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Should I invest or save for a house?
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- Опубліковано 17 сер 2024
- Buy a house or invest instead? A question a few of you have asked and I have battled with personally, I used to think 'why can't I just invest my house deposit?'
In today's video I give you my thoughts on if I think you should invest or save for your first home? And what my thoughts are on Investing your house deposit in stocks and shares.
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🕑 Timestamps:
00:00 - Introduction
00:20 - The UK’s Obsession with property
02:44 - Discovering investing
03:09 - The problem
03:29 - The pros and cons
08:00 - Should i invest my house deposit?
09:10 - How i would save the funds/Free 25%
011:49 - Quick giveaway announcement.
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Disclaimer: Any information provided in this video is meant purely for entertainment purposes and does not constitute any form of recommendation, They are simply my opinions. If you want financial advice tailored to your circumstances please consult with a licensed professional.
Not trying to gas you up or anything mate but your channel is the best investing channel i've found on YT. And I've found some really good ones. Seriously, keep it up!
Thank you very much mate! really appreciate this comment considering how big some of the other Finance channels are on here!
@@DamienTalksMoney Definitely a great channel, really appreciate the research that goes into it. Saves me so much time not needing to do the research myself. So thanks
@jeffrey asante don't worry mate you'll get there too
@@tmockinbird We'll both get there mate
Too many people live outside their means. Financial education like yours is gonna save lives.
Thanks mate! Its a joke they don't teach this stuff in schools IMO. How many young people get into states of depression over money, when it doesn't need to be like that
Exactly, everybody complains about having no money but got to spend thousands a year for that new iPhone 😐
@@mattpowell8861 bang on, I pay £5 a month for my phone data, and bought it second hand. Easy savings.
@@DamienTalksMoney trust me i wish i knew this stuff when i was younger i've spent most of my twenties pissing my money up the wall and not thinking enough about my future but its better late than never
@@DamienTalksMoney ....that would have been me for almost 10 years, mate :-( Not anymore though in part thanks to channels like yours :-)
Love this channel, no bullshit click bait thumbnails with 'turn £1 into £1 million', everything is practical.
Yes! this comment means the world. Last thing I want is to put out pointless clickbait.
Your editing is really entertaining and I like your perspective of buying vs renting.
Thank you! really appreciate your feedback.
Damo
A big part of the reason why renting is so unpopular in the UK are the rules. You can't decorate / make the home yours, you are always at risk of eviction if the landlord decides to sell. You also have to put up with the over-the-top rules on rented property that are standard now. E.g. no pets, regular "inspections", not allowed to hang pictures, etc.
I find the British perspective on buying so interesting - my partner is British and I'm German, and I've been a life-long renter, my parents have rented their whole lives and I'd be fine with that but he really wants to buy! I guess it makes a lot of sense in the south where rent prices tend to be a lot higher than where I'm from in Germany. Great video! :D
Always blows my mind other parts of the world do not see a point in buying. Thank you for sharing your perspective!
Just came across your channel when researching for index funds and really liked your content mate! keep up the good work!
Thank you! Appreciate this feedback from a fellow creator like yourself
@@DamienTalksMoney 👍🙏🏼
Hi Damo, just wanted to thank you and say these videos are brilliant!
You’ve got the mix of engaging and very informative down to a t, and the effort put into editing doesn’t go unnoticed.
I sincerely hope you keep posting, I think you’re on to a real winner here!
This is probably one of the best comments I have had so far.
Really appreciate this feedback Alastair!
Makes the countless hours sat at my computer editing all worth it!
Damo
No because this is the best video from the U.K. that’s helped with understanding saving and investing and I have more clearer idea of what I want and it’s edited well that it’s not boring. Thank you !
You are very welcome! thank you
These vids are spot on: succinct, impartial, entertaining and no-nonsense. Thanks and have subscribed!
Thank you so much Joseph, Really appreciate your feedback.
Great points. People need to understand that their cave is a liability. Whilst a great store of wealth long term. Shouldn’t be seen as an asset.
Yes to dropping the cave reference haha.
Couldn’t agree more mate. Thanks for watching!
Completely agree on never to deposit if your thinking to buy a house in less than few years.. I did it when market was great last year and now I am down 20 percent on deposit.. learning it the hard way..
The only way your house could be an asset if you loose your job would be if you had a lodger or two. You can have £7500 a year tax free in the UK (more in London). Thats pretty sweet, especially ifyou are a higher tax payer. The downside is that you have someone else living in your house.
you're the man! Thanks for your channel mate!! Thanks to you I just started investing at the age of 29
Yes!! So happy I could inspire you, can’t wait to hear how you get on
I brought my first flat 15 years ago today, paid mortgage off after 9 years with help of an offset mortgage and over paying monthly and reinvested by getting two mortgages and still own the flat on the south coast and house in Brighton. Both places are in areas that are above the average prices.
Sounds like you are smashing it!! well done. Brighton a lovely part of the world as well.
So this was one of the most well presented and straight cut financial education videos I’ve ever seen, keep it up 👍.
Thank you so much Jake mate!
Great videos for someone starting out. I keep trying to tell people this is the way to go, but they look at me like i am some kind of fool or wasting my time instead of enjoying like and spending everything i own on holidays and takeaways.
The thing is mate I used to blow all my money, then I stopped doing it and I feel like I still do just as much and now I save/invest aswell!!
Very important video for me whos close to the allowance and wondering if i should change +chuck in more money into SnS than I normally do. Investing is exciting I love it but yeah treat it as two different things, SnS is for the long run, house is my main goal atm. I can contribute to both. Thanks Damien!
I only started watching your material a couple weeks now. Wow I have missed out all this time! Great stuff 👏 Damien your knowledge is supreme, thank you for sharing it and putting it in simple terms!
Thank you so much for this wonderful comment! really appreciated.
thanks mate, difficult to find honest investment channels!
My Pleasure mate! really happy you like the videos.
You just made me feel a whole lot better about it all. Nice one dude. Nice channel too.
Thank mate! glad I could help
Thank you, Damien! I'm one of the many grateful people for your informative videos on topics so crucial!
The only thing I didn't get in this video was when you mention between 9:50-9:56 'what's stopping you to put that house deposit every month into stocks and shares'.
Did you mean investing the money you previously saved towards your house deposit?
Many thanks @Damien Talks Money
Thanks man.. I feel better as I just started investing a bit of my (house deposit) money on Vanguard funds (because of you). BUT, I am only investing a bit and the other chunk goes on savings and LISA.
Perfect mate! it is all about personal preference. So whatever works for you and at different points we focus on different things in life. Glad i could help you out Pedro
best financial advice ive found, funny and engaging too! keep it up mate you're class
Thank you so much for this comment! Makes me feel so much better haha
@@DamienTalksMoney no worries dude! have you done a video on bonds? And what if vanguard goes under? With it being an American company would that effect anything? Cheers for the content!
Thank you so much taking the time to create these videos, all because of you I am slowly feeling more and more confident to begin my investing journey and your videos always make me laugh too. GREAT JOB DAMIEN
Thank you so much ! Love this feedback from a fellow creator!
Thank you so much for this video! Keep it up on UA-cam! You are giving amazing advice that can be hard to find, most of other big youtubers who talk about finances are US based. I am glad I found your channel!! 🙌🙌🙌🙏🙏🙏
You're so welcome! Thank you
Great content thanks Damien! I spent all my inheritance at 21 on going out & on holidays, if only I was taught what I should have been doing with at least some of the money and I would have been in a greater position today.
Mate at least you will have some amazing memories!! It is a crying shame we are all not supported better when young with money.
Don't sweat it mate. I spent a lot of money when I was younger on holidays and partying but I always maxed out any pension plans with my employers. That's free money from them and if you have it taken off your payslip before taxes then you don't miss it and base your lifestyle of what is left. Always invest in yourself first and put yourself in a position for well paid jobs with minimal stress and you will be set for life. You will get the chance to catch up when you are older and wiser and will definitely be happy with spending and wasting less money in your 50s. By the time you retire, you will feel like you hit the jackpot
You have memories though and your never going to think of your house on your death bed but your memories of holidays you will
Me too... I dont regret it though because I had fun... People wait untill they retire to go on holidays but what can you do when your that old :P
Owning property should always be the priority.
1. Usually cheaper than renting.
2. As you pay off capital the mortgage becomes cheaper while rent gradually rises.
3. You slowly pay off capital putting yourself in better LTV brackets.
4. You build up equity in your home which can be used to purchase future homes.
5. Less volatile than renting. Your landlord could kick you out etc.
6. It's vital for personal growth that you fly from the nest at a reasonable age.
7. Once your mortgage free your monthly expenses massively reduce, thus meaning you need less in retirement funds.
8. It's just cool to own your own place. A man's home is his castle.
Plus the house goes up in value and is the way most people in the UK become (accidental) millionaires.
A good method would be to put 4k a year into a Help to Buy ISA (Cash ISA if for under 5 years). After 4 years you'd have over 20k for a deposit.
This is such helpful advice, I’ve been so focused on saving to buy my first home I have barely considered investing for later in life. At the moment I’m not sure if that will happen for me until 2022, I have most of my savings in a regular savings accout as well as my help to buy ISA. Just pondering on whether its worth also opening a LiSA? I am defintely opening up a stocks and shares ISA though. Thanks to many of your videos I feel like I am more equipped to invest a little every month. So glad I found your channel!
I use both, the LISA is great for the 25% bonus but you cant touch the money until your 60... So i focus most my effort on the Stocks and shares and then will increase the LISA contribution as i earn more money,.
It’s pointless to own both a help to buy isa and a LISA as only one can be used for a house and the LISA isn’t a good retirement account so you’d be better of converting that H2B Into a LISA (accounts tend to have higher interest + the house value cap is higher) and then putting any excess money over the 4K year limit on a Lisa into an investment isa with vanguard. All this advice assumes that you have a 6-9 month emergency fund depending on your field. If your field is easy to find jobs in, go 6 months, if it’s really hard to find jobs, go for 9 or 12 depending how hard it is to find jobs.
@@milamarshall7842
Great insight here and i hope it came across i meant I have both a LISA and a S+S ISA.
Interested to hear why you think a LISA isn't a good retirement account?
As I thought the tax free withdrawals combined with the 25% top up makes it a better retirement account than say a SIPP in most cases. Especially for higher rate tax payers. who will pay 40% on any funds taken from the pension.
pension is a 40% rebate but subject to tax -minus the 25% tax free withdrawal. or LISA 25% top up and no tax.
Your perspective would be appreciated.
I have lost money on shares over the years but by buying my flat after 9 years I paid off my flat by over paying and then took two mortgages out to buy my house and made my flat a btl. Btl pays most of my mortgage. If I need more money I could rent out a room. If I lose my job I can rent out the house and move in with my parents or travel . You need to get LTV lower and you don't want to be renting when you are old
Finally someone answered the question we’ve all been thinking. Thank you lad
You are very welcome my man!
Fascinating video. I'm buying my first house with my partner, at 25, which is pretty good. It's a £300k house with a 155k deposit, mostly paid by my partner's inheritance. She isn't really into finance like me so she just wanted to put the money into a house, which overall I thought made a lot of sense and I wasn't gonna tell her 'no, put it in doge coin whilst we continue renting!!'. It's really stressful buying a house, but man, I can't wait to be moved in next week. Along with my investments (i make 30k per year atm and invest 500 quid a month in the market) i'm starting to feel i might actually be wealthy. i dont come from a wealthy family at all so it is quite a dream for me. Started putting my money in the market last april and currently up 35% and always learnign more, which is why i appreciate vids like yours and Sasha Yanshin's (who i found your channel from his recommendation) are really appreciated, i wish youtube rewarded your less clickbaity style :) thanks man
Thank you for this feedback Joey! Lovely to read this comment and well done mate on your recent success with your finances!
I love Sasha's channel he is an excellent creator!
Just bought a house, live in the South Wales Valleys and my mortgage is going to be £100 cheaper than my rent so I'm financially better off. I now have £100 more to invest each month. Love the content xx
Yes Chloe! Congrats on your home and well done for investing the difference.
@@DamienTalksMoney Thank you. Just keep doing what you do as it's channels like yours that both educate and inspire the rest of us to do better.xx
I know this is an old comment but that’s not true. You have to factor in maintenance costs like roof, water heater, furnace, ac, and many more.
Entertaining, inspiring and educational - all boxes ticked for me !
Thank you so much for this lovely feedback Natalie! Especially on an older video
I love seeing everyone also so inspired by your videos, like a lil community here :) I'm not sure how feasible it is for me to hop on the property market and tbh the idea of a lifelong commitment really puts me off but I will put aside as much as I can to my vanguard account and set aside a pension account as I've been self employed my whole life and never bothered. Big oops !
Love this comment! Thank you so much. Sounds like you got a solid plan. You just have to stay the course and not panic if there is short term blips. But being self employed i am sure you have the metal to ride out the ups and downs!
The biggest regret I have is not investing money I had left when I covered the mortgage, I dumped it into savings accounts which were OK but just OK, essentially they just kept pace with inflation at the time…if I had invested into the stock market things would have been much easier now and I could have been looking at an earlier retirement.
Don’t look back and regret too much, I know I am younger but I pissed so much of my life away aswell and often regret. I think we all do but key is your on it now
I decided on investing first and buying a house later. This so far turned out pretty well, as in my late 30s I ended up moving around the US several times chasing the available work in my field after the 2008 crash. Now that I’m 50, my retirement savings are on track, but I’m realizing it might be time to switch focus to having more funds outside of a retirement account to buy a house.
Just the video I needed! I am so glad I have found your channel! I wish I had started investing 5 years ago, at least!
Great to hear Andrea!
Honestly there isn’t a single investor in the world who doesn’t wish they started sooner! Main thing is you are starting now!
Fab video thank you! Anymore advice around house buying would be very welcomed....especially around understanding what the effect of low inflation and interest rates means. Thank you!
Hi Sarah!
Thanks for the comment. I will make more videos on the topic. but in a nut shell buying house with low interest rates makes buying the house cheaper! But the problem is the low interest rates make mortgage cheaper, so then people can afford more house and house prices rise as a result... Complicated I know haha
Glad I found your channel, this is the most sensible advice regarding this matter, unlike other “Gurus” who wants you to invest all or nothing to their piece of pie. I just bought a home and now looking to invest.:) Subbed and looking forward to more advice and knowledge.
I saved for my house deposit in an S&S LISA, I maxed out the contributions for 2.5 years and invested it all (along with the 25% government bonus) into a couple of funds.
It’s by far the best decision I’ve ever made. Not only did I get £2.5k for free from the Government, my investments saw a 38% increase.
I should add that I knew my house deposit fund could’ve dramatically reduced if the markets took a downturn (which they did 2 months later due to Brexit), but I saw the 25% government bonus as a buffer, so even if the markets dropped 25% I’d still be breaking even so to speak!
I think you have a really good point! the 25% top up does give that buffer!
You did so well on your performance there! good period in the Market for it. Just when looking at the data i would be wrong to tell people to do this. If i did and someone was about to purchase then the markets crashed like they did recently, i would feel awful.
But if you don't mind an increased risk then gains like yours are to be made!
Thanks for this comment, Really could alternative perspective from someone who has done it.
Damo
Finally something for new uk investors!! Keep it up 👍🏽
Thanks Daniel! Glad you liked the video mate
Damien, you are the man! Came at the perfect time. To add to this, as a first time buyer looking to buy today. Would you wait for a housing crash, as surely everything is being propped up at this moment. Great content. 10k subs by Jan 2021!
Now this is a good question!
I am in this exact position myself. So here is my opinion but i could be completely wrong.
1. house prices at the min are being artificially inflated by the stamp duty freeze, The price of stamp duty being saved is basically just being added onto the asking prices for homes.
2. Alot of people will likely lose jobs in the coming months.
Both of these factors mean in a sensible world when stamp duty returns and less people have jobs. Prices should drop. Personally i am waiting until after April till the stamp duty freeze ends as i get free stamp duty anyway being a first time buyer. So don't want to be in the mix with everyone else who is also currently not paying it.
That is just my thoughts, I could be completely wrong. I will say i am a firm believer in never selling a home. So any house i buy i will likely hold on to forever. So short term prices then seem less scary!
Hope that helps mate
Damo
@@DamienTalksMoney Thanks for the reply. That is a great thought. It is true. As a first time buyer we dont pay stamp duty unless house is over 300k. Which will only be a small % of people. I am from northern Ireland and housing market is booming. Prices are going up if anything. They say never time the market. But it just seems like the worst possible time to buy. When we know things are propped up and if you had to predict you would have to say prices will be down this time next year. That's if they eventually stop supporting everyone and let the economy correct itself.
@@seangallagher1726 yeah exactly! I think the current spike in price is directly linked to the stamp duty relief.
I've been through this chain of thought recently Sean, and I started to worry a bit. Then I realised, the house that me and my other half are going for ticks all the boxes, meaning, there will be no plans to move. Thus, long term, much like the stock market in terms of price fluctuations, as Carol informs us, won't be much of a problem as it's long term, 20 year plus and some. On remembering this, I settled down, our application is in and I'm trying not to be too excited.
@@polly8220 Very true. Unless your putting a house price daily monitor on your house and checking it everyday it won't matter if you plan to live there for 5 plus years. It is just that maybe youd save 20k, by waiting 1 more year. But that's put your life on hold for 1 year. Your life has to continue sometimes even though monetary wise it isn't the perfect decision. It is also true to say, if you find a house you love. That house will not be available next year, so you could also factor that in as a missed opportunity.
Things like this should be taught in school! Thanks mate!
You are very welcome!
Hahaha I'm German 🇩🇪 so yeah, it's a renting society. I had to justify myself for not being obsessed with buying a house living in the UK now. I'm getting older now, though, so I finally decided to THINK about a house 😂
Haha great to hear it from the other side! it is funny how different countries can have different attitudes towards property.
Another great vid Carol. Would be great if you could touch on the whole over-paying mortgage or investing predicament 👍
Thanks Tom! Yes this is a great shout! I defo have an opinion on this considering current interest rates, I will get it made. Thanks for the suggestion mate!
Damo... The man the legend, each and every video full of quality content. UK's very own Graham Stephan in the making!
haha what a compliment that is Terry! Thank you so much.
I would take being 1/10th of the size Graham is!
Great topic. Im 26 and this is a good question I've recently been thinking about.
Thanks Elliot! Hope my thoughts on the topic helped!
Genuinely one of the best videos I've ever watched
Thanks so much mate! really appreciate this comment!
just over a month till i can legally invest!
Unfortunately, i can’t afford to put £200 a month away YET. Gotta start somewhere though :)
Mate at your age even £50 quid a month will become a ridiculous figure in older age!
Honestly mate if i started when I was your age, I would be set now! Really looking forward to seeing how you do in the coming years. Dont worry about the amount you can always increase it over time.
When I was in my early 20s I could only afford £50 a month, 3 years later and a couple of job moves and promotions I was adding £400. It soon goes up! most important thing is to get started.
Damo
@@DamienTalksMoney thanks mate, i’m looking forward to the growth. hopefully with a bit of luck and guidance we can be onto something great
Can you use a Lisa to get your first property as a shared ownership deposit, then start a new Lisa account for your second residential home, the home you plan to move into and selling off the shared owenership flat? (The reason for the shared ownership first being that it beats renting)
Hi Mate!
You can only claim the LISA reward once. I personally wouldn't buy shared ownership as where i live they can be difficult to sell on.
I paid off my mortgage in 2017. I began saving in a pension in 2019. I am going to start investing.
Paid of mortgage at around 45? that is an incredible achievement! You can now put that money into your investments.
@@DamienTalksMoney Yes I was just one month off 45 years old when I paid off my mortgage. I began overpaying it when I was 41 years old. At age 44 I tried ever so hard to pay it off as soon as possible.
Hey Damian!
Was waiting for your video, thabks for this eye opener 😳
So sorry to keep you waiting Dipti! I had issues with my last video and had to take it down.
Hope you are well?
Can't lose sight of how entertaining and funny Damo is (and he is), the content and value is real top notch. What a video. And who doesn't love Les Dennis. Hated Family Fortunes when Vernon Kay took over.
Yes!! thank you mate. Can see your sub count growing very nicely also. Keep it up.
Intelligent, wise, accurate, and funny. You will be successful if you just keep going. Nice one!
Such good feedback! Thank you so much Jared
Rent a place and invest as much as you can until have enough to buy a house. Cash flow is king, buying a house with as long as a mortgage you can possibly get can be cheaper than renting if you deposit a big chunk down the line as well
Thanks for your insightful comment mate! Appreciate it
Nice one mate! Just catching up, i think both myself! Invest early as possible
Cheers lad!
Going through this dilemma now! Great video!
Thank you!
Hey, I have just found your channel and I am loving it. Thank you for explaining everything so well.
Are you able to do a video about people who are late to the game when it comes to investing. I am 36 and feel I am really behind in thinking about my retirement and investing
First of all lets just squash the notion you are old! from an investing perspective you are super young. Plenty of time ahead of you to grow a sizeable portfolio!
But of course i will cover this in a topic for you at some point.
Brilliant video as always. Thanks for helping us check whether we're on the right track!
Thanks Rachel!
I think sometimes people need a reminder they are doing well! Myself included.
@@DamienTalksMoney 😁
Les Dennis 😂😂😂 dude your story telling and editing gets better every video!! The Borat trailer was my ad too so watched that entire thing 😂👌🏼 entertainment and knowledge 👌🏼
if Carlsberg did teachers ...
Haha who needs a cinema mate when you got movie ads before my content!
Thanks so much as always Lewis for watching.
If Carlsberg did teaches... I would probably get sacked for being drunk on the job.
@@DamienTalksMoney just a heads up... may want to google “Vlogmas”.... basically ad revenue goes up over the month of December... then down again in January.
So I’m asking Santa for Carol to increase content next month 👀👀👀
@@lewsmith4449 I have booked half of December off just for you Lewis! So hopefully I can crank it up content wise.
Also lockdown next 4 weeks.. so watch this space!
Needed this video as well cheers Damien. Love the 'survey said' clip.
Hahah you are the first person to comment on the survey said thing! Makes me happy knowing I am not the only 1 that is old enough to remember family fortunes
Keep in mind guys there are two types of Lifetime ISAs - cash and stocks & shares. If you don't intend on buying your first home for a while (I'd say 8+ years), or if you intend on just using a LISA as a retirement fund and you are under 50 years old, then definitely go with a stocks & shares LISA. You're far more likely to end up with more money. Just think about it, 25% government top up PLUS compounding long-term returns from the stock market, tax free!
Nice one Damo.
Often a difficult choice go make. But you highlighted some great points 😀👍🏽
Thanks Rav! Hope you are well mate
@@DamienTalksMoney I'm good thanks Mate. Hope you been alright with this whole lockdown. Keep safe and well .
Oh wow, I'm surprised. You are definitely giving value. Thanks.
Thank you mate!
Great video , Lara sent me over . Cheers
Hi! thanks for popping over and watching my video.
Very much appreciated!
Damo
commenting for the algo cause this needs to be seen!
Legend!! Appreciate this thank you
Really interesting video and a great one to make. Once you have saved up in your Lisa would it not be more sensible to over pay on your mortgage to save the interest and pay it off earlier. I have never worked this one out. 9% on investment or over pay and save allot of interest on your house???
The issue is the 9% on the stock market is not guaranteed. The saving on the house is.
But interest rates are so low. I would invest personally
I’m 32 and only just learning about this 😩 well Atleast this knowledge I will pass to my kiddo.
32 is still so young!!
This is so good! I've been overpaying my mortgage like mad trying to be mortgage free. I'm still going to overpay (I know the interest from investing is higher than the interest saved from the early repayments but it works for our plan) but I'm not going to wait until the mortgage is paid off before I invest regularly now☺️ 📈🏢💷🏃♀️
Yes! love how much you have your head screwed on! cant wait to hear how you get on with the investing side of things.
2/3 of brits have their own home? I wonder how many are those mortgages.....I love the video`s but I would re-phrased the beginning bit to 1/3 of brits own their home and the other third owns a payment plan based on 25 years or rent....
Interesting video. I think our parents generation are obsessed with home ownership and it does rub off on us.
Most definitely!!! But easy to see why they are obsessed when they all got to buy houses for a couple grand. haha
My brothers friend spends £260 a month on his financed car, luckily I talked my brother out of doing the same. Dude could literally retire a millionaire but instead he’s driving a car he doesn’t own
Mate i have made this mistake in the past! You sound like you have your head screwed on. I think 50% of cars on the road are driven by people who are pay cheque to pay cheque...
@@DamienTalksMoney luckily stumbling across personal finance at a young age has definitely saved me, I was thinking I was going to do all of that stuff, but my mindset was changed before I started earning a wage to do so
@@jacobconcannon4677 well you will go far lad!
People might think you are daft now but watch in 10 years when you are rolling in cash able to decide where you go and when and the people who laughed are slaves to the wage to pay for the lease car to get them to work...
@@DamienTalksMoney exactly, I’d rather have money then look like I have it anyway, thanks for all your videos by the way, they help a lot!
Great tips Damien thank you🤛
No problem at all!
You speak my language exactly what I’m doing.
Good to hear Ricky! Hope your well.
Is LISA worth doing in London? Flats cost more than the £450k limit...
Thanks for the great videos, it helps me keep on track. I’ve been extremely fortunate as I have saved into LISA’s and ISA’s for a while now. I finally had enough for 20% deposit on my house in the LISA so when to buy it, to my surprise my mother bought it a s a gift for me the life time isa is great but now I’m in the surreal position of thinking do I leave it to compound for retirement or look for a rental to release the capital?
onwards to 3k!
God damn you overtook me LUL
editing on these is getting hella good!
Yeah but looking at your social blade all your numbers are going the right way!
Looks like you are getting more views than ever! Well done my man.
@@DamienTalksMoney aye cheers my man!
3 uploads a week works wonders, I’m also moving away from World of Tanks to completely focus on Dinosaur games (will stream WoT on twitch probably)
@@VelocciYT mate I am no where near 3 a week at the min haha.... one day!
So you finding the dinosaur stuff working a lot better for you than WOT?
@@DamienTalksMoney aye I think when it comes to organic growth dinosaur stuff works a lot better, I like the wot stuff but I have to push it a lot to get views, dinosaur stuff is fairly organic.
Plus having 2 different games can affect the channels stats so I think I’ll focus on one and stream the other
Absolutely love this channel
Great to hear! Thank you
Great video. Would like to buy a house within next 2 years. After I have saved the yearly maximum (£4K) in LISA, should I be putting the rest into a savings account? Do you recommend any that have good interest rates?
There are no savings accounts that pay good rates at the min mate! I keep mine in premium bonds as then i have a chance of winning a big prize at least..
Bloody hell this channel is fucking awesome ain't it?
Thank you!! Sorry it took me a while to reply. I missed your comment for some reason
Excellent stuff carol!
Nice one PWE!
Average price for two bedroom house in the village village live is £300k minimum
GRIM!
Damien you’re brilliant!!
Thank you so much!
Great video Damien! Pretty sure I heard mortgage = death pledge in French at some point! 🇫🇷
haha! I have a French mate who says something similar to that!
As always thanks for watching mate! Home both you and the wife are well.
@@DamienTalksMoney exactly mate only people who win with mortgages are bankers and solicitors. Has to be taken really seriously when even considering taking one! We’re great cheers mate hope you are too 😁
Few moments I laughed out load Ahahahaha! Rick Ross 😂😂 quality video mate it’s all about the fingers in the different pies 🥧
Mate I 100percent took the rick Ross from you 😂😂 think it was your DJ Khaled appreciate you line that’s inspired.
Please don’t copyright strike 😂
would you reccomend a cash lisa or an investment lisa ? thanks
I brought my first house at 19, my second at 23 when I became a landlord. I now own several and can say based on experience that if you can avoid buying rental property do so! Why? Because the government is at war with private landlords! Firstly landlords have almost no rights! If I want to evict a tenant for not paying their rent for example it can take months and then not paying is a civil matter so I’ll never see that money. Secondly there’s massive tax’s to pay when you buy the property and when selling you have capital gains to pay. The list goes on!
Yeah they have hammered landlords and the points around eviction are just mental.... It means renters know they are pretty much bullet proof when it comes to not paying rent.
How did you manage to purchase two houses I want to get into property too. Are you on insta bro
UK houses are all time high. Quick question how much deposit did you save?
@@smann7236 I put down 25% deposit and have to pay a additional 3% stamp duty now.
@@user-lv4dk6os7b hi yes I’m on insta. I simply save or remortgage (leverage) to fund the next one.
Do you think Buy to lets are a good investment?
I personally do think they are a great investment mainly due to cheap financing options
Well... that was an eye opener 😅 great video!
Glad you liked it!
Hey damo just been looking back at some of your videos.. what do you think to this scenario? I've saved quite a lot in cash to pretty much pay off my mortgage (only started investing from your video in vanguard life strategy 100 two years ago after watching your video) Would you pay off most of your mortgage/all of it or use that money to invest like put it into the life strategy or FTSE 100 etc? cheers
Great work Damo, guess we’re all trying to beat the bank...👌
Cheers mate! Hope you are good?
Brilliant, thank you. So good to have a UK channel on this stuff
My pleasure mate! thanks for letting me know.
Thanks for video
You are welcome!
maaatttte Les dennis 😂 I had to rewind to see if you actually said that.
It came to me in a Dream...
Great tips, really enjoy your content! Do you recommend any companies to open a LISA with or are they all the same? Cheers!
Hi Ana!
No recommendations i am afraid. I will likely be switching my provider in April, currently with Hargreaves Lansdown but think there is probably better about now.
I would just focus on the fees being low and them having the right types of investments for what I want to invest in.
Damo
Your videos are great and very educational, but seem geared only towards young age investors.
Thanks! I mean I make content for my demographic as it is where my experience lies. The 18 year olds who watch would defo not say i am young haha.
I will make content geared at the mature investor at some point, but honestly i will be investing in the same way in 20 years as i am now
Would you say it works out better to scrape a minimum deposit and get a mortgage or to wait, continue renting, and save a much larger deposit and take a smaller mortgage meaning less interest to be paid?
I personally would just get on the ladder considering how low interest rates are.
Lifetime ISA is only £1000 a year interest limit? Even if you have for example £40k over 10 years? That's not really that fair you put the limit amount to achieve the maximum £1k interest but if you put more you still receive the same and don't get rewarded for putting more?
It's all a question by the way, as it doesn't make sense and would appreciate further advice. You said 25% however £1K is the limit. How about if putting more is it still only max £1k. If that's the case it's not very fair.
What if you’re in your 30s and saving for a house? Should I whack everything in an index fund until I have enough and then take it out - providing it’s under 20k?
I would be using a lifetime isa myself, keeping it all in cash but getting to 25% from the government. It is risky to invest house funds
If you already own a home and already have enough to buy another one would you put it into a pension, s&s isa, or spend it all to buy another home for buy to let?
Well that all depends on what would produce the best return. Rental properties you get access to leverage, Which is amazing! But shares are a little more passive and require less work. It really is your choice.