New Stocks & Shares ISA: Am I getting this right?

dutchcloggie

Yeah, that's what I thought. The only benefit would be I'd get to choose where to invest. But I'd lose all the tax benefits. 
I think putting £300 in per month over the NHS pension is probably as much as I can afford right now. 

Thanks for all the help. 

Nardy

Bravepants said:

Get yourself a copy of Tim Hale's Smarter Investing:

https://www.amazon.co.uk/Smarter-Investing-Simpler-Decisions-Financial/dp/0273785370

I'm about a third of the way through it and it's a good read.

dutchcloggie

Nardy said:

Bravepants said:

Get yourself a copy of Tim Hale's Smarter Investing:

https://www.amazon.co.uk/Smarter-Investing-Simpler-Decisions-Financial/dp/0273785370

I'm about a third of the way through it and it's a good read.

I bought it. Just need to find time to read it. Night shift tonight seems a good opportunity. 

As an aside: the £200 I stuck iny invesent ISA for the fund suggested here is now worth £180 after a week. I am not made for investing I think as I am already worrying. I don't understand how people can invest thousands and not live in fear every day :-)

steveksullivan

You will get used to it ..... 'Investments can go UP as well as down .....'!!!

dutchcloggie

steveksullivan said:

You will get used to it ..... 'Investments can go UP as well as down .....'!!!

I know. I'm just not made for that kind of thing :-) 

daz378

I have  a money box stocks and shares isa ,about a year in, medium risk  it's down 70 pound, in in my late 50s..putting 50 pound a month in .but want to grow it as much as possible, before I retire  ..first time I've seen losses   though I do have a 20 year plus DB  pension to look forward too

eskbanker

daz378 said:

I have  a money box stocks and shares isa ,about a year in, medium risk  it's down 70 pound, in in my late 50s..putting 50 pound a month in .but want to grow it as much as possible, before I retire  ..first time I've seen losses   though I do have a 20 year plus DB  pension to look forward too

How many years until you need the money?

If investing is appropriate for your timescale, have you considered doing so within the SIPP wrapper rather than an ISA?

dutchcloggie

eskbanker said:

daz378 said:

I have  a money box stocks and shares isa ,about a year in, medium risk  it's down 70 pound, in in my late 50s..putting 50 pound a month in .but want to grow it as much as possible, before I retire  ..first time I've seen losses   though I do have a 20 year plus DB  pension to look forward too

How many years until you need the money?

If investing is appropriate for your timescale, have you considered doing so within the SIPP wrapper rather than an ISA?

What's that? A "wrapper"?? 

eskbanker

dutchcloggie said:

eskbanker said:

daz378 said:

I have  a money box stocks and shares isa ,about a year in, medium risk  it's down 70 pound, in in my late 50s..putting 50 pound a month in .but want to grow it as much as possible, before I retire  ..first time I've seen losses   though I do have a 20 year plus DB  pension to look forward too

How many years until you need the money?

If investing is appropriate for your timescale, have you considered doing so within the SIPP wrapper rather than an ISA?

What's that? A "wrapper"?? 

Perhaps more typically referred to a tax wrapper, i.e. a mechanism for avoiding tax.  An ISA is one example, but a SIPP (i.e. a pension) is another, that will generally allow the same investing as would be done within an ISA, while sheltering growth and income from tax, but should be more tax-efficient overall by virtue of the tax relief on contributions, that's normally only partially offset by taxation when taken as income later on (as 25% will be tax-free).

dutchcloggie

And can you change a S&S ISA I to one of those? Like, can I just tell HL I want a SIPP instead?