You don't need to be an 'investor' to invest in Singletrack: 6 days left: 95% of target - Find out more
As retirement looms and I have some pennies put away for it, I was looking sticking some cash into an ISA but am being tempted by gold bars given the tanking the £ is likely to take over the next few years. Let's say £20k - £30k tucked away for 3-5 years. Do we have any financial experts in who can advise gold over something like an ISA?
Cheers
Always believe in it.
It’s indestructible
Smoke and a pancake?
You’ve got the power to know.
I can’t keep this pressure on?
S’funny how it seems...
Do we have any financial experts
Nope, just Spandau Ballet fans 😆
It’s indestructible
..but will it make me indestructible or will I just song really annoying songs forever?
Do we have any financial experts
Nope, just Spandau Ballet fans
It's STW, I should have known what to expect. I want to make a witty response but not being a Spanda Ballet fan, I'm struggling - Why do I find it hard to write the next line?
No advice other than to say any individual purchase of gold over £5k, or annual purchase of gold over £10k is notifiable to HMRC. When the government start seizing assets, try not to be on the list...
https://www.atsbullion.com/investment-guides/a-beginners-guide-to-gold/
Finger
The man with the Midas touch
I've got the Midas touch
Everything I touch turns to gold, oh, sugar
Sugar, ah honey honey
You are my candy girl
Candy Girl
You are my world
You look so sweet
You're a special treat
Sorry
In answer to your question ... leave the money in the ISA and buy a Gold ETF (exchange traded fund)
Your logic for buying gold may be very good but there are many many reasons not to hold gold, especially physical gold .... have a good research and decided for yourself.
Good luck
Came on to post Spandau Ballet lyrics. Got shamed.
If you buy coins get Britannias - they're exempt from Capital Gains Tax as they're British legal currency.
Came on to post Spandau Ballet lyrics. Got shamed.
You could just pick a random song like Ro5ey.
Isn’t gold priced in $? Would buying a load now when the $-£ rate is at an all time low be a good idea? Only you can decide.
Ask Gordon Brown 🤠
Texture like sun ?
Like many investments, long term investment in gold usually does ok, short term could vary from awful to amazing. IANAE but your reasoning seems sound to me that it might be reasonable short termish, but usual advice is don't put all your eggs in one basket/spread the risk. So a bit of gold, a bit of foreign currency, a bit of shares, a bit of property...etc
Hey Drac
I'm no clown, I won't back down
I don't need you to tell me what's going down
Down, down, down, down, da-down, down, down
Down, down, down, down, da-down, down, down
So a bit of gold, a bit of foreign currency, a bit of shares, a bit of property…
a little bit of Erica by my side
Serious answer.
Over the long term gold is not a good investment. A simple low cost tracker fund is a much better investment as it will pay dividends gold doesn’t. Gold is a gamble that relies purely on a rise in price to deliver any return. In that regard it’s not really any better than bitcoin albeit slightly more stable.
Over the long term gold is not a good investment. A simple low cost tracker fund is a much better investment as it will pay dividends gold doesn’t. Gold is a gamble that relies purely on a rise in price to deliver any return. In that regard it’s not really any better than bitcoin albeit slightly more stable.
Parklife!