The march to financial freedom

liltdiddylilt

Hey Ali

Just to allay fears about the way IFA's charge now. We all have to provide a key facts and terms of business up front which lay out our standard 'fees' and the likely annual percentages we take from your investments/pensions in order for actively overseeing their growth and providing an annual review that warrants such fees.

So it is more of a tell you upfront, than a charge upfront. But you can realistically know what the charges are before you agree to anything which is only fair and right. If he doesn't lay out the expected charges, percentages he might look to take for the initial business of moving the pension, then annually for review and for fund switching/rejigging things, then he is not acting within strict constraints set by the FCA and you could take him to the cleaners.

Broggers is very right in saying you ought to ask him about the investing side of things though, as he is the one in the know. But it really depends on what you are looking to invest. Peaty manages her own investments admirably and is seeing great growth maybe she can give you some tips! In reality though, if you are investing less than £15,240 for the year then sad as it is to say an ISA would best suit your investment needs as; as our lovely Martin keeps banging on about, it is tax free. You can pick and choose investments and funds in an ISA from a very broad spectrum if you go to a platform such as FundsNetwork or Old Mutual Wealth ah if I had the money...

So I say hope you had a lovely relaxing day and you run around like a headless chicken. You're as bad as me woman am off to see the doc tomorrow hopefully if I can get in. Wish me luck. xxx

liltdiddylilt

P.S good idea to hold off until way after the elections. The pound is about to take a nosedive. Which reminds me to buy my american keepsake jewellery from my Pop now! :eek:

Ali-OK

Hope you get something for those migraines Lilt - the Propranolol I have works as an anti-migraine pill too, though I'm still getting the odd one, but nowhere near as bad effects as you've been having.

Thanks for all the investing and IFA info, very helpful. I thought about doing it within the ISA wrapper, probably best I find out how to though - this is what I don't understand . People to seem to 'buy' direct and 'wrap it' or do I go to a standard bank/building society offering that do it for me? Stuck already :rotfl::rotfl:

Closest I've done previously is buy some work shares..that I then had to sell back to them due to a requirement of the MBO. Made some money though :-)

liltdiddylilt

Banks and building societies are tied to certain fund providers only. The supermarket 'platforms' are the only ones who have no ties and will provide funds from everyone and anyone that is why they are also the huge pension providers these days. The platforms are the wrappers and there is no need to go direct then wrap it, you can just buy the funds through the platforms.

My dad bought work shares at £5ish a piece. £200 worth every month he worked there. When the share save scheme came to an end, he sold each one for over £15 a piece. It is great if you can do it!!

Thanks for the propanalol idea. I am going to broach the subject then ask about zolmitriptan as that knocked me for 6 for 2 hours but I woke up feeling perfect every time. Very strong though and lord knows what it would do in the mix of the other tablets I take in a handful at bedtime! but that is what docs are for eh?! xx

AlexLK

Ali-OK wrote: »

Am hoping so, this will tell us what the nerve endings are up to. I'm going to be lightly electrocuted :eek:

That doesn't sound too nice, hope you get some answers though.

Ali-OK wrote: »

To you maybe, to most others and me that's a good sum to put in for 15-20 years and get a decent return on. Plus if I can set up something that is a regular investment amount (akin to a reg saver) it'll all build over time.

Don't think the FTSE 100 is the place to start though - reading it's over-inflated and elections and new governments for that matter, do funny things. So aim is 6-9 months away for starting.

Failing that, it's continue with ISA-land and maybe the Spanish Bank's 1-2-3 account. I do understand those

Unfortunately, I've been incapable of thinking as long term as 15-20 years in the future for a long time. Only in the past few days have I been able to think a few years into the future seriously without wondering if I'll still be here or not.

I doubt I'll start investing before the end of the year either as it's going to take me a while to begin to understand how it all works. I imagine my parents would lose patience trying to explain the basics to me and Mrs. K. wouldn't be too pleased if I started paying for advice. My thoughts are along the lines of if I lose all the £5,000-10,000 (depending on the year end savings total), it wouldn't be the end of the world. However, it would be nice to see a return.

Having never even had so much as an ISA, this is all very new.

Ali-OK

Are the supermarket platforms FundNetwork etc?

Patience to research what to invest in, followed by indecisiveness once I've got that far. They're my hurdles. Oh and terminology it seems too :rotfl:

JamesD started a thread in response to someone on Edinburgher's MFW thread ... that looked interesting, but I lost the plot within the first paragraph :rotfl:

Think we're in a similar starting position Alex.

AlexLK

Ali-OK wrote: »

Are the supermarket platforms FundNetwork etc?

Patience to research what to invest in, followed by indecisiveness once I've got that far. They're my hurdles. Oh and terminology it seems too :rotfl:

JamesD started a thread in response to someone on Edinburgher's MFW thread ... that looked interesting, but I lost the plot within the first paragraph :rotfl:

Think we're in a similar starting position Alex.

I'm terrible with terminology and abbreviations, investment seems to be full of both.

You aren't the only one who lost the plot within the first paragraph of that post :rotfl:

I suppose it wouldn't do me any harm to try to talk to my parents about something they are interested in when we're in Spain. Though they'll probably be surprised, I don't usually speak to them unless spoken to. Just thinking about it is making me feel ill though, so perhaps I should find a book or two to read instead or write a letter.

in_need_of_direction

Ali, like you I'd love to figure out investments, etc but for you, for now, would you just stick spare funds in a nice safe isa and still that multi functioning brain of yours for two minutes. Take a deep breath and commit to simplifying until your health gets sorted. Best wishes for today.

Hopefully you're not at the same hospital as DS where dd was able to observe the antics of three cute wee mice while killing time with a cup of tea in the canteen.

beanielou

Positive vibes for today,

Ali-OK

Morning and thanks guys

INOD I will have to go simple with saving for the rest of my life if I don't figure out investing :rotfl:. I also think it's part of distracting myself from Mum's health situation.

Mice could be entertaining if there's a bit of a wait :rotfl: but am in a new building several floors up. Not seen any on my last couple of visits, shall look harder today :rotfl:

Was out of here at 7.35am by taking DS to school. Meeting had and DS shall be left alone by Languages teacher, incidentally she didn't follow procedure for giving him lunchtime detention anyway, so he can't be given an after-school one. He's guaranteed to be on his minibus tonight, so that has allayed that concern.

They also seem open and understanding in removing him from future Languages lessons - options already put on the table and will be sorted properly today all being well.

Attendance update and he's not lost his early finish Friday, seems teacher was rather gun-ho in announcing and figures weren't correct anyway. So hopefully that shall be confirmed during the week.

Just English to go then really, which will be investigated. At this stage, pleased with responses and we'll see how things pan out.

Going to tie up some work loose ends and be heading off to Londinium in an hour or so. Least another lovely sunny day to accompany me.

Have a good day all and catch up later