I've got some Magic Beans going for a grand, Foe?
I've got some Magic Beans going for a grand, Foe?
You can make investing a headache, or you can just ride the market.
Just get index funds, be they mutual or exchange-traded, and get to the point where you can solidly invest in six to twelve of them.
Buy into ones with low-expense ratios. Get a Standard and Poor's (S&P) 500, a mid-large cap international, an emerging markets, a frontier markets, a real estate investment trust (REIT), and a global water.
You can add to this with things like a commodity fund if you're feeling bullish on gold, a mid-cap S&P 400, global batteries, a US corporate bonds index, a country fund for Germany, etc.
Diversity is key.
Check once a year, every six months if you're feeling cheeky.
Use your remaining time on things you can control like your happiness.
Alright mate stick to architecture and boring posts about Edmonton's residential cycling paths.
Saving for what? I don't have a wife that's going to leave me.
would be nice to diversify a little bit though. It would also give me some incentive to be productive / read more when I'm not working. Ive survived two rounds of redundancy at my gaff. Hopefully I'm a bit more secure now.
I'm loyal to berty, spikes, but if you have any DONG going let me know.
Take out a mortgage, set up an investors agreement with friends, buy into property that you can rent out that covers the mortgage and taxes.
Seriously, though, the only people who have time to research the nooks and crannies of the market in an attempt to beat it are the people who spend 60+ hours a week researching the market who manage funds (be it personal or through an institution).
If you invest, just do so in a spread of funds that track how economies writ-large are doing. Cover things off with an international fund with mid-large caps to hit the bigger international companies, an S&P 500 because the world's money is in the United States, an "emerging" markets fund for the likes of China and South Korea, a frontier markets fund for the likes of Jamaica and whoever the fuck else because they're developing more rapidly than already-developed countries (what a shock), and then some more specific funds like if you want to track Germany or the UK, mid-level companies in the States, some long-term bonds, and some specific future-oriented sectors like water, medical technology or batteries.
Yeah. You can learn to read the markets as a way to understand the world better and make it a hobby, but don't make it a second job. People already do that job for you, and those manager-expense ratios are tiny when you realize how little you're compensating them for how much time you're saving for yourself to do things like watch High School Musical.
Has anyone ever taking equity out of their house? How exactly does it work?
Dunno. Stepchange can help though, they're free. Give them a bell.
https://www.stepchange.org/Howwecanh...Mortgages.aspx
I've got a few grand of debt at the moment which is pecking my head. The wedding has brought on a few months of overspend but I'm hoping to clear some of it off sharpish to give me some breathing space.
Do you mean you want a homeowner loan? Or do you mean this:"Equity release is a means of retaining use of your house or other object which has capital value, while also obtaining a lump sum or a steady stream of income, using the value of the house. The "catch" is that the income-provider must be repaid at a later stage, usually when you die."
I've not done my qualifications in the latter so couldn't help ya.
You just add it on to your mortgage. Not sure if it's a separate high interest sub-mortgage or part of your total.
I can get a top up loan secured against my house which is fine but it's the latter in LRs post I was interested in.
I suppose it doesn't matter whichever way you do it, just wondered what the differences were.
Got 70k sitting there in equity at the moment.
khgjhg
Thanks for the link hammer. For me it's more a case of getting it out of the way than major stress. One is a bill to the tax man, the other is two credit card debts (one 0% interest so less concern) which I would like to settle.
Are you taking it out for home improvement or for Vegas?
Adding a loan to your mortgage (and therefore increasing the compound interest) seems like a great way to spunk a load of cash away.
Can you sit tight and save for whatever it is?
It's to pay off some debt. Rate is a lot lower getting a top up mortgage loan over 5-10 years than a personal loan and while it would end up a bit more in interest in the long run, short term it could save hundreds a month.
No idea on that, I know you can add home improvement ones to your mortgage but not sure about general swag.
If it's credit card debt there are some ridiculously long 0% balance transfers out there. I wouldn't be adding in to my mortgage.
I'm flipping my current account to the one in here at Northern Trust. £100 switch + 5% rate for up to £300 a month saved for 12 months. Not a bad rate considering the economy at the moment.
You're not operating off shore yet? Raoul will be pissing himself when he finds that out.
You need to have some money to be able to hold it offshore.
Seeing as my Bank Account does fuck all but act as a piggy bank I'm going to jump ship. Ideally I want one of those accounts that gives cash back when you have bills paid via Direct Debit or that rewards you for making a deposit each month.
Anyone know where's best these days?
Santander 123, depending on your savings/incoming + outgoings. Check Money Saving Expert.
If it wasn't for my tendency to stack up cash in my current account, I'd be on a high-interest one like a shot. That's the real downside of it. Moving money constantly so you don't hit whatever your limit is.
Had a mortgage appointment on Friday. Chuckled when the advisor suggested my flat had gone up in value (the market here has crashed in reality).
On the plus side, I've knocked about 6 years off the length of my mortgage.
Only 14 more years of financial cripple.
Has anybody had any luck getting a credit card as a student before? I'm pretty fucked for money.
Yeah they usually do it without any issues so long as you've got a half-decent credit rating. I had one as a student.
I have serious cash flows issues right now. It's 2 weeks until pay day and I've only got £81 in my account, and I'm £100 in to my credit card. WTF.
Magic can never laugh at me again. At least it's me who starves not a small child.
You don't have a wife taking out £20 a day for 'stamps'
See if that kick boxer will pay for a shot of your wife.
Win win.
Ns and i are reducing their ISA rate again so I'm moving it to a stocks and shares with Nutmeg. Decided against the LISA even though it's generous.
I've also tried putting money into p2p like the house crowd and zopa. I reckon it's the only place you can actually get any kind of return.
What's the deal with the Stocks and Shares ISA's is it, as I suspect, basically the bank playing the stock market with your money? If they 'lose' is the money gone? If so, fuck that. Spend it all on gold.
NS and I -national savings and investment (government backed savings who do premium bonds, bonds and traditional ISAs (individual saving account tax free, each year an allowance is available for you to invest)
Nutmeg - they're a provider who offer funds to invest into. Stocks and shares ISA is similar to a cash ISA but it's more volatile as it's investing in the market. Same tax free on gains
Thehousecrowd - they are a company that sets up special purpose vehicles to invest in three areas. One is peer to peer lending with distrusted sophisticated property developers, two is investing in mid term in property developments, three is in property itself which is then rented to either business or individuals. Investing an amount sees a return on the capital you put in.
Zopa - another peer to peer lender who replace the traditional role of a bank. Money is placed into Zopa who then broker with people looking for a loan. They then repay their loan and you gain from the interest on the loan.
£11 left.
Tried selling my sofa but the guy didn't turn up.
Tomorrow is a great day. The wife's promotion payrise kicks in
Still the breadwinner bro
At least she can afford the rest of the food.
£15.14 left.
£375 down in the credit card.
#fucked
I thought you got a massive payrise? Is she partying it all?
I spent about £300 on the stag do I was at, the car insurance came off in July when I thought it was end of June, we had a wedding weekend past, I spent £110 on some framed photographs, I bought a luxury hotel room in Manchester for just before Christmas, I bought that Amazon Echo and finally a bottle of 6 times distilled Vodka.
/
With that kind of money you could've bought your child's favour instead.
What's your monthly take home Magic?