First time investor

E

Exile100

Guest
Hi All,

I'm a long time lurker, first time poster...

My breakdown is as follows:

Have been working in the south for 8 months now with job progressing well, I earn 36K, and in addition have a company pension at 4% gross income, which company matches.

I have rental outgoings of 400 pcm and household builds circa 100pcm so a total necessary outgoing of 500 pcm.

I have therefore roughly 2K per month to play around with, ideally I would like to get something away now for medium - long term i.e. 10 years plus as I have land back in the north which when settling down will be available to build on and would like to be in a strong position to do so without taking out a large mortgage.

I would ideally like to use the tax free investment vehicles such as ISAs to but haven't seen anything on the site to point in that direction (possibly looking in wrong area?) but basically any advice would be welcome as stated I am a complete novice and would appreciate any views as how I could make my money work best for me?

Regards,

J
 
Unfortunately we don't have any tax-free savings vehicles like ISAs south of the border. We had SSIAs until earlier this year but they haven't been replaced. So any savings products are taxed on the interest/growth in some form or another.

You have several choices - a regular savings account - see the Best Buys thread here. Or a low-charging unit-linked fund.
 
LDFerguson said:
Unfortunately we don't have any tax-free savings vehicles like ISAs south of the border. We had SSIAs until earlier this year but they haven't been replaced.
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There are also tax free (up to a limit) with CU and banks but the benefits are limited and the rates on offer can be lower than the net return on a demand deposit account at the moment.
 
i would go with a pure equity fund at the moment,prices are low,and some good value.but split it,theres huge growth in india,china still has a long way to go,euozone equity is doing very well in todays climate even north america,talk to a financial adviser,set up a monthly bond giving each of above a percentage,and after about eight years start to skim off some profits and secure it.
 
all we really have is past performance,the two areas you mention are doing very well for me at the moment,although china has slipped back on me,even though i sold out half the fund in august.
yes these funds are high risk but for the lenth of time EXILE100 is talking about i feel its the way to go,but iwould keep china and india on the lower percentage of the fund.
 
ClubMan said:
Which is no guide to future returns.
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here we have a guy asking for advise,opinion help however you want to discribe it,what does clubman do.........slag me off,so negative,must be yor trate you seem to do it on a regular bases,whats the matter no opinion on exile 100 question,well i've made my opinion and i stand by it over a 10 year period its what i'd do,exile100 you got to make your own decision,its a shame clubman couldn't be more posative and actually answer origional posts,but then he does come accross as a sit on the fece kind of guy.
 
Thanks for your feedback guys, I can see both sides of view... prior returns are no gauge for future growth and similarly your just passing ou your opinion.

I think I will enlist the services of an advisor from one of the banks to see how they feel the markets moving, I think ultimately I'll be leaning towards some form of unit fund for a small exposure with the majority going into regular savings accounts.
 
yob said:
here we have a guy asking for advise,opinion help however you want to discribe it,what does clubman do.........slag me off,so negative,must be yor trate you seem to do it on a regular bases,whats the matter no opinion on exile 100 question,well i've made my opinion and i stand by it over a 10 year period its what i'd do,exile100 you got to make your own decision,its a shame clubman couldn't be more posative and actually answer origional posts,but then he does come accross as a sit on the fece kind of guy.
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He didn't slag you off, he just pointed out that you're giving poor advice. Telling someone to invest in India because "its doing well for you at the moment" is about as reliable as telling him to throw a dart at a map of the world.

I think I will enlist the services of an advisor from one of the banks to see how they feel the markets moving
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Just as bad as listening to some random punter on the internet. These guys are glorified salesmen, and can only sell you their employer's product.
 
Think it'll be a case of seeing three or four and take from that the most common plan they are proposing
 
I take your point shanegl,we have three main investments,equity,property and comodities,and i feel equity is giving the best value over the term exile100 is talking about(10yrs).i didn't suggest he invest in india,i suggested that he should consider india and china as part of his portfolio,perhaps 20% if you want me to be precise,and i also mentioned he should seek profesional advice,and i agree someone independant.
 
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