Alot of great info in this thread , thanks to all that contributed.
With deposits in banks gaining poor interest, I felt I really needed to get involved in alternative investments and decided after an awful lot of reading that ETF's are the way to go for me.
My plan is to invest 10k once a year into ETF's , i'm hoping to buy 10k worth of Vanguard life strategy 60% equity (
http://www.morningstar.co.uk/uk/funds/snapshot/snapshot.aspx?id=F00000MLUO) my understanding is the ACC means the dividend is accumulated and i'll have to deal with this after 8 years (re tax and revenue).
So I applied online for a TDwaterhouse account , have to just send off forms now.
My plan is to use a currency transfer service to put in 10k in gbp to this account and then hopefully buy the vanguard life strategy on the LSE (assuming its on TDwaterhouse, I can't see it at the moment as I can't log in)
As I will have over the 5k threshold for no yearly fees I only have to worry about the government levy & the low cost of the fund.
Would anyone be so kind as to point out any major or minor flaws in my plan, I have read every post on this forum and other forums , there is a lot of great info that got me this far , was tempted to ring TDwaterhouse and ask there advice but fearful that they may misadvice me to benefit themselves. I understand that ishares also offer these funds but they are charging more for management costs , I also don't mind been over exposed to GBP. Currently i'm saving around 75-100k a year so this will be only ~10% of my savings. Is that too conservative?Is there a general rule in savings what you should leave in cash in bank compared to stocks and shares or funds?
Thanks in advance