Investment

[Highway Man]

I have decided on doing this, I work for a national company and have a pension plan with them, I am thinking I may edge my bets and up my pension stake to adding an additional £250 per week to the pot. This way I am thinking that a professional company will be investing my money to make it grow better than I can, then when I retire I should have a nice little nest egg with little risk.

 

[pete01]

I have decided on doing this, I work for a national company and have a pension plan with them, I am thinking I may edge my bets and up my pension stake to adding an additional £250 per week to the pot. This way I am thinking that a professional company will be investing my money to make it grow better than I can, then when I retire I should have a nice little nest egg with little risk.

I like it.

 

[Ivor Windybottom]

Have I got this right. I have been looking at gold coins, soveriegns some from South Africa as well as Canadian ones. Now I will simplify this so as to avoid confusion. Let us say I bought 5k worth of gold coins from wherever. My total investment is 5k. If I wanted to sell these very coins within a few months or so, does it mean I sell them for less to a dealer for say 4K in which case I have lost 1k. So do I then have to wait until the price of gold goes up to say 6k value so that when I sell them I get my original 5k back ? Meaning I can only ever hope to get my initial investment back if the price of gold goes up?

If that's your starting point then please stick to a savings account!

 

[Ivor Windybottom]

I am going to leave my money in the bank, I don't want to risk losing any of it. I dont mind spending it but to lose it I would be gutted.

Good choice IMO. The world's going mad at the moment, there's no certainty in anything. You're probably better off not "leaving" it in the bank but shopping around to find a better bank.

There are huge differences between savings interest rates. Just ensure they're FSCS registered, specifically for savings - check on the FSCS website, don't rely on the logo on their website.

The only risk you'll have is that the £ itself becomes much less valuable, i.e. the cost of everything in £s rises faster than you make interest. Which is a very real risk with the current government. My attitude at the moment is to buy stuff we need sooner rather than later.

 

[Highway Man]

I like it.

I have concluded from this thread that investing into stocks and shares is not really for me, I like the idea of it but in reality I think my pension plan is my best option.

 

[JohnD]

Luckily you haven't realised what your pension scheme invests in.

 

[Dec27]

Luckily you haven't realised what your pension scheme invests in.

Don’t tell him

 

[Highway Man]

Luckily you haven't realised what your pension scheme invests in.

What?

 

[Mottie]

If I was not interested in investing, I would lob it into a tax free ISA, for as long as that option is available, with a few low-cost trackers. The annual limit is £20,000 and there is currently no limit on the maximum value your account is allowed to grow to. That might change. I might also pay into a low-cost Stakeholder Pension for him, also in low-cost trackers, where every £80 you put in turns into £100 by the magic of tax rebate.

I’m confused. Isn't that what you are against and call it "tax dodging"? What’s the difference with wealthy individuals or corporation legally avoiding paying tax?

 

[pete01]

What?

Donald Trumps fake tan, its a winner don't worry.

 

[Ivor Windybottom]

Donald Trumps fake tan, its a winner don't worry.

New formula! Now with added Russian Diesel.

 

[Highway Man]

New formula! Now with added Russian Diesel.

Putin makes a better friend than he does an enemy.

 

[motorbiking]

What?

Depending on your age and whether you have played with any of the settings it will likely have a mix of equity and bonds.

Just this morning I was asking Claude if I should move more cash to equity due to the crazy amount of tax I will have to pay if I leave it in high interest savings accounts after Rachel Reaves 2% extra tax kicks in. It was asking me about my pension, since it already knows my GIA and ISA portfolio. turns out its quite a cautious spread.

you wont go too wrong asking it to explain your investment options and recommend some investments.

 

[motorbiking]

I have decided on doing this, I work for a national company and have a pension plan with them, I am thinking I may edge my bets and up my pension stake to adding an additional £250 per week to the pot. This way I am thinking that a professional company will be investing my money to make it grow better than I can, then when I retire I should have a nice little nest egg with little risk.

maximising your pension investment against your allowances (I assume you have a 60k cap) is a good strategy, particularly if your employer matches (or betters) your stake. Do you know if they do?

There may come a point where you want multiple sources of wealth to give you better tax management. Given Rachel has changed the rules for next tax year, if you can you may want to invest a lot this year.

 

[Highway Man]

maximising your pension investment against your allowances (I assume you have a 60k cap) is a good strategy, particularly if your employer matches (or betters) your stake. Do you know if they do?

There may come a point where you want multiple sources of wealth to give you better tax management. Given Rachel has changed the rules for next tax year, if you can you may want to invest a lot this year.

I am going to ask what happens, at the moment they put into my pension more than what I do but unsure if they would match my additional amount. I will ask what happens when I put this extra amount in.