Investment Newbie
Discussion
In a position now where I have enough savings to cover myself in the event something happens, looking to now make the extra money to start earning me some more. I'm not really looking to make a million dollar fortune but just something to add & top up the savings and help to get rid of the mortgage quicker.
I know basic rules such as only spend what you can afford to lose & to spread investments in a rage of areas to minimise risk but other than that I'm very much a newbie. There are also practice accounts I've heard of?
I wouldn't mind looking at 1) shares, 2) commodities like physical gold/silver & other areas but there are many platforms & areas that it's a bit overwhelming.
Can anybody recommend anything for 1 & 2 which wouldn't charge me loads in fees & where I can buy quantities of silver depending on how much I have that month?
I know basic rules such as only spend what you can afford to lose & to spread investments in a rage of areas to minimise risk but other than that I'm very much a newbie. There are also practice accounts I've heard of?
I wouldn't mind looking at 1) shares, 2) commodities like physical gold/silver & other areas but there are many platforms & areas that it's a bit overwhelming.
Can anybody recommend anything for 1 & 2 which wouldn't charge me loads in fees & where I can buy quantities of silver depending on how much I have that month?
If you want to pay your mortgage off quicker then overpay your mortgage by a few hundred a month, but do not pay too much so you incur charges. Otherwise drip feed a few hundred in a low cost market tracker every month and forget about it. Not sure why you are keen on silver as price is not that good.
bobski1 said:
In a position now where I have enough savings to cover myself in the event something happens, looking to now make the extra money to start earning me some more. I'm not really looking to make a million dollar fortune but just something to add & top up the savings and help to get rid of the mortgage quicker.
I know basic rules such as only spend what you can afford to lose & to spread investments in a rage of areas to minimise risk but other than that I'm very much a newbie. There are also practice accounts I've heard of?
I wouldn't mind looking at 1) shares, 2) commodities like physical gold/silver & other areas but there are many platforms & areas that it's a bit overwhelming.
Can anybody recommend anything for 1 & 2 which wouldn't charge me loads in fees & where I can buy quantities of silver depending on how much I have that month?
Trading212 has a pseudo profile that you can use - sans real money.I know basic rules such as only spend what you can afford to lose & to spread investments in a rage of areas to minimise risk but other than that I'm very much a newbie. There are also practice accounts I've heard of?
I wouldn't mind looking at 1) shares, 2) commodities like physical gold/silver & other areas but there are many platforms & areas that it's a bit overwhelming.
Can anybody recommend anything for 1 & 2 which wouldn't charge me loads in fees & where I can buy quantities of silver depending on how much I have that month?
Some people have a link that earns you one free share if you ask nicely ;-)
Perhaps give that a go to see how you get on.
In the meantime, paying more into the mortgage (as mentioned above) would prob be your best option - as long as you have the ability under your deal and there are no additional fees!
AS for commodities - some are highly volatile and probably not suitable for the inexperienced. Sure, there are potential gains to be made, but you can also find yourself with losses.
Tread carefully, but hope it goes well for you.
Silver is one of the most under-valued commodities and has huge growth potential during these extremely tough economic times.
It has many industrial uses, as well as Monetary uses. Plus demand is already starting to out-strip supply. You can never do enough research on Gold & Silver
Due to its limited supply, over the coming months you will see more investors and speculators jumping on the Gold/Silver bandwagon when they won't be getting the desired returns from more traditional investments and Inflation eroding fiat currency in the aftermath
It has many industrial uses, as well as Monetary uses. Plus demand is already starting to out-strip supply. You can never do enough research on Gold & Silver
Due to its limited supply, over the coming months you will see more investors and speculators jumping on the Gold/Silver bandwagon when they won't be getting the desired returns from more traditional investments and Inflation eroding fiat currency in the aftermath
bobski1 said:
Will be starting to overpay the mortgage now the emergency pile is sufficient. But also wanted to try put some money into something in order for it to start earning a little on its own.
What is a low cost market tracker?
Vanguard Lifestrategy or read the IM sticky at the top of the forum.What is a low cost market tracker?
bobski1 said:
Will be starting to overpay the mortgage now the emergency pile is sufficient. But also wanted to try put some money into something in order for it to start earning a little on its own.
What is a low cost market tracker?
Bear in mind with investing you need to be looking long term .What is a low cost market tracker?
If your thinking your going buy some cheap oil shares then flog them in a few months and use that for the mortgage i doubt that'll happen.
egor110 said:
Bear in mind with investing you need to be looking long term .
If your thinking your going buy some cheap oil shares then flog them in a few months and use that for the mortgage i doubt that'll happen.
Yes I prefer to do long term investments but eventually I would also do short term ones and also sell at various stages to pay off chunksIf your thinking your going buy some cheap oil shares then flog them in a few months and use that for the mortgage i doubt that'll happen.
bobski1 said:
egor110 said:
Bear in mind with investing you need to be looking long term .
If your thinking your going buy some cheap oil shares then flog them in a few months and use that for the mortgage i doubt that'll happen.
Yes I prefer to do long term investments but eventually I would also do short term ones and also sell at various stages to pay off chunksIf your thinking your going buy some cheap oil shares then flog them in a few months and use that for the mortgage i doubt that'll happen.
Far better to set up your index tracker and pay in weekly/monthly and constantly buy so your hedging your bet rather than trying to buy at the cheapest price.
Gassing Station | Finance | Top of Page | What's New | My Stuff