are regular savers worth it?

stringer_bell

I'm fortunate enough to have considerable amount in cash. I won't disclose how much but it's a lot for a 31 year old

I'm in the process of adding to investments outside the isa wrapper and will of course top up my isa in april the full amount

That still leaves a heck of a lot of money in cash which is in nsandi savings account so I thought why not open up a few ref savers

Opened up a lloyds one and I will of course get a tab one. I have a business act with hsbc so not sure I'd be eligible for the premier regular saver. I will get the santander one when it's available to open online. I don't fancy spending 20 minutes on the phone whilst being read the terms and conditions though. I find it mind numbing

I have a large sipp also that needs a rebalanced. I have a diversified portfolio there but a ton of individual ftse 250 shares that are all in profit.. man group.. Ted Baker etc

I'm thinking about slowly selling them all off and putting the whole amount in a vanguard lifesyrategy 80. I'm 31 and won't need it for another 24 years. Value now is £78k. Thoughts?

2010

jimjames wrote: »

That probably shows a lack of knowledge if you think it's gambling.

Well a very famous businessman called Sir John Harvey-Jones MBE who was also known as the TroubleShooter, in one of his TV programs, once described the Stock Market as "that gambling den".

And I think you may agree he probably may have known a thing or two more than yourself regarding investing and building wealth.

https://www.highbeam.com/doc/1G1-135255694.html

He told The Business that the stock market has become a gambling den

Maybe you`d care to read about him.

https://en.wikipedia.org/wiki/John_Harvey-Jones

2010

stringer_bell wrote: »

I'm fortunate enough to have considerable amount in cash. I won't disclose how much but it's a lot for a 31 year old

I would say investing is all about age.
The theory being if you`re 31 years old you`ve got 40+ years to ride the ups and downs of stocks and shares over time you should in theory make a tidy sum for your old age compared to just having a savings account.
If you`re in your sixties, retired and already made that tidy sum you ain`t got time to rely on the stock market to make money again if it all goes pear shaped.
Risk and reward.
So cash is king (it probably always is) and you don`t want to risk it once you`ve got it.

The best investment would be to put a roof over your head, you always need somewhere to live.
But don`t stop at the first property, keep selling and moving upwards in value.(I`m talking your own home, not BTL).
The theory being, when you`re old and grey you can sell your house and downsize and you`ve got the difference in cash.

Diversification is probably the key by not putting all your eggs in the same basket.

eskbanker

2010 wrote: »

Well a very famous businessman called Sir John Harvey-Jones MBE who was also known as the TroubleShooter, in one of his TV programs, once described the Stock Market as "that gambling den".

And I think you may agree he probably may have known a thing or two more than yourself regarding investing and building wealth.

https://www.highbeam.com/doc/1G1-135255694.html

He told The Business that the stock market has become a gambling den

Maybe you`d care to read about him.

https://en.wikipedia.org/wiki/John_Harvey-Jones

Anyone can pull a quote out of what was clearly intended to be a provocative opinion piece (titled "The City is corrupt, says Troubleshooter") by someone who prided himself on being blunt, it doesn't make it a fact or even relevant!

It's a bit like relying on Donald Trump for incisive analysis of immigration policy matters (or anything else really....)

rastler

Very upset about this.

How can the banks close our Regular Saver accounts just before maturity and say they will pay the 'early closure rate' of interest? (That's 1% net - after tying your money up for nearly a year).

They must not be allowed to get away with it and I've contacted the Ombudsman about this sharp practice by M&S (HSBC).

I've posted all the details in a separate post just now...
"M&S Bank forcing early closure of regular saver. Paying just 1.08% net"

jimjames

2010 wrote: »

Well a very famous businessman called Sir John Harvey-Jones MBE who was also known as the TroubleShooter, in one of his TV programs, once described the Stock Market as "that gambling den".

I certainly know of him. I'd also say I disagree with his statement although it appears more of a political message from 11 years ago prior to the financial crisis.

2010

eskbanker wrote: »

Anyone can pull a quote out of what was clearly intended to be a provocative opinion piece (titled "The City is corrupt, says Troubleshooter") by someone who prided himself on being blunt, it doesn't make it a fact or even relevant!

It's a bit like relying on Donald Trump for incisive analysis of immigration policy matters (or anything else really....)

I would guess both men mentioned have been a lot more successful than you.
They have a proven track record of success and wealth creation.

You may not like any of them but that`s personal.

jimjames

2010 wrote: »

I would guess both men mentioned have been a lot more successful than you.
They have a proven track record of success and wealth creation.

Interesting you say that about Trump. The quote I've seen is that if he'd invested his inheritance in the stock market rather that starting his own business that he'd now be worth double his current net worth. Really such a success and creator of wealth? Maybe stocks are not such a gamble now?

http://www.moneytalksnews.com/why-youre-probably-better-investing-than-donald-trump/

eskbanker

2010 wrote: »

I would guess both men mentioned have been a lot more successful than you.
They have a proven track record of success and wealth creation.

You may not like any of them but that`s personal.

What a strange thing to say - success doesn't mean that their opinions are inherently more credible or valuable than those of others! Successful people are more than capable of saying stupid things, just ask Gerald Ratner.

Likewise whether or not I like someone has no bearing on my views as to the validity of their opinions - I might kinda like Nigel Farage as a person but loathe what he stands for, while disliking but respecting, say, Michael Heseltine.

As it happens I actually quite liked JH-J but that doesn't mean I swallowed every exaggerated pronouncement as fact, I'm quite capable of making my own mind up, thanks....

stringer_bell

!have a large sipp also that needs a rebalanced. I have a diversified portfolio there but a ton of individual ftse 250 shares that are all in profit.. man group.. Ted Baker etc

I'm thinking about slowly selling them all off and putting the whole amount in a vanguard lifesyrategy 80. I'm 31 and won't need it for another 24 years. Value now is £78k. Thoughts?

Edit : as I wrote this. Ted Baker is up 4 percent today!