Finally, I have done it. (S&S ISA)

[SpokeyDokey]

After much dithering I have finally opened a ready made S&S ISA (self select) that I can pick and mix going forward.

Not a huge sum but enough to make me concentrate and take it seriously.

Not a big risk as it's money we'll never get to spend (kids inheritance more than likely) but I thought I'd have a dabble and see what happens over the long term.

A J Bell platform. Easy to use and seems cheap enough.

Dropped (ex' initial charge) 0.12% on day 1.

 

[All uphill]

Well done!

Best advice I had was:

"Set it and forget it"

I still can't do it. Have to have a little look every day.

Mine has averaged +6% per year over 5 years with loads of ups and downs along the way.

 

[Lozz360]

Good luck. I presume you can select a number of shares to spread your risk? (Edit: I just noticed you mentioned "Pick and mix going forward") Don't worry about the odd drop. 0.12% is almost nothing BTW. The FTSE tends to go up, up, up, down and repeat. Look at it as a long term investment.

 

[SpokeyDokey]

Well done!

Best advice I had was:

"Set it and forget it"

I still can't do it. Have to have a little look every day.

Mine has averaged +6% per year over 5 years with loads of ups and downs along the way.

Good luck. I presume you can select a number of shares to spread your risk? (Edit: I just noticed you mentioned "Pick and mix going forward") Don't worry about the odd drop. 0.12% is almost nothing BTW. The FTSE tends to go up, up, up, down and repeat. Look at it as a long term investment.

We have around 8% of our savings/investments in the stock market - the newly opened one is a first attempt at a DIY element. The others are either passive or actively managed by the fund provider.

The one just opened is basically a fund of funds that starts with seven funds selected for you and from then onwards they can be chopped and changed as required. Not proposing to do that very often.

And yes, definitely see them as a forget about option for the long term ride.

We have a fund set up back in 2003 that has grown by a factor of 4 over the intervening years - it is property based (through luck not judgement) and the thinking here is that it is getting a bit toppy.

If the new ISA works out something similar may become its new home. Again, it's not money we are ever likely to need so not critical but it would be nice for it's upward trajectory to continue.

 

[vickster]

I hope yours fares better than mine has done over the last few weeks...gone from 10.7% growth to 7.16% ... about a grand less now
(7.16 isn’t too shabby just annoying!)
(Vanguard managed fund)

trying to decide whether to stick the remaining 6k of this years ISA allowance in it ...?

 

[SpokeyDokey]

I hope yours fares better than mine has done over the last few weeks...gone from 10.7% growth to 7.16% ... about a grand less now
(7.16 isn’t too shabby just annoying!)
(Vanguard managed fund)

trying to decide whether to stick the remaining 6k of this years ISA allowance in it ...?

Good result so far for you.

I'd go for it tbh.

Decisions, decisions...

 

[vickster]

Good result so far for you.

I'd go for it tbh.

Decisions, decisions...

Just waiting on estimate for extension

 

[vickster]

Good result so far for you.

I'd go for it tbh.

Decisions, decisions...

Done, decided to stick the rest in Vanguard, will decide how to split by risk when it clears.
Value looks to be creeping up again

 

[Rusty Nails]

I hope yours fares better than mine has done over the last few weeks...gone from 10.7% growth to 7.16% ... about a grand less now
(7.16 isn’t too shabby just annoying!)
(Vanguard managed fund)

trying to decide whether to stick the remaining 6k of this years ISA allowance in it ...?

This is why I only look at my investments every six months or so. If I haven't cashed it I haven't lost or gained anything.

 

[vickster]

This is why I only look at my investments every six months or so. If I haven't cashed it I haven't lost or gained anything.

True but gives me something to do of an evening

 

[Rusty Nails]

True but gives me something to do of an evening

I learned my lesson on that years ago when I got very worried at "losing" almost £20k overnight. Within less than a year it had all come back.

I pay for financial advice because I cba to go through the hassle of keeping myself updated on financial issues and changing my investments, which literally bores me to sleep. I just get updates when they plan to change the investment mix.

 

[vickster]

I did panic last March and cash in my shares isa at the worst time. I had too much in there and thought I’d pull it and regroup. Probably should have left it! Doh

 

[Chap sur le velo]

Well done that (wo?)man!

For those who are dithering about opening an ISA/SIPP on line, I've found it IS as EASY as they say. 45mins to an hour ticking boxes and entering personal details.

For some reason in the early 2000's when I did have spare dosh, I always meant to but never did start one. If I'd put in £20k a year then for say 5 years in world stock markets it would have dropped a bomb in 2008 but soared since. Need to think medium/long term. Quite likely worth £250k today. As I say I have no idea why I never spent an hour or so on this then, as I did do a lot of other wise things.... Possibly because it was new and unknown to me.

So if you are one of those who's meant to do it for some time I'd urge you to do in before April this year and keep up the annual habit. Doesn't have to be a great deal just get invested in the market and leave it there. If I've convinced one person then I've done a good thing today.

End of lesson in "the bleedin' obvious".

 

[iluvmybike]

I've been investing in S&S ISAs for 30 yrs now. My word of advice is not to panic if there is a drop in the markets and sell everything off - thereby lies pain. It is best to let things ride and be in it for the long haul. Don't expect massive gains - it takes time. I just set all mine to re-invest any profits every year and it is amazing how it accumulates.I have gone through various recessions, the 90s dot.com bubble, the 2009 crash, the 2016 big drop - it gets a bit concerning at times but be bold and you will win out. Good luck

 

[Drago]

Please keep us update with the progress Spokey. Ive a not insignificant sum swilling about and had looked at thisnsort of thing over recent weeks, but the returns seemed so minor it hardly seemed worth the effort. If you can make it work then that might spur me one a bit.