Advice from the financial savvy on here.
A lot has has happened over the last two and a half years and it has brought me into the real world and made me realise planning for the future and making certain you are able to enjoy your later years is massively important.
Anyway, in the last 6 month me and my family have gone from renting off my father in law to owning the property with no mortgage. I am now starting to plan for my retirement (ideally in 20 years!) I am self employed and currently am not paying into any pension and only have a basic (very bad) savings account. I have read on here of all people using investment plan such as vanguard and others and am wanting to start doing the same. It would need to be managed as I currently have zero knowledge on this!
Can anyone set me on the right footing to start? And then secondly best places to read and learn about investments to eventually become more able to choose my own investments.
Sent from my iPhone using Tapatalk
Advice from the financial savvy on here.
Vanguard are soon to launch their own SIPP with industry low account fee of 0.15% - Im currently in LS80 (Ofc 0.22%) with HL but will switch when they are up and running... why pay 0.45% to HL in fees.
Trying to sort out my wifes old Friends Life with profits pension to see if moving it to a SIPP would be better, but its proving a headache.
EDIT: just saw you are talking ISA not pensions, in which case Vanguard would have been the better platform for investing in LS80.
Sent from my iPhone using Tapatalk
Advice from the financial savvy on here.
Quote:
Originally Posted by
craig1912
What’s “a partner in a wealth management company”?
Most if not all wealth management companies are not IFAs and tend to be biased, charge higher rates and not offer value for money.
and why have you set up an ISA investing in Vanguard 80 with HL when you could have done it with Vanguard direct at less cost?
I suspect thats St Jamess Place. They call everyone partner there, really they are all self-employed (more like a franchise model) I hate St James Place, bad fees, bad advice (Woodford anyone?)
Advice from the financial savvy on here.
Ok bad photos Im sorry but charges as per their tc
https://i.imgur.com/rINhJmb.jpg
https://i.imgur.com/qNmn6oL.jpg
Sent from my iPhone using Tapatalk
Advice from the financial savvy on here.
Quote:
Originally Posted by
P9CLY
It will be hard enough to rent let alone buy a property and save as someone mentioned above,500 to 1k a month for a pension!!.
Sadly most of the hardest working people on the planet are the lowest paid,and will continue working until ready to drop,they still won't have amassed an amount to keep them if/when they retire,if they even managed to save [...]
Wise words to say save for your old age,the reality for many is having to actually have enough to exist on now...
Im sorry but thats the reality is that theres no alternative (unless you hope for a future Corbyn-like government that starts expropriating and redistributing accumulated defined contribution schemes).
Also, compound interest is your friend: the earlier you start and the lower you keep the cost the more youll end up with.
Could not anyone save 200 a month?
Thats maybe one watch less to purchase per year, maybe Netflix rather than the Sky Mega package, maybe a few pints less on a weekend.
Its about priorities.
Not trying isnt really the solution I think.