Stocks and Shares ISA, is now a good time to start?
Discussion
Looking at the news about the markets dropping, is now a good time to start an S&S ISA? Or should I wait a bit for things to bottom out then jump in? I have zero knowledge of how any of this works, and would use a "do it for me service" with a small initial monthly amount of £100. If it get to grips with it all then I'd possibly be willing to at least double this.
Appreciate any advice from those who actually know what they are doing. I'm probably looking at doing this over a 3 to 5 year period.
Appreciate any advice from those who actually know what they are doing. I'm probably looking at doing this over a 3 to 5 year period.
TroubledSoul said:
Looking at the news about the markets dropping, is now a good time to start an S&S ISA? Or should I wait a bit for things to bottom out then jump in? I have zero knowledge of how any of this works, and would use a "do it for me service" with a small initial monthly amount of £100. If it get to grips with it all then I'd possibly be willing to at least double this.
Appreciate any advice from those who actually know what they are doing. I'm probably looking at doing this over a 3 to 5 year period.
General advice is to have a look at the Intelligent Money thread at the top of the Finance forum. I'm in the process of moving my existing S&S ISA over to them right now and I've got a couple with them for my kids. Appreciate any advice from those who actually know what they are doing. I'm probably looking at doing this over a 3 to 5 year period.
TroubledSoul said:
Looking at the news about the markets dropping, is now a good time to start an S&S ISA? Or should I wait a bit for things to bottom out then jump in? I have zero knowledge of how any of this works, and would use a "do it for me service" with a small initial monthly amount of £100. If it get to grips with it all then I'd possibly be willing to at least double this.
Appreciate any advice from those who actually know what they are doing. I'm probably looking at doing this over a 3 to 5 year period.
Speak with either JulianPH (IM) or Derek initially.Appreciate any advice from those who actually know what they are doing. I'm probably looking at doing this over a 3 to 5 year period.
1. What are your goals?
2. What are your timescales (3-5 years)?
3. Regular contribution (monthly / quarterly) or lump-sum?
4. What is your risk appetite?
From the above, £100-200p/m over 3-5 years, I really wouldn't advise investing in equities, let alone a relatively small amount drip-fed over this time period. Too much risk for too little upside. I would look towards at least 10+ years for equities to smooth out peaks & troughs.
3-5 years suggest you'll require the funds for something else. In which case, another investment vehicle may be suitable. Again, first port of call would be IM or Derek (or similar trusted adviser) to run through options and provide a best fit for your goals.
Edited by putonghua73 on Tuesday 10th March 12:39
I have just taken the plunge after looking at this for over a year.
S&S ISA VLS80 Accumalation. Small lump sump in and drip feed a couple a hundred per month. I started this on Tuesday last week.
Good time to start ? I dont know but I have to start somewhere and now is a good a time as any. I in for the long term so not too worried that I down 12.32% this week alone !!!
But I keep telling myself it time in the market not timing the market.
S&S ISA VLS80 Accumalation. Small lump sump in and drip feed a couple a hundred per month. I started this on Tuesday last week.
Good time to start ? I dont know but I have to start somewhere and now is a good a time as any. I in for the long term so not too worried that I down 12.32% this week alone !!!
But I keep telling myself it time in the market not timing the market.
paulwoof said:
I started mine on 20/02.
Just in time for the big crash. Currently £650 down in 2 and a half weeks. So there are worse times to start, Mainly mine.
I started my first S&S ISA many years ago, and by my first statement it had dropped something like 40% (blamed on 9/11, but I don't think the timelines worked for that). I was not impressed. I have not looked at the value for a few weeks, but it's about the time each month that I do. I may leave it for a week or two.Just in time for the big crash. Currently £650 down in 2 and a half weeks. So there are worse times to start, Mainly mine.
I may want to get back onto the property ladder in a few years, I may just leave the ISA and let it rumble on. I don't know for sure. All I do know is that if I put money into a regular bank account, the temptation to buy parts for my track cars overwhelms me...
I think I'll get stuck in in a week or two.
I think I'll get stuck in in a week or two.
paulwoof said:
I started mine on 20/02.
Just in time for the big crash. Currently £650 down in 2 and a half weeks. So there are worse times to start, Mainly mine.
I started mine a week before you, luckily I only put £750 in to start it off but it is down £88 today. I have a decent five figure sum in a Marcus account and my plan was to transfer the maximum ISA allowance, thank god I didn't.Just in time for the big crash. Currently £650 down in 2 and a half weeks. So there are worse times to start, Mainly mine.
Interest rates have fallen to 0.25% today, I suspect I will be getting an email from Marcus telling me the interest rate will fall from 1.3% to 0.8% in two months.
Honestly no idea what you are supposed to do with money now, it is almost like an inconvenience.
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