£1000 pm

ghanchi

Wished I had £1000 pm ...



Short = Is £1000 pm guaranteed ?

Medium = (1000 x 12 x 10 = £120000), therefore hit your £100k target

Long = retire at 55 - drawdown from investments ?


UK Share Investments alphabetically :
Aviva
BP
GlaxoSmithkline
HSBC
Lloyds
National Grid
Royal Dutch B Shares
Tesco
Unilever
Vodafone


Fund Investments :
Artemis Income
FP CRUX European Special Situations
Fundsmith Equity
Jupiter India
LF Woodford Equity Income
Lindsell Train Global Equity
Marlborough Multi Cap Income
LF Lindsell Train UK Equity
Newton Global Income
Stewart Investors Asia Pacific Leaders
First State Global Infrastructure

eskbanker

ghanchi wrote: »

UK Share Investments alphabetically :
Aviva
BP
GlaxoSmithkline
HSBC
Lloyds
National Grid
Royal Dutch B Shares
Tesco
Unilever
Vodafone


Fund Investments :
Artemis Income
FP CRUX European Special Situations
Fundsmith Equity
Jupiter India
LF Woodford Equity Income
Lindsell Train Global Equity
Marlborough Multi Cap Income
LF Lindsell Train UK Equity
Newton Global Income
Stewart Investors Asia Pacific Leaders
First State Global Infrastructure

Did you use the same pin to 'pick' all of those?

Perhaps it would be worth explaining your thinking and strategy if you're anticipating apparently random lists being of any use to OP (who has already said they're seeking growth rather than income)?

capital0ne

henryandmay wrote: »

If you had £1000 pm to invest, where would you invest it and why?

Outsider at Newmarket, or FOB!

Flobberchops

You're planning on building a large nest egg so (without acknowledging a number of other very important factors) I'd say get as much of it in an ISA wrapper as possible. As soon as your yearly interest hits £1000 you'll start paying tax on it (to give an illustration, that would be when you had £50k earning 2%, or assuming the base rate will improve, £20k earning 5%) - and that's assuming you're a standard rate taxpayer, a not entirely safe assumption given you have £1000 spare each month.



The current annual ISA allowance is £20k a year so saving/investing £1k a month would be entirely possible with a combination of cash and S&S ISAs.

kidmugsy

If your pension contributions at work are paid by salary sacrifice (aka "salary exchange" or "smart pension") then making larger contributions could be attractive. If you are under 40 and happy to tie up money until you are 60 consider a LISA. (You can take the money out before age 60 but, unless you are critically ill, there is a penalty to pay. It's not draconian but it is big enough to sting.)

EmilyG2010

Personally I save 1000pm as follows:


250 into my HSBC regular saver
250 into my M&S regular saver
250 into my Nationwide regular saver

300 into my First Direct regular saver


This gives me 5% on my money every month.

ColdIron

EmilyG2010 wrote: »

This gives me 5% on my money every month.

You should manage your expectations, they give you 5% on your money every year

henryandmay

Terry_Towelling wrote: »

I don’t think anyone else has yet, so let me be the first to congratulate you for wiping your debts (mortgage excepted – still haven’t said how much you’re repaying per month; none of my business I suppose). I’ve read your other thread too, so congratulations for seemingly living quite frugally. What with tax, NI, mortgage, 5% pension contributions, council tax etc etc you are doing well to come out with £1000 pm to spare.

I think you should look behind the simple question of what to do with your cash. Your longer term objectives to retire at 55 are easily achieved if you continue to live frugally and as long as life treats you well. BUT Are you guaranteed to keep paid employment for the next 20 years? Will you get fed up of living so frugally? Are you married/single/living with? – your alias suggests a relationship. If so, don’t forget to protect them against things like having to sell the house to pay for your long-term care if you ever need it. Even more personally, what about kids? – do you have any or will you have any? All these things (plus more) will affect your overall strategy.

I stopped working when I was 49 with savings around 50% of what you will have at that age and no prospect of any income (except Carers Allowance) until a reduced final-salary pension kicked in last year. What saved me was that I had done exactly as you have and cleared my debts (including the mortgage) by age 42. Regardless of how affordable a mortgage might seem, it might not always be that way and paying it off is like having a very heavy weight taken off.

Anyway the point of all this drivel is to say that anyone capable of living as cheaply as you can should have no difficulty retiring at 55 with your workplace pension and 20 years of accumulating £1K per month plus returns, so you may as well stop worrying and just shove most of it in simple easy access/notice/fixed rate accounts that pay the best interest rates. Why would you need any more than that? – especially if you don’t have any kids to leave it to - and, yes, I do know that inflation will reduce the value of cash over time.

Doubtless no one else will agree with me because there are other ways to achieve higher returns if you want to work at it a bit more.

Thank you for your kind words. Debt is so easy to accumulate but so difficult to pay back. So glad those days are behind me now.
My wife and I split the household bills etc so things are relatively cheap on a month to month bases. She also saves a decent amount each month which is great.
I've just up my work based pension to 15%, so I put in 10% and employer 5%.

EmilyG2010

5% per annum monthly is what I mean. You just need current accounts with these banks and direct debits for some of the accounts.

eskbanker

ColdIron wrote: »

EmilyG2010 wrote: »

This gives me 5% on my money every month.

You should manage your expectations, they give you 5% on your money every year

She is making 5% every month as she's starting with £1000pm but by the time the contributions to the individual regular savings are totalled, it's become £1050, ergo 5% made per month!

EmilyG2010 wrote: »

Personally I save 1000pm as follows:


250 into my HSBC regular saver
250 into my M&S regular saver
250 into my Nationwide regular saver

300 into my First Direct regular saver