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You need a balanced approach to risk, savings, pensions etc but you also need to enjoy life too
This is exactly what I think I do, ensure we currently have a decent lifestyle, the kids have decent opportunities as they grow but me and Mrs K won't have to sit in two armchairs rotting away and not enjoying life when we retire, because we can't afford to go out or sip a decent glass of <insert favourite beverage here>.
I finally sorted my pension out. With my contribution now at 7% and my employers at 5% via salary sacrifice I’m £80 a month worse off but saving an extra £240 a month free money into my pension. A big win, and good advice thanks.
Also, Bailee Gifford seems to be on the way back up, didn’t someone pile a load into it a few months ago? Must have seen some good returns. Stock are on the way down again, I have £700 of saved new bike money I don’t need immediately that’ll go into the S&P500 via Vanguard this afternoon.
I have £700 of saved new bike money I don’t need
That's the first time anyone on here has said that 😜
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Has the Freetrade app stopped working for anyone else today?
Just sound checking something against the Hive mind:
Have opened the toddler a Junior ISA with Hargreaves Lansdown, opened with £100 put the money into a L&G accumulation fund, then make £50 per month contributions to it, seems most funds have a minimum £100 buy, so when had another £100 choose a HL accumulation fund.
I'm thinking if I pick a variety of funds of varying risks and then some specific shares when I can, it'll be quite diversified and shouldn't all be worth knowing when the child is 18? Also accumulation is the right way to go over income? I assume income just puts money into the Junior ISA to be invested since nothing can be withdrawn till age of 18?
One thing to beware of with a children’s ISA is that you’re irreversibly giving the money to someone who may well grow up into someone that you would not wish to give the money to when they’re 18.
Having said that, for a child, especially when starting out, I’d put all of it into a passive world tracker fund, accumulating, with a low management fee.
HL tend to charge fees.
I'd open the ISA on invest engine for example, and then just pick a low fee global ETF such as vanguards VWRP for example.
opened with £100 put the money into a L&G accumulation fund,
I'd suggest avoiding L&G like the plague. My work pension is with these ****ers. I've been paying into it for eight years and it's up something shit like 20%>>>> which is abominable.
Admittedly I've been paying in much more recently than I did eight years ago but 20% is an absolute pisstake.
I'm currently going through the maze of transferring as much as I can into my other funds which actually accumulate