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Premium bonds for long term returns are absolutely terrible in respect to a stock index fund.
So if you have £50,000 in premium bonds and left it there for 20 years, the probability of all your collective wins over that period of time amounting to at least £180,000 (£180,000 wins + initial £50,000 initial deposit = £230,000 total) is 60% - 70%. But if you invested that £50,000 into a passive index fund like MSCI…
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How to Calculate Crypto Profit / Loss
Hopefully this is the right forum for my question.I'm trying to establish how to calculate profit and loss on crypto, but it could equally apply to shares.For example, if 10,000 tokens are purchased at varying prices, and then sold, should I calculate the profit or loss based on the total purchase cost regardless of…
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Dollar cheques
Any advice about bank accounts that accept dollar cheques? Just $20 and $35, and would be charged £20 to pay in. I've heard about an internet account somewhere???
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Savings starter rate
If you are under State pension age and all your income was from ISAs, presumably you also have the starter rate available, along with personal allowance? So theoretically you could take any amount from an ISA and still have £18750 in other savings interest before tax was due? i.e. £250k + in non tax wrappered savings? That…
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Mathematician wanted
Mr Bags has £1,000,000 in savings earning 3% net interest every year. At the end of every year he withdraws £60,000 in total to purchase the following years supply of chocolate. He obviously needs to draw down from his capital every year but how long until he has nothing left? (cash that is, not chocolate) Thanks in…
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80% equity at 55 - bad idea?
The question is as the title says. For context, I have a small DB pension coming at age 60, I'm saving into a SIPP to make up my income until state pension age and that is well on track for where I want to be. I also save cash every month and have plenty of cash savings. I'm fortunate enough to have a bit of money…
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Ifa, dfm and financial planners (fp) all in it together!
Writing on behalf of family member who has experienced the above companies. Was a customer for approx 8 years paying top dollar to an ifa by way of dfm and fp for ultimately a service we could have done elsewhere cheaper and better performance (in hindsight). Had a sipp that was invested with Zurich which was then…
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Pension lump sum
Hi, I get my NHS pension lump sum soon and am considering putting some into an investment ISA however I know nothing about these. I don't think I would know how to manage this myself so considering a managed account. I will also look at putting some into a high interest account. Does anybody have any advice to offer?
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Moving abroad (currently using AJBell)
Hi everyone I am planning to move abroad (I'm not a British Citizen, in case that makes any difference). I've been using AJ bell ISA as my pension/investment pot for the last few years, but I've realised that, once I'll move abroad, I won't be able to contribute in any way to my savings. So, I was thinking of moving my ISA…
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Tesco Bank Savings application timing out
Tried a few times over the weekend to open a new Tesco Bank Savings Account, but halfway through the process it times out and shuts down. Tried calling them on Friday but the line just cut off. Used two different browsers with same end result. Anyone had any success with them in last couple of days?
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Trust Advice
I am trustee for disabled daughter. Financial advisor has set up two investments relating to this. Owing to fees, poor growth and tbh mainly poor communications I would really like to drop the advisor and manage things myself. I have no idea how to do this and I think I have to keep the monies within the trust (else it…
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HSBC Rate notification wrong
My children have both received this letter tell me I’m not going mad but it is wrong. You get the 5% up to £3000 and the 1.5/1.75 after £3000 https://www.hsbc.co.uk/savings/products/mysavings/
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Plum cash ISA
The rate is 5.05% made up of 3.54% + 1.01% 12 month bonus. However the 1.91% is lost if you "transfer in". I would be transferring in from another cash ISA. Is there a way of depositing the principal amount without losing the !.91% bonus ?
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Pension adding more than £2880 non earner
Hi I am trying to find a SIPP that will allow me to pay more than £2880 in annually and pay a tax charge.I can’t use an ISA due to UC savings limits. This is the only way I can save for my retirement. Thanks
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Csh2 in Iweb
I have some CSH2 in a general acct in Iweb. Will iweb provide an eoy tax statement saying how much of the gain is income and how much is capital gains....?
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CSH2 query
I bought some CSH2 on Friday (Lyxor Smart Overnight Return Money market fund). I looked at the portal yesterday and saw that I had made a small loss. And indeed, in Mon 24th the fund did close lower than it opened (see below). My "buy" price on 21st Feb was 117,087. I'm not too bothered but am just interested, for my…
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Share Buyback
Do share buybacks increase a company's value, it doesn't sound logical to me.If they have cash reserves, then those reserves will be lower, or it could put them more in debt. Money doesn't grow on trees? Vistry Group PLC has executed a share buyback transaction, purchasing 49,100 of its Ordinary 50p Shares as part of its…
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NSI Barbaric security system
I have not used premium bond account for a while. Needed a new password. Gave them my account number. Understandably, I had to go through security questions. These were not questions I had ever encountered before. I could not seem to get any of them right, what is the name of eldest child, grandmothers name. ALL WRONG...8…
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Savings in late teens
Hi. I had bonds for my daughter. She is very irresponsible with money. It was for a deposit for house, uni etc. I hadn’t told her about it. When she turned 16, they automatically took my name off and started corresponding with her. I really financially struggled to make this money, and I’m sure the capital is also getting…
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Raisin Audit
I have had a Raisin account for a few months, few days ago they have asked for a copy of ID - DL or passport. Is this legit? I proved who I was when I joined. Why are they wanting me to do so again.
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