Invest in gold or something else ?

atush

Clare43 wrote: »

Thank you. It's just a maturing account. I can access some money if need to in an emergency. I have a work ( NHS ) pension and 3 different policies I've set up a lot of tears ago. I've never had a S&S isa - have the S&S in the investment trust I have with L&G but have never done an isa. Up until now I've just done savings accounts etc, and the L&G is my first venture into S&S that I've been doing for about 8 months

If you hold investment trusts, they can be put into a S&S isa- and then the gains and income wont b taxed. And your 8K could go into investment trusts too- I am a big fan of them.

ColdIron

Looking at the list of investments in the other thread they look like Unit Trusts/OEICs to me. L&G aren't big on ITs but I agree they should go into an ISA

Also have 33k of stocks / shares in various L&G investment trusts including global health, uk property, Asia, European, fixed interest, global 100, global equity, global technology, growth fund, high interest fund, international index, Japan index, U.K. Special situations, US index and worldwide trust.

Clare43

DiggerUK wrote: »

How much you put in now is also down to how old you are.
http://www.capitalandconflict.com/investing-in-gold/a-beginners-guide-to-investing-in-gold/

I'm 44 today

ColdIron

Clare43 wrote: »

I'm 44 today

Many happy returns

Clare43

ColdIron wrote: »

Many happy returns

Thank you

Clare43

ColdIron wrote: »

Looking at the list of investments in the other thread they look like Unit Trusts/OEICs to me. L&G aren't big on ITs but I agree they should go into an ISA

Yes, sorry, they are unit trusts / OEICs. So I could move these into a S&S ISA then ? and this would work out better ?

mt99

On balance I would buy some gold - say a couple of Krugerrands. As others have said they are illiquid-ish and can go up or down but if you go in with your eyes open then a bit of gold is no problem.

ColdIron

Clare43 wrote: »

So I could move these into a S&S ISA then ? and this would work out better ?

Absolutely yes, it's a no brainer

Your investments will be generating dividends which are liable for dividend tax, even if they are accumulation units which are automatically reinvested. Whether you actually have to pay any tax will depend on your circumstances (there is a £5,000 allowance) but in an ISA there is simply no tax

With any luck your investments will be growing year on year and if you choose to sell them in, say, 5 years time you will be liable for capital gains tax on your total gain at that point. Again whether you actually have to pay any tax will depend on your circumstances (there is a £11,100 allowance) but in an ISA there is simply no tax and equally you don't have to keep detailed records to prove it either way and if so how much tax

It's hard to go wrong with an ISA but there is a 'use it or lose it' annual limit of £20K so you could shelter your £33K in a couple of years but if you leave it too long it could take a few years more

Are all those funds held with L&G or are they L&G funds held elsewhere? I only ask as although L&G will provide an ISA wrapper their fees may be on the expensive side and you might want to look around

PS you can't put krugs or sovs in an ISA

Edit - ISA allowance is £15,240 2016/17 and £20,000 2017/18

DigForVictory

The depends on age thing is massive to me. If I had £8K to place, right now, I'd be investing it in education - increasing the market value of myself & offspring.
Were I retired & just wondering how to prolong that £8K, I'd have other problems (although loosing it from my estate to a buried ice cream tub for the offspring to recover in later years has a certain appeal, it isn't that legal & MSE is.)

Clare43

ColdIron wrote: »

Absolutely yes, it's a no brainer

Your investments will be generating dividends which are liable for dividend tax, even if they are accumulation units which are automatically reinvested. Whether you actually have to pay any tax will depend on your circumstances (there is a £5,000 allowance) but in an ISA there is simply no tax

With any luck your investments will be growing year on year and if you choose to sell them in, say, 5 years time you will be liable for capital gains tax on your total gain at that point. Again whether you actually have to pay any tax will depend on your circumstances (there is a £11,100 allowance) but in an ISA there is simply no tax and equally you don't have to keep detailed records to prove it either way and if so how much tax

It's hard to go wrong with an ISA but there is a 'use it or lose it' annual limit of £20K so you could shelter your £33K in a couple of years but if you leave it too long it could take a few years more

Are all those funds held with L&G or are they L&G funds held elsewhere? I only ask as although L&G will provide an ISA wrapper their fees may be on the expensive side and you might want to look around.


PS you can't put krugs or sovs in an ISA

Edit - ISA allowance is £15,240 2016/17 and £20,000 2017/18

Thank you. I might be being a bit daft but can you explain how the allowances you mentioned work please. I'm pretty new to investing so don't really understand everything.

The funds are all held with L&G as far as I'm aware. So if I found someone with cheaper fees I can move the unit trusts I have with L&G to them then if I wanted ?