Great to hear your new years resolutions. Glad to hear your hand is healing well Tommy! When it comes to tax relief, don't forget SIPPs and charitable giving. These tools have served me well in the past. Happy 2024!!
Tommy makes a fair point about cash not being inflation proof when it comes to Ed's LISA, however, had you factored in the govt 25% bonus in addition to any interest earned? Will be good to hear if you're able to transfer it to a stocks & shares LISA. Happy New Year!
Happy and £prosperous NY to you. The 25% bonus is good but cash is a terrible long term investment and since Ed’s going to have this for 20 years it really should be invested. Cash = 25% bonus plus 1% return if lucky. Globally diversified stocks =25% +6% historically.
Thanks. Completely forgot to apply the 25% to S&S LISA. For those wanting to use LISA as a vehicle to save a deposit for their first home, to benefit from the govt 25%, cash might be wiser, as you may need the liquidity. For long-term investment, S&S wins. DOI - I'm too old to open a LISA, but will encourage my 19 year old to open one.
When youre putting money into your funds to accrew from early working years- have you/would you ever take sums out for costs such as first house payments (Im thinking you will have to save up money to put a deposit down, so would it be worth putting in an index whilst you are accumulating and then pulling it out)? (Im interested in your experience of doing things)
Great question. Very important to match your investments to your goals. So for long term goals > 5 years you might hold 100% equities DYOR. But for shorter goals
And also sometimes a good way to invest is to buy an asset ..to do that i need to have cash liquid...so i need to save money? If its invested then i cant just buy the asset.
Great to hear your new years resolutions. Glad to hear your hand is healing well Tommy!
When it comes to tax relief, don't forget SIPPs and charitable giving. These tools have served me well in the past.
Happy 2024!!
❤️❤️❤️ Good tax relief tips.
Tommy makes a fair point about cash not being inflation proof when it comes to Ed's LISA, however, had you factored in the govt 25% bonus in addition to any interest earned?
Will be good to hear if you're able to transfer it to a stocks & shares LISA.
Happy New Year!
Happy and £prosperous NY to you.
The 25% bonus is good but cash is a terrible long term investment and since Ed’s going to have this for 20 years it really should be invested. Cash = 25% bonus plus 1% return if lucky. Globally diversified stocks =25% +6% historically.
Thanks. Completely forgot to apply the 25% to S&S LISA.
For those wanting to use LISA as a vehicle to save a deposit for their first home, to benefit from the govt 25%, cash might be wiser, as you may need the liquidity. For long-term investment, S&S wins.
DOI - I'm too old to open a LISA, but will encourage my 19 year old to open one.
Will Ed be able to share who he chose as a S&S LISA provider in future?
When youre putting money into your funds to accrew from early working years- have you/would you ever take sums out for costs such as first house payments (Im thinking you will have to save up money to put a deposit down, so would it be worth putting in an index whilst you are accumulating and then pulling it out)?
(Im interested in your experience of doing things)
Great question.
Very important to match your investments to your goals.
So for long term goals > 5 years you might hold 100% equities DYOR.
But for shorter goals
What do i invest in?? The recommendation to invest.. But into what? I want to make sure it is atleast a bit ethical.
And also sometimes a good way to invest is to buy an asset ..to do that i need to have cash liquid...so i need to save money? If its invested then i cant just buy the asset.
Also i feel like it continues to prop up this f'd up market.