advice on regular payments into a SIPP please

incus432

I would check the contract notes, make sure the buying charges are as expected.

Is there anyone who can help you in person in future?  I wonder if you do need to pay an IFA

spaniel101

incus432 said:

sadexpunk said:

MallyGirl said:

sadexpunk said:

well ive just gone for 2 ETFs initially, the HMWO and FTWG.  havent decided on the other yet.  just looking at my portfolio now...... have i really just lost around £400 in a matter of seconds??

Yes, but it could go the other way tomorrow. Checking it daily is the route to madness - step away from the portal.

haha ok.  i didnt realise they could be THAT volatile, in just a matter of a few seconds :-)

The advice not to check in too often is good but I dont understand that loss

Purchased @ todays peak 537.21, just before 12.00pm.    Markets closed today @ 12.30pm @ 537.00.

sadexpunk

incus432 said:

I would check the contract notes, make sure the buying charges are as expected.

Is there anyone who can help you in person in future?  I wonder if you do need to pay an IFA

i wouldnt know 'whats expected' tho, so just have to suck it up, im sure itll be right tho.  it prompted me to check a charges table, much like the one i posted a few pages back, but i didnt really understand it.

no, i dont have any financially astute friends, and im always trying to learn how to do things anyway.  so yes, ive lost a few quid but id still prefer to see it out myself.  i guess ill email II, tell ive made a booboo and explain what i actualy wanted.  wont make any difference, im expecting them to just recommend selling up, and buying a new fund, which is where i think i am.

thank you

incus432

If spaniel's prices are correct your loss should have more or less vanished.

I wouldnt expect ii to change the investment for you but with ETFs you can easily sell and then quickly buy what you want. If you really feel it is necessary.  Just be sure you select the right one.

spaniel101

sadexpunk said:

incus432 said:

I would check the contract notes, make sure the buying charges are as expected.

Is there anyone who can help you in person in future?  I wonder if you do need to pay an IFA

i wouldnt know 'whats expected' tho, so just have to suck it up, im sure itll be right tho.  it prompted me to check a charges table, much like the one i posted a few pages back, but i didnt really understand it.

no, i dont have any financially astute friends, and im always trying to learn how to do things anyway.  so yes, ive lost a few quid but id still prefer to see it out myself.  i guess ill email II, tell ive made a booboo and explain what i actualy wanted.  wont make any difference, im expecting them to just recommend selling up, and buying a new fund, which is where i think i am.

thank you

"...ive lost a few quid" ...today. 
You may well find this time next week, you are £400 up!   (Hence MallyGirl's post).


BTW II wont 'recommend' anything, the same as this forum, they won't give advice.   

They will however act 'on instruction' from you.

Jerben

sadexpunk said:

  i guess ill email II, tell ive made a booboo and explain what i actualy wanted.  wont make any difference, im expecting them to just recommend selling up, and buying a new fund, which is where i think i am.

Please NO!

You are trying too hard to micro manage!
(Like a football manager changing the team tactics every two minutes!).
Trying to undo what you’ve done will cost you money, so leave it for now. (It’s not really a problem anyway).

In an ‘Acc’ fund, the distribution simply buys more units, thus increasing the overall value.
With a ‘Dis’ or ‘Inc’, the distribution appears as cash within your SIPP. (You can then invest it in whichever fund you want at no cost to you! - This can have some advantages! Eg Rebalancing, etc.)

No need for an FA as that will cost you money too.

Just be kind to yourself, don’t beat yourself up, calm down, keep reading this and other threads,… and let things develop.

sadexpunk

Jerben said:

sadexpunk said:

  i guess ill email II, tell ive made a booboo and explain what i actualy wanted.  wont make any difference, im expecting them to just recommend selling up, and buying a new fund, which is where i think i am.

Please NO!

You are trying too hard to micro manage!
(Like a football manager changing the team tactics every two minutes!).
Trying to undo what you’ve done will cost you money, so leave it for now. (It’s not really a problem anyway).

In an ‘Acc’ fund, the distribution simply buys more units, thus increasing the overall value.
With a ‘Dis’ or ‘Inc’, the distribution appears as cash within your SIPP. (You can then invest it in whichever fund you want at no cost to you! - This can have some advantages! Eg Rebalancing, etc.)

No need for an FA as that will cost you money too.

Just be kind to yourself, don’t beat yourself up, calm down, keep reading this and other threads,… and let things develop.

good advice, but is there any harm in getting to where i want to be as soon as possible so i can just forget about it?  yes i might appear to be micro-managing, but i assure you thats not where i want to be.  i made a booboo, i need to correct it, so why not just do it as soon as possible?  i want to do the opposite of micro-managing :-) 

you mention trying to undo what ive done will cost me money.  tis true, but itll be the same cost whenever i do it wont it?  notwithstanding market fluctuations of course.

thanks

noclaf

I haven't read the whole thread but as a suggestion before you make further changes to your current choices (which are ok/fine IMO putting aside preferences for acc vs Inc/Dist; HMWO is well-established and I used this ETF in the past)......just be aware that 100% Equities (irrespective of OEIC or ETF's) will be volatile (choppy waters!)..£400 is just a minor blip on the radar ..'noise' in the grand scheme but if you stay the course over longer term Equities tend to go upwards (not in a straight line) and if purchasing units each month will help to iron out the peaks and troughs i.e: prices will fluctuate over time and hopefully purchases at lower prices will help to give you an higher overall total once you start to need funds from the SIPP....lot of assumptions there which I nor you can control (e.g: when will prices be lower) but hopefully makes sense.

Just to add I am 15 ish years away from retirement.... important context IMO because I don't really care too much (not yet anyway) about my SIPP or pensions volatility as won't need/can't access for a while, your situation will be different unless you are happy with 100% Equities in which case crack on and best of luck

MallyGirl

sadexpunk said:

Jerben said:

sadexpunk said:

  i guess ill email II, tell ive made a booboo and explain what i actualy wanted.  wont make any difference, im expecting them to just recommend selling up, and buying a new fund, which is where i think i am.

Please NO!

You are trying too hard to micro manage!
(Like a football manager changing the team tactics every two minutes!).
Trying to undo what you’ve done will cost you money, so leave it for now. (It’s not really a problem anyway).

In an ‘Acc’ fund, the distribution simply buys more units, thus increasing the overall value.
With a ‘Dis’ or ‘Inc’, the distribution appears as cash within your SIPP. (You can then invest it in whichever fund you want at no cost to you! - This can have some advantages! Eg Rebalancing, etc.)

No need for an FA as that will cost you money too.

Just be kind to yourself, don’t beat yourself up, calm down, keep reading this and other threads,… and let things develop.

good advice, but is there any harm in getting to where i want to be as soon as possible so i can just forget about it?  yes i might appear to be micro-managing, but i assure you thats not where i want to be.  i made a booboo, i need to correct it, so why not just do it as soon as possible?  i want to do the opposite of micro-managing :-) 

you mention trying to undo what ive done will cost me money.  tis true, but itll be the same cost whenever i do it wont it?  notwithstanding market fluctuations of course.

thanks

Next month you will get another free trade. 

sadexpunk

noclaf said:
HMWO is well-established and I used this ETF in the past)......just be aware that 100% Equities (irrespective of OEIC or ETF's) will be volatile (choppy waters!)..£400 is just a minor blip on the radar ..'noise' in the grand scheme but if you stay the course over longer term Equities tend to go upwards (not in a straight line) and if purchasing units each month will help to iron out the peaks and troughs i.e: prices will fluctuate over time and hopefully purchases at lower prices will help to give you an higher overall total once you start to need funds from the SIPP....

i suppose i know that i wont remember to check in each month and re-invest.  how often do the 'acc' funds do it automatically, quarterly?  that would suit me just fine.  i guess id just prefer the acc version of these funds.

MallyGirl said:

Next month you will get another free trade. 

have i just done '2 trades'?  so one was free and ill be charged for the other?  and ill also be charged for investing the rest of my balance unless i wait a month?

thank you