10K to invest

Stuart_A

I’m looking at investing and want to be pointed in the right direction as I’ve not done this before,Pro’s and con’s and any more information would be appreciated.

Many thanks

xylophone

I’m looking at investing

Do you mean that you are a beginner and want to consider (for example), a stocks and shares ISA?

Some reading which might help.

https://monevator.com/two-ways-to-help-you-find-the-best-online-broker-or-investment-platform/

https://monevator.com/investing-for-beginners-risk-returns-time-and-diversification/

https://monevator.com/index-investing/

Stuart_A

xylophone wrote: »

Do you mean that you are a beginner and want to consider (for example), a stocks and shares ISA?

Some reading which might help.

https://monevator.com/two-ways-to-help-you-find-the-best-online-broker-or-investment-platform/

https://monevator.com/investing-for-beginners-risk-returns-time-and-diversification/

https://monevator.com/index-investing/

Thanks for the reply,yes I’m a beginner 😊

Kings_Knight

Will you be investing for the long term i.e to build up a retirement pot ?

Do you plan to add to your investments i.e through regular monthly contributions

It's "time in the market" that counts .

Stuart_A

Kings_Knight wrote: »

Will you be investing for the long term i.e to build up a retirement pot ?

Do you plan to add to your investments i.e through regular monthly contributions

It's "time in the market" that counts .

Thanks for your reply 👍

Not thought about long term just yet,it would be a one off payment and see how it went.

I’m a total newby to it so I’m trying to find out as much information as I can.

ryannnking

The most simple, risk-free option is to utilise banks that have current accounts with a higher rate of interest. See https://www.moneysavingexpert.com/banking/compare-best-bank-accounts/

If you will not need the money for 5-10+ years, you could look at investing some of this 10k. You will need to do some reading first - the Index Investing link from xylophone is a good place to start.
Investing passively, into an index fund for example, every month is a viable option. If you were to invest be sure to try to define how long you are willing to invest for, ie - will you need any of this 10k in the short term?, and also your risk preferences, ie - how much risk do you want to be exposed to?

Ryan

Kings_Knight

Ok - Just wondering if that's your only 10k or if it is part of a larger sum. All I will say is that whatever it represents are you prepared for a huge hole to appear in it.

I started investing just prior 1987. That was as a result of Mrs Thatcher selling shares in BT and British Gas etc.Selling them direct to the public. Getting the man in the street involved in the stockmarket. Making them stake holders in national firms. That went quite well to begin with. I sold the BT and B Gas shares at a profit and it got me into investment funds. Then we got into 1987 and the October crash. Boy was that a shock. I remember driving home from work and catching the 5pm news on the radio and they said the Ftse 100 had fallen 250 points. I couldn't quite believe what I had heard but immediately checked the news on the TV when I got home. I had heard correctly. The next day it was down 500 points I think. I was thinking god almighty what on earth is happening . This was in the days before investments were easily traded via the home computer and of course there were only newspapers to keep one informed and periodical mags. My savings were down a huge percentage. After that I felt quite ruined for quite a while and had considered jacking it all in. However I didn't and I have been through several similar events over the years. Such as the dotcom bubble and Lehman Brother's. Crikey I can remember seeing indexes going down as if they were petrol pumps on that one. Despite that I have enough to buy a house now. It's been a mixture of heaven and hell but after a long period of time it is quite possible to build up a nest egg . You'll need to consider what firm or platform you would like to go with. There are comparison sites for these. Select a fund. I say fund not share. Single shares are very high risk. Say a world index tracker fund and only put in what you are prepared to risk. Don't go all-in at once. Have a simple buy/sell strategy i.e if the investment goes up 5% sell 2.5% and if it goes down 5% buy 2.5%. There's a miriad of info on the web about how to invest but you may like to buy a book on the subject. But at the end of the day it's about risk and how you would feel if your money took a dive .... and would you need the money.