Income Investor - Just Starting Out

mbbetter

Thrugelmir wrote: »

Many people struggle to find well paid employment at this stage of life.

So retirement (ceased to work) is forced not a choice.

I appreciate your insight, but many people struggle to find well paid employment at every stage of life, so what's your point? Forced unemployment may occur at 22 after a very expensive and challenging degree... It could occur at 40 after a successful stint in xxxxx industry.

"Retirement (ceased to work)"....My point was - I don't think many people today think they can "retire" at 55 - in the old sense of the word - as in sit back an count their pension.

Thread was started according to my situation, and I am more fortunate (and also worse off) than many other mse'rs (not to mention other people on the planet).

Currently with a plan for the worst if I make it to 55 and I get £6.08 an hour I will be pretty happy. If its a fun job that contributes to people's lives and society I'll be even happier. If I can take 10 weeks off a year I'll be ecstatic.

Back to the topic. If I can invest £100 and it return £5 in dividends I'll also be ecstatic! Income investing has been a real eye opener.

mbbetter

markwilkinson wrote: »

Thanks for starting this thread OP - very interesting reading. I've recently started thinking about doing something similar myself, so this has been helpful and I will continue to read new posts on this thread.

Thanks for taking the time to post, appreciated.

Hope this thread helps out. There are many friendly replies and great advice - if it helps others I'm super glad I started the topic

I'm new to all this so still pretty daunting - learned about stamp duty today - surely school boy stuff! Also need to learn, what the fees are if I need to transfer my account from iii to another provider at a later date. As the isa portfolio grows could get costly?

markwilkinson

Ive been looking at Self trade S&S isa this evening but the costs are putting me off at present. I only have small amounts to invest in dividend shares, experienced investors would argue that even paying the dealing charges make it a pointless exercise.... However, I still think its a worthwhile exercise, and, if nothing else, a bit of fun. You seem further up the learning curve than I, so I will continue to the read the thread.

gadgetmind

Thrugelmir wrote: »

Retiring at 55 is a dream for most people.

You can dream, you can give up, or you can plan. The latter is by no means the easiest option but it is the most effective.

IronWolf

55 is far too old for me. Im hoping to retire at 45

No harm in setting ambitious goals in life

gadgetmind

markwilkinson wrote: »

I only have small amounts to invest in dividend shares, experienced investors would argue that even paying the dealing charges make it a pointless exercise....

Not pointless if it is intended to be a learning process, but it's *very* hard to get a decent return unless you either invest for the long term, in (hopefully!) high growth companies, or ideally both.

You might be better drip-feeding into funds or trackers (Vanguard LifeStrategy?) until your pot has grown.

gadgetmind

mbbetter wrote: »

learned about stamp duty today - surely school boy stuff!

Not really, not if you haven't met it before.

I was in the pub a while back, and some people I was with were rattling on about there needing to be a small tax on every transaction in shares to sort out pubic finances. I said, "What, like the current 0.5% stand duty?" and they assured me that if there was already such a tax then the red top papers wouldn't be now suggesting that we needed one.

Sheesh!

BTW, quite a few Investment Trusts and REITs are based off-shore, often in the channel islands, so there is no stamp duty when buying these. Many of the ITs also have low-cost ways of regularly buying into them.

For smaller sums and drip-feeding, these collective investments are *very* worthy of consideration.

CashStrappedTeen89

Subscribed, at 22 and just getting back into shares again this seems an interesting read.

gadgetmind

CashStrappedTeen89 wrote: »

Subscribed, at 22 and just getting back into shares again this seems an interesting read.

Drat, now I'm going to have to read it to see if there is anything dodgy I need to warn you about!

CashStrappedTeen89

Very Funny lol