saving/investing

[eteb]

what is your approach?

How much do you tend to put away each month?

Any investment recommendations etc?

 

[dickythorpe]

Mattress. Place any spare cash underneath

 

[Cooperman]

Rathbone Global Opportunities - 17% growth so far this FY

Legal & General International Index Trust - 16% growth this FY

Both through Hargreaves Lansdown, performance not quite as good as pre-Covid but still very good. There are better performing trusts out there but I’m not in them. I favoured these because of their diversity and spread across sectors (both include Apple, Google, Tesla).

** the value of your investments can go up as well as down.

 

[dickythorpe]

Haydock Park 1.30pm

 

[Pentyrchjack]

Mixed portfolio with low risk and high risk: Premium Bonds, Bitcoin and Bitcoin Cash and holiday lets.

 

[Best_loser]

Premium bonds make sense , very safe with the chance of a good return , savings accounts are rubbish until interest rates go up , as for stocks , only invest what you can afford to lose , wait for a crash

 

[JustJack]

A lot of options available these days

Premium Bonds are low risk but the prize money has been slashed and the return is not great

Stocks are a classic option and will always be medium risk, as long as you have the mentality and discipline to build your portfolio regularly.

I've spoken about crypto here before and would always class it as high risk, but there are low risk options, for example you can park fiat money in a pegged stablecoin and get 10% interest.

Whatever you choose, it's the mentality that is important and will determine whether you lose or make money

 

[Cooperman]

Premium bonds make sense , very safe with the chance of a good return

Isn’t the frequency of prize linked to size of investment? There seems little point in investing small sums into premium bonds.

 

[Risc]

If you want a small savings pot on the side, I'd recommend Moneybox. You can put in a payday boost, and weekly transaction, but mainly it rounds up all purchases you make on your debit card up to the nearest pound, and the money gradually builds. That money is then invested into stocks and shares.

I've always found it handy with things like holidays, maybe new golf clubs . It's also pretty sound for long term aswell, it will give you a forecast of how much you will make if you kept it going for 10 years, should be up over the £30k mark if you do it wisely.

 

[Squarebear]

The irony of being old enough to be mortgage-free is that, though I've disposable income, I'm increasingly risk-averse as I don't have a lot of working years to ride out the losses.

Diversification is the name of my game.
My pension (which I didn't start until my late forties, so I'm still wildly throwing money at) is mostly in FTSE trackers. I've also got premium bonds, and thanks to marrying someone with a house I have a rental income from my own house.

The thought of crypto just scares me. I wish it didn't, but at my age I need my sleep.

 

[Pacemaker]

I have used up my ISA allowance every year through Stocks and Shares Isa through Fidelity and in the last year Wealthify who are pretty good for those less interested in managing their own portfolios.

I use regular bonus savings accounts attached to current accounts but these are now so low, I haven’t started a new one this year, I have a couple of cash ISA accounts from years gone by that i transfer to the best cash ISA which are not giving me great returns so i may transfer those into stocks and shares ISA’s.

I have some shares from previous mutual societies that i had from when they converted to public, I have a fair bit of cash in Premium Bonds but the return is not worth it, I have had about £100 in prizes in total this year for a fairly large sum of money, obviously there is the potential to win a big prize but unlikely.

Like others have said I am not looking for too much risk at my time of life, I am mortgage and loan free, i have no outgoings other than normal utilities (and my kids and grandchildren). I would never under any circumstances invest in any crypto but that is my decision, if you want to do it fair enough. But very very risky.

I use up my ISA allowances because I am in a high tax bracket and I am getting spanked on tax with every bit of income i get which is why i have used up my Premium Bond allowance as I am taxed on my savings income outside my ISA’s/PB.

My car is 5 years old and nothing fancy, I spend the majority of my money on holidays (non existent the last two years) I also spend a fair bit on cycling equipment, my house is again a nice house but nothing out of the ordinary, I have a good pension and I have gone back to work whilst the pandemic is going as I have nothing else to do so might as well earn a bit.

I started saving seriously when I was young to buy my own house, then once the children came along I never took pay rises or promotions money directly into my current account but transferred the extra into a regular savings account usually over 10 years that gave me a good lump sum for something like a car, holiday, kids stuff like school trips, university, cars, or house improvements.

I based it on the fact if i can live on what i now earn than i could save the additional money for something special or necessary, i would have wasted the extra money otherwise.

I am quite disciplined but made sure once I started this regular savings I couldn’t get at the money until the end of the term. I am lucky to have always worked as has my wife, I have been a contractor and been employed.

Biggest investment starting a pension at 25, I have never regretted that decision which puts me in the position I am in now.

 

[Best_loser]

Premium bonds make sense , very safe with the chance of a good return

Isn’t the frequency of prize linked to size of investment? There seems little point in investing small sums into premium bonds.

I wasn't really talking small sums, however, even with small sums you can win a big prize , the other safe alternative to government bonds is bank/building society savings accounts which you get practically nothing back

 

[Cooperman]

A good article for both current and potential investors in Premium Bonds.

https://www.moneysavingexpert.com/savings/premium-bonds/

 

[Costello]

The best decision I ever made was to not sell my parent's house when it was left to me. I've used it to raise capital for various other investments and still own it - I haven't lived there for years though, that would be too difficult

 

[Lifelong]

I have alway tried to save over the years, I dabbled in the stock market in the 1980’s, mainly in mutual funds for a period of 10 years and 15 years..I barely got my money back.

I have a fair bit of money in Premium Bonds but the returns are dismal and am about to withdraw it.

I have a stocks and shares ISA and have regained an interest again in the stock market, I am now invested, long term,in a portfolio of large cap American stocks, ie Apple, Amazon, Google, Facebook, Microsoft, Nvidia and PayPal, there is also a mixture of Bio Tech stocks included which could be huge in a few years. The only British stocks I own is Rolls Royce and Aviva.
Being in my mid 70’s there is a good chance I may not see the benefit of a long term investment but my Grandson will.