Hope is not an Effective Financial Strategy

katep23

shangaijimmy wrote: »

Kate. I'm pleased i have inspired! We're all in this together. One little point in case you haven't signed up yet though...If i had £100 a month to throw at it i would have gone with Vanguard life strategy. I will have £100 a month to put in round about April next year and my plan is to switch across then (although if evestor does well then i may wobble!).

I liked the evestor website as the choices were simple so decided to go with that but might see if OH is up for choosing the Vanguard option for the same monthly amount and see how they compare

shangaijimmy

Kate - fellow Evestor user (now i know 2 of us), i know what you mean. So far i've been impressed with Evestor so far. Transfer was quick, the webchat service was good when i needed it and i may well change my mind in 12 months. We'll have to see how much money the fund makes (so far its £10.57 on £477 investment after 12 days),

36p TT this morning following a great night sleep. So refreshed and raring to go today. I always treat these type of days as a day off in work! And as a bonus i usually only finish at 8.15 on a Weds but tonight i'll be home for 6.30!

Right, off for breakfast before heading for the train.

greent

Loving the NW update

shangaijimmy

Working this evening so have a day-time off and am enjoying just pottering, doing generally nothing! After school run i had a lovely crisp dog walk. I've also got through 4 piles of washing with 3 blowing outside (most will be dry as in the sun as well), and all washed with homemade powder and softener!

I've also made some money shuffles with payments out of funding circle (its not really working for me, but was definitely worth trying), and forwarded onto S&S Isa. I've turned off automatic re investment on funding circle and have decided to just withdraw the cash every week to redirect. I haven't lost any money and it will make more than a savings account but i'm happy investing in S&S instead.

Now off for a cup of tea outside (one of lifes simple pleasure alongside eating fish and chips outside), and watch DD on trampoline.

shangaijimmy

I sit down outside...the sun goes in and a big wind kicks up!

cardboard_chewer

Hi shangaijimmy, what factors led to you withdrawing money from Funding Circle?
I've been invested for 3 years now. At first the returns were very good at around 10% but they quickly fell to 5.5% after a couple of years. This was quite alarming and I considered selling up the loans to get my money back but I'm now back up to 5.8% returns.
Reading around defaults for 5 year loans, the default rate starts out low then rises up to 2 years or so and then falls again because the remaining loans will mostly be the 'good' loans that continue to pay. Plus the recoveries from the defaulted loans will add to returns in the later years.

shangaijimmy

I've had it for all but 2years now. Its currently going at 6.2% alledgedly. I've got 4 defaulted loans at the minute but all have had at least 4 recovery payments. Overall it just doesn't work for me, and i cant quite explain why specifically. I'm just not motivated to keep adding money into it for more loans. So instead as money clears into the account rather than re buying i've just started to withdrawn and then invest in my S&S Isa. I think the S&S is more my thing.

That's as best as i can explain!

Suffolk_lass

Don't forget you can buy VLS through your Evestor platform, and we do that in DH's Charles Stanley account, with £50 going to each of the three starter funds in DH's ISA and the remaining £110 earmarked to cover all fees (greater when I buy shares) and charges. At our age, we are in VLS 60 but should probably be in VLS 40 - I presume you will aim for the 80 fund at your age?

shangaijimmy

We have bought some Vanguard. Overall we have a 80% equities portfolio split, in it for the long term.

73p TT this morning. Major news for the week is that this is the 3rd shop in our monthly task of only doing 3 shops. So far the other 2 have been within the budget allocated for a 4 week split, so hopefully we'll have £80 unspent from food budget after today. I'll hold a bit of cash back for any extra milk, bread or disasters, but then the plan is £25 to mortgage and £25 to Isa.

try_harder

Well done on the food budget long may it continue