Investing my Bounty

#1
For a change I'm thinking about not spending my bounty and investing it.

Does anyone know any good sites for doing this or good places for getting info from firms. Have tried googling this but ended with firms requesting dosh etc....
 
#2
Egg tax free ISA, think they are about 6% at the minute and you are allowed to invest £3000 per year. Safe investment and 6% isnt bad really.
 
#3
If you have anything at all that you are paying interest on, mortgage, car loan, credit card etc then put it straight onto these. Especially if those loans are over a long term period or you are having difficulty making a dent.

The effect of compound interest is striking, even a modest reduction in the principal amount will make a big difference over the period of the loan. Most lenders will allow you to make a one off payment without penalty but check with them first.

If you have no interest bearing loans then have a look at the usual money advice web sites like www.fool.co.uk and www.moneysupermarket.com for advice
 
#4
Agreed a good ISA and you will feel the benefit long term.

At the moment i would suggest a cash ISA as mentioned above EGG is not too bad.

When and If the stock market bottoms out Transfer it to a stocks and shares ISA and you should Profit well, as you receive dividends on your shares as well as the capital growth from a rising market TAX FREE.

Or you could split it between both a Cash mini and Shares Mini ISA.
 
#5
isa or go and see an independent financial advisor, most will see you for a half hour for free
 
#6
Single premium to personal pension.

Grossed up by your tax rate, hurrah!
 
#7
So you wouldn't advise shares then? (Bloke at work keeps mentioning that their firm is gonna get taken over - their share price is 37% down from last year)
 
#8
depends on the timeframe you are looking at, to be honest.
 
#9
in individual cases there are merits,

you have to work out why the value dropped and what merit will come from a takeover. Some takeovers result in a rise in price some result in a drop.

If there are debts owed by the company and this is prompting the takeover all creditors will be paid first and you will be well down the line of investors requiring your money back.

A good example of takovers which resulted in a gain was when the big four construction companies were fighting for market share and the subsequent take overs of smaller outfits saw the market position of all concerned strengthen subsequently the price rose.

An IFA/Stockbroker will advise on the merits prior to any investment providing you dont set up an execute only account.
 
#10
polar said:
So you wouldn't advise shares then? (Bloke at work keeps mentioning that their firm is gonna get taken over - their share price is 37% down from last year)
Was he talking about Northern rock? Seriously if your going for the stock market see someone who knows, TBH if you want my advise I would avoid the stock market, its not exactly the most secure place at the minute but saying that, thats how people make money in share dealing: taking a risk......
 
#11
On reflection; spend £1500 on chicks & booze and just waste the rest.
 
#12
Buy an Ikea log cabin* in the mountains just in case it all goes pear shaped.





*Comes flat packed with the last screw missing.
 
#14
I am self-educating on finance at the moment, and I've found that:

The Motley Fool website, www.fool.co.uk, is widely regarded as a sound place to start. There are plenty of articles explaining the benefits and disadvantages of different types of savings/investments.

If you want to become more financially literate, one of their books on investment, or something like the Financial Times Guide to Personal Investment will give you the knowledge of how it all works neccessary to make informed decisions.

Talking to an IFA is probably a good plan, but I like to have a good working knowledge of a topic BEFORE I take someones advice, as they always have a vested interest of some kind. :wink:
 
#15
You could spread the risk, invest £500 in shares, £500 in art/antiques, £500 in silver coins so you can roll around in it/count it like a king etc.
 
#18
polar said:
slimjim said:
Was he talking about Northern rock?
ha no... Logica - advice seems to be keep buying.
:D

I know little about buying and selling, good luck what ever you do 8)

oh the IFA I send all my clients too (I'm an accountant BTW) always says only invest if you are prepared to loose it.....
 
F

fozzy

Guest
#19
polar said:
So you wouldn't advise shares then? (Bloke at work keeps mentioning that their firm is gonna get taken over - their share price is 37% down from last year)
I wouldn't invest all my money in a single company. Shares go down as well as up - its just like roulette.

I would suggest an ISA (where the risk is managed for you) or a nice high interest savings account.

Whatever you choose, seek professional advice via an IFA first
 
#20
Thats the reason we've been talking about it at work :D Share price is quite low at the moment, they may not have earned loads of bucks, they have scored some major PR points over other big companies this year especially in government/defence areas.

fozzy said:
I wouldn't invest all my money in a single company. Shares go down as well as up - its just like roulette.
Well so far advice has made me think about making smaller bets and yes I think watching/investing in several companies is a good idea.
 
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