Investment & Investing

Can’t find a pension specific thread so here goes... wife has suddenly decided to move an old pension she has with Arcadia before Sir Phillip Green robs it. Needs to be signed off through an IFA, local nobody or worth tracking down someone recommended? We are both clueless.

What kind of pension is it?

• Defined benefit
  
• Defined contribution
  
• Something else
  
  

https://www.pensionwise.gov.uk/en/pension-types

Whilst on pensions. Is it all possible to release my private pension fund that I’ve paid into for about 10 years before I left the UK without getting thoroughly screwed over on taxes and penalties? It’s with Aegon fwiw.

Ummm, defined benefit I would say because it was based on a final salary. She left in 2006 and kind of forgot about it.

OK you might need to be very careful, assuming she was there for some time. See the Defined Benefit section here.

https://www.pensionwise.gov.uk/en/transfer-pension

Very good time to do it as valuations are at all time highs (due to low.interest rates)...the key is that is invested well.
Cinelli laser double disc is a good investment btw

Ta for link, she’ll need an IFA anyway as it’s over £30K but isn’t too bothered about taking a hit (within reason), it’s more to do with a hatred and distrust of Sir Phil after he decimated the BHS pensions.

I presume this stuff is bread and butter for IFA’s, if we just went with someone local (FSA accredited etc) it can’t go that wrong... can it?! She just wants security over max gains.

Hey guys, Ive been also investing for the past 2 years now. Before that all my salary would be spent without any consideration. I started to invest in the stock market with Lansdown but hey had huge fees on buying stocks. But then I discovered Freetrade which is super easy to use. Been a customer for over a year now and super happy with them because they have £0 fees on purchases plus ISA account. If you looking for a platform to invest in I can highly recommend!
If you use my link we both get a freeshare to start with. Thanks!!

https://api.freetrade.io/freeshare/?code=IVOAPD9QJP&sender=lxH5PCIG

Hey, the Funds Spot the Dog list was announced today so worth checking out

Also quite please with two investments into child ISA I made - Polar Capital Insurance and Polar Capital Biotech. Both up good double digits this year and beating benchmark

Polar Capital Biotech

I bought this too. Its been doing great for me. Wish I'd put more in now.

Edit: Actually I'm in Polar Capital Global Tech
https://www.youinvest.co.uk/market-research/FUND:B42W4J8

I signed up using your referral.

Thanks man! enjoy your freeshare ;)
I also updated the link so there is one more referral left for grabs ;)

Referral LINK

Of course now I've got a (freetrade) free share referral too.

Spread the love people.

Referral link.

Thought this might be useful.

Tax back on your PPI claim.

https://blog.moneysavingexpert.com/2019/04/martin-lewis--had-a-ppi-payout---if-so-you-can-reclaim-the-tax-o/?_ga=2.55691947.1045688576.1567586772-1031872884.1565082793

Cross-posted from AQA:
I would like to "disinvest" (from petroleum, harmful resource extraction, habitat destruction, war, oppression etc).
What personal current/savings banks do people recommend?
What investment thingies do people recommend? I'm not talking huge sums here, but eg an ISA.

Nutmeg have socially responsible fund, however...

https://www.vox.com/future-perfect/2018/12/18/18136214/impact-investing-socially-responsible-sri-report

https://www.newyorker.com/business/currency/does-divestment-work

tl;dr

• Obviously, there are some companies that do 'bad' e.g. tobacco companies, arms manufacturers but lots of companies that might be doing 'good' will have to do some bad things.
  
• Impact investing, in general, underperforms traditional funds. You'd be better off to donate the difference to a highly effective charity, e.g. ones recommended by GiveWell. FYI they currently recommend the Malaria Consortium at the most cost-effective charity to give to at the moment.
  
• There are arguments that disinvestment actually causes more harm
  

Not investment but not entirely unrelated.

I'm considering lending a friend some money toward a house deposit. They've not asked and I've not offered yet. I don't have any concerns about trustworthiness or ability to repay, and I've no need to make any money out of it. I'm happy to lose the equivalent interest by not investing it.

But when applying for a mortgage the bank will obviously ask about anything owing. Ideally I (and I imagine my friend) would like it to be above board. So calling it a gift probably isn't advisable(?).

Is something like the following at all legit?
Lending (for example) £10,000, at a rate of 0% interest, to be repaid over the next 20 years, allowing unlimited overpayments.

In reality, they'd be able to repay over a couple of years, but I suspect the bank would prefer seeing an outgoing of £40 instead of £400pm.

Naturally I'd just forward the bank manager to this thread as proof that I've been properly advised by LFGIFA's.

I'm looking for a place in Spain, if you've got spare cash... I'll even put your name on one of the villa's bedrooms...

How many meals would that cover? #hippyisfat

£10k, in Spain, that's quite a decent amount of Sangria.

I know banks will ask where the money comes from but I don't know how they view interest-free loans from friends in the grand scheme of risk to themselves.

No offence but this is a fucking terrible idea

None taken, but why?
It's a risk I'm happy to take

As terrible as my friend signing on to a mortgage to assist with affordability checks but having no input otherwise?

That weird paradox;

The person you might consider lending to has to be close

But

The acting of lending money to them can only push them away - especially when such an emotive asset is involved, their home

Add the maxim - when we 'lend' to friends we should not expect to see the money again.

So a recipe for trouble. At a time when borrowing is so, so cheap.

At least the tax implications are relatively straight forward - unless you die.

It's not uncommon for a family member to give another a 'gift' for a house deposit, I am considering something currently with giving someone in my immediate family money for this purpose. The advice so far has been to sort out amendments to Wills in the unfortunate circumstance one of us pops it.

Giving to a friend, I don't imagine it's much different, but in any case the mortgage lender hasn't asked, does it matter to them any more that you won a raffle or inherited a tin mine in Devon?