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Investing £30,000 and €20,000
Comments
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Follow this financial flow chart
and this is a good guide to a simple way to invest, you might start with an "all in one fund" like the Vanguard
VLSxx series.
https://www.bogleheads.org/wiki/Investing_from_the_UK
And so we beat on, boats against the current, borne back ceaselessly into the past.1 -
I had to look up "workplace DC pension plan" sorry... I've always been self-employed, and in the last ten years I earned below the taxable amount and didn't have to pay any tax and or NI 4.
From what I understand I haven't got a retirement savings scheme and will only get the status pension.
My saving will be enough for several years, and in the future they will increase following inheritance.
To go back to my initial post...
Now that some deposits matured and I received a financial gift I have around £50,000 that I would like to invest for 5-10 years. I'm aware that wealth management is not for me (I'm below 100k), but I need help to invest and manage my money.
Do you know any big name?
Hope what I'm saying makes sense...
Thanks.
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Let's say I am not able to do much on my own. Is this a "self-help" way of investing? Thanks again.
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Many people DIY their investing and personal financial management. If you choose not to do that then you should talk to an Independent Financial Advisor (IFA). But even if you go down the IFA route please take some time to read the flow chart and link I sent as a start to your financial education.
And so we beat on, boats against the current, borne back ceaselessly into the past.2 -
It's the "buy and sell" I can't understand how it works, and therefore what to do when things change, for example due to the war in the past few days. Would a Financial Advisor would actually not just advice but also manage my money investments? Big names for below £100K?
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In your OP you said you were looking to invest for long term growth, so 'what to do when things change' is….
Nothing.
Unless your objectives change.
Understanding and accepting market volatility is a critical aspect of investing, as is establishing your risk tolerance…
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Things change all the time. Ukraine war- Covid - Trump tariffs and now Iran war and that is just in the last 6 years. During that time the typical investment fund is up between 25% and 75% . No doubt a lot of things will happen in the next 6 years as well.
So as above the answer is to do nothing.
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An IFA won't do any such tactical selling…even if they do any investment management at all as most employ service companies to do that for them. You should be thinking of what funds you want to buy and then hold them for 10, 20, 30 even 40 years. I have funds I've owned since the 1980s and will probably never sell, just pass them onto my heirs. Read the links I gave you.
And so we beat on, boats against the current, borne back ceaselessly into the past.1 -
Thank you Bostonerimus1, and eskbanker, Albermarle and others. Through your posts and the websites suggested, I'm - slowly - getting a better pictures. Next step is to see in what to invest and how much.
If I can't do it myself, I'll contact a financial adviser to do it, but just once to get help at the beginning.
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Contact an "Independent" financial adviser!
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