Complete Novice wanting to invest

Eco_Miser

dinono10 wrote: »

The reason being. ... I don't want to struggle with my mortgage /bills etc and on top of that vanguard. This is why I am asking for advice and help. I want to invest however I need to get the balance right for my needs.

If that was a reply to me (please use the QUOTE button so we can see who you are replying to), none of what you've just written answers my questions.
Investments are voluntary and you can stop contributing any time, and vary the payments to suit what you've got available (subject to a minimum, but if you haven't got that, skip a month or two). If you're seeing something that says different, I suggest you look at a different platform.

dinono10

Eco_Miser wrote: »

If that was a reply to me (please use the QUOTE button so we can see who you are replying to), none of what you've just written answers my questions.
Investments are voluntary and you can stop contributing any time, and vary the payments to suit what you've got available (subject to a minimum, but if you haven't got that, skip a month or two). If you're seeing something that says different, I suggest you look at a different platform.

Sorry I did try but was on my mobile and was on lunch. What you say makes complete sense and I appreciate that. I'm going to carry on reading and doing my research. I was under the impression with the vanguard life strategy fund, you always had to pay it every-month by DD?

Obviously I need to continue readying/studying.:rotfl:

Eco_Miser

dinono10 wrote: »

I was under the impression with the vanguard life strategy fund, you always had to pay it every-month by DD?

Certainly not with the fund (I made a single lump sum investment), but possibly with the platform's regular investment feature, although it may be more flexible than it first appears. Which platform(s) are you looking at?

dinono10

Eco_Miser wrote: »

Certainly not with the fund (I made a single lump sum investment), but possibly with the platform's regular investment feature, although it may be more flexible than it first appears. Which platform(s) are you looking at?

Possibly the less riskier options of the 40/60 of the Lifestrategy. Maybe investing £500, and then just leave it. This seems easier than buying stocks/shares especially as a beginner ?

enthusiasticsaver

dinono10 wrote: »

I read on the monevator website that at my age (35) it recommends the lifestrategy for me. I will invest £500 the minimum and pay by dd into the account £198. This is a little bit steep for me every-month. Hence, I am leaning towards the LS60 or even the LS40.

I too don't understand that comment. If you will struggle to make regular monthly payments just pay in the £500 and top up when you can afford to. Whether it is the LS60 or LS40 makes no difference beyond they have different ratios of bonds to equities

I am not in a rush to access the money, its just so some of the extra income I am getting can go towards buying some assets for 20+ years time.

Does this sound like a good option? Reading alot online Vanguard LS seems ideal for someone like me who isn't in the know and doesn't want to regularly check on stocks and shares.

The Vanguard LS accounts are ideal for just invest and leave it alone. Your comments though about you may need to access money to help pay bills when you move out from your mums make me wonder if you are really looking to invest long term.

Which LS fund you go for depends on which level of risk you feel comfortable with and which term you are interested in investing for. Given you are still fairly young I would expect to get the biggest growth you would go for the LS80 or even LS100 and often people move into the LS60 or LS40 the closer they get to retirement and the need to access it. If you are going to panic if the price moves up and down then investing is not for you.

dinono10

enthusiasticsaver wrote: »

The Vanguard LS accounts are ideal for just invest and leave it alone. Your comments though about you may need to access money to help pay bills when you move out from your mums make me wonder if you are really looking to invest long term.

Which LS fund you go for depends on which level of risk you feel comfortable with and which term you are interested in investing for. Given you are still fairly young I would expect to get the biggest growth you would go for the LS80 or even LS100 and often people move into the LS60 or LS40 the closer they get to retirement and the need to access it. If you are going to panic if the price moves up and down then investing is not for you.

I am looking to invest for the long term. I am happy to put in £500 and leave it . I have 2 jobs on top of airbnb so when I move out back to my flat I should be fine. I won't panic if the prices go up or down as I won't be regularly checking. I will to start the fund and forget about it, just checking every now and then.

I'm hoping to just get started with it and let it do it's thing.:j

dinono10

Also I wanted to ask, how much do the brooker fees usually amount to, on average?

charoniv

dinono10 wrote: »

I will invest £500 the minimum and pay by dd into the account £198. This is a little bit steep for me every-month.

Have a look at Hargeaves Lansdown. Expensive for larger portfolios but they are easy to deal with , good phone support and an friendly interface.

Min ISA lump sum £100 or min monthly direct debit £25.
Be careful that you don't increase debt to support investments.

dinono10

charoniv wrote: »

Have a look at Hargeaves Lansdown. Expensive for larger portfolios but they are easy to deal with , good phone support and an friendly interface.

Min ISA lump sum £100 or min monthly direct debit £25.
Be careful that you don't increase debt to support investments.

I have an ISA with my bank so will go for a life strategy fund. I'm guessing you access to Hargreaves through Vanguard when you set up the account?

charoniv

dinono10 wrote: »

I have an ISA with my bank so will go for a life strategy fund. I'm guessing you access to Hargreaves through Vanguard when you set up the account?

No. You would set up an ISA (wrapper) with h-l then invest in the Vanguard fund through it. You can only contribute to one s&s ISA in a tax year so if you've already paid money into your bank ISA and it's a s&s ISA then you couldn't open one with h-l - but you could transfer.
If you've opened an ISA account but not paid money into it then that's ok - just ignore it - if you've paid money into it then you could transfer it (but that might incur costs) or you could maybe unravel it.

I'm guessing your bank ISA is a cash ISA which is irrelevant and probably has high charges for a s&s ISA.