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I think I've finally cracked why most people don't invest in the stock market
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What do you class as long term?
I've never bought gold as an investment.
I've bought gold jewellery items because I liked them and would wear them. Some were bought secondhand, some made to my own specification.
They have increased in scrap value exponentially to what I paid (some were bought 35 years ago) - and that's not including the stones a lot are set with.
As you seem to be giving advice on investments, where does your knowledge come from?
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I class long term as 20+ years and I'm not saying gold cannot be a form of investment because it can, I'm just saying the global stock market is a better return on investment than gold.
My knowledge comes from general research, years of investing myself, reading research articles and listening to other very experienced investors like Peter Lynch and Warren Buffet.
I've always preferred to invest in an asset that produces something or can generate an income. Stocks do this because the companies you invest in create products that society buys and uses, they invest in growth or pay dividends, spend money on R&D to create the next generation of products etc.
A farm produces crops that can be sold.
Real estate can be rented out to people or businesses for a consistent flow of income.
The reason why I rank gold lower is because it doesn't produce anything in of itself, but it's still a valid investment because gold is finite and it's used for jewellery which people do buy, and electronics etc.
Bonds you get a small interest return but very safe.
Crypto is just pure junk, nothing more needs to be said. Literally produces nothing, does nothing, has no use case, basically trading digital beans between one another.
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Likewise with the endowment, though I did end up getting compensated. I further 'dipped my toe' in the market with a couple of hundred pounds - lost the lot when the company went bust due to mis-management, which was never addressed, despite many investors pre-warning that the strategy was too risky. Add that to also being risk averse (for everyone who sails through life, there's someone who doesn't - me!). I'm not convinced and don't have the time to sit down and learn it all.
Please to be discriminated against by financial institutions. Thank-you for taking advantage of my Dyspraxia.
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Our resident IFA ( on the Investments/Pension forums) says that although at 70+ , a more safety first portfolio would be recommended, he would not advise to go to 100% cash/ultra safe assets until more like around age 80.
A 70 year old has quite a good chance of reaching their 90's, especially if female and in reasonably good health.
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How long did you have your money in the S&S ISA? And was it recommended by an Independent Financial Advisor, or had you selected it yourself? It's worth having regular check-ups with an IFA to make sure any funds you're invested in are performing well, and they can switch it if not.
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Paying an IFA large sums just to look after a S&S ISA, is very unlikely to be worthwhile.
In any case most are not interested unless you have at least £50K, or more like £100K nowadays.
Earlier in the thread the OP said a global index fund is good for the long term ( > 10 years) if you have strongish nerves. Or a medium risk multi asset fund, for the less brave, or for shorter time scales ( 5 to 10 Years) .
Simple as that really, or for more info read the MSE Savings and Investments forum, and the ISA sub forum for ideas.
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Yes it was via IFA and no we are not going near IFAs ever again
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I think they key thing that IFAs offer, is access to better managed funds. Yes, it does cost money (e.g. 1% of your investment), but if that means they can put your money into a fund that makes 8% rather than 4% per annum, it's money well spent.
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Probably we are in the wrong forum for such debates.
Normally the 'savings and Investments' forum is where these issues are normally discussed 'ad infinitum'
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