Edinburgher gets cracking!

misscousinitt

Hope you continue to feel better.

Well done on keeping finances simple.

MCI

Tilly_MFW_in_6_YRS

Hi Mr are, sorry to hear about your neck - no fun being in pain.

My DD is quite interested in a S&S ISA (I'm sure she is older than me) so I need to investigate/research just to be able to chat to her about it :rotfl:

Good luck tomorrow.

Tilly x

edinburgher

How old is your DD? That's impressive!

There are plenty of great (free) resources for people looking to dip their toe into the world of investing. The Monevator blog is a great source of information

If she's a bit younger, she can afford to be adventurous (as her possible investing timeline is longer). That said, my thoughts would be:

• Only invest money that you can afford to lose
• Know how much you can invest, for how long and what your attitude is to risk is (plenty of free 'calculators' which are useful if you are honest when completing them)
• Have a plan - i.e. 'I'm investing for 10 years and the proceeds will go towards a mortgage OP'
• Keep it simple - don't be distracted by flashy advertising or get hung up on funds just because they have famous managers. Also, I personally choose to avoid funds that are too clever for their own good (i.e. anything heavily invested in derivatives etc.)
• Minimise costs - if you're not careful, it can become death by a thousand pin pricks!

Personally, I believe that passive investing/long term index tracking is the only game in town, but each to their own

Smarter Investing: Simpler Decisions for Better Results (Tim Hale) or The Intelligent Investor (Collins Business Essentials) (Benjamin Graham) are good books with different takes on investing

Tilly_MFW_in_6_YRS

Thanks Mr E, much appreciated. DD is heading for 17 - a bright young lady with tenacity and determination. She was telling me about her dreams for her future and it was amazing to hear her. The journey from parent to trusted advisor to 'friend' is a difficult one to travel but I have to say I'm loving watching her grow up:):)

Best wishes Tilly x

PositiveBalance

Hi Ed - sorry to hear about the neck.

And wow to all the investment talk. I think I have some new additions to my reading list...

edinburgher

Broken boiler - second night running with no hot water or heating

Fix expected tomorrow morning, but with a c. £300 bill.

BookWorm

Sorry to hear that Ed That's cruddy

southerndave

Ouch that boiler bill must hurt! I don't miss not having gas I have to say, but unexpected bills are always horrible. (Was going to say a pain in the neck....!!)

edinburgher

Yay - final cost only £90 (2 hours of labour).

Guy was a total muppet who was obviously out of his depth (I heard him phone people because he was 'stuck' on at least 3 occasions).

After diagnosing the fault as a 'gubbed' £135 gas valve, it turned out that it was another valve that had soot on it. 5 minute scrape with a screwdriver and it was done.

He then tried to start angling for a central heating flush, pointing out the temperature difference on a radiator that had been turned on 3 minutes before. Of course there's a difference - radiators don't heat instantly :rotfl:

southerndave

Good to hear that wasn't so bad. Worrying to hear about the expertise....