k savings. My friend gets 5k annual return on his savings of similar amount. He said he invests but I don’t know how or where to start.
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Inheritance...what to do with it?
Hello I have inherited some money and I don't know what to do with it. Some has just been put in our ISA's, savings and kids accounts but I know I need to invest it somehow but not sure where to start...it's scary! I went to one Financial Advisor and their rates seem high 3% initial and 0.85% - 1%. Or do I get investment…
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Managing your PSA
How do people manage their PSA to make sure they don't exceed it? I will be a higher rate tax payer with my new salary starting this month so my PSA is £500. I could possibly salary sacrifice more towards my pension however I've only a few days left of the window to change the pension contribution and I'm unsure of a few…
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Dear all, I am looking to save for retirement. If a fund or ETF is domiciled in Ireland or Luxembourg, does this mean you need to pay the tax in those countries even if you're a UK resident? If you are buying ownership of a fund(company )in Luxembourg and so if you make gains from that fund/company, then you should pay the…
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Gearing and IT's
In the past year I have acquired 3 ITs in my portfolio. Bankers, Monks and SMIT. I'm fairly new to ITs. I do understand the basic concept of gearing and know that OEICs can't do this When I analyse these 3 on my platform it states that the "gross gearing" for each of these ITs is 98%, 105% and 108% respectively. Can…
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1.8% interest accounts
There used to be lots of 1.7 or 1.8% savings accounts advertised. Now there's none, from what I can see. The highest interest rate is 1.5%. When will the higher rate accounts be advertised again, or maybe you know some that are available now?
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Vanguard lifestrategy 80% acc dividend
https://www.hl.co.uk/funds/fund-discounts,-prices--and--factsheets/search-results/v/vanguard-lifestrategy-80-equity-accumulation I thought the whole point of an accumulation fund was that dividends were not paid. However on the link above it states that VLS 80% ACC has an ex dividend date of 3 April payable on 31st May. Do…
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Costs of financial help
To cut a long story short my mum is due to inherit a decent amount of money sometime in the near future (waiting for probate). There are 2 estates, her brother's and my dad's. She is in a care home and I am her LPA for property and financial affairs. I need to ensure that along with her income she has enough money to pay…
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higher rate rtax
seen various posts on here regarding higher rate tax payers should prioritise pension payments - why is this? i currently pay 5% of my salary per month in my pension with employer contributing 4% - i know there is a minimum they have to contribute, but is there a maximum? should i look to increase my 5% then?
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Buy/Sell units in Vanguard
When you issue a buy or sell units on Vanguard's platform, do you specify the amount of money or the number of units? For instance, if you have 500 units, are you able to say you want to sell 200 units, or do you have to specify the amount in ££'s you want to sell.
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What type of accounts do people use to hold their Emergency Funds?
Hey all, Just wondering what the general view is on this. I’m currently reviewing my 2019 savings/expenditure with a plan to set out my 2020 targets, and noticed of all my accounts, my 6 month emergency fund lost value. It earned 1.5%(now dropping to 1.35%), while U.K. inflation for 2019 was 1.8%. I’m now thinking if I…
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Where best to save a house deposit until needed?
Hello, My father has said that he will give us £20k towards a family offset mortgage for our first house. However, my husband went self employed 3 months ago so no one will consider giving us a mortgage right now. Where is the best place to put that money for the next 1 to 2 years until we can use it. Also, I have a help…
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Sanity check for a long-term leveraged investment strategy
TL;DR? ---> Jump to "The Strategy" at the end of this post. Backgrounds I'm young, have a stable source of income, and the income is highly disposable. I've taken advantage of pension and ISAs, and I still have some disposable income left to invest outside the tax wrappers. Compared to my income and savings in ISA and…
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Tax on forex profits via broker/3rd party?
Hi everyone Plenty of info around if you are trading yourself, but not if you are using a company (that takes commission) to trade forex for you. My situation is this: I am investing a lump sum with a company that is trading forex for me. They take a % commission on any profits. Does anyone know what kind of tax rate I…
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Investing my childs inheritance
Hi Apologies if there are similar threads with the same sort of question , I cant seem to find any. My 7 year old son inherited 50k from his grandma recently and we want to put it away somewhere with no risk until he is 18. I have looked at the best child savings accounts but most seem to have a fairly low maximum initial…
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Is putting money into parents house a worthwhile investment?
Hi there, any help or recommended resources to seek help from would be much appreciated! My (single) mum downsized a few years ago and was able to become mortgage free in the process. Catch was, she moved 3 hours away from family and as she approaches the age of 65 and retirement she (and we!) would like her closer to…
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Time to actually sort my money out properly...
Dear All - I think its about time as its a NEW Year to get clever with my money. At the moment, all I seem to do is put monthly savings (£300) into a First Direct Regular Savings Pot as that was the most it would allow. (supposed to get 5% this month for my yearly interest). The rest simply sits in my current account. I am…
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Compound interest
Hi everyone , I would appreciate any advice/guidance from you wise people before I arranged to go see a financial advisor regarding my question. I wish I had done it sooner and been more switched on regarding finances but better late than never (just entered into my 30’s :eek:). I am trying to read/learn ways to make my…
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Three and a Half per cent War Bonds
Hello, My wife and I have been having a bit of a New Year clear out, whilst doing this we came across some war bonds. These were in my wifes grans name now deceased, as are her parents, so there is a line of probate. I looked at this article…
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Child Trust Fund vs Junior ISA
Hi all. My nearly 10 year old has a child trust fund account. It started with the government's cheque for £250, and now, about 9 years after opening it's up to £394. I'm trying to work out how much interest it's earning (on average) in that account. The CTF is a stocks and shares one, so I know there's no guarantees,…
