investment for income

Options
davidbulpitt
davidbulpitt Posts: 5 Forumite
in Savings & investments
Hello everybody. My name is David and I'm new here. I was wondering if anybody could give me advice about the best way to invest money that would give us a decent income. My wife and I are both disabled and as well as doing some work from home we need to invest some money sensibly. Has anybody done so (stocks and shares, property etc) and found a reliable form of investment that they could recommend to us. We would be very grateful for your advice. Kind regards, David
«13

Comments

  • Theta101
    Theta101 Posts: 140 Forumite
    Options
    This thread may be of interest...

    https://forums.moneysavingexpert.com/showthread.php?t=4662291
  • eskbanker
    eskbanker Posts: 31,334 Forumite
    First Anniversary Name Dropper Photogenic First Post
    Options
    davidbulpitt wrote: »
    I was wondering if anybody could give me advice about the best way to invest money that would give us a decent income.
    The obvious questions to start with are: how much money are you starting with and what do you consider to be a decent income?
  • dunstonh
    dunstonh Posts: 116,534 Forumite
    Name Dropper First Anniversary First Post Combo Breaker
    Options
    here. I was wondering if anybody could give me advice about the best way to invest money that would give us a decent income.

    What level of income are you after? (as a percentage of capital invested).
    Has anybody done so (stocks and shares, property etc) and found a reliable form of investment that they could recommend to us.

    millions of people have. However, there is no one solution that fits all. It depends on your situation, needs, objectives, risk profile, capacity for loss, behavior, tax position etc. We lack detail at the moment.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • HappyHarry
    HappyHarry Posts: 1,590 Forumite
    First Anniversary Name Dropper First Post
    edited 25 April 2018 at 11:35AM
    Options
    davidxxxxx wrote: »
    Hello everybody. My name is David and I'm new here. I was wondering if anybody could give me advice about the best way to invest money that would give us a decent income. My wife and I are both disabled and as well as doing some work from home we need to invest some money sensibly. Has anybody done so (stocks and shares, property etc) and found a reliable form of investment that they could recommend to us. We would be very grateful for your advice. Kind regards, David

    With a little more information, you should receive some ideas on where to turn to on here.

    However, as you are a new user, you need to be aware that not all responses will be in your best interest. You might want to bear in mind the following important points;

    (i) If your username is your real name, you may want to change your username to keep your personal circumstances private.

    (ii) If you receive any private messages from anyone on this forum offering help, I would strongly suggest you delete the messages and post them on this thread for others to see.
    I am an Independent Financial Adviser. Any comments I make here are intended for information / discussion only. Nothing I post here should be construed as advice. If you are looking for individual financial advice, please contact a local Independent Financial Adviser.
  • Sue58
    Sue58 Posts: 288 Forumite
    First Anniversary Name Dropper First Post
    Options
    Not a recommendation so do your own research but you could take a look at Acorn Income Investment Trust (AIF). Its currently trading at a reasonable discount and yields 4.5%.

    There are plenty of others but its a start/suggestion.
  • BLB53
    BLB53 Posts: 1,583 Forumite
    Options
    Has anybody done so (stocks and shares, property etc) and found a reliable form of investment that they could recommend to us. We would be very grateful for your advice
    I have been doing this for many years. Much will depend upon your experience of investing and your appetite for risk and volatility - the stock market is probably not suitable for some who are more used to getting a regular (low) interest from a traditional savings account.

    The easiest route I think is via investment trusts - I hold City of London, Edinburgh, TR Property for example but there are hundreds to choose from. Check out the AIC site (find & compare inv companies) and select 'income' from the investment needs box
    https://www.theaic.co.uk/

    I also recommend a read of Edwards book 'DIY Income' which should provide a basic introduction and give you some indication of whether you feel confident to go diy.
  • dunstonh
    dunstonh Posts: 116,534 Forumite
    Name Dropper First Anniversary First Post Combo Breaker
    Options
    Sue58 wrote: »
    Not a recommendation so do your own research but you could take a look at Acorn Income Investment Trust (AIF). Its currently trading at a reasonable discount and yields 4.5%.

    There are plenty of others but its a start/suggestion.

    I know you posted with good intention. However, we have virtually no information from the OP.

    What is his risk profile? You have suggested a high risk investment
    You have also suggested an investment trust which has no FSCS protection and are generally one risk level above equivalent UT/OEICs.

    Does the OP have the investor experience, capacity for less, behaviour and knowledge to invest fully into a high risk option? can they handle a 30% loss of capital? can they afford a 30% loss of capital?

    I would wait until the OP comes back and gives us more detail.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • ThemeOne
    ThemeOne Posts: 1,471 Forumite
    First Post Combo Breaker First Anniversary
    Options
    You can buy funds which pay income monthly, quarterly, six-monthly or annually via platforms such as Hargreaves Lansdowne. HL is on the high side for fees though, but you can browse the funds on their site to get an idea of what's available, and what sort of return you might get.
  • dunstonh
    dunstonh Posts: 116,534 Forumite
    Name Dropper First Anniversary First Post Combo Breaker
    Options
    You can buy funds which pay income monthly, quarterly, six-monthly or annually via platforms such as Hargreaves Lansdowne.

    Or funds that have no income but you use a cash account with rebalancing and take a fixed regular wtihdrawal.
    you can browse the funds on their site to get an idea of what's available, and what sort of return you might get.

    Still looking at around 27,000 options to filter from that could meet criteria.

    There are also PLAs and IVPPPs amongst other things. Investment bonds could come into play as well (may be too late but investment bonds are not included in means tests for benefits)
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • xylophone
    xylophone Posts: 44,536 Forumite
    Name Dropper First Anniversary First Post
    Options
    Don't forget that you can obtain advice tailored to your particular circumstances from an Independent Financial Adviser.

    https://www.fca.org.uk/consumers/finding-adviser

    https://www.fca.org.uk/firms/financial-services-register

    https://www.moneyadviceservice.org.uk/en/articles/choosing-a-financial-adviser

    https://www.telegraph.co.uk/pensions-retirement/financial-planning/choose-independent-financial-adviser-ifa-much-should-pay/

    http://www.thepfs.org/yourmoney/find-an-adviser/

    https://adviserbook.co.uk/
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

Categories

  • All Categories
  • 343.5K Banking & Borrowing
  • 250.2K Reduce Debt & Boost Income
  • 449.9K Spending & Discounts
  • 235.6K Work, Benefits & Business
  • 608.6K Mortgages, Homes & Bills
  • 173.2K Life & Family
  • 248.2K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.9K Discuss & Feedback
  • 15.1K Coronavirus Support Boards