Young investment ideas
Discussion
Hi, I'm new to investment/finical world so go easy
I'm 26 with healthy income of let say 100k ish.
I've got a good pension scheme(public sector) and have recently moved to a bigger house, renting my old one (130k) for £550 PCM which I use to overpay the mortgage with as it's a pre-crisis tracker repayments £200 ish PCM.
I max out my cash ISA allowance each year with typical interest of 3%. What would be sensible way of investing my money,
I always fancy cheap rental places. You can get flat here for 70-100k that would rent for around £500 PCM. I feel that houses are secure and inflation proof, or as near as you can get to it.
I know nothing of shares other than you can win or lose big! I did hear good things about fine wine. I have a tvr sagaris before somebody suggests buying a car! Though open to ideas of classics!
I'm 26 with healthy income of let say 100k ish.
I've got a good pension scheme(public sector) and have recently moved to a bigger house, renting my old one (130k) for £550 PCM which I use to overpay the mortgage with as it's a pre-crisis tracker repayments £200 ish PCM.
I max out my cash ISA allowance each year with typical interest of 3%. What would be sensible way of investing my money,
I always fancy cheap rental places. You can get flat here for 70-100k that would rent for around £500 PCM. I feel that houses are secure and inflation proof, or as near as you can get to it.
I know nothing of shares other than you can win or lose big! I did hear good things about fine wine. I have a tvr sagaris before somebody suggests buying a car! Though open to ideas of classics!
Snap! You're asking almost the exact same question that I am in my thread about saving for the future 
Your budget is slightly better than mine however, I'm impressed you're doing that well from the public sector, especially at 26! Out of interest, do you mind me asking what line of work it is? I'm curious to know where I'm going wrong lol.
Have you looked at the Unit Trusts over at trustnet? I'm looking at those at the moment, my folks invested in them over the years on a month by month basis and the growth over the long term has been superb. My big concern is whether that trend will continue over the next 20 years!
Your budget is slightly better than mine however, I'm impressed you're doing that well from the public sector, especially at 26! Out of interest, do you mind me asking what line of work it is? I'm curious to know where I'm going wrong lol.
Have you looked at the Unit Trusts over at trustnet? I'm looking at those at the moment, my folks invested in them over the years on a month by month basis and the growth over the long term has been superb. My big concern is whether that trend will continue over the next 20 years!
Ah that explains it, I do wish I'd studied for a proper skill when I was at uni lol.
Anyway, back on topic, definitely check out trustnet, although depending on your saveable income I'd say that BTL should be easy to get into, I'd imagine you could build quite a good portfolio over a few years if you make good use of interest only mortgages etc.
Anyway, back on topic, definitely check out trustnet, although depending on your saveable income I'd say that BTL should be easy to get into, I'd imagine you could build quite a good portfolio over a few years if you make good use of interest only mortgages etc.
pauldavies85 said:
I always fancy cheap rental places. You can get flat here for 70-100k that would rent for around £500 PCM. I feel that houses are secure and inflation proof, or as near as you can get to it.
I would go for this if you can achieve 7%+ yield on the buy to let property and still have potential for capital gain in the long term. I think it'll be difficult to achieve more without taking high risk. NB that renting is not low risk as tenants can sometime stop paying their rent and it can cost a lot to get rid of them!Paul,
Your occupational pension scheme is going to form the backbone of how things pan out for you, financially. So, are you absolutely familiar with it, and the possibilities that it offers you? Get that etched in your brain first. Look at the pros and cons of property rental before you even start looking at the potential gains.. is it a suitable course of action, in principle to what you might need and not just what sounds good? For instance, do you want to set up private practice? If so, a pension (stakeholder or Personal) could be used now, before moving your funds into a SIPP or SSAS (both pensions), which may then be used (limits apply) to help get your private practice started. In essence, you become an asset of your own pension fund.
Get the over arching strategy right before you start looking at the fine detail (specific Unit Trusts etc). The funds are the building blocks and simply facilitate the strategy. Don't get so fixated with something that floats your boat, or with the nitty gritty detail that you become so obsessed with what's under the bonnet that you can't even see if you're on the right road in the first place.
Your occupational pension scheme is going to form the backbone of how things pan out for you, financially. So, are you absolutely familiar with it, and the possibilities that it offers you? Get that etched in your brain first. Look at the pros and cons of property rental before you even start looking at the potential gains.. is it a suitable course of action, in principle to what you might need and not just what sounds good? For instance, do you want to set up private practice? If so, a pension (stakeholder or Personal) could be used now, before moving your funds into a SIPP or SSAS (both pensions), which may then be used (limits apply) to help get your private practice started. In essence, you become an asset of your own pension fund.
Get the over arching strategy right before you start looking at the fine detail (specific Unit Trusts etc). The funds are the building blocks and simply facilitate the strategy. Don't get so fixated with something that floats your boat, or with the nitty gritty detail that you become so obsessed with what's under the bonnet that you can't even see if you're on the right road in the first place.
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