investing/saving

quirkydeptless

K_W_the_Second said:

I'm sure there's some sound advice here. Except for premium bonds. 

My advice for premium bonds was based on the OP saying they had crossed the threshold into paying tax on savings. What I meant to say was that rather than moving all of their savings to Premium bonds, moving some of it to avoid paying tax would be of benefit, to bring the remainder of their savings interest below the £1000 tax threshold and have the rest earning what will become in the near future about say 0.9% interest tax free (this % equivalent value was estimated in other threads, factoring out the £1M). This would be a better rate than a top easy access account with tax deducted or a Cash ISA.

drphila

Deleted_User said:

Seriously...how do you people KNOW all this stuff?

If they're anything like me, hundreds of hours of reading including the outstanding knowledge base that this forum is.

[Deleted User]

Morning all. I've had a look around this site and generally. Do you have any favourites which you could link for me, which would tell me more about investing as opposed to saving? I hope you're all looking forward to a lovely weekend

csgohan4

Deleted_User said:

Morning all. I've had a look around this site and generally. Do you have any favourites which you could link for me, which would tell me more about investing as opposed to saving? I hope you're all looking forward to a lovely weekend

https://monevator.com/category/investing/passive-investing-investing/

is a good start

[Deleted User]

Thank you! Who knew that I am passive? but I think I am

Albermarle

https://monevator.com/investing-for-beginners-why-do-we-invest/
https://www.moneysavingexpert.com/savings/investment-beginners/

quirkydeptless

Deleted_User said:

Thank you! Who knew that I am passive? but I think I am

Some people on this forum can be passive aggressive 

[Deleted User]

quirkydeptless said:

Deleted_User said:

Thank you! Who knew that I am passive? but I think I am

Some people on this forum can be passive aggressive 

I refuse to believe it

eskbanker

Deleted_User said:

Morning all. I've had a look around this site and generally. Do you have any favourites which you could link for me, which would tell me more about investing as opposed to saving? I hope you're all looking forward to a lovely weekend

I usually point newbie investors towards sites such as:

https://www.moneyadviceservice.org.uk/en/articles/investing-beginners-guide

https://www.hl.co.uk/beginners-guides/investing

http://www.monevator.com

http://kroijer.com/

http://diyinvestoruk.blogspot.com/

https://www.ifa.com/indexfundsthemovie/

as well as highlighting a number of key points of principle:

1. Only consider investing once you have adequate accessible cash reserves.
   
2. Only invest if you're happy to commit for at least 5-7 years and preferably 10-15 or more.
   
3. Diversify - ignore individual shares, etc, and concentrate on collective investments that spread your eggs over many baskets. Global multi-asset funds are a good place to start, available from the likes of HSBC Global Strategy, Vanguard LifeStrategy, Blackrock Consensus and L&G Multi-Index.
   
4. Choose what you want to invest in before considering which platform to hold it/them on.
   
5. Keep an eye on ongoing costs for funds and platforms - they shouldn't be the primary consideration but can make a noticeable difference over the long term.
   
6. Use a Stocks & Shares ISA as a tax-efficient wrapper to avoid liability for income and capital gains tax.

[Deleted User]

Thank you so much, Eskbanker

"Only invest if you're happy to commit for at least 5-7 years and preferably 10-15 or more."

Really? 10 - 15 gives the best returns? I think I'd be looking at 5. Do you think its worth it , based on that time?