1st ISA attempt, what have I signed up to.

masonic

Dandytf said:

colsten said:

Dandytf said:

Hi as per my most recent previous posts, it seems I do have INC Income Type Units which since account fund details have appeared online yesterday evening I'm delighted about.
Care to answer my re investment choice of 10 or 25 pounds please.

It still doesn't matter a lot as it will take many years before your £25 will have grown by £10.

Will there be a charge for the re-investment, and how much are your ongoing charges? How are you planning on settling those charges?

Thanks -I'm not online until evening tonight.
There are Charges possibly .6% or up-to 1% though that's guess work which after my Fund Units type misunderstanding I should avoid until I have the charges in front of me.
Payment of Deposits + Charges are currently setup to be debited from Bank Account.

It will be the 0.45% platform fee that is collected from your bank account. The 0.6% fund fee will be paid out of assets held within the fund.

Edit: Charges will not be collected from your bank account as per HL's FAQ: https://www.hl.co.uk/help/managing-your-online-account/preferences-and-settings/fees-and-minimum-cash-balance/can-i-set-up-a-direct-debit-to-pay-fees

https://www.hl.co.uk/help#charges-and-fees/collecting-charges/collecting-charges/how-will-the-charge-be-collected

If you don't pay cash into your HL account to cover the fees, you will find that HL starts to sell your investments to cover their fees.

This is another example of something you should have thought about before deciding to invest.

VXman

I do think there is a quite a few comments from 'know it all's' here. It is not always possible to understand everything about investing straight off. I get the feeling the OP understands a reasonable amount about what he has done (whether we agree it's a good choice or not). I personally find 'doing' is a good way of learning and at £25 per month he's not going to lose a vast amount if things go wrong. For many that's less than they spend on Costa coffees in a month.
I would agree though that you would have benefited more by paying of credit cards before trying to invest. Same as trying to reduce your mortgage (if you have one) is generally a better move than saving.

Alistair31

This thread is painful. 

Dandytf

Thanks YXman, your positive comments are very much appreciated.
I'll continue to post updates every few months, certainly once I learn more of Investment language.
I intend to add additional funds by mid 20 In addition to regular deposits.
@Alistair31- maybe taking part in another thread or board could improve your day.

masonic

VXman said:

I do think there is a quite a few comments from 'know it all's' here. It is not always possible to understand everything about investing straight off. I get the feeling the OP understands a reasonable amount about what he has done (whether we agree it's a good choice or not). I personally find 'doing' is a good way of learning and at £25 per month he's not going to lose a vast amount if things go wrong. For many that's less than they spend on Costa coffees in a month.

I would agree though that you would have benefited more by paying of credit cards before trying to invest. Same as trying to reduce your mortgage (if you have one) is generally a better move than saving.

Far from a 'know it all' here. I'd never heard of the fund the OP had invested in when I opened this thread. Nor did I know very much about how things currently work at HL. But all of the information was readily available, and I didn't object to quickly looking it up in order to help to OP out.

But as the saying goes "Give a man a fish, and you feed him for a day. Teach a man to fish, and you feed him for a lifetime." So I won't apologise for recommending the OP develops a habit of looking before he leaps.

I started out of the same mindset as you - that £25 per month could be money the OP could happily fritter away without any impact on his life, but with the debts and comments that the money might be needed in the short term, I don't want to make any assumptions.

Alice_Holt

I wonder if the OP could have constructed a "virtual" investment portfolio on, say, Trustnet in order to learn about S & S investments.
Or alternatively joined an investment club.

Learning through making your own investing mistakes is fine providing an emergency fund is established, and income exceeds expenditure by a reasonable margin.   
If the OP has built up debts, then it suggests his income may be / has been insufficient to sustain his expenditure. In effect borrowing from his future self. With bank overdraft fees of c.40% on the horizon, the decision to put £300 into risk assets, may prove to be costly.
When I was a CAB volunteer I saw how even very small debts can escalate rapidly, and the unfortunate impact this can have on mental health.  The importance of clearing debts and building an emergency fund is not only to be measured in terms of financial rationality   

Dandytf

Thanks recent comments. Thankfully no one has yet deterred me from my Initial Investment fund.
What a frantic day it's been -viewed my HL fund watchlist and found 1.4% drop in value, until when I logged one this evening to witness a whopping 3.28% drop i.e.  4.16 p -ouch!
Though I have continued with much greater value drops from Sharesave funds and also enjoyed buying low and watch them grow, only between 3-5 years then I decide to purchase shares or reclaim my deposits.
I intend to continue max 5 years and possibly upto mortgage redemption 15 years with sharesave+HL fund.
Lots can change and I could alter my funds though no intention of using either for Emergancy fund.
help2save+ soon to be Virgin e-saver should suffice for short term home or car emergency's.
thanks every mser' I'll learn from each comment.

afis1904

This is honestly the weirdest thread I've ever seen

jelajelavic

Dandytf said:

Thanks YXman, your positive comments are very much appreciated.
I'll continue to post updates every few months, certainly once I learn more of Investment language.
I intend to add additional funds by mid 20 In addition to regular deposits.
@Alistair31- maybe taking part in another thread or board could improve your day.

@Dandytf Good luck with the investment but do heed several posters advice to consider debts and emergency funds first in the future.
Please continue to provide regular updates, at least until your first 10 pounds of income are re-invested so we know it was successful.

Dandytf

Alistair31 said:

This thread is painful. 

Hence then reason I thought maybe another Board or Thread could help.
Anyway as advised a few times, I welcome comments from mser's
Todays question with this week Global Markets Drops Inc' U.K.
What is the average recovery time if the Virus cause is found and eliminated.
i.e. Do Stocks recover over weeks, months or much longer.

@jelajelavic your multi quote editing is much Advanced, thanks