Complete Novice wanting to invest

dinono10

Tom_Brine wrote: »

If it is for investing £100 a month and you wish to open a vanguard fund then the cheapest option is to go directly with Vanguard itself this can be done from here.

https://www.vanguardinvestor.co.uk/investing-explained/isa

Platforms which charge per trade etc are only good value when you start getting into the big money or have a large ammount already invested.

The best thing to do if you wish to start investing is just take the plunge. You cant go wrong with the above and all of vanguards funds are available for you to invest into. If you wish to diversify in the future into a non vanguard fund you can do so by opening another ISA on another platform in a new tax year.

Yes that does seem the cheapest and easiest option so far for my needs. I have been watching videos for beginners on buying stocks and shares however it still is a little daunting for me. With Vanguard, I can buy and leave it. I do want to at least try rather than just thing about it. It will definitely be with a low payment at first and as I learn more I can possibly increase the payments. I will take a look at the link you have provided and go through it.:beer:

Clive_Woody

I'm in a similar situation where I am about to take the first step. I'm still trying to figure out where I sit when it comes to risk but I'm looking at going direct with Vanguard either 60 or 80 shares mix and will drip feed with a monthly DD.

http://www.moneysavingexpert.com/savings/stocks-shares-isas?_ga=1.31399225.787822864.1466433815

http://monevator.com/vanguard-lifestrategy/

dinono10

Clive_Woody wrote: »

I'm in a similar situation where I am about to take the first step. I'm still trying to figure out where I sit when it comes to risk but I'm looking at going direct with Vanguard either 60 or 80 shares mix and will drip feed with a monthly DD.

http://www.moneysavingexpert.com/savings/stocks-shares-isas?_ga=1.31399225.787822864.1466433815

http://monevator.com/vanguard-lifestrategy/

Good to hear someone else thinking of taking a similar plunge as me. How much are you going to be paying in to it every month? also is it ok to have a normal ISA with my regular payment as well as a stocks and shares ISA with Vanguard?:money:

Clive_Woody

dinono10 wrote: »

Good to hear someone else thinking of taking a similar plunge as me. How much are you going to be paying in to it every month? also is it ok to have a normal ISA with my regular payment as well as a stocks and shares ISA with Vanguard?:money:

You're definitely not alone, plenty of us keen amateurs ready to take the plunge :money:

Still to decide on how much I will pay in monthly. We have a contingency fund saved, we are overpaying on the mortgage but want to get an idea how much surplus is available to invest long term. Probably going to start low like yourself then as funds free up and the mortgage is paid off in 5 years increase to get a decent investment for retirement.

"For the 2017/18 tax year the ISA allowance has increased from £15,240 to £20,000, meaning you can now save even more tax-free. You can split your allowance across a Stocks & Shares ISA and Cash ISA or invest it all in either one."

dinono10

Clive_Woody wrote: »

You're definitely not alone, plenty of us keen amateurs ready to take the plunge :money:

Still to decide on how much I will pay in monthly. We have a contingency fund saved, we are overpaying on the mortgage but want to get an idea how much surplus is available to invest long term. Probably going to start low like yourself then as funds free up and the mortgage is paid off in 5 years increase to get a decent investment for retirement.

"For the 2017/18 tax year the ISA allowance has increased from £15,240 to £20,000, meaning you can now save even more tax-free. You can split your allowance across a Stocks & Shares ISA and Cash ISA or invest it all in either one."

I've looked at the 2 articles you posted. Do you know if there is a set minimum you can invest by DD each month? I'm looking to only put in maybe £30 a month. Not alot , I know but better than nothing. I wonder if I am better off buying 1 or 2 stocks and just keep an eye on them every now and then although the Vanguard LS is better for me as it requires less input.

dinono10

Update: I have put in a lump sum of £500 for now into the Vanguard LS80 fund. I have done this through Vanguard themselves. I am under the impression that I don't have to do anything with it now. Just leave it and check on it every now and then? I don't intend to touch it for a very long time 20+ years, does this sound right to you guys?

barginfinder

that's a good start, if you want to make regular monthly contributions, the usual min per fund is between £25 and £50, its a good idea to make monthly contributions if you can to benefit from pounds cost averaging over the longer term

dinono10

Thank you Barginfinder. It's currently processing my order. I was a bit apprehensive into ordering it but I think I've made my decision for me hopefully it pays off in the future. I will look at putting in some extra money every month when I can .

Audaxer

dinono10 wrote: »

Thank you Barginfinder. It's currently processing my order. I was a bit apprehensive into ordering it but I think I've made my decision for me hopefully it pays off in the future. I will look at putting in some extra money every month when I can .

Well done, I think you've made a good decision to invest, but if I was in your position I would set up a regularly monthly payment to automatically invest, rather than deciding to put in some extra money when you can. By automatic investment every month you will benefit when the price drops and not be tempted into other purchases rather than investing.

Whatever you do, don't panic when the value of your investment drops, as that is when it is most beneficial to you to continue with your monthly investments.

barginfinder

Audaxer wrote: »

Well done, I think you've made a good decision to invest, but if I was in your position I would set up a regularly monthly payment to automatically invest, rather than deciding to put in some extra money when you can. By automatic investment every month you will benefit when the price drops and not be tempted into other purchases rather than investing.

Whatever you do, don't panic when the value of your investment drops, as that is when it is most beneficial to you to continue with your monthly investments.

I agree and think this is good advice - even if its just the min £25 per month