Where to put £500/month
Discussion
Financial noob here.
I'm looking to invest £500/month. I know nothing about investments, but I do already have an ISA that I'm using for personal savings.
I'm thinking of:
1) £250/month - Foreign & Colonial Investment Trust
2) £250/month - Berry Brothers & Rudd Investment Cellar Plan (I like this idea - diversify the portfolio/add eccentricity)
Is this a sensible place to start? I know nothing of risk etc, other than I don't want to see my money evaporate overnight, but would like to save enough to perhaps treat myself to a Lotus Exige when I'm 55-60yrs old. I'm 32.
Any ideas??
I'm looking to invest £500/month. I know nothing about investments, but I do already have an ISA that I'm using for personal savings.
I'm thinking of:
1) £250/month - Foreign & Colonial Investment Trust
2) £250/month - Berry Brothers & Rudd Investment Cellar Plan (I like this idea - diversify the portfolio/add eccentricity)
Is this a sensible place to start? I know nothing of risk etc, other than I don't want to see my money evaporate overnight, but would like to save enough to perhaps treat myself to a Lotus Exige when I'm 55-60yrs old. I'm 32.
Any ideas??
Risk needs to be low/medium - I don't need the funds to do anything dramatic, just be a sensible growth on the amount put down for the future. Pension is covered by my job (NHS) and I'm hoping to put away small amounts of cash ontop of this. This is simply an idea of where to put £500 that means I can almost forget about it until the time is right so to speak.
Some really useful ideas here regarding different funds to look at - I'll have a look over the next few weeks and explore my options. The last couple of posts in particular have been helpful, so thank you!
Perhaps I need to take financial advice on my pension, as I really don't understand it other than being told it's an ok pension to pay into.
Regarding the wine scheme - I'll explore the other options over this, but for the uninitiated, we're not talking £10 a bottle and a stab in the dark, rather £1600 a half case (6) with proven second hand market history from the big producers - Latour, Margaux etc. Still doesn't remove the risk however!!
Thanks for all the advice!
Perhaps I need to take financial advice on my pension, as I really don't understand it other than being told it's an ok pension to pay into.
Regarding the wine scheme - I'll explore the other options over this, but for the uninitiated, we're not talking £10 a bottle and a stab in the dark, rather £1600 a half case (6) with proven second hand market history from the big producers - Latour, Margaux etc. Still doesn't remove the risk however!!
Thanks for all the advice!
Not entirely sure I'm following anymore - If I already have an ISA, I though I'm not allowed a second, so where does that leave me with the fundsmith stuff etc? What sort of other products are out there that offer a fire-and-forget monthly d.debit type investment opportunity in the markets? bear in mind you're dealing with a complete financial beginner here...
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