Investment Help & Info

Associate
Joined
26 Jul 2017
Posts
267
Happy sunday and lockdown people,

Seeing as a lot of people are sorting out their investments during this time i thought id do the same or at least start

Basically im self employed and have a few old ISAs but havent done anything during this tax year or hold any shares etc.. but now looking to recifity that

Looking at the following:

1) Cash ISA (is there currently any point in this with low rates)

2) Stocks and shares ISA with either someone like HL or vangaurd etc. But would it be best to go in a fund for this rather than individual shares for ease of use

3) Buying seperate stocks with someone like Halifax share dealing or Etoro or Trading 212 (or anyone else)

4) Pension or SIPP - simply because of the tax relief aspects and can invest a low amount like 1k for time being for my future

5) Any other investment portfolio

What would be best few things to do and where should i concentrate first as it is a bit of a minefield out there espcially for a first timer

thanks in advance
 
Soldato
Joined
21 Jan 2010
Posts
12,727
A Vanguard fund is the easiest way to get started, but it is a long-game. Playing the market yourself requires a lot of time, effort and patience. Cash ISAs are fairly pointless given the low return and unless you have a lot in there, don't give any tax benefits.

As Luke does a poor job of explaining above, it's a very tricky question and needs to be taken seriously. Especially if you are a non-homeowner/ low income/ getting on in years.

Edit: Trading 212 is good for a laugh, I'm not sure how "backed up" it is so I'd be cautious about using it as my main tool. I got a free Snapchat share and a free Under Armour share for recommending someone else - so I'm up more than my Cash ISA already.

Edit2: In terms of getting started, the general rule is to clear your debt first. A similar priority is short-term cash liquidity, i.e. don't have all your savings tied up in accounts that are impossible to access. I'm sure someone will post a link to the full stockmarket thread but your question is much wider than this.
 
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Soldato
Joined
19 Jan 2006
Posts
14,634
Honestly - Don't take any advice from anyone on here

People can "recommend" "give information" as much as they want but my suggestion - Do your own research first

No one on here knows your tax situation. age, retirement thoughts, attitude to risk, family situation, work, earnings etc. So asking for financial planning/tax advice or guidance isn't going to get you the best, most appropriate answers.

Do some digging, then if needed, go and speak to an financial adviser - Any decent IFA/advisor will not charge you for an initial meeting and should be able to point you in the right direction. You do not need to engage their services if you don't feel the need but most should offer an initial meeting for free without any catches.
 
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