Your bank might have a service. NatWest do.
Gold
Try etoro, you can choose a trader you like and they use your money to trade, I made about 10% in a few months but don’t use it any more as I trade myself. It’s a legit platform, not a scam.
Iirc I used 2 guys, one was called jaynemesis and the other cant remember but sat through some of his webinars and he knows his shit.
How much do you put into this sort of thing? £xx’s, £xxx’s or high roller amounts?
One of my wife’s friends lost about 15k in a high risk ISA, kinda put me off the whole thing I’ve got just under 10k in pension fund from a previous job that I’ve never logged into, I should have a handle on this sort of stuff but honestly feel it’s like a scratchcard without the colourful cartoons.
4 Likes
Any high risk investments you got to be prepared/able to lose some or all of it. Thats the risk but of course theres also the potential reward. Practically giving money away at the minute if you look at the interest rate on personal loans. Risk free ISA or the best high street bank saving bank is safe. Ideally youre looking to keep up/just ahead of inflation if youre saving for the longterm.
2 Likes
I put 1k in but that was just to test it out. Usually a minimum is recommended (I think for this trader it was about 2k) and you should be prepared to hold it there for at least 6 months to a year
I’m using a trading bot at the moment that I configured myself, it’s brilliant. I got a low risk account where it makes about 10% pm and a higher risk account where it makes 15-30% pm
2 Likes
You want an index fund. Vanguard has the lowest fees AFAIK. I wouldn’t go with NatWest invest coz the fees are way higher.
Global All Cap is nice because it’s less UK weighted than other funds, which will be important in the next few months/years.
Just stick in X amount per month and forget about it.
If you figure out how much you’ll deposit a month and run it through here with your expected interest rate you can see the magic of compound interest 
https://www.thecalculatorsite.com/finance/calculators/compoundinterestcalculator.php
3 Likes
Also depending on your tax band and employer pension it might be more efficient to just contribute more to your pension. Lots of places will match your contribution up to a certain percentage, and if you’re a higher raye tax payer you get tax relief on it, so it costs you 20% less.E.g. £100 saved only costs you £80. (Something like that, can’t remember the specifics)
I’m loading mine because I had a nasty scare a few years back when I saw what my pension pot was going to be come retirement age!
Some useful resources on Reddit - r/UKPersonalFinance and r/FIREUK are great - just don’t get discouraged by all the people flexing their big numbers. There’s good advice on there.
Sorry for boring up this skateboarding forum. I find this stuff really interesting hehe. If we could all retire early we’d have so much more time for shitposting.
5 Likes
Our share scheme at work is for every 10 you buy you get one free. I think I put £10-£15 in each month. Got about £800 in shares so far, it isn’t a lot but might pay for something one day. You have to hold them for so long before selling etc and tax and stuff. We normally get a 2% pay rise each year so last year I put some of that into my pension. I’m also using a LISA with moneybox to save for a house, your bonus gets paid monthly and it’s one of the higher interest accounts at the moment even thought it’s only 1.something percent.
1 Like
Do they do that with electric longboards too?
3 Likes
Yeh prices are pretty good at the moment especially on the ones from China. I’m selling them to all the commuters in the office
4 Likes
Invest in a stocks and shares ISA to get started, something like Vanguard Life strategy. Put in a decent amount each month/year and leave it alone. it accumulates nicely by itself, which is the joy of compound interest - it’s a just a start and definitely not a get-rich-quick strategy.
+1 on this. You’re aiming to play the long game.
Definitely not boring. As you said, the realisation itself about retirement is frightening. This needs to be made mandatory in all schools and colleges, rather than being swept under the carpet for the motivated few to find out about in their 30/40s!
Bah, turns out the girlfriend knows all about this and is some financial genius.
‘Oh yeah I do all that already, I’ll show you how’.
Bout to set up my portfoliyo.
Thanks for the advice guys.
Although this just reinforces my belief I’m just a child playing adult.
2 Likes
Join the club.
We ARE on a skateboard forum right?
1 Like
I love Nigella Lawson
4 Likes
