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Pension pot or Bond for my £40,000 ?
Options
Comments
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I have already lost money on my Endowment mortgage and Unit Trust investments over the years.
How have you lost money?
Endowments had issues because of high target growth rates that failed to be achieved. However, most actually outperformed cash savings. Unit Trusts will be volatile and have periods of loss in the short term but over time, you average out the ups and downs and that average historically beats cash. There have been no periods in the last 20 years where you should be in a loss position if you waited 1-3 years after the loss occurred. (using mainstream investments)I have been looking at the recommended brokers on this site and and if I am being honest I need to use my money to buy an isa that the broker will manage and hopefully give me good return.I cannot manage one myself as I have no idea about shares.Is this possible ?
This site covers the DIY options. They wont manage anything for you. They require you to pick investments and control them. If you need help you use an IFA. The IFA will provide the advice and administration for you. All other options should be disregarded.You could do a tracker fund which tracks say the FTSE 100.
Which would be poor quality investing and typically above the risk profile of the average UK investor. Let alone someone who is new to investing.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
Just been looking on th Bestinvest site and they have something called Multi Asset Portfolios which they will manage,is one of these an option or am i way off the mark.As a complete novice it seems I can pick the portfolio and they will manage it for me.
cslogg0 -
sorry to hear of the redundancy. That's tough.:(
Do you have a mortgage?
Are you sure that you will not require any cash buffer in order to prevent some future event?0 -
Mortgage ends in June at which time I will get around £8k from mortgage endowment policy.Of course I hope to get another job as well.
cslogg0 -
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It strikes me that you should park your cash and not commit it until after you have started your new job. Then look at all your options then.0
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Cygnus_Alpha wrote: »Why don't you come clean and tell him how much that would cost?
Rude and not necessary. Glad I didn't rec a past post of yours i thought about.
There is a reason to ask such questions, but generally from the Op. D and others who are in the industry will say if they think quoted charges are too high for the amt concerned (as will some of us punters). Why not wait until such figures are quoted?
IFAs who answer the odd question here are not allowed to punt for business, so they owe you no price quote. Or perhaps you work for free?0 -
Rude and not necessary. Glad I didn't rec a past post of yours i thought about.
There is a reason to ask such questions, but generally from the Op. D and others who are in the industry will say if they think quoted charges are too high for the amt concerned (as will some of us punters). Why not wait until such figures are quoted?
IFAs who answer the odd question here are not allowed to punt for business, so they owe you no price quote. Or perhaps you work for free?
Why is that rude and not necessary? IFAs cost money. Why are you so offended when that is pointed out? If someone is thinking about topping up their ISA with the S&S only element of just over £5,000 then it scarcely makes sense for them to pay to see an IFA. Or perhaps you want to con the OP into doing something that is clearly uneconomic for him to do?
And what is this "they owe you no price quote" business. I was replying to a poster who replied to my post. It's a forum.
I think you need to calm down and think before you post your bile.0 -
Anyone have any views on the option I mentioned in post 13 with Bestinvest
cslogg0 -
Anyone have any views on the option I mentioned in post 13 with Bestinvest
cslogg
They are fund of funds so yes will do the job you are looking for. However their ongoing charges reflect this so charges are higher but if you don't know what you are doing then could be an option.
There are other fund of funds though, including tracker fund of funds which could be considered. Merlin portfolio funds and Vanguard Life Strategy funds are some possibilities.
You would really need to weigh up what is best for you.0
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