19 and have £500pm to invest, what to do?

ValiantSon

Terry_Towelling wrote: »

Now the arguments have stopped perhaps OP would like to re-engage. The start was a bit vague with the use of the phrase 'currently working full-time' - which seemed to hint that they might not be at some point. That was then cleared up but in slightly wishy-washy fashion OP suggested they would like to save for a house. Again, the invitation was issued to firm up - 'would like to' or 'definitely want to'. No response to that but more questions about investing.

My take is that OP has no real intention of saving for a house purchase (but might if the fancy takes later on) but just wants a piece of the investment action - and like the rest of us has the hope of significant short-term gains over the long term.

Perhaps the LISA and H2B ISAs are a bit scary to one so young due to the restrictions on how/when you can use the cash. Maybe the perception is that you don't have full control or ownership of the money and, psychologically, that may outweigh the benefit of a 25% Government bonus. I don't know, I'm only guessing and unless OP comes back to tell us we'll never know.

No, it seems OP is determined to invest in the markets regardless, and if that leads to a handsome gain and the option of a house purchase then, wonderful, but if it doesn't, well, 'nothing ventured' and all that rot.

Come on OP, you lit the blue touch paper and stood well back. Time to come clean now.

The "argument" was completely valid and relevant to the OP's question.

Feel free to add me to your ignore list.

Terry_Towelling

ValiantSon wrote: »

The "argument" was completely valid and relevant to the OP's question.

Feel free to add me to your ignore list.

Thank you, Valiant Son; that was unnecessarily prickly. I thought the arguments had stopped. I am fully behind you. I was simply inviting OP to return to the debate with something more concrete. Their goals, as revealed through their posts, have been a bit wishy-washy and their theme seems to have been all investment-related. They have not bothered coming back to the table (their choice).

Do you still want me to add you to my 'ignore list'. You would be the first name on it. I'd rather not because I don't operate that way. My life is full of excrement, urine (not mine) and aggression (again not mine) and I have no wish to engage in their metaphoric equivalents on this forum.

ValiantSon

Terry_Towelling wrote: »

Thank you, Valiant Son; that was unnecessarily prickly. I thought the arguments had stopped. I am fully behind you. I was simply inviting OP to return to the debate with something more concrete. Their goals, as revealed through their posts, have been a bit wishy-washy and their theme seems to have been all investment-related. They have not bothered coming back to the table (their choice).

Do you still want me to add you to my 'ignore list'. You would be the first name on it. I'd rather not because I don't operate that way. My life is full of excrement, urine (not mine) and aggression (again not mine) and I have no wish to engage in their metaphoric equivalents on this forum.

I took your comment as an admonition. If it was not intended as such, then I apologise. I have tired, however, at some on here who make a big deal about disagreements and take a superior attitude. They fail to understand that debate and argument are necessary characteristics of intellectual development and actually help sharpen understanding. I am not necessarily accusing you of this, but my patience for such attitudes has worn perilously thin.

I do not wish for you to put me on your ignore list, but that is your choice not mine.

Terry_Towelling

ValiantSon wrote: »

I took your comment as an admonition. If it was not intended as such, then I apologise. I have tired, however, at some on here who make a big deal about disagreements and take a superior attitude. They fail to understand that debate and argument are necessary characteristics of intellectual development and actually help sharpen understanding. I am not necessarily accusing you of this, but my patience for such attitudes has worn perilously thin.

I do not wish for you to put me on your ignore list, but that is your choice not mine.

Absolutely no intention to admonish you and I do hope that you are not 'necessarily' accusing me of anything untoward. I actually quite enjoyed the jousting you were involved in and I am indeed learning a lot as my time on the forum continues. My 'ignore' list remains mercifully blank.

I have also learned that we have to be so careful with written words because the intonation we put in to writing them doesn't always come across the same to the reader. I don't try to write pithily but with completeness and accuracy wherever possible. Sadly, like almost everything else I do in life these days, I do get things wrong and am obviously open to being misinterpreted, misread (or not read at all if some of my 'last word' posts are anything to go by).

If OP would like to re-enter the fray now with more concrete intentions...

Flobberchops

Terry_Towelling wrote: »

Perhaps the LISA and H2B ISAs are a bit scary to one so young due to the restrictions on how/when you can use the cash. Maybe the perception is that you don't have full control or ownership of the money and, psychologically, that may outweigh the benefit of a 25% Government bonus.

No restrictions on withdrawing money from a HTB ISA, and that's why I would call it a no-brainer unless you were intending to subscribe significantly more than £2400 a year to a cash ISA.

Terry_Towelling

Flobberchops wrote: »

No restrictions on withdrawing money from a HTB ISA, and that's why I would call it a no-brainer unless you were intending to subscribe significantly more than £2400 a year to a cash ISA.

Understood.

It's more the fact that the bonus is only granted when your solicitor applies for it at the house-buying stage. You can't use it towards your deposit or fees etc but only on completing the purchase. So, if you really aren't intending to buy a house it may not look so attractive.

This is why I keep asking OP to firm up on their language; 'they would like to buy' versus 'they intend to buy'. I don't think they have any real intention of buying which is why they are not saying anything about H2B and the like. In fact they aren't saying anything at all at the moment.

planteria

great position to be in, and some quality responses above.
using a pension is clearly a good idea, extracting all you can from your employer, and then using an ISA is wise: i have no experience of the LISA, but it seems clear. where your pension and ISA are invested is obviously important too. you probably want to start off in broad funds, and potentially have some riskier investments later on.

fwiw i have some broad-based pensions, a small company pension fund, a very conservative long-term friendly society investment, and then use my ISA for direct share selections nowadays.. but i've recently entered my 40s.

Kylet63b

I would love to be able to put money to a house at some point but like I had mentioned I want to look into different types of investments while I am young.

Vet

LISA first, then have a nice cash buffer o approx 3 months expenses. After that then open 5% savers with first direct, nationwide etc.

ValiantSon

Kylet63b wrote: »

I would love to be able to put money to a house at some point but like I had mentioned I want to look into different types of investments while I am young.

You need to define your objectives more clearly, as this will affect which types of investment and/or savings products are right for you.