Rampant inflation, what do i do?

Eco_Miser

sevenhills said:

WelshGlyndwr said:

so if its your first time investing. How much would you start with like 5k?

With trading costs up to £15 per transaction, I would say a minimum of £500 per share. You could buy 5 different shares and see how they perform.

Don't buy shares. Buy a fund covering the whole world - thousands of shares with one transaction, or maybe a multi-asset fund with bonds as well as shares. Funds are free to trade on some platforms, though you pay a percentage of the total you hold each year; 0.45% at HL, 0.15% at Vanguard.

barnstar2077

Anything new can seem scary at first.  I use Vanguards own website for my stocks ands shares ISA.  I buy one of their Lifestrategy funds every month.  A globally diverse multi asset fund is very different to buying individual shares.  These funds include slices of thousands of companies, so they tend to go up and down in relation to how the markets and world economies are doing. 

Have a google and spend a bit of time reading up about S&S ISAs, vanguard, global trackers and multi asset funds etc.  Once you have decided on a platform and a fund it is no more difficult to do than using online banking in general. 

grumiofoundation

sevenhills said:

WelshGlyndwr said:

so if its your first time investing. How much would you start with like 5k?

With trading costs up to £15 per transaction, I would say a minimum of £500 per share. You could buy 5 different shares and see how they perform.

OP This is why people lose money....

I would suggest ignoring this post and read the ones suggesting looking into a diversified multi-asset fund.

AnotherJoe

WelshGlyndwr said:

Albermarle said:

WelshGlyndwr said:

My partner and i have 56k in savings. In a range of easy access and one year bonds. We don't plan to spend this any time soon. What shall we do about inflation?  Should we look to spend or invest it? or use it to put down on the mortgage?

To get a sensible answer you need to provide more info;
Age ? employed? pension provision? size of mortgage and interest rate etc etc
Also you could read through the forum as similar questions get asked every day  .

28, employed on 36k salary, DB pension contribute 5.5%. Fixed rate mortgage with 3 years left at 2.34%. 175k still to pay mortgage. Already overpaying by £400 a month

5.5% to a pension is very low.

Rule of thumb, half your age when you started.

So, if you started age 25, then 12.5% going forward. So you are well short.

Thus,  I'd start by putting more in your pension.

Worry about "rampant" inflation later, there's no sign of it at present.

grumiofoundation

AnotherJoe said:

WelshGlyndwr said:

Albermarle said:

WelshGlyndwr said:

My partner and i have 56k in savings. In a range of easy access and one year bonds. We don't plan to spend this any time soon. What shall we do about inflation?  Should we look to spend or invest it? or use it to put down on the mortgage?

To get a sensible answer you need to provide more info;
Age ? employed? pension provision? size of mortgage and interest rate etc etc
Also you could read through the forum as similar questions get asked every day  .

28, employed on 36k salary, DB pension contribute 5.5%. Fixed rate mortgage with 3 years left at 2.34%. 175k still to pay mortgage. Already overpaying by £400 a month

5.5% to a pension is very low.

Rule of thumb, half your age when you started.

So, if you started age 25, then 12.5% going forward. So you are well short.

Thus,  I'd start by putting more in your pension.

Worry about "rampant" inflation later, there's no sign of it at present.

If it is a defined benefit pension the actual amount contributed is less relevant (vs DC). 

5.5% will (most likely) be nowhere near the total ‘value’ of the contributions.

sevenhills

masonic said:

Who mentioned buying individual shares?

The OP mentioned shares in post 61

masonic

sevenhills said:

masonic said:

Who mentioned buying individual shares?

The OP mentioned shares in post 61

There are only 46 replies in this thread (before this one). OP's overall 61st post stated only "maybe 5k is good to start with. i guess 36k would be enough in savings."