Saving advice for a financially !!!!!! 18 year old please.

dunstonh

it was a woman in a uniform with a clip board standing near the leaflets who I arranged with to have a full financial chat with next week.

Well, that indicates desperation and her answer it wrong. HSBC only have about 10-15 products and she cannot get the absolute basics right on those then quite frankly she doesnt deserve to use the title "adviser". Cancel the appointment and see a real financial adviser and not a bank tied rep.

scott_lawrence

thank you all for your advice, I wont need the money HOPEFULLY for a few years so I am definatly interested in the S&S ISA as jamesd pointed out, I would consider a pension scheme as dunstonh pointed out, however i don't know a thing about pension schemes. I still like the idea of a S&S ISA, how do I go about setting one up and knowing where to invest my money, thanks again, Scott

rathernot

If you're up for learning and doing homework and keeping an eye on your investments and sitting out the bad times it's as simple as going to one of the online financial supermarkets and opening a "Self Select" Mini S&S ISA, and then adding funds and shares etc. to it.

Have a read of this thread How to choose a S&S ISA, it's a bit of a long one but some very useful information.

jamesd

scott lawrence, the discussion I linked to explains all, much of that detail is on the last couple of pages. Hargreaves Lansdown is most popular among those here so just visit their site and sign up and you'll have no shortage of people able to tell you how to do things. And HL themselves are very helpful on the phone provided you don't ask for advice about what to invest in, which they don't provide as part of their ISA service because it's not allowed for execution only services like that one.

Using the pension wrapper can wait so long as you're investing the money. The pension doesn't count as savings for benefits so it does have a significant advantage if you become unemployed.