Vanguard noobie.. what now?!

ranciduk

Ah now I understand !

thanks for that 

tichtich

I recently opened an ISA and SIPP with Vanguard. 

There's no need to keep cash or set up a DD for paying the platform fee. If you haven't done either of those,  they will just sell a bit from one of your funds to pay the fee:
https://www.vanguardinvestor.co.uk/need-help/answer/how-do-i-pay-my-fees

tichtich

ranciduk said:

in a few weeks time if I add say £1000 - does this automatically go into the lifestrategy fund? Or do I have to tell it to do that?!

You can set up a regular investment by DD. I haven't tried that, as my investments are not going to be that regular. 

For one-off investments,  you have to select a fund each time,  even if you only have one fund (unless I've missed an option). But you don't have to go via cash every time. You can add directly to the fund.

One thing I find a bit of nuisance is that I have to enter my debit card details again every time I make an investment. 

ranciduk

I guess it’s a good thing from a security aspect though

if your account details get hacked- at least they can’t use your debit card!

ranciduk

tichtich said:

I recently opened an ISA and SIPP with Vanguard. 

There's no need to keep cash or set up a DD for paying the platform fee. If you haven't done either of those,  they will just sell a bit from one of your funds to pay the fee:
https://www.vanguardinvestor.co.uk/need-help/answer/how-do-i-pay-my-fees

I see

yep I’ll probably just let them do that instead 

thanks

ranciduk

Before I add thousands of pounds into this isa I want to experiment a little by actually taking some money out to see how that works

i know this sounds silly, but for my peace of mind I want to know exactly how I can get my hard earned money back if I need it! 

I’m nervous that in say 10 years time I want my money, and for some reason I can’t get at it ( daft I know, but this money is for my future and retirement and I must know how to get it back!)

so how does it work? Am I right in saying you have to instruct them to sell part of your funds first- then a few days later this shows as cash, which you can then withdraw to your linked current account?

And secondly, do you get charged for this selling/withdrawal every time you do it?

coyrls

It sounds like you opened your Vanguard ISA without reading any of the terms and conditions.  The answers to all your questions are on the Vanguard Website.

6022tivo

coyrls said:

It sounds like you opened your Vanguard ISA without reading any of the terms and conditions.  The answers to all your questions are on the Vanguard Website.

Very helpful, thanks. 
Why do people go to the bother to reply like this. 

The idea of a friendly forum is to have friendly chat with friendly people and to sometime to cut through the jargon of a sites T&C's. 

ranciduk

Yep

the info on their website about my last query is quite vague - unless I’m just being a bit thick..

redpete

ranciduk said:

Before I add thousands of pounds into this isa I want to experiment a little by actually taking some money out to see how that works

i know this sounds silly, but for my peace of mind I want to know exactly how I can get my hard earned money back if I need it! 

I’m nervous that in say 10 years time I want my money, and for some reason I can’t get at it ( daft I know, but this money is for my future and retirement and I must know how to get it back!)

so how does it work? Am I right in saying you have to instruct them to sell part of your funds first- then a few days later this shows as cash, which you can then withdraw to your linked current account?

And secondly, do you get charged for this selling/withdrawal every time you do it?

I've had accounts with several S&S ISAs and withdrawing money is easy in all cases.  You instruct the to sell the funs and then withdraw the cash.  Whether or not you will incur fees to sell depends on the specific Ts&Cs and how many trades you have made.  The amount of any fee is negligible relative to any reasonable amount invested over several years.

Far easier to read and understand those Ts&Cs, or phone up the support line, than sell some as a trial to see what happens.