Stocks and Shares ISA current climate

Lillyplant

eskbanker said:

Lillyplant said:

Thank you for taking the time out to comment. I think I will ride out the storm. I am in a HSBC conservative C whatever that means! 

Perhaps worth learning about what it means, especially if modest movements cause concern - did you pick it yourself or did someone help you?

Really good point. I inherited some money from my father. I have no family and also have dyslexia. At the time I was very overwhelmed.. I went to a financial advisor and they just confused me so much! So I decided to do some research myself instead..I put some in my pension and I had some premium bonds also. The rest I read about. I decided on HSBC as my father always banked with them and because I don't need the money for a while 5-10 years I figured it would be a good option.  It's hard I think, when having no clue about finances and trying to navigate everything. 

DiamondLil

A year ago, I put £20,000 into a s&s ISA,  In December it had risen to around £24,500; a week ago it had fallen to £19,500. Today it's standing at £20,500.

I've been investing in s&s since the early 1990s and the recent events are nothing new. But over the past 30 years or so, the investments have been very well worth it and have supported me well.

Investing is for the long term but worth it in my opinion.

LL_USS

I don't post much as I am still learning about investing in S&S. Working on brick and mortar (mostly for my own house) was much more straightforward, low risk and high rewarding for me - but it doesn't make sense any more personally to move up and do up, so S&S it is, my next step.

@Lillyplant if I were in your position, i.e. already in it (having bought the investments) already, I would just "sit tight and do nothing", as what people say. I know as much that if the plan is long-term investment then time will iron out the bumps - most of the time. It is almost impossible to time your response to the market.

I have not bought yet so I am still worried about the possibility of a (much bigger) correction of the stock market (which could still be reversed in 10-15 years as in my timeline for this investment, but it's just too much nerve for a new investor). So I still have not quite taken actions yet.

daz378

Lost a bit of nerve...withdrawn 1k from my s&s isa...around a third...surprised  will take 1 to 2 weeks  to sell....will transfer to a cash isa...hope the market  stays steady

dunstonh

daz378 said:

Lost a bit of nerve...withdrawn 1k from my s&s isa...around a third...surprised  will take 1 to 2 weeks  to sell....will transfer to a cash isa...hope the market  stays steady

As stockmarket crashes go, this is the mildest one we have seen in the last 40 years.  Voltility has been higher but the actual peak to trough has been nothing unusual. 

Investments sell within minutes if its a direct asset or next dealing point (typically next day) if its unit trusts/OEICs.  Nothing mainstream takes 1-2 weeks to sell.   What were you invested in?

kimwp

daz378 said:

Lost a bit of nerve...withdrawn 1k from my s&s isa...around a third...surprised  will take 1 to 2 weeks  to sell....will transfer to a cash isa...hope the market  stays steady

Remember you'll need to request the transfer rather than withdraw the money and add it to the cash ISA yourself to not use any more of your allowance.

LL_USS

@daz378 I wouldn't sell when the market is falling unless it's because I really really need the money right now

daz378

Just a medium risk  moneybox  isa...will still have about 1.7 k in there...and adding to it monthly...fidelity all world index 70% ...rest corporate bonds...corporate property bonds...markets so volatile at the moment...

LL_USS

@daz378 I was just about to invest my LISAs then saw all of this votality. Thinking to wait a bit till I know a bit better. Do you still add to investment monthly then?

daz378

Yes I'm adding monthly  about  50 pound.
But this  is only about  12% of my savings..that I realise is risky... my pension DB  thankfully does not rely on the market...which is only a few years away...Lisa  is a long term investment...and should rise in the long term..despite the current volatility....but I'm just a punter...sure others on here can advise better than me