How to invest GBP 350k at age 43 (no debt)?

Indyjohn

I am new to this forum. I am a non-resident British, so is not currently paying taxes in England. but paying taxes in South Korea where I am working at this moment.

I have no debts. I already paid my mortgage off. I saved around GBP 370k by hard work over last 21 years. I am 43 years old with 2 small children and a non-working spouse (housewife). At the moment, my savings are not earning any interest at all. Due to living away from home & earning well, I didn't bother about it / didn't have time to wisely invest (my excuse!) - or just didn't want to think about it!!!
As I am planning to return to home within a year and it may not be easy to get a well paying job back home, I am thinking how to maximize my income from savings
I would like to put 20k in an emergency fund (e.g. Santander 1-2-3 earning 3% interest).
I didn't contribute to pensions / SIPP while working overseas. I may have only around 30k lying with old pension funds with my previous employers in England.
I have never invested in stocks and was avoidng risks & thereby losing real value of my money over the years.
For remaining GBP 350k, I would like to split between stocks, ISAs, SIPP (with some varying risks thereby earning income from part of savings to top up monthly income and part to lock for retirement).
I am looking for ideas plus the best platform to start dealing with shares (such as IWeb or Interactive Investor etc.). Or, whether investing in mutual fund would be a good idea?
I will highly appreciate any advice or any guidance to start my investment.
Or, do you need to speak to a financial adviser?
It is difficult as I am away from home and not likely to visit England until Summer 2016.
Thanks,
John

atush

You may have to wait until your return to open accts like pensions, S&Sisas etc.

But int he ean time you can look to large international banks like HSBC and open a local acct, then opne an investment acct and UK acct that are linked. Then invest and deposit cash that way.

Once you get back, open Jisas for the children, and a S&S isa for you ad your OH, plus a pension.

Until you get a job, you can ut 2880 a year for you and the mrs into a pension, and it gets grossed up to 3600 with tax relief. Then once you are working, you can put in up to yoru full income, or 40K, whichever is lower. If you pay basic rate tax, 100 into a pension costs you only 80. If HRT, 100 into your pension costs you only 60.

Linton

For that amount of money and given your lack of experience of investing I suggest you consult an IFA. I know nothing about ex-pat advisors but the lack of regulation and the horror stories one hears from time to time would be a serious concern.

How easy it would be to find a UK IFA who has the knowledge to deal with your particular circumstances I dont know. Perhaps that may not matter if you plan to return to the UK permanently in the not too distant future.

richyg

If you get the urge to invest in Generali Vision I would suggest a thorough search of internet posts both here and on the motley fool before you do.

Just saying.

MrBeans

Indyjohn wrote: »

I have never invested in stocks and was avoidng risks & thereby losing real value of my money over the years.
For remaining GBP 350k, I would like to split between stocks, ISAs, SIPP (with some varying risks thereby earning income from part of savings to top up monthly income and part to lock for retirement).

Investing directly in individual company shares may not be the right thing - it's a bit of a lottery - specially if you're new to investing.

Within ISAs and SIPPs maybe look at large investment trusts (eg Foreign and Colonial) and index trackers (eg FTSE all share trackers or worldwide all share trackers)?

With platforms (eg Hargreaves Lansdown) you can also have a account which is not an ISA or SIPP in which you can also hold unit trusts and investment trusts.

A consultation with an IFA may be worth it to set out your investing landscape. If you then invest via a platform that is not an IFA-only platform, you could then in future years do it yourself and not pay an IFA for evermore if you felt confident enough.

There is always the risk of your investments going down. In fact, they almost certainly will at some point be worth less than they were initially. The thing is not to check the value of long term investments every day. Buy and hold and don't keep looking.

Pincher

http://www.hsbc.co.kr/1/PA_ES_Content_Mgmt/content/korea_51/home/pdf/HS1201_HSBC_A4_Eng.pdf


HSBC Korea seems to be shutting down.


Otherwise, ideal for transferring your loot back to the UK.




If you want to know about investing. This course is good stuff, but it's in Scotland. Lowest cost of living for similar courses.


http://www.stir.ac.uk/management/modules/postgraduate/investment-analysis/

atush

Surprised they are shutting down. AS I heard they were concentrating on Asia for the future?

darkidoe

atush wrote: »

Surprised they are shutting down. AS I heard they were concentrating on Asia for the future?

Well well. When they say Asia, they must mean China.

atush

I thought they meant India and Korea and hong kong and australia too

Greg77

why not investing yourself in the stock market or Forex? The return can be incredible, from 30% up!
first thing to do is actually splitting your portfolio so that you have some cash balancing the some stocks in your pot, that's the first thing.. it will allow you to pick up any bearish or bullish market on a daily basis.
Cheers

Eco_Miser

Greg77 wrote: »

why not investing yourself in the stock market or Forex? The return can be incredible, from 30% up!

To 100% down!