Recommend reading material for investment

misterfish

We have always been careful and somewhat frugal and are now in the position of being loan free with a reasonable amount of savings.

Following the recent death of my mother I will be inheriting well over £100K in the very near future and would like to invest and manage these funds. However nearly all the searches I make seem to assume a reasonabe knowledge of finance and its associated jargon and I haven't found anything that explains simply 'investing in the UK'. Any reading suggestions would be appreciated.

Misterfish

TCA

Try Tim Hale's book "Smarter Investing" or the Monevator website:

http://monevator.com

Archi_Bald

A whole bunch collected by people on the forum: https://forums.moneysavingexpert.com/discussion/5043692

Daniel_Elkington

This may be a dumb question but;

If you aren't feeling confident in your own competence yet, why not use an IFA?

clarky_cat

I inherited a similar amount but went with an IFA as I also didn't feel I had enough knowledge currently to do it myself. The IFA invested £65k into various funds which are doing pretty well do date, the 2.5% charge has paid for itself so far. They'll discuss with you whether you want to invest cautiously or at a higher risk and what kind of returns to expect.

I also put some into a Santander 123 acc and Club Lloyds.

trickydicky14

clarky_cat wrote: »

I inherited a similar amount but went with an IFA as I also didn't feel I had enough knowledge currently to do it myself. The IFA invested £65k into various funds which are doing pretty well do date, the 2.5% charge has paid for itself so far. They'll discuss with you whether you want to invest cautiously or at a higher risk and what kind of returns to expect.




Being curious or you may say nosey could you tell me what your yearly ongoing charges are and what your IFA gives you for your money, it would help to give me a bit of a benchmark as I could be in a similar situation.


Comments appreciated

Archi_Bald

Daniel_Elkington wrote: »

This may be a dumb question but;

If you aren't feeling confident in your own competence yet, why not use an IFA?

What a surprise to hear an IFA recommend people use an IFA.

At least have the decency to declare your interests. The respected IFAs on the forum all do.

Herbalus

I don't think that considering an IFA is a particularly bad idea for some people (you can always decide it's not for you), but it is quite insightful to know that Mr E above is an IFA.

He's also the first person I've seen on these forums to have a picture of his own face beneath his name!

clarky_cat

Mine are 0.75% but you have your fund charges on top of that. I can't remember the exact figure but I think in total in comes to about 1.6%. There's probably cheaper ones out there but I went with a recommendation from someone who'd be using this particular IFA for a number of years.

clarky_cat

"Being curious or you may say nosey could you tell me what your yearly ongoing charges are and what your IFA gives you for your money,"


Mine are 0.75% but you have your fund charges on top of that. I can't remember the exact figure but I think in total in comes to about 1.6%. There's probably cheaper ones out there but I went with a recommendation from someone who'd be using this particular IFA for a number of years.

What I'm getting is investments in what they consider the best funds for me. There are 1000's of them so I didn't feel competent enough to best chose my own.

gadgetmind

Archi_Bald wrote: »

At least have the decency to declare your interests.

Well, that mugshot is a bit of a give away!