Advice

dorrellm

I have through unfortunate circumstances come into some money and am not sure what to do. I am hoping to generate a regular income and my future lifestyle has a habit of changing at a whim so having occasional access to the money to help me when needed I think is sensible.
MY Current status

Age 37
Salary 40k

Currently put 300 into a pension 100 into ss isa.

I have
10k marcus account
3.5k as isa this is playing money on stocks and emergency
35k pension invested for fun tbh
190k property rented out mortgaged 60k which easily pays itself off in 5 to 10 years.

I am receiving 170k cash in the next month or two I like my lifestyle currently I rent and am very free to do as I please which I value more than money.

What I want to do with this money is generate 3 percent which I do not think is unreasonable and when I I want to / use the money in future I can. I like tracker funds as i have done okay with these previously. But am very nervous as all of this put in at one point in time appears scary. I contemplated a 300k buy to let but risk and the 10k plus stamp duty seems to not make it not a good idea.

What are your opions on the hl multimanaged funds for risk etc. I like the idea of multiple funds in one fund and the idea of global stocks tracker.

Also I have fallen foul of having woodford investments

AnotherJoe

HL multi manager are too expensive and HL have proven poor record in picking funds, aside the recent Woodford debacle, many of their other chosen funds are poor performers and so are their Wealth [STRIKE]50[/STRIKE]49 funds. Buy simple cheap worldwide trackers from someoene like L&G, HSBC and Vanguard.
If you are too nervous to put it all in one go spread it out over a few months or a year or whatever works for you.

ColdIron

dorrellm wrote: »

What are your opions on the hl multimanaged funds for risk etc.

Very very expensive in-house cash cow for HL

I like the idea of multiple funds in one fund and the idea of global stocks tracker.

A much more sensible choice and a fraction of the cost

dorrellm

Would you say using one company like vanguard and diversifying within there. Or would using multiple platforms is less risky.

Does anyone have an opinion on what they would in est in for 3 percent

dorrellm

What about putting it all in vanguard lifestrategy 60 percent how risky would you think that is

AnotherJoe

What risk are you looking to minimse ?

AnotherJoe

dorrellm wrote: »

What about putting it all in vanguard lifestrategy 60 percent how risky would you think that is

"Risk" isn't a single scale. So, in the context of vls60 I'd say it's artificial over concentration in the "U.K." which in reality means about 20 U.K. companies across a handful of industries means a high risk if banking pharma and oil take a hit
I'd pick another fund that has more companies and allows you to associate with bonds as well. Pretty sure HSBC do a range plus no doubt others.
VLS is "ok" though and it would be better than not investing at all. Don't get analysis paralysis.

SonOf

What are your opions on the hl multimanaged funds for risk etc. I like the idea of multiple funds in one fund and the idea of global stocks tracker.

Also I have fallen foul of having woodford investments

So, why you are you considering HL's multimanager funds?
They have woodford in them and they are damned expensive.

You are looking at paying around 5 times p.a. more than an IFA on a transactional basis and around twice the cost as an IFA on a servicing basis (although servicing would be unnecessary in this case).

There are far better DIY options but if you are going to make DIY mistakes then an IFA on a transactional basis would be better than HL MM funds on HL.

Albermarle

What about putting it all in vanguard lifestrategy 60

A better way to look at potential returns is not just a figure like 3% but what return above inflation you might expect . For example if inflation is 5% in 5 years time and you are only earning 3% then you are losing money in real terms .
Over a long period of time ( > 10 years ) you would be pretty confident that VLS 60 you would at least keep up with inflation and hopefully would give you at least a couple of per cent a year above it ( on average over 10 years ) , although some years you may even get a completely negative %

dorrellm

Son of

Where would I find a ifa that's specialised in this I have tried the investing by myself route and it has returned very well. It's just this is soo much money to me I need to take as much advice as possible

I am cambridge way

Raggie

AnotherJoe wrote: »

"Risk" isn't a single scale.

Sorry to be pedantic AJ.. but risk actually is..or rather can be.

Risk is the relationship between "likelihood" and "consequence".

I know its OT and doesn't help the OP.. but if thinking of your exposure in terms of those two variables such as the "likelihood" of an event happening, and the "consequences" if it does.It may help posters in appreciating exactly what is meant by that word "risk".