Investment & Investing

Ha, this, and ironically the fund im investing in via a JISA for my daughter at the moment is a Vanguard one but want the option to chop and change over time.

A case of Port was another idea but wouldnt trust myself not to drink as soon as she got to dating age*.

*never ever going to be allowed on dates. Ever.

I'm planning on doing this as well - for a nephew - but haven't got round to it / found the right options yet. Was thinking of Premium Bonds (with reinvested winnings), but again these can only be purchased by the child's parents or grandparents.

Thanks @TW. Are you sure a HL JISA is free to run? Quick google suggests a 0.45% charge on the first £250k.

Vanguard offers a JISA with 0.15%, their LifeStratey funds have a 0.22% charge, so all in it would be a bit cheaper than HL.

I'm looking into JISA as well right now for my daughter. We currently have a halifax regular saver which pays 4.5% for a year which we put £50 a month into, so I am looking into what to do with the £600 + interest that comes out of that each year. Can't decide between a standard JISA (for example Coventry BS pays 3.6% currently) and a stocks and shares one, which obviously is more of an unknown... any one got any advice?!

We currently have a halifax regular saver which pays 4.5% for a year which we put £50 a month into, so I am looking into what to do with the £600 + interest that comes out of that each year.

wot?

?

Think he means it pays 100% interest, might sign up for one myself.

£600 seems like a lot of interest on £50 a month, unless you've been doing it for a long time, but then most of these 'high interest' accounts don't allow that kind of balance.

Just chucked a few quid into a high risk nutmeg and set up a direct debit.
I best get my Lambo next year this time or I will be furious, again.

ah sorry confusion.

£600 is the principal. I mean £600 principal, plus the interest this generates. The account closes each year, so you start again.

.

What he said.

Sorry, just edited it as I saw others got there first!

Oh I see! Yeah, that makes sense.

I mean if you find a regular saver that allows you to leave the principal for the interest to compound that would be great, but suspect that is wishful thinking...

Buy this book. Skip the first half of it if you want and get to the investment part.

https://www.amazon.co.uk/dp/1916412416/ref=asc_df_191641241658599145/?tag=googshopuk-21&creative=22110&creativeASIN=1916412416&linkCode=df0&hvadid=310816411121&hvpos=1o1&hvnetw=g&hvrand=16562466227517152430&hvpone=&hvptwo=&hvqmt=&hvdev=m&hvdvcmdl=&hvlocint=&hvlocphy=9072496&hvtargid=pla-525257477195&th=1&psc=1

Best £7 you could spend right now

Done.
I have sooooo many books I need to read now, not enough time in the day...

Read this one first.

Can you paraphrase? Am I doing it right yet?

You're on the right track but there's a shit load of useful information that you really want to know.

Can you paraphrase?

Don't spend much of your income. Invest wisely and try to get a passive income that covers your miserly expenditure.

Don't have kids
If you do, contemplate how to get free child care. Otherwise double mortgage payments

Fast and Furious?

Top tips, cheers chaps.
Spending is pretty much at a minimum? Well no, not at all, but I'm saving as much as I spend without needing to live on beans and water which I think is close enough.
Passive income is a hard one and not sure how I'd achieve that - there is potential though.
Kids are an issue, and they are going to be damn expensive to even obtain... (medical shit).

What would you lot smash 40k into (other than coke and hookers) for a pension fund?