Author Topic: My first investment vehicle (UK)  (Read 1692 times)

MrBrutalHonesty

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My first investment vehicle (UK)
« on: September 18, 2017, 12:12:59 AM »
So, long story short, I am finally in a place where I cam begin investing. I'll be honest and admit I want something uncomplicated if possible as I've literally never invested in anything before.

So I'm thinking of following MMM's advice and opening an index tracker account with Vanguard. I assume I can do this being in the UK, and if so, can anyone suggest which trackers I should be looking at.?

BrokenBiscuits

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Re: My first investment vehicle (UK)
« Reply #1 on: September 18, 2017, 04:04:31 AM »
If you haven't already found the website monevator, that would be a good start for uk based investing.

http://monevator.com/low-cost-index-trackers/

You could just invest in a vanguard life strategy fund for a one stop answer. This would save you having to rebalance too.

Monevator will have all the guidance you need, well worth a read.

MrBrutalHonesty

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Re: My first investment vehicle (UK)
« Reply #2 on: September 18, 2017, 04:45:23 AM »
Much obliged. I'm brand spanking new at this so I need to start at the beginning, but that having been said, I'd like to start putting my money to good use soon as possible. So I'll look up that Vanguard fund you mentioned as well

BrokenBiscuits

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Re: My first investment vehicle (UK)
« Reply #3 on: September 18, 2017, 04:58:23 AM »
Also a decent book to start out with would be Tim hales smarter investing.
I read it for free from my local library.

MrBrutalHonesty

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Re: My first investment vehicle (UK)
« Reply #4 on: September 18, 2017, 05:43:50 AM »
Sweet, I'm an avid reader anyway, so adding one more book is no effort at all

UKstache

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Re: My first investment vehicle (UK)
« Reply #5 on: September 18, 2017, 09:33:08 AM »
+1 for lifestrategy. Make sure you buy within a tax efficient wrapper though , ISA, LISA or SIPP depending on your goals and circumstances.

Sent from my HTC Desire 510 using Tapatalk


MrBrutalHonesty

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Re: My first investment vehicle (UK)
« Reply #6 on: September 18, 2017, 01:26:14 PM »
Come again Ukstache? I've heard the terms, but I don't know how to use them. Do I create an isa through a bank? Online?

UKstache

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Re: My first investment vehicle (UK)
« Reply #7 on: September 18, 2017, 02:29:22 PM »
I find that http://www.moneysavingexpert.com/ is good for explaining basic things like the advantage and disadvantages of these different account types. They won't make fund recomendations though, its more of a consumer rights site, run by that bloke off the telly.

You asked specifically about an ISA http://www.moneysavingexpert.com/savings/stocks-shares-isas

I have the Cavendish one mentioned. Inside it I have bought vanguard lifestrategy fund. If you only want to buy vanguard not other funds, you can get an isa from them direct at https://www.vanguardinvestor.co.uk/. That might be simplest, and probably cheapest. It didn't exist when I opened mine I think.

I think you have a lot of reading to do! But an ISA is your best choice if you want to be able to access the money again any time.

MrBrutalHonesty

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Re: My first investment vehicle (UK)
« Reply #8 on: September 19, 2017, 12:11:23 AM »
I do have a lot of reading to do, thanks for the links

dreams_and_discoveries

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Re: My first investment vehicle (UK)
« Reply #9 on: October 15, 2017, 01:50:21 AM »
I'd start with an ISA if you don't already have one, and shelter all your gains from the taxman.

Also what's your pension situation? Are you employed with employer contributions to your pension?

Playing with Fire UK

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Re: My first investment vehicle (UK)
« Reply #10 on: October 15, 2017, 02:49:36 AM »
Welcome.

Check outthis thread for more guidance (it's a work in progress, let us know what questions it raises).

How much do you plan to invest and how frequently? Do you have a lump sum to start with?

Have you thought about how you would feel if the stock market dropped after you invested so their was less money than you put in? Would you be tempted to pull it out again or do you think you could continue to invest?

Do you know what your savings rate is? And are you investing for any particular goal?