Newbie investor. Where to start?

eskbanker

Mishomeister said:

Thanks. I don't believe in investing in to pensions as you only benefit from those if you survive long enough

Really not interested in to putting my money in to something, where I will get no benefit of any kind from, for at least 20 year, until I turn 55.

With the pensions, the goverment also keeps moving the goalpost and by the time (if) I get there, they may say, that you are not allowed to access money until say 65.

Pensions are also an easy target for the government if they need money and the government wil need money very soon, to pay for coronavirus measures.

Might have to stick to ordinary savings or look at peer to peer platforms

For someone who effectively admitted to not knowing what you're talking about, you seem very keen to demonstrate this....

barnstar2077

Some money in a pension is a no brainer in my opinion.  A free 25% from the government, plus companies will often contribute too.  Add in the compounding over 30+ years, it adds up to a lot of money.  Even if you think the government will keep raising the access point (probably 58 for you already)  The potential return is so good for your investment that it makes sense just to put even a small amount of money in one regularly as a life insurance policy (an insurance policy against living too long that is! :  )

dont_look_now

You need to be clear what your aim for this money is. If you have a clear plan to spend it before you reach your late 50s, then obviously a pension is inappropriate (despite the tax and other advantages pensions have). OTOH, if it's a just a vague feeling that you want to keep control of your money, but realistically you wouldn't want to spend it before your late 50s, then your dislike of pensions doesn't make sense, and you should probably rethink your attitude to pensions.

Thrugelmir

Mishomeister said:

Thrugelmir said:

Mishomeister said:

So if  I suspect that I may need money within 2 to 5 years as I am saving for a buy to let mortgage deposit, I take I am better not getting to the investment game?

Correct. Stick to cash deposits. Though BTL isn't attractive as it once was. Pension should be the first priority as more tax efficient. 

Thanks. I don't believe in investing in to pensions as you only benefit from those if you survive long enough

Really not interested in to putting my money in to something, where I will get no benefit of any kind from, for at least 20 year, until I turn 55.

With the pensions, the goverment also keeps moving the goalpost and by the time (if) I get there, they may say, that you are not allowed to access money until say 65.

Pensions are also an easy target for the government if they need money and the government wil need money very soon, to pay for coronavirus measures.

Might have to stick to ordinary savings or look at peer to peer platforms

The downfall of P2P was totally predictable. Nothing worse than chasing yesterday's fad. As those who get in first are the only real winners. 

DiamondLil

Mishomeister said:

Thanks. I don't believe in investing in to pensions as you only benefit from those if you survive long enough

Really not interested in to putting my money in to something, where I will get no benefit of any kind from, for at least 20 year, until I turn 55.

With the pensions, the goverment also keeps moving the goalpost and by the time (if) I get there, they may say, that you are not allowed to access money until say 65.

Pensions are also an easy target for the government if they need money and the government wil need money very soon, to pay for coronavirus measures.

Might have to stick to ordinary savings or look at peer to peer platforms

It was because I did believe in pensions that I was able to retire at 53. You've had some very good guidance here and you choose to dismiss it.

csgohan4

don't believe in pensions but believe in a BTL?... OP you need to have a look at your investment strategy. 

Mishomeister

DiamondLil said:

Mishomeister said:

Thanks. I don't believe in investing in to pensions as you only benefit from those if you survive long enough

Really not interested in to putting my money in to something, where I will get no benefit of any kind from, for at least 20 year, until I turn 55.

With the pensions, the goverment also keeps moving the goalpost and by the time (if) I get there, they may say, that you are not allowed to access money until say 65.

Pensions are also an easy target for the government if they need money and the government wil need money very soon, to pay for coronavirus measures.

Might have to stick to ordinary savings or look at peer to peer platforms

It was because I did believe in pensions that I was able to retire at 53. You've had some very good guidance here and you choose to dismiss it.

Being a mortgage broker with a good level of understanding of taxation and mortgages of the buy to lets as well as having many contacts in the buy to let industry amongst the experience buy to let landlords, that can help me to start up, when the time comes, yes, I am more confident in investing in to something I understand fairly well as opposed to the pensions, tha twill only start to benefit me at the age of 65. Assuming of course I live that long as opposed to dropping dead much earlier because of being overworked.

It is easy to talk about believing in pensions basing your opinion on the past days of much and much earlier allowable retiurement ages.

Just had a look at my old pension pot from HSBC bank. It is saying there that the pension will only be available to me at 65yo.

Being a man, there is a very substantial chance I may not live until then, especially having to work a lot until.

If you can show me the pension schemes where I can retire at 53 I will happily reconsidr my options.

eskbanker

Mishomeister said:

Being a mortgage broker with a good level of understanding of taxation and mortgages of the buy to lets as well as having many contacts in the buy to let industry amongst the experience buy to let landlords, that can help me to start up, when the time comes, yes, I am more confident in investing in to something I understand fairly well...

https://en.wiktionary.org/wiki/if_all_you_have_is_a_hammer,_everything_looks_like_a_nail

Alexland

Mishomeister said:

Thanks. I don't believe in investing in to pensions as you only benefit from those if you survive long enough

However you hold your money it won't be much use to you in death. With a modern pension scheme such as a SIPP you would nominate someone in advance to receive the value of any remaining investments when you die. You are getting some good feedback on this thread so please don't take it personally.

Linton

Mishomeister said:

DiamondLil said:

Mishomeister said:

Thanks. I don't believe in investing in to pensions as you only benefit from those if you survive long enough

Really not interested in to putting my money in to something, where I will get no benefit of any kind from, for at least 20 year, until I turn 55.

With the pensions, the goverment also keeps moving the goalpost and by the time (if) I get there, they may say, that you are not allowed to access money until say 65.

Pensions are also an easy target for the government if they need money and the government wil need money very soon, to pay for coronavirus measures.

Might have to stick to ordinary savings or look at peer to peer platforms

It was because I did believe in pensions that I was able to retire at 53. You've had some very good guidance here and you choose to dismiss it.

Being a mortgage broker with a good level of understanding of taxation and mortgages of the buy to lets as well as having many contacts in the buy to let industry amongst the experience buy to let landlords, that can help me to start up, when the time comes, yes, I am more confident in investing in to something I understand fairly well as opposed to the pensions, tha twill only start to benefit me at the age of 65. Assuming of course I live that long as opposed to dropping dead much earlier because of being overworked.

It is easy to talk about believing in pensions basing your opinion on the past days of much and much earlier allowable retiurement ages.

Just had a look at my old pension pot from HSBC bank. It is saying there that the pension will only be available to me at 65yo.

Being a man, there is a very substantial chance I may not live until then, especially having to work a lot until.

If you can show me the pension schemes where I can retire at 53 I will happily reconsidr my options.

Are you in life shortening ill health now?  Look at the statistics from ONS...
You would seem to be 35 now.  The chances of a 35 year old male failing to reach 65 are about 7-8%. Which is rather less than some estimates of the chance of living to 100.  From the ONS website your life expectancy, assuming average health, is 87.