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Doccykins posted:It's finally here Interesting. How urgently do you reckon we should be picking this up? My workplace pension (civil service alpha) is really generous on their contribution so my current contributions are going towards that, but I have a high-4 figure SIPP elsewhere on a 0.75% fee which feels like I should move to the Vanguard.
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Feb 19, 2020 10:41
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Theophany posted:Accepted wisdom would be to continue contributions to your occupational pension as it's a DB scheme and transfer your existing SIPP to Vanguard to cut any cost drag. SIPPs are typically expensive and unless you're holding property or something esoteric, they're poor value for money for the majority of savers. Fair enough, thanks for the accepted wisdom. I'm very unlikely to be a lifer in the CS so it'll be a bit of a pain when I leave to remember to claim that pension in 30-40 years time, but it's probably worth leaving that where it is.
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Feb 19, 2020 16:50
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Theophany posted:Don't be the guy that thinks they can do that. If you get in today, you're still buying at a near 30% discount to the 1st January if you're buying a tracker. If you're going to do it anyway and don't need the money in the next 5-7 years there's more to be lost trying to time the market. Yep this has been my play. Took the hit in the Target Retirement 2050 fund but am now sat on a ton of FTSE 100 Index Unit Trust and couldn't be happier. Leave that last margin at the bottom for someone with higher risk tolerance.
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Mar 17, 2020 13:03
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Jaded Burnout posted:Is it.. is it time to start buying gold? It's never time to start buying gold.
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Mar 19, 2020 12:27
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Sad Panda posted:What's the issue with St James Place? I have family that use them. My main issue with that is they're paying way too much for advice breaking the fundamental rule of passive investing. Without going into any detail, I've seen the company "conference" (holiday) they send partners on. Everyone there is making way too much money
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Jun 11, 2020 11:32
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Pantsmaster Bill posted:Finance-related question: how long do you all keep paper records for? HMRC letters I keep pretty much indefinitely, the rest of these are online-only for me
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Jun 19, 2020 14:34
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Sloth Life posted:My cc is 0pc interest for a while yet and should be paid off by the end of the term. On the flip side, your savings is also probably 0pc interest 
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Jun 30, 2020 23:13
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Alchenar posted:Please stop, just put your money in an index fund (Legal & General do several really good ones to pick from). Yep, keep it simple. I've got my stuff in a FTSE 100 index fund at the moment and it's outstripping the managed funds quite handily
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Jul 21, 2020 13:36
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Breath Ray posted:Thank you for your responses, honestly. Other stuff i have going on is a DB pension and tenanted property, so these investments are comparatively small fry. Let's say I have about £7.5k in savings, with a third of that in Fundsmith S&S ISA which has been pretty good to me. the japanese thing was 0.24% and 3/7 on the risk scale. that leaves the ftse 100 index I suppose? Yeah literally just dump it in a ftse tracker
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Jul 22, 2020 01:07
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Cast_No_Shadow posted:Stick it in a low cost passive index tracker. Yeah that's a fairly good point, I mainly was lazy and went with what I knew. E: I'd also actually argue that going for a non-UK option is probably a good idea given our 'rona response and Brexit on the horizon. Have chosen to move my stuff into a Europe minus UK index instead. mfcrocker fucked around with this message at 14:51 on Jul 22, 2020 |
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Jul 22, 2020 14:33
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Yeah I mean when I've needed to withdraw big wads of cash I've always just said what it's for and it's been fine. Usually for stuff like a deposit for a tenancy
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Jul 30, 2020 12:13
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Sloth Life posted:Original amounts from original post,current amounts in bold as of today. Sorry I borked the format. Nice work! It'll be really sweet when that CC debt is gone
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Aug 8, 2020 16:03
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I'd also suggest not going for one of the big conveyancing firms. We've had much better luck with smaller companies
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Aug 14, 2020 11:47
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Cast_No_Shadow posted:Also be careful the other way. Mine is 1850s and while spacious and very unlikely to fall down it's has it's own unending host of problems. Yeah, ours is of similar age and hasn't had any serious love in a very long time. Peeling off lining paper and finding people's names scrawled with dates like 1870 and 1855 was fun though, people have always been massive dorks 
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Aug 17, 2020 20:14
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Lucky buggers, I'm a perm CS so have to deal with forever bad pay (The non-cash benefits, especially work/life balance and disability support, make it super worth it)
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Sep 4, 2020 11:55
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Jaded Burnout posted:To be fair I tried to go perm like 4 times and there was always something blocking it. The cash is traded off for no pension, no paid holidays or sick leave, no career progression, and being let go with a week's notice (in my case). The permies seemed to also have more support around setting up jobshares and part time. Yeah, I've done the contractor bit before (though not in the civil service) and the pay was nice but I've been very grateful for the support you've mentioned over the last couple of years. I've also seen the ruthless cutting of contractors you mentioned there - it's such a contrast to permies where it's near-impossible to lose the job once you've got it.
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Sep 4, 2020 12:45
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Thing is, as mentioned it's only good until they decide to restrict your accounts - it's not really a consistent source of income. I miss the days of absurd blackjack bonuses
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Sep 6, 2020 13:35
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NGC773 posted:Is there anyway to do matched betting in physical bookies? There is a street with about 8 different bookmakers on that is close to me. No, cause physical bookies aren't going to offer you bonuses, decent odds or a way to easily lay off a bet (obviously you could do a double chance in sports with draws but they're not always offered in online bookies let alone offline) Physical bookies pretty much only exist to launder drug money through the roulette machines and take thousands off a few whales.
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Sep 11, 2020 10:52
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Breath Ray posted:r I mean, the upfront cost keeps getting bigger because people are investing in it and have been for ages
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Nov 16, 2020 10:39
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Drone Evil posted:Another factor is, I'm not earning as much as I could - I have an Engineering degree that I am not using - I will change this eventually, but my current workplace is *very* secure from Covid-related disruption and is a guaranteed stable income source with which to ride out the pandemic, I even get 100% wage while furloughed, so I am hesitant to leave this secure position when most people I know are getting cut loose left and right. I'm just wondering what I can start working on while I'm here now that I've got a fair amount saved. In a post-pandemic future I'll look at getting back into "professional" engineering to max my earnings. Engineering is one of the first professions to go to complete poo poo during a recession and boy are we in a big one of those
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Nov 29, 2020 20:08
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If you're public sector, not putting into the pension scheme is usually setting quite a lot of money on fire
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Dec 1, 2020 01:14
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Saros posted:Uh definintely dont roll the military one in with anything else without a lot of careful checking. Until 2015ish I think it was a final salary pension and probably the most generous pension in the country. Beat me to this, your local authority one will be okay but unsurprisingly older army pensions are the tits
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Dec 4, 2020 13:38
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sebzilla posted:ALAB Hell yeah Deketh: if you're happy with effectively gambling with the £2000 then yes that seems like a decent split, but be aware that's basically what's happening
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Feb 11, 2021 13:37
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Clarence posted:What's the best comparison site to find a new mortgage? (Is this the right thread to ask that?) We just used MSE and a spreadsheet to work it out. For what it's worth we're in a very similar position to you, and in our view it's unlikely that Brexit is going to make interest rates spiral out of control. It's going to be a shitshow obviously, it's just not going to affect this end of things. You're also going to really struggle to find one without penalties for paying off early, and these are going to be harsher on a 5yr fix than a 2yr. With that said, it can hardly be that bad to fix for a long time right now and most fixes let you overpay 10% of the balance each year
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Apr 6, 2021 09:27
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Also worth remembering it's better to have tax-inefficient investments than straight up cash once you've exhausted things like ISAs (unless everything is crashing obviously)
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Aug 12, 2021 12:49
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Just Another Lurker posted:Another pension related question. Do you get any particular benefits for contributing to that pension (eg is it especially tax-efficient, does the contribution get matched, etc)? If there's no specific benefit, it's probably best to shop around and find a private pension that offers a good balance of risk profile, cost and return. This will be super dependent on your personal circumstances though and you really might do best talking things through with an actual financial adviser to make sure you're covered for effectively retiring now
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Mar 15, 2022 14:39
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Hobo posted:It's pretty much always worth going for a fixed rate, the question is more how long you should fix for. As Doccykins mentions the rates for 2 and 5 year fixes are a bit odd now - essentially the gamble you're making is that fixing for 2 years might allow you a better fix afterwards than a 5 year one would overall, but with how hosed up the plans are now the stability of a 5 year fix doesn't come with the usual downside of a higher rate. I've even seen some 10 year fixes that are basically the same rate as a 2 year fix. The cheapest fixes I can find on my place at the moment are a 7 year, a 5 year and a 10 year. A 2 year fix is around 0.25% more expensive than the 7 year one. Wish I could fix right now but got some months to go 
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Sep 27, 2022 13:17
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Sad Panda posted:If you're taking out a fix, be attentive of the penalty to break. I had a fixed with Coventry which was 1.4% until next year. Closed and it will cost me 4 months interest. Worth it as I an account with 1.8% will have matched it by the end of this year and be ahead by next. I think I'd be on the hook for 1% of the entire balance, which is a bit spicier than I'd like. I'll still do the maths, but jumping onto a long-ish fix at 3.5% now isn't nearly as attractive as your 1.8%
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Sep 27, 2022 17:36
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Sad Panda posted:Just had a look on https://www.moneysavingexpert.com/savings/savings-accounts-best-interest/ and Yorkshire currently 2.5%. Given its speculated to go up more, that seems like the better option. Oh, I’m on about mortgages, not savings
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Sep 27, 2022 18:03
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Yeah, remember that you're talking about a decades-long investment here - this won't be the only stock market crash in its time.
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Oct 12, 2022 19:49
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Clarence posted:Six months ago I opened a Vanguard account and I've been paying in a regular (small) amount each month since. The country is currently on fire, the idea is that over the long term it averages out to slightly less on fire E: also by avoiding putting it in now you're effectively saying you think it's going to get worse before it gets better, which could well be accurate but I don't think anyone here knows that for certain
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Nov 4, 2022 04:17
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Clarence posted:What's a good cashback credit card? I currently use a debit card and that's stupid. Amex is pretty much always going to be the best game in town, but check MSE. I have the Platinum Cashback CC and make a couple hundred a year. It’s obviously not usable everywhere but it’s more widely than you’d expect mfcrocker fucked around with this message at 11:40 on Apr 4, 2023 |
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Apr 4, 2023 11:37
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With late stage capitalism being a bullshit rollercoaster ride, I like the idea of owning a house outright because regardless of whatever else happens, it should roughly be worth 1 house. Taking a year's worth off last year has worked out pretty well given our fix ends in a month, turns out our monthly payments are going to be the same But yeah, in general you're all right and saving it makes way more sense
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Apr 5, 2023 11:29
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MSE is pretty much the first stop for anything that's not complicated enough to require a financial advisor
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Aug 8, 2023 09:59
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I'll be honest, this seems like a terrible idea but I'm not you and I don't know your circumstances.
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Feb 26, 2024 18:39
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sebzilla posted:There's also part of me that wants some control over where the money goes in the long term which is why I'm shying away a bit from an account that automatically goes to her at 18. Standard parental thoughts like "spend it on university or a house deposit" stuff. Or at least most of it. This is probably best handled by giving her a good financial education. She'll likely still want to do the odd dumb thing at 18 with a huge lump sum of money but hey, that's her prerogative, and hopefully it won't be the whole lot on something dumb 
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Feb 27, 2024 14:07
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DiscoWitch posted:I'm Josefs partner, hello! So a few things: we don't accrue any interest on credit, its pretty much a case of using it to pay it off for building our credit score so we are well within our means there, a lower savings goal would mean we wouldn't dip in at all and probably lose the cards from them not being used. I'm pretty knowledgeable about savings as that's my area, but for our mortgage we are litteraly on track for our deposit being ready by June so that's the thing, we are looking at houses for around 120 grand and lower because the area is full of them and i need to stay in the local area due to having shared care with our local GP and my private clinic. It kind of puts a LISA off the table because it would just be delaying getting the house at this point, we could easily have over a 10% ltv before September, but working for a financial institution we will get a far lower ltv product if we want at a very good rate Honestly, it sounds like you two have got your poo poo together and are close to realising your goals.
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Mar 20, 2024 12:39
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