interest rates are truly awful for savers right now. Stocks and shares you can get decent returns. There are also apps you can use to invest in (etoro, swissborg) cryptocurrencies so it's not really beyond anybody's reach and you would want to be able to react quickly. You can follow other investors moves automatically if you don't have time to stay on top of it.
A few £100 quid in premium bonds though isn't a bad shout. zero risk and can win a million quid.
comment by super phoenix rangers - comments on this forum are not mine but a fictionalised version loosely based on someone similar to me (U14864)
posted 1 minute ago
interest rates are truly awful for savers right now. Stocks and shares you can get decent returns. There are also apps you can use to invest in (etoro, swissborg) cryptocurrencies so it's not really beyond anybody's reach and you would want to be able to react quickly. You can follow other investors moves automatically if you don't have time to stay on top of it.
A few £100 quid in premium bonds though isn't a bad shout. zero risk and can win a million quid.
----------------------------------------------------------------------
Im sorry, can you please explain that last bit! Zero risk and can win a million quid
comment by Joe-ny Stokes is my da (U15888)
posted 0 seconds ago
comment by super phoenix rangers - comments on this forum are not mine but a fictionalised version loosely based on someone similar to me (U14864)
posted 1 minute ago
interest rates are truly awful for savers right now. Stocks and shares you can get decent returns. There are also apps you can use to invest in (etoro, swissborg) cryptocurrencies so it's not really beyond anybody's reach and you would want to be able to react quickly. You can follow other investors moves automatically if you don't have time to stay on top of it.
A few £100 quid in premium bonds though isn't a bad shout. zero risk and can win a million quid.
----------------------------------------------------------------------
Im sorry, can you please explain that last bit! Zero risk and can win a million quid
----------------------------------------------------------------------
Just done a bit of research! I do like that tbh. Maybe split between stocks/shares and premium bonds
comment by Joe-ny Stokes is my da (U15888)
posted 34 seconds ago
comment by super phoenix rangers - comments on this forum are not mine but a fictionalised version loosely based on someone similar to me (U14864)
posted 1 minute ago
interest rates are truly awful for savers right now. Stocks and shares you can get decent returns. There are also apps you can use to invest in (etoro, swissborg) cryptocurrencies so it's not really beyond anybody's reach and you would want to be able to react quickly. You can follow other investors moves automatically if you don't have time to stay on top of it.
A few £100 quid in premium bonds though isn't a bad shout. zero risk and can win a million quid.
----------------------------------------------------------------------
Im sorry, can you please explain that last bit! Zero risk and can win a million quid
----------------------------------------------------------------------
You put your money in. Then you take it back out when you want. While it's in you have a chance of winning in the draws.
The more you put in, the more chance you have of winning.
Do any of you invest in them? and who with?
Main one i can see is NS&I?
Pensions are good simply because of the tax benefits. Others on here know more about that than me.
Stocks and shares ISA..Maybe Vanguard?
I wouldn't advise anyone to get I to crypto but I've been into it fairly heavily over the past 6 months of so. I've made between 3 and 6 x my money depending in when I got in
Bitcoin has made massive gains already but April is traditionally a big month. Lots of institutions betting on it hitting $80k by the end of April and that still a 30% increase from here. You would have other costs of course.
As I said, I wouldn't encourage it as it's potentially very volatile. Just addressing your point about it being too late.
It will almost certainly hit $100k and beyond. Its likely that you could double your money in less than a couple of years. That's hard to do these days unless you can dedicate a lot of time to it
It will almost certainly hit $100k and beyond. Its likely that you could double your money in less than a couple of years. That's hard to do these days unless you can dedicate a lot of time to it
-----------------
Do you think?
In that case, surely id be as well sticking as much cash into that as possible then?
Well, extra cash
I don't know your work situation but I pay the max in to my pension scheme at work currently 6% matched and next year I have the option of going to 7% and the company paying 11%.
Also we have a share save scheme which is currently paying about 40% (ftse 100 tech firm) so I lump 150 a month in that on 2 different accounts on three year terms. You can't touch your money though over these 3 years terms however as an employee you also can't lose your your investment so worse case its a savings account with no interest should the stock dive.
Solid long terms investments hopefully.
comment by Thomas Brown Hewitt (U22336)
posted 2 minutes ago
I don't know your work situation but I pay the max in to my pension scheme at work currently 6% matched and next year I have the option of going to 7% and the company paying 11%.
Also we have a share save scheme which is currently paying about 40% (ftse 100 tech firm) so I lump 150 a month in that on 2 different accounts on three year terms. You can't touch your money though over these 3 years terms however as an employee you also can't lose your your investment so worse case its a savings account with no interest should the stock dive.
Solid long terms investments hopefully.
----------------------------------------------------------------------
Unfortunately my work doesnt have a share save
I used to but different company! It needs to be something i can access regardless of where i go and preferably risk free - ish
comment by Joe-ny Stokes is my da (U15888)
posted 12 minutes ago
It will almost certainly hit $100k and beyond. Its likely that you could double your money in less than a couple of years. That's hard to do these days unless you can dedicate a lot of time to it
-----------------
Do you think?
In that case, surely id be as well sticking as much cash into that as possible then?
Well, extra cash
----------------------------------------------------------------------
It could go to $200k. It could also go to $40k
IMO you shouldn't go near it unless you can afford to take a beating.
just give it to tommy robinson mate and he will invest it wisely in your interests...
boom.
morning.
comment by JFK - The Rebel Treble (U8919)
posted 1 minute ago
just give it to tommy robinson mate and he will invest it wisely in your interests...
boom.
morning.
----------------------------------------------------------------------
Who the feck is Tommy Robinson
Best finding out what your attitude to risk is first, and then your ability to take a risk.
Crypto currency and single company shares are at the higher end-premium bonds at the lower end of risk.
You can find tools on line that’ll help you see your natural attitude to risk (normally psychometric tests), and use a website like trustnet for fund research (it’s free).
If you don’t mind the chance of losing your money, stick to single company shares and similar. If you don’t have that position, then you need to diversify and spread your money out over as many companies and areas as you can.
If people like elon musk keep backing it crypto will keep going up.
Like others say though most efficient savings is paying whatever your employer will match in a pension. Its free money and you pay in before tax. Obviously its locked away until you are deed or retired.
employee Share saves / Share purchase schemes are also free money at 0 risk and are pretty much the only type of EBT scheme still allowed, although i don't think there are many tax free ones these days.
For premium bonds Ns&I are the only provider, its government savings. Anyhtingelse that says they provide them is a scam.
ISA's are more to protect you from capital gains tax and unless you expect to make that level of gain per year then probably not worth the admin fee. If you do end up with a nice chunky stocks and shares portfolio then i would advise you to start moving them to one, you can only move a certain amount per year but its up to £20,000 these days. When I was a broker it was only £7,000.
On the crypto yes it will probably hit those heights but it will have lows along the way. If you needed to access your cash quick as you say then you could easily find its 20% less what you put in, only for the next day elon musk to tweet about it and its now worth double but you have missed out. Its so volatile you can see such movements.
My advice on crypto would be unless you are either happy to leave it or can spare the time to check it on a daily basis then its not for you
Long and short max out what ever your employer will match in your pension and or share purchase (tax free so no brainer) / share save (0 risk as if price goes down you get money back at end of saving period)
Then have a look at apps like etoro, no commission can invest in stocks and crypto and follow other investors if you don't have time to manage yourself and whack some in premium bonds
comment by super phoenix rangers - comments on this forum are not mine but a fictionalised version loosely based on someone similar to me (U14864)
posted 1 minute ago
If people like elon musk keep backing it crypto will keep going up.
Like others say though most efficient savings is paying whatever your employer will match in a pension. Its free money and you pay in before tax. Obviously its locked away until you are deed or retired.
employee Share saves / Share purchase schemes are also free money at 0 risk and are pretty much the only type of EBT scheme still allowed, although i don't think there are many tax free ones these days.
For premium bonds Ns&I are the only provider, its government savings. Anyhtingelse that says they provide them is a scam.
ISA's are more to protect you from capital gains tax and unless you expect to make that level of gain per year then probably not worth the admin fee. If you do end up with a nice chunky stocks and shares portfolio then i would advise you to start moving them to one, you can only move a certain amount per year but its up to £20,000 these days. When I was a broker it was only £7,000.
On the crypto yes it will probably hit those heights but it will have lows along the way. If you needed to access your cash quick as you say then you could easily find its 20% less what you put in, only for the next day elon musk to tweet about it and its now worth double but you have missed out. Its so volatile you can see such movements.
My advice on crypto would be unless you are either happy to leave it or can spare the time to check it on a daily basis then its not for you
Long and short max out what ever your employer will match in your pension and or share purchase (tax free so no brainer) / share save (0 risk as if price goes down you get money back at end of saving period)
Then have a look at apps like etoro, no commission can invest in stocks and crypto and follow other investors if you don't have time to manage yourself and whack some in premium bonds
----------------------------------------------------------------------
Sound advice! Thanks very much
Ive just been splitting cash between a credit union and a bank esaver account but find im not really getting much back
comment by Joe-ny Stokes is my da (U15888)
posted 28 minutes ago
Do any of you invest in them? and who with?
Main one i can see is NS&I?
----------------------------------------------------------------------
NSandI are the only source. It’s the government, mate! When rates were good 1H2020 they pulled in £38bn of ‘lending’ from savers like you then they dropped the rate to match the market end of last year. Currently pays out 1% which is probably more than you’ll get in any instant access savings account.
Had a massive argument with someone on here about that ‘rate’ some years ago. It might not immediately work for small amounts or those held for short periods but it is a real 1%.
Long-term holds........
Bitcoin, Cardano and possibly the best of the lot, Theta.
Buy, store, sit back and relax.
Morning op
I work in finance and have a little bit of experience with this (both personally and for other people).
People here have given good advice, but I will ask. When you say cleared down all your debts, do you mean all of them?
If you have a mortgage for example, you’d probably be better off overpaying on that (I do this a lot) than you would buying shares. It’s basically risk free, and guarantees you save in interest in the future (assuming you have a mortgage that allows you to overpay).
Same thing can be said for things like car loans. My general advice would be to only play around with shares if you’re completely debt free, or you have enough disposable income that you have a higher risk attitude.
A lot of my savings is in Premium Bonds. I had a job for a year with minimal pension input so I put what would normally be my pension amount into bonds.
It's safer than a bank and if I get any wins it will probably balance out any interest I'd have got elsewhere
The only debt i have is a mortgage and a car loan.
No loans, credit cards or store credit
comment by Joe-ny Stokes is my da (U15888)
posted 1 minute ago
The only debt i have is a mortgage and a car loan.
No loans, credit cards or store credit
----------------------------------------------------------------------
Get overpaying on your mortgage mate. In terms of your long term wealth it’ll help massively. Especially if interest rates go up in the future.
Forget paying down debt. Gold and bullets.....
Shoot the people you owe money to.
comment by vidicthelegend VIVA LA REVOLUTION (U8735)
posted 4 minutes ago
comment by Joe-ny Stokes is my da (U15888)
posted 1 minute ago
The only debt i have is a mortgage and a car loan.
No loans, credit cards or store credit
----------------------------------------------------------------------
Get overpaying on your mortgage mate. In terms of your long term wealth it’ll help massively. Especially if interest rates go up in the future.
----------------------------------------------------------------------
Agree.
Even if on a fixed term you can usually overpay by up to 10% per year. Check with your provider 1st.
If you are paying more in interest than you are gaining from saving then you are infact losing money.
Matched pension contributions though still a no brainer
Sign in if you want to comment
Savings/Investments
Page 1 of 4
posted on 30/3/21
interest rates are truly awful for savers right now. Stocks and shares you can get decent returns. There are also apps you can use to invest in (etoro, swissborg) cryptocurrencies so it's not really beyond anybody's reach and you would want to be able to react quickly. You can follow other investors moves automatically if you don't have time to stay on top of it.
A few £100 quid in premium bonds though isn't a bad shout. zero risk and can win a million quid.
posted on 30/3/21
comment by super phoenix rangers - comments on this forum are not mine but a fictionalised version loosely based on someone similar to me (U14864)
posted 1 minute ago
interest rates are truly awful for savers right now. Stocks and shares you can get decent returns. There are also apps you can use to invest in (etoro, swissborg) cryptocurrencies so it's not really beyond anybody's reach and you would want to be able to react quickly. You can follow other investors moves automatically if you don't have time to stay on top of it.
A few £100 quid in premium bonds though isn't a bad shout. zero risk and can win a million quid.
----------------------------------------------------------------------
Im sorry, can you please explain that last bit! Zero risk and can win a million quid
posted on 30/3/21
comment by Joe-ny Stokes is my da (U15888)
posted 0 seconds ago
comment by super phoenix rangers - comments on this forum are not mine but a fictionalised version loosely based on someone similar to me (U14864)
posted 1 minute ago
interest rates are truly awful for savers right now. Stocks and shares you can get decent returns. There are also apps you can use to invest in (etoro, swissborg) cryptocurrencies so it's not really beyond anybody's reach and you would want to be able to react quickly. You can follow other investors moves automatically if you don't have time to stay on top of it.
A few £100 quid in premium bonds though isn't a bad shout. zero risk and can win a million quid.
----------------------------------------------------------------------
Im sorry, can you please explain that last bit! Zero risk and can win a million quid
----------------------------------------------------------------------
Just done a bit of research! I do like that tbh. Maybe split between stocks/shares and premium bonds
posted on 30/3/21
comment by Joe-ny Stokes is my da (U15888)
posted 34 seconds ago
comment by super phoenix rangers - comments on this forum are not mine but a fictionalised version loosely based on someone similar to me (U14864)
posted 1 minute ago
interest rates are truly awful for savers right now. Stocks and shares you can get decent returns. There are also apps you can use to invest in (etoro, swissborg) cryptocurrencies so it's not really beyond anybody's reach and you would want to be able to react quickly. You can follow other investors moves automatically if you don't have time to stay on top of it.
A few £100 quid in premium bonds though isn't a bad shout. zero risk and can win a million quid.
----------------------------------------------------------------------
Im sorry, can you please explain that last bit! Zero risk and can win a million quid
----------------------------------------------------------------------
You put your money in. Then you take it back out when you want. While it's in you have a chance of winning in the draws.
The more you put in, the more chance you have of winning.
posted on 30/3/21
Do any of you invest in them? and who with?
Main one i can see is NS&I?
posted on 30/3/21
Pensions are good simply because of the tax benefits. Others on here know more about that than me.
Stocks and shares ISA..Maybe Vanguard?
I wouldn't advise anyone to get I to crypto but I've been into it fairly heavily over the past 6 months of so. I've made between 3 and 6 x my money depending in when I got in
Bitcoin has made massive gains already but April is traditionally a big month. Lots of institutions betting on it hitting $80k by the end of April and that still a 30% increase from here. You would have other costs of course.
As I said, I wouldn't encourage it as it's potentially very volatile. Just addressing your point about it being too late.
It will almost certainly hit $100k and beyond. Its likely that you could double your money in less than a couple of years. That's hard to do these days unless you can dedicate a lot of time to it
posted on 30/3/21
It will almost certainly hit $100k and beyond. Its likely that you could double your money in less than a couple of years. That's hard to do these days unless you can dedicate a lot of time to it
-----------------
Do you think?
In that case, surely id be as well sticking as much cash into that as possible then?
Well, extra cash
posted on 30/3/21
I don't know your work situation but I pay the max in to my pension scheme at work currently 6% matched and next year I have the option of going to 7% and the company paying 11%.
Also we have a share save scheme which is currently paying about 40% (ftse 100 tech firm) so I lump 150 a month in that on 2 different accounts on three year terms. You can't touch your money though over these 3 years terms however as an employee you also can't lose your your investment so worse case its a savings account with no interest should the stock dive.
Solid long terms investments hopefully.
posted on 30/3/21
comment by Thomas Brown Hewitt (U22336)
posted 2 minutes ago
I don't know your work situation but I pay the max in to my pension scheme at work currently 6% matched and next year I have the option of going to 7% and the company paying 11%.
Also we have a share save scheme which is currently paying about 40% (ftse 100 tech firm) so I lump 150 a month in that on 2 different accounts on three year terms. You can't touch your money though over these 3 years terms however as an employee you also can't lose your your investment so worse case its a savings account with no interest should the stock dive.
Solid long terms investments hopefully.
----------------------------------------------------------------------
Unfortunately my work doesnt have a share save
I used to but different company! It needs to be something i can access regardless of where i go and preferably risk free - ish
posted on 30/3/21
comment by Joe-ny Stokes is my da (U15888)
posted 12 minutes ago
It will almost certainly hit $100k and beyond. Its likely that you could double your money in less than a couple of years. That's hard to do these days unless you can dedicate a lot of time to it
-----------------
Do you think?
In that case, surely id be as well sticking as much cash into that as possible then?
Well, extra cash
----------------------------------------------------------------------
It could go to $200k. It could also go to $40k
IMO you shouldn't go near it unless you can afford to take a beating.
posted on 30/3/21
just give it to tommy robinson mate and he will invest it wisely in your interests...
boom.
morning.
posted on 30/3/21
comment by JFK - The Rebel Treble (U8919)
posted 1 minute ago
just give it to tommy robinson mate and he will invest it wisely in your interests...
boom.
morning.
----------------------------------------------------------------------
Who the feck is Tommy Robinson
posted on 30/3/21
Best finding out what your attitude to risk is first, and then your ability to take a risk.
Crypto currency and single company shares are at the higher end-premium bonds at the lower end of risk.
You can find tools on line that’ll help you see your natural attitude to risk (normally psychometric tests), and use a website like trustnet for fund research (it’s free).
If you don’t mind the chance of losing your money, stick to single company shares and similar. If you don’t have that position, then you need to diversify and spread your money out over as many companies and areas as you can.
posted on 30/3/21
If people like elon musk keep backing it crypto will keep going up.
Like others say though most efficient savings is paying whatever your employer will match in a pension. Its free money and you pay in before tax. Obviously its locked away until you are deed or retired.
employee Share saves / Share purchase schemes are also free money at 0 risk and are pretty much the only type of EBT scheme still allowed, although i don't think there are many tax free ones these days.
For premium bonds Ns&I are the only provider, its government savings. Anyhtingelse that says they provide them is a scam.
ISA's are more to protect you from capital gains tax and unless you expect to make that level of gain per year then probably not worth the admin fee. If you do end up with a nice chunky stocks and shares portfolio then i would advise you to start moving them to one, you can only move a certain amount per year but its up to £20,000 these days. When I was a broker it was only £7,000.
On the crypto yes it will probably hit those heights but it will have lows along the way. If you needed to access your cash quick as you say then you could easily find its 20% less what you put in, only for the next day elon musk to tweet about it and its now worth double but you have missed out. Its so volatile you can see such movements.
My advice on crypto would be unless you are either happy to leave it or can spare the time to check it on a daily basis then its not for you
Long and short max out what ever your employer will match in your pension and or share purchase (tax free so no brainer) / share save (0 risk as if price goes down you get money back at end of saving period)
Then have a look at apps like etoro, no commission can invest in stocks and crypto and follow other investors if you don't have time to manage yourself and whack some in premium bonds
posted on 30/3/21
comment by super phoenix rangers - comments on this forum are not mine but a fictionalised version loosely based on someone similar to me (U14864)
posted 1 minute ago
If people like elon musk keep backing it crypto will keep going up.
Like others say though most efficient savings is paying whatever your employer will match in a pension. Its free money and you pay in before tax. Obviously its locked away until you are deed or retired.
employee Share saves / Share purchase schemes are also free money at 0 risk and are pretty much the only type of EBT scheme still allowed, although i don't think there are many tax free ones these days.
For premium bonds Ns&I are the only provider, its government savings. Anyhtingelse that says they provide them is a scam.
ISA's are more to protect you from capital gains tax and unless you expect to make that level of gain per year then probably not worth the admin fee. If you do end up with a nice chunky stocks and shares portfolio then i would advise you to start moving them to one, you can only move a certain amount per year but its up to £20,000 these days. When I was a broker it was only £7,000.
On the crypto yes it will probably hit those heights but it will have lows along the way. If you needed to access your cash quick as you say then you could easily find its 20% less what you put in, only for the next day elon musk to tweet about it and its now worth double but you have missed out. Its so volatile you can see such movements.
My advice on crypto would be unless you are either happy to leave it or can spare the time to check it on a daily basis then its not for you
Long and short max out what ever your employer will match in your pension and or share purchase (tax free so no brainer) / share save (0 risk as if price goes down you get money back at end of saving period)
Then have a look at apps like etoro, no commission can invest in stocks and crypto and follow other investors if you don't have time to manage yourself and whack some in premium bonds
----------------------------------------------------------------------
Sound advice! Thanks very much
Ive just been splitting cash between a credit union and a bank esaver account but find im not really getting much back
posted on 30/3/21
comment by Joe-ny Stokes is my da (U15888)
posted 28 minutes ago
Do any of you invest in them? and who with?
Main one i can see is NS&I?
----------------------------------------------------------------------
NSandI are the only source. It’s the government, mate! When rates were good 1H2020 they pulled in £38bn of ‘lending’ from savers like you then they dropped the rate to match the market end of last year. Currently pays out 1% which is probably more than you’ll get in any instant access savings account.
Had a massive argument with someone on here about that ‘rate’ some years ago. It might not immediately work for small amounts or those held for short periods but it is a real 1%.
posted on 30/3/21
Long-term holds........
Bitcoin, Cardano and possibly the best of the lot, Theta.
Buy, store, sit back and relax.
posted on 30/3/21
Gold and bullets...……...
posted on 30/3/21
Morning op
I work in finance and have a little bit of experience with this (both personally and for other people).
People here have given good advice, but I will ask. When you say cleared down all your debts, do you mean all of them?
If you have a mortgage for example, you’d probably be better off overpaying on that (I do this a lot) than you would buying shares. It’s basically risk free, and guarantees you save in interest in the future (assuming you have a mortgage that allows you to overpay).
Same thing can be said for things like car loans. My general advice would be to only play around with shares if you’re completely debt free, or you have enough disposable income that you have a higher risk attitude.
posted on 30/3/21
A lot of my savings is in Premium Bonds. I had a job for a year with minimal pension input so I put what would normally be my pension amount into bonds.
It's safer than a bank and if I get any wins it will probably balance out any interest I'd have got elsewhere
posted on 30/3/21
The only debt i have is a mortgage and a car loan.
No loans, credit cards or store credit
posted on 30/3/21
comment by Joe-ny Stokes is my da (U15888)
posted 1 minute ago
The only debt i have is a mortgage and a car loan.
No loans, credit cards or store credit
----------------------------------------------------------------------
Get overpaying on your mortgage mate. In terms of your long term wealth it’ll help massively. Especially if interest rates go up in the future.
posted on 30/3/21
Forget paying down debt. Gold and bullets.....
Shoot the people you owe money to.
posted on 30/3/21
comment by vidicthelegend VIVA LA REVOLUTION (U8735)
posted 4 minutes ago
comment by Joe-ny Stokes is my da (U15888)
posted 1 minute ago
The only debt i have is a mortgage and a car loan.
No loans, credit cards or store credit
----------------------------------------------------------------------
Get overpaying on your mortgage mate. In terms of your long term wealth it’ll help massively. Especially if interest rates go up in the future.
----------------------------------------------------------------------
Agree.
Even if on a fixed term you can usually overpay by up to 10% per year. Check with your provider 1st.
If you are paying more in interest than you are gaining from saving then you are infact losing money.
Matched pension contributions though still a no brainer
posted on 30/3/21
Page 1 of 4