Which Vanguard product is the best for me to invest long term ?

IloveElephants

grumiofoundation said:

IloveElephants said:

 Just to note im not a gambling person so dont want to invest in stocks shares etc... because I just want my money to grow and go 1 way. 

This statement doesnt match title of "Vanguard product is the best for me to invest" (Vanguard is a platform used to invest in stocks and shares)??

Do you want to invest (capital at risk, stocks etc) or to save?

Thanks for your comment, I want to invest 10k in total out of that 10k I can invest 3k in stocks i.e. capital at risk in the hope it increases over time.  Thank you

IloveElephants

dunstonh said:

I am so confused when it comes to investing in bank accounts so need your help please. 
My situation is im 36 years old, so far no mortgage, would like to put some savings in an account that will grow over time and give me regular bonds if this still happens? when you get cheques or they give you money to cash every now and then. Like small prizes. 

Your thread title does not match your requirements.  Vanguard are a provider of risk based investments.  Not savings accounts or tombolas. 

So I am able to deposit 10k in a new account because I have 30k saved but this is my deposit money when the time comes to buy a property. So currently I would like to invest 10k in a account and hopefully it will grow. I hope to not touch the 10k and keep it to grow and add to it. Just to note im not a gambling person so dont want to invest in stocks shares etc... because I just want my money to grow and go 1 way. 

There is so much we could say about that one paragraph but that is for another day.   Bottom line is that if the need is in the short term, you should stick to savings.   If it is long term then you should use investments.   

So which account shall I open ?

None.  Vanguard is not suitable for you.    

The closest match for your objectives - no capital risk and prize entries would suggest premium bonds.

Thanks for your comment, I understand now, say if I wanted to invest 3k for long term investing and investments? Which vanguard would be right for me if I didnt need to touch the 3k that I deposit? Thank you for helping me

IloveElephants

Albermarle said:

when it comes to investing in bank accounts 

You do not invest in bank accounts . Generally you seem rather confused, especially about the difference between saving and investing,  so probably some background reading on an easy level may help.

https://www.moneysavingexpert.com/savings/

https://www.moneysavingexpert.com/savings/investment-beginners/

Thank you, yes I would like to invest 3k for the long term, the 7k put in a savings bank that I can have access should I need it. Thank you

IloveElephants

MovingForwards said:

@IloveElephants you need to assess what your long-term goal is with that £10k is it an emergency fund? Is it a retire a year earlier fund? Is it for retirement? Etc

When you know what that goal is, you can then assess what to do with it.

PBs are like the lottery, only you don't lose your stake, but the odds of winning anything are not too good either. You can chase better interest rate accounts, use regular savers etc, but that would rely on you moving money around to find the best rates each time. 

Are you still paying into your old pension? Have you joined your current employer pension? £50pm won't give you much on retirement, even with more added by your then employer.

Stocks and shares are the only realistic way of having money grow, but they are for long-term goals (ideally 10+ years to ride out any blips), not short-term saving. 

If you put more information up, the guys and girls in this section can help.

Thank you Movingforwards, you have been so much help for me.  I have 30k saved but this is for my house deposit hopefully I find a house in 12 months , out of that 30k I will use 20k and deposit 10k in a savings account and out of that 10k I will gamble with 3k and put it in a investment fund for 10+ years and keep topping it up.  I am part of the employer pension and I think the pot is very little at the moment. I will have to open a stocks and share account as you said its the only way of making my money grow as I am 36 I have wasted time before and have to take risk now to make up for lost time. So my next move is finding out what the best stocks and share account is for me long term. I am happy to start of with 3k opening deposit then add money monthly.  Thank you so much MF.

IloveElephants

xylophone said:

Are you currently working?

 Hi, I am looking for a better job because of covid my job ended so looking for another job

ColdIron

What happened to:

Just to note im not a gambling person so dont want to invest in stocks shares etc... because I just want my money to grow and go 1 way

Capital at risk products do not go 1 way, so you could get back less than you put in

Your posts appear to make no sense. How long are you prepared to leave you money untouched?

IloveElephants

ColdIron said:

What happened to:

Just to note im not a gambling person so dont want to invest in stocks shares etc... because I just want my money to grow and go 1 way

Capital at risk products do not go 1 way, so you could get back less than you put in

Your posts appear to make no sense. How long are you prepared to leave you money untouched?

Thanks for your comment, Yes but someone said to me before covid that if I invest 3k over 10 years it will increase? What do you think about that? sorry for the confusion. I am 36 and have lost my 20s on not investing so now Im thinking maybe I have to take a small risk with 3k out of 30k 

onlyfoolsandparking

Perhaps your best investment would be to deal with the 5 CCJ's you have which many people attempted to help you with only to be told you couldn't AFFORD!! the 'set aside' costs 

bowlhead99

It's difficult for us to follow, because you have started by saying that you have 30k which is already in a bank, and that you are talking about this 10k, but of the 10k, 7k is going to be put into a bank (presumably like the first 30k), so that there is only really 3k left for long term investing. 

In the original post last night you said you "dont want to invest in stocks shares etc... because I just want my money to grow and go 1 way" which implies you are only looking at savings accounts which could not fall in value.  If you now mean that you are happy to commit to investments after all, for some of the money, and you don't mind if it is at risk and doesn't always go up, but sometimes goes down instead with an expectation that it will be up over the longer term (10-20 years), then goes up over the longer term.

Vanguard offer some funds that are quite volatile (could lose half their value in a year) such as LifeStrategy 100% Equity or the Global All Cap as mentioned by someone else up the thread. Or they offer other funds which blend together equities (shares) and bonds to get a return that is lower but less volatile (e.g. 40% equity or 60% equity). So it depends whether the 3k is money you can really afford to leave for a couple of decades and hope to get great gains, or whether you would get nervous and want to take it back if it drops temporarily to 2k, in which case you should use a more 'cautious' investment fund and not put yourself in that position.

onlyfoolsandparking

IloveElephants said:

Thank you everybody, I know I have contradicted and confused everybody with what I said.

Because im 36 I have lost my 20s of not investing so maybe after reading more Investing small amounts like 3k is the best way to make up for lost time? I have 30k but this is for my house deposit and currently sitting in a tsb account with no interest. If I gamble 3k and keep it in for the long term 10 plus years and keep topping it up with 50£ every month maybe this can get the ball rolling for me. I have never invested before and worried inflation will erode my savings.  Thank you everyone on here 

You have more to worry about than inflation with 5 CCJ,s and trying to get a mortgage!