Clever Finance People - What to trickle my money into?
Discussion
I don't have any lump sums available. Well. An ISA but that's staying put (it's there to minimise my income tax a bit). And I know I can put a certain amount in per year.
Now, I have my dividends for spending once a quarter, which I'll probably use to buy my first house when the market looks a bit cleverer
But, I have a cash income as well that currently just gets spent (with the new dividends and a minimal monthly salary that will change).
So what should I be looking at to squirrel Approx £400 a week into? I'm tempted to take up flying again, but I'd rather watch it grow I think in the current climate. Any clever stuff I can learn about the stock market? I don't mind a bit of risk, it's only money I'd spend on beer and strippers
Cheers
Now, I have my dividends for spending once a quarter, which I'll probably use to buy my first house when the market looks a bit cleverer
But, I have a cash income as well that currently just gets spent (with the new dividends and a minimal monthly salary that will change).
So what should I be looking at to squirrel Approx £400 a week into? I'm tempted to take up flying again, but I'd rather watch it grow I think in the current climate. Any clever stuff I can learn about the stock market? I don't mind a bit of risk, it's only money I'd spend on beer and strippers
Cheers
Forget about HSBC's rates - look at ICICI bank's rates for good instant access and 7% fixed for a year or try www.monefacts.co.uk for others. But you may feel comfortable checking on the limits of the deposit guarantee scheme, just in case you believe that there's a reason why they're offering such a high rate.
For risk, scan the forums - for example I've just bought (a very small number of) shares in Begbies Traynor as I fancy that insolvency practitioners will, after the next 6 months or so, be very busy. But as they're AIM listed, certainly not a widows and orphans stock. It's usually better to do your own research than believe the recommendations of others (and that includes mine).
For risk, scan the forums - for example I've just bought (a very small number of) shares in Begbies Traynor as I fancy that insolvency practitioners will, after the next 6 months or so, be very busy. But as they're AIM listed, certainly not a widows and orphans stock. It's usually better to do your own research than believe the recommendations of others (and that includes mine).
What kind of time horizion are you looking at investing for ?
Personally I would put a portion of it into Equity Index ETFs/trackers, here and probably a small amount in the US.
But I am sure you're fully aware of that possibility, so sorry I haven't got anything slightly more interesting to add!
No no, please assume I'm new to investing.
I understand how trackers work, but clearly there are many of them available - and all following different markets.
The idea being (according to the fool website) is that when the price rises, you buy less, and when the price falls you buy more. Simplest way to do this is to just buy a fixed amount every month for 20 years. Hardly my idea of fun. It may be a prudent enough safety net for later life, but I think I can do better with the majority of my spare income.
I understand how trackers work, but clearly there are many of them available - and all following different markets.
The idea being (according to the fool website) is that when the price rises, you buy less, and when the price falls you buy more. Simplest way to do this is to just buy a fixed amount every month for 20 years. Hardly my idea of fun. It may be a prudent enough safety net for later life, but I think I can do better with the majority of my spare income.
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