How to Start a Pension in the Face of Economic Armaggedon
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SG, i have an isa (standard cash isa) that i havent put any money into in this financial year. Can i move like £1000 from that into the cavendish stocks and shares isa? I dont want to move the whole amount of the cash isa. Or would it be simpler me transfering £1000 out to debit account then doing the Cavendish stocks and shares isa?
I havent set the Cavendish stock and shares isa up, was going to tonight. -
You can have as many different ISAs as you want of varying types. The only limit is £20K per year. You can take it out from your old and put it straight into a shares ISA. You can take outside a cash ISA as cash and then put it into a shares ISA instead.
You only need be concerned once you've been investing a while. Once the shares ISA gets over £20K if you accidently take it out you can't put it all back in, and that would not be good when the sums get quite large."Plus he wore shorts like a total cunt" - Bob -
I keep fluctuating. Currently at my highest up £90, but I have been down about £45 too. -
The secret is to keep putting in. It's generally just so cheap right now but it may well go steadily lower - the US job market is in bad shape and it isn't going to improve anytime soon, or it may steadily increase as antibody and vaccine news filters through. Who knows? Most economists are predicting a pretty big bounce back next year but then again it may be too late to stop a full global recession, but whatever happens it'll get back up eventually.
From personal experience you'll eventually learn not to peek too much when it's taking dives - there's no point in temporarily alarming yourself when you're in it for the long haul, but you'll keep a steady eye on it during the upswing. If you can train yourself to ignore it completely you will be a happier investor, but easier said than done I guess."Plus he wore shorts like a total cunt" - Bob -
I haven’t looked once since checking it had actually gone in. Seems pointless to either worry or get excited. This is for 30 years from now.
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yourfavouriteuncle wrote:I haven’t looked once since checking it had actually gone in. Seems pointless to either worry or get excited. This is for 30 years from now.
This is the correct way."Plus he wore shorts like a total cunt" - Bob -
Yeah but it's not much fun. I was up 46p when i checked earlier. That's living."Like i said, context is missing."
http://ssgg.uk -
RamSteelwood wrote:Yeah but it's not much fun. I was up 46p when i checked earlier. That's living.
£60k well invested then??
"I spent years thinking Yorke was legit Downs-ish disabled and could only achieve lucidity through song" - Mr B -
Some help with this cause i think im being a dumbass.
1. Go to Cavendish online to create an account
2. transfer part of my current cash isa into the investment isa.
3. Then i pick a fund. https://www.cavendishonline.co.uk/funds/ubs-sp-500-index-fund-class-c-acc
Is this correct?
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What’s the tax situation on this? If I started a fund like this in GBP while living in China, would I feasibly run into issues?
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Yes. You need to be residing in the UK to put new money in although you can keep any ISAs you had before you moved. When you set it up they'll ask for your passport if they suspect you're abroad. You'll also need your NI number and possibly other stuff."Plus he wore shorts like a total cunt" - Bob
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I haven’t been keeping up with this thread but I hope none of you have been buying oil futures.
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How does a negative oil price even work? I get paid to buy oil? Gimme -$5 millions worth then.
Fuck it, I’ll take the lot. Whatever you’ve got just send me the cheque. -
What's caused today's plummet? I thought Russia and SA were getting along again? -
Because there is no use? So anyone buying it would be liable for its storage costs, but have no market to sell it?
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They turned the taps on just before it went tits up so the market was already flooded before demand even fell."Plus he wore shorts like a total cunt" - Bob
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SpaceGazelle wrote:Yes. You need to be residing in the UK to put new money in although you can keep any ISAs you had before you moved. When you set it up they'll ask for your passport if they suspect you're abroad. You'll also need your NI number and possibly other stuff.Lord_Griff wrote:Open a plus500 account.
Same dealio? As in, stick money in and leave it? Looking at pension stuff...but plus500 seems more straight up trade-y. -
got a message from my 'savings account' bank the other day..with interest rates so low, they've altered the interest rate on savings to 0.01%!
More fool them, i don't have any savings.
However, the small amount I had that could have been sat in that account, is currently up nearly 8% since sticking it in one of these doo-dahs.
Appreciate it obviously can go down, and will fluctuate, and interest rates will change....but i thought it was a pretty stark comparison of what you 'might' get with investment vs the safety of saving."Like i said, context is missing."
http://ssgg.uk -
it's really important to understand how uncertain things are right now and why we don't really care.
It wouldn't surprise me if the SnP500 slowly slumps another 20/25% until picking up next year - and that means your balance is going to do similar, but nobody knows. The important thing is to leave it alone and keep periodically buying. It's cheap right now and like I said, it may well get a lot cheaper. Any gains right now are down to luck and serendipitous timing. It's important to know you bought cheap and be at ease if it goes down further.
If you can afford it and are putting in small bits every month you'll take advantage if it goes down further by buying cheaper and cheaper stock. If you aren't putting in monthly it's fine, just leave it alone. It's time we're aleways short of because it's time that'll see you the biggest returns. I'll repeat again, do not put something in you can't afford and you'll need back in an emergency.
When it's in it stays in! This is the absolute goldenest rule of golden rules. Later, you can maybe shuffle it around to another accumulation tracker if you really insist but do not pull out cash!"Plus he wore shorts like a total cunt" - Bob -
Minnesänger wrote:SpaceGazelle wrote:Yes. You need to be residing in the UK to put new money in although you can keep any ISAs you had before you moved. When you set it up they'll ask for your passport if they suspect you're abroad. You'll also need your NI number and possibly other stuff.
Same dealio? As in, stick money in and leave it? Looking at pension stuff...but plus500 seems more straight up trade-y.Lord_Griff wrote:Open a plus500 account.
I mean, you don't need an ISA to invest, but you'll save a fortune when the sums get larger and you start taking pension money out. I don't know what China's tax laws are, and you might be able to set up something via HK that's more rewarding. I don't know. I have no idea what plus500 are like but it's cheapness you want in a long term investment. Take a look at money saving expert. The link is in the OP."Plus he wore shorts like a total cunt" - Bob -
Kind of figured cfds and spread bets might be tax free in China as they are here.
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Fuck cfds and spread bets."Plus he wore shorts like a total cunt" - Bob
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I hate spread bets, becasue no matter what they say, "I can;t believe it;s not buter""I spent years thinking Yorke was legit Downs-ish disabled and could only achieve lucidity through song" - Mr B
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