Investment & Investing

Management fees. Don't want no stinking management fees. Where's my free hundy?

The referral code only benefits the referrer tbh. New customer gets no fees for a bit which could be handy.

What's Nutmeg rate like compared to NS&I and do I also get $100 cashback?

Nutmeg is stocks and shares so it's investment not savings so expect 3% and the rest over a couple of years unless you are unlucky.

Cash ISAs are mostly pointless now as the tax rules on normal savings have changed to make them largely uncompetitive.

Fees based on earnings but I presume there's a minimum.

Then again I've got a ii account - but it's essentially a SIPP fund.

Is there some way to use the same account but keep the pension pot and the ISA separate? Or do people normally create separate accounts for this?

They'll have to be separate as they are administer different with regards to hmrc.

Yeah I figured as much. I need to have a look at its interface to see if I can have an ISA under the same username but treated separately from the SIPP.

I also wonder if it's worth moving my SIPP into my current employer pension fund or keeping them separate? Would save some fees but then I'd be sticking all my pension eggs in one basket.

I've not looked in any detail but you can have both an ISA and a pension under the same username on Nutmeg.

Ok, just looking in II and I have a SIPP and an Investor Service Plan, so it's costing me £20/month, not £10 like I expected. Yeah, for some reason Mar - April my monthly account fee doubled. I don't remember being on a free deal or anything but I guess it's possible.

EDIT: Looks like they're waiving SIPP fees now for 12 months so I reckon the first year I was probably not paying the SIPP fee.

How does £20/month compare to other SIPPs?

How does £20/month compare to other SIPPs?

Hargreaves Lansdown (who I'm with) has a maximum annual charge of 0.45%.
Based on my back of the envelope maths, if you invest more than £55k then Nutmeg has cheaper fees.

More info here: https://www.moneysavingexpert.com/savings/cheap-sipps/#bestbuys

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How about a Lifetime isa..with the top up.
My hunch is that it wont last with current government spending.
Has got it limitations but good for longterm pot.

Rather than recommend something I'm just going to tell you what we have

• JISA with..uh can't remember wife deals with it I thought they were dumb
  
• Both of us have a LISA with Nutmeg. Although restrictive they are a sure fire way to earn 25% and the money going in to it is relatively small beer
  
• I have a Nutmeg S&S ISA too, most goes in to this. It's set to '7' and it's done fine.
  
• And I have a Nutmeg pension
  
• Also have a comedy pot where the risk is set to 11 (10) for jokes. Gets £100 p/m.
  
  

There are cheaper ways of doing all this, but I got the feeling they weren't quite cheaper enough to make it worth the hassle. YMMV.

I have a pension from civil service, which lost money last year. Do I fuck around with that or let the plan do it's thing.?

What type? Defined benefit or Defined contribution? Sounds like the later, in which case for an easy life you could consider consolidating it. But you absolutely need to know it inside out before doing anything to it. The scheme admin might help you.

The scheme admin might help you.

Let's just say I work for PHE and then say no more.

Look at Vanguard, they generally have the cheapest fee's around:
https://www.vanguardinvestor.co.uk/investing-explained/stocks-shares-junior-isa

LISA: I'm 45. Missed that boat.

The best fee is going to depend on the value of your pot, at some point the move from fixed fee to percentage based fee tips the balance, always worth checking Monevator:
https://monevator.com/compare-uk-cheapest-online-brokers/

Other option if super keen on financial planning is opening kids a pension, if you fill that for a few years they then have 50 years of compound growth and can retire on a fat wedge but obviously no way for them to access it so isnt going to help with uni/wedding/deposit etc. like a ISA could

LISA: I'm 45. Missed that boat.

You can put in up to £4,000 each year, until you’re 50. The government will add a 25% bonus to your savings, up to a maximum of £1,000 per year.

Not really

went to nutmeg, clicked LISA. asked for age. told me to fuck off.

Yeh you have to be under 40 to open a LISA

Sadface

Yeh you have to be under 40 to open a LISA

Double sadface

Tripple sadface as that's spelled out in the line immediately above the one I copied and pasted up there ^^^

I'm 45.

Wtf?!

Yeah. 45 and crushing it.

@amey looks forward buying a pedalo for the commute when he is your age.

crushed by it.