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[Raidernation]

What could that get you over there?

Decent bottle of malt
2 bottles of murcan whiskey
About 5 liters of wine

Didn’t drink much beer at home

[Daydream]

When I was 18 and in my first full time job.
Had many an argument with a girlfriend over my tightness but it’s worked out in the long run.
If anyone is looking to save I would recommend having a look at the Moneybox app. You can use it for roundups or weekly deposits and then decide how aggressive you want your money to be invested.
It can fluctuate of course but for the last year or so I’ve had it set at the most aggressive setting and I’ve put £960 in it and currently sitting at over 10% return with £1081 in the pot.

I just checked my Moneybox account tonight (I’d rather forgot about it). Up to about £500 in no time. It’s only been about 4 months!

[Sergeant Wilson]

2 minutes ago, Raidernation said:

Decent bottle of malt
2 bottles of murcan whiskey
About 5 liters of wine

Didn’t drink much beer at home

That would do it!

[ICTChris]

19 minutes ago, Raidernation said:

Decent bottle of malt
2 bottles of murcan whiskey
About 5 liters of wine

Didn’t drink much beer at home

A policeman friend of mine once arrested someone who told him that he drank five bottles of cider and three bottles of vodka a day.

[Fuctifano]

This is decent and will apply for 99% of folk 

https://www.amazon.com/Investing-Demystified-Speculation-Sleepless-Financial-ebook-dp-B071WQ1L81/dp/B071WQ1L81/ref=mt_kindle?_encoding=UTF8&me=&qid=

The premise of the book is that realistically you won't beat the market over the long run unless you're very lucky or a  Warren Buffett, so pick a reputable global equity tracker fund and prime government bonds in a proportion that matches your attitude to risk (more equities = more risk) and invest regularly to smooth market fluctuations and you'll be fine in the long run. These have very low charges compared to actively managed funds.  But he takes about 300 pages to explain why.

Last time one of these threads came up someone posted How To Own The World by Andrew Craig which is good too, he  says essentially the same things but goes a bit more diverse and says you should try and buy gold or other commodities as well.

[Granny Danger]

2 minutes ago, Fuctifano said:

This is decent and will apply for 99% of folk 

https://www.amazon.com/Investing-Demystified-Speculation-Sleepless-Financial-ebook-dp-B071WQ1L81/dp/B071WQ1L81/ref=mt_kindle?_encoding=UTF8&me=&qid=

The premise of the book is that realistically you won't beat the market over the long run unless you're very lucky or a  Warren Buffett, so pick a reputable global equity tracker fund and prime government bonds in a proportion that matches your attitude to risk (more equities = more risk) and invest regularly to smooth market fluctuations and you'll be fine in the long run. These have very low charges compared to actively managed funds.  But he takes about 300 pages to explain why.

Last time one of these threads came up someone posted How To Own The World by Andrew Craig which is good too, he  says essentially the same things but goes a bit more diverse and says you should try and buy gold or other commodities as well.

There’s managed funds that have continually outperformed tracker funds and by a significant amount.  Fundsmith, Rathbone and AXA Framlington to name but three.

 

[Mitch]

Does your work offer any sort of sharesave or equivalent? I started paying into one immediately when I started working at 16. It comes out of your salary so you just get used to not having it. Fair builds up over the years and so long as the share prices doesn’t tumble, you will make more than you would in any high street savings account (by some distance).

I’ve always put something away, even now with my wife back at university full time, I still put away into my sharesave and other investment. Just tighten up a little more elsewhere to compensate.

You need to have a long term view. You ain’t going to have the house deposit overnight, but will be worth it in the long term.

[Fuctifano]

6 minutes ago, Granny Danger said:

There’s managed funds that have continually outperformed tracker funds and by a significant amount.  Fundsmith, Rathbone and AXA Framlington to name but three.

 

Of course, but the vast majority don't and if it were as easy as picking the ones that have performed well in the past everyone would be on them.

[ICTChris]

5 minutes ago, Mitch said:

Does your work offer any sort of sharesave or equivalent? I started paying into one immediately when I started working at 16. It comes out of your salary so you just get used to not having it. Fair builds up over the years and so long as the share prices doesn’t tumble, you will make more than you would in any high street savings account (by some distance).

 

I have known quite a few people who saved using shares in RBS when they worked there and lost tens of thousands of pounds when the share price crashed.

[Granny Danger]

2 minutes ago, ICTChris said:

I have known quite a few people who saved using shares in RBS when they worked there and lost tens of thousands of pounds when the share price crashed.

Putting all or most of your cash into a single stock is an incredibly reckless thing to do, even if your an employee of the company in question.

[alta-pete]

I have known quite a few people who saved using shares in RBS when they worked there and lost tens of thousands of pounds when the share price crashed.

^^^ this. Not me, but a couple of people I know (and, I know, f**k the bankers blah blah) had a long way into six figures in RBS employee sharesave scheme thinking they were set for retirement but, come 2008, their £250k ended up worth £12k.

Diversity is the moral of the story.

[ICTChris]

Just now, Granny Danger said:

Putting all or most of your cash into a single stock is an incredibly reckless thing to do, even if your an employee of the company in question.

Absolutely.  I guess pre-2008 people just didn't imagine that a company like RBS would go tits up.  

It's amazing how many people in well-paid jobs exist hand to mouth, even relyign on credit cards to tide them over.  When I worked at RBS a colleague told me that following the crash, one of the middle managers went to the senior managers and begged for a pay rise because he had been using his bonus to pay for private school fees and he coudlnt' afford it now.  Madness, the guy was probably earning a high wage but was using a bonus to cover something that you'd have to consider a day-to-day expense.  Idiots.

[paul wright scores]

16 minutes ago, ICTChris said:

I have known quite a few people who saved using shares in RBS when they worked there and lost tens of thousands of pounds when the share price crashed.

Happened to me with HBOS - lost a bit of money but the biggest loss from my perspective was the loss of the potential profit from the Sharesave scheme alluded to above by Mitch (I think I worked beside him for a number of years). 

Fortunately,  I didn't keep too many shares for too long as I always cashed in quite quickly once the Sharesave matured but I know of people who virtually never cashed any of their shares in and lost 6 figure sums.   One of my ex-managers apparently lost over half a million pounds. 

Sharesaves are a good idea but like anything to do with shares there is risk.  Another better option we had was a Sharematch option where they matched the number of shares you agreed to purchase up to an agreed limit.  You got tax relief on this which further increased the value.

 

 

[Sergeant Wilson]

50 minutes ago, ICTChris said:

A policeman friend of mine once arrested someone who told him that he drank five bottles of cider and three bottles of vodka a day.

You'd need to get up really early to do that.

[ICTChris]

2 minutes ago, Sergeant Wilson said:

You'd need to get up really early to do that.

It does seem a  lot of work.

[Derry Alli]

45 minutes ago, alta-pete said:

^^^ this. Not me, but a couple of people I know (and, I know, f**k the bankers blah blah) had a long way into six figures in RBS employee sharesave scheme thinking they were set for retirement but, come 2008, their £250k ended up worth £12k.

This post gave me the heebie jeebies. Something like that would send me spiralling into a suicide mission. 

Absolutely nae chance, I'd rather just be skint all the time. 

[Raidernation]

That would do it!

Problem was that was still comfortable

[welshbairn]

6 minutes ago, Raidernation said:

Problem was that was still comfortable

Until you woke up, no?

[Granny Danger]

8 hours ago, Dele said:

This post gave me the heebie jeebies. Something like that would send me spiralling into a suicide mission. 

Absolutely nae chance, I'd rather just be skint all the time. 

It’s good to have a goal and be able to achieve it.

 

I saw the Moneybox reference earlier.  Huge fanfare of an ISA they have recently launched paying 1.4% AER.  Given that inflation has been running about 2% it doesn’t strike me as a very good deal.

 

[jamamafegan]

I’m managing to save pretty well just now. That’s mostly down to working away from home though. I also have a Plum account which I’ve had for a good while now and I think it’s great. Every week it’s putting money away that I forget about and then I’ll remember “oh I’ve got £300 in that account.” I keep that aside usually for leisurely things. Anyone interested in a Plum account hit me up and I’ll send you a link to get started.