Investment Advice

ColdIron

Sounds like complete rubbish to me, you can safely dismiss it. Was this from MoneyWeek?

JohnRo

My head is spinning with it all to be honest

Just give yourself a little time, stop trying to run before you can walk.

There are a few basics you'll need to get acquainted with but beyond that it's only as complicated as you want to make it and there are no guarantees that complexity will automatically give a better return than a relatively simplistic solution will anyway.

You've already said you're planning to dip your toe in and that you don't envisage paying capital gains tax any time soon, which implies you're not looking to pile a six figure sum into investments.

I might be better off sticking to a cash Isa paying a measly 1%

One thing for certain is that a cash ISA won't make you better off. At the very least consider unwrapped high interest current, saver and regular savers before going for a 1% cash ISA. At least until you reach the PSA (tax free personal saving allowance)

Just give yourself a little time to absorb some of the basic information and get acclimatised to the language. What's that saying about Rome?

The quote you've posted sounds like a pension or possibly VCT versus ISA dilemma for higher rate tax payers. It's just blather anyway.

Is higher rate taxation and pension contribution relevant to you?

Richard8

Sound advice, thanks.

Higher rate taxation and pension contribution isn't relevant to me as far as I know. The reference to the cash Isa was made because I already hold one and have maxed it out this year.

The plan for the next tax year was to try and commence with some form of long term investment plan, not foolishly rushing in and ploughing everything I've worked hard for in to a risky venture but make an initial deposit of say £1k followed by monthly drip feeding of £100.

You've hit the nail on the head perfectly with the Rome being built in a day analogy and I've bombarded myself with information over a short period of time and there is so much contradictory information out there and everyone has their opinion.

Anthorn

Richard8 wrote: »

My head is spinning with it all to be honest, I might be better off sticking to a cash Isa paying a measly 1%. Just to add another slant to what has been previously said, I stumbled across this earlier:

Oh Emm Gee you've been reading Moneyweek. C'mon admit it. We all know you know!

Seriously though, you don't need to understand it. That's why we pay fees and commissions to financial advisors and fund managers. I know there are those who have D.I.Y. portfolios and good luck to them but the way I see it they think they know more than the professionals. Cheaper maybe but better I doubt very much.

But don't expect to make your first million: I have a cash ISA, an S&S ISA both fully invested and other funds and my projected gain over the next 12 - 24 months is 6.1%. Better than I could get elsewhere but not spectacular.

Richard8

Nargh!!! Not Money Week, I think I extracted that particular piece of wisdom from the comments section underneath an article in the Telegraph (I'll leave it upto you to decide whether I'm joking or not)

Hey I'd be over the moon with 6% interest and I'd be able to stomach the thought of my investment going up and down over a long period, I'm not some numpty with grandiose ideas of becoming the next Warren Buffet.

Richard8

*Buffett (cheese and pineapple on cocktail sticks and all that)