Scottish Widows Investing ?

Heytheremrblue

Personal allowance. I just fancy having a play with investing it’s as simple as that which is the advice I’m after :-) 

Bostonerimus1

Heytheremrblue said:

Personal allowance. I just fancy having a play with investing it’s as simple as that which is the advice I’m after :-) 

So I advise you to first understand how your pension and ISA are invested. You should know this and if you don't make it your priority. 

Heytheremrblue

… I understand that … I’m happily retired with a plan. I’m sorted.

I have some cash I want to invest ! Let’s call it a hobby if you like.

im not interested in any other advice sorry if thats how it sounded.

so to reiterate … Im an investor newbie. Do I look at SW or elsewhere ?

dunstonh

Heytheremrblue said:

Personal allowance. I just fancy having a play with investing it’s as simple as that which is the advice I’m after :-) 

Investing requires you to select the appropriate tax wrapper(s) and the appropriate investments.  Then you typically look at the providers that can offer those.

wmb194

Heytheremrblue said:

… I understand that … I’m happily retired with a plan. I’m sorted.

I have some cash I want to invest ! Let’s call it a hobby if you like.

im not interested in any other advice sorry if thats how it sounded.

so to reiterate … Im an investor newbie. Do I look at SW or elsewhere ?

There are a number of new investor friendly, "robo-investors." IIRC they'll ask you some questions about your risk tolerance and then select a portfolio they offer at the level e.g., low risk tolerance with lead to a portfolio more weighted to bonds.

There's Nutmeg* (owned by JP Morgan Chase), Wealthify, MoneyFarm and InvestEngine. Moneybox as well I think but you can also select your own funds if you like. NatWest and RBS have "Invest" with some ready-made portfolios.

*Checking my Chase bank app it appears to have changed its name to JP Morgan Personal Investing.

https://www.natwest.com/investments/five-ready-made-funds.html

Bostonerimus1

Heytheremrblue said:

… I understand that … I’m happily retired with a plan. I’m sorted.

I have some cash I want to invest ! Let’s call it a hobby if you like.

im not interested in any other advice sorry if thats how it sounded.

so to reiterate … Im an investor newbie. Do I look at SW or elsewhere ?

So I'd invest your spare cash in a similar way to how your DC pension and ISA are invested. You presumably have those invested in a set of funds that is right for your circumstances. If you tell us what those funds are and what you hope to achieve we can offer opinions.

Eyeful

1. Investing means "Putting your money at risk".

2. Have you a  "Defined Benefit Pension" or have you bought an "Annuity" that will cover your needs?

3. If not then that "Scottish Widows Pension" you have, is invested in the stock markets.
Those same stock markets you are here now asking for guidance on.

4. Yet when experienced investors on this forum make the reasonable suggestion that you should first look into how your "Scottish Widows Pension" is invested, you dismiss it as unimportant. 

5. Even if you just do "Simple Investing" , you still will need to have some understanding of what your investing in.
That is true if you use the SW site or go elsewhere.

6. Your statements suggest that you will fall into the typical newbie mistake I warned you about in my first post.
"Jumping into the markets when all the news is good, then jumping ship when markets collapse
 and all the news is bad." 

Beddie

Also have a look at Trading 212, good place to 'have a play' with investing.

poseidon1

Heytheremrblue said:

… I understand that … I’m happily retired with a plan. I’m sorted.

I have some cash I want to invest ! Let’s call it a hobby if you like.

im not interested in any other advice sorry if thats how it sounded.

so to reiterate … Im an investor newbie. Do I look at SW or elsewhere ?

I thought I had better  look at some of your earlier posts and now see that you were relatively late to ISAs and even then just cash ISAs.

Therefore seems apart from your DC pension with SW you have never consciously invested, despite your DC pension probably being the most important stockmarket investment you have at the moment.

I still remain of the view that if you want to play at investing, it is far better you do this via an ISA rather than become entangled with HMRC by way of annual income reporting (once you decipher the unit trust annual tax reports) and the record maintenance for future CGT purposes.

Accordingly if you have any spare cash  languishing in an instance access cash ISA you could consider transferring some of this to a new stocks & shares ISAs, to start your 'hobby'. 

You could look at one or other of the ready made portfolio providers mentioned by wmb194, and look to add new cash to it when your ISA allowance renews next year. Indeed if SW offer easy access to their S & S ISA that's another option, just check the comparative charges.

I really cannot overstate the importance of avoiding general investment account investing when you have no idea of HMRCs reporting requirements as you will see from the plight of the unfortunate OP in the thread below-

https://forums.moneysavingexpert.com/discussion/comment/81769054#Comment_81769054

Heytheremrblue

Thanks guys will have a proper read of your posts in the next day or so !