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Share Dealing Discussion Area

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  • adonis10
    adonis10 Posts: 1,810 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    click on the link above or try bullbearing now. choose a few stocks, follow them for a few weeks and see how it goes. funds are lower risk if you have to spend money now

    Thanks.

    Bullbearings - this is a virtual, practice-type trading platform?
  • longwalks1
    longwalks1 Posts: 3,831 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    chris428 wrote: »
    how i make nuff moneyz peepz?

    Could maybe do a voice over for Ali G?
  • cloud_dog
    cloud_dog Posts: 6,326 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    adonis10 wrote: »
    So I'm thinking of dipping my toes into the share dealing ocean..

    I've been reading a few opinions on shares to watch in some of the broadsheet newspapers' money sections and am in the process of doing some research.

    Few questions:

    - As I am new to the game, and spreading cash over a number of stocks is advisable, would you suggest taking the x amount of £ I am starting with and spreading it equally over the 5/10/however many stocks I choose?

    - Re the above, what sort of starting fund is worthwhile?
    Some of your decision making should depend on the amount of money you have to invest. For example it wouldn't be a good idea to invest £200 in a single stock as dealing charges would eat away at any profit.

    How much are you looking to invest?
    Personal Responsibility - Sad but True :D

    Sometimes.... I am like a dog with a bone
  • adonis10
    adonis10 Posts: 1,810 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    cloud_dog wrote: »
    Some of your decision making should depend on the amount of money you have to invest. For example it wouldn't be a good idea to invest £200 in a single stock as dealing charges would eat away at any profit.

    How much are you looking to invest?

    I know, but this is part of the issue. £1-2k to start with. I know it's not worth it after accounting for dealing charges, but also don't want the whole of my small egg in one basket.

    Maybe worth just saving the money in a regular account until I've got enough and grown the balls to invest 3-5k.
  • rowls
    rowls Posts: 31 Forumite
    Hi All

    Cant remember how to send a new thread , so will have to do it this way !!
    My daughter works for asda and joined the sharesave in Feb 2009 , this lasts for 3 years but she wishes to terminate this and claim her savings ??
    Does anyone know how to terminate and how long it takes to get her funds back ?

    Thanks
  • rowls
    rowls Posts: 31 Forumite
    Hi All

    My daughter is in the asda sharescheme since feb 2009 , this runs for 3 years but wishes to cancel and get back her savings !! does anyone know how to do this and how long does it take to get a refund

    Thanks
  • rowls wrote: »
    Hi All

    My daughter is in the asda sharescheme since feb 2009 , this runs for 3 years but wishes to cancel and get back her savings !! does anyone know how to do this and how long does it take to get a refund

    Thanks

    Your daughter should be receiving statements detailing her contributions and current value of the share save scheme. This should include information about which company is operating the scheme and potentially give her the option to arrange for the holding to be sold and receive the cash just by returning the letter with a signature. No idea how long it takes to receive the money but she should be aware that she will probably lose any matching shares the company have provided if selling early, and I believe that tax and NI would have to be paid on the shares if they are sold before she has held them for 5 years.

    In order to stop contributions, this is usually done by contacting HR, payroll, or whatever the department that deals with salaries/benefits calls itself in Asda.

    If she does not receive any letters giving details of the current value of the scheme, again ask her to contact HR as they should be able to let her know.
  • sabretoothtigger
    sabretoothtigger Posts: 10,036 Forumite
    Part of the Furniture 10,000 Posts Photogenic Combo Breaker
    edited 5 January 2011 at 12:56AM
    adonis10 wrote: »
    Maybe worth just saving the money in a regular account until I've got enough and grown the balls to invest 3-5k.

    So long as the commision is around 1% thats normal I'd say. I always say to check out something like halifax sharebuilder because that costs 1.50 only at its lowest

    which means

    1.50/0.01 = £150 which is a pretty reasonable amount to risk. Of course you arent going to retire early either :)

    other costs are cost to sell of course. for halifax its 5 on 250 or below
    stamp duty which is half a percent
    spread cost, more complicated but its the difference between bid and offer prices. If you buy 1bn big companies its usually nothing to worry about.
    google naked trader and read his book for a rough guide
  • marvin
    marvin Posts: 2,186 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker I've been Money Tipped!
    rowls wrote: »
    Hi All

    My daughter is in the asda sharescheme since feb 2009 , this runs for 3 years but wishes to cancel and get back her savings !! does anyone know how to do this and how long does it take to get a refund

    Thanks
    Below is based on it being A SAYE scheme where you save a fixed amoutn between 3 and 5 years and then buy shares, or have cash at the end of the agreed 3 or 5 year term. Any other type of scheme may have different rules.

    The ASDA scheme (like many now after Lloyds Banking Group sold out of them) is run by Computer Share contacting them should get the money back as she has not been contributing for 3 years yet then it will be the cash value of the contributions she gets back + any interest that was indicated at take-up.

    There is no tax liability on the contributions for this type of scheme as the money is taken after tax (not before as some think, including a lot in the schemes) there may be a tax libility on any interest earned.

    Once she contacts Computer Share the refund should only take a couple of days (used to be instant when it was Lloyds Group just go in with your statement and take out cash) but I would caution to stop the payments first and then get cash back (before next payday) as payments will continue to be called for and getting it back can be a bind.
    I started with nothing and I am proud to say I still have most of it left.
  • AndyGuil
    AndyGuil Posts: 1,668 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    Robbie Burns has been picking up Beowulf mining for his SIPP.
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