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I'd be inclined to invest in the cheapest tracker fund(s). Just need to decide which index you wish to track. I have used a deicretionary fund manager for years. All that happens is that they deduct value - as costs are a huge drag on performance. In good times their fees are hidden but in bad times they take a few thousand a year and you get no return. The whole investment management industry is pointless and deducts value from its customers. I just can't be bothered doing it myself but its expensive!
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| International Chairman | 48326 | No
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The same applies to most, if not all, of our posters.
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| Club Owner | 4195 | No
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| Feb 2004 | 21 years | |
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| May 2021 | Apr 2021 | LINK |
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| Buy a house in a student area. Rent it out to 3 or 4 students at £300 pcm each.
You will pay your mortgage and generate a reasonable profit. Just remember that any income from this should be declared to the tax man.  I know loads of people who rent houses out and don't declare the income! |
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| International Star | 3605 | No
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| Jul 2012 | 13 years | |
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| May 2016 | May 2016 | LINK |
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| Quote The Video Ref="The Video Ref"Buy a house in a student area. Rent it out to 3 or 4 students at £300 pcm each.
You will pay your mortgage and generate a reasonable profit. Just remember that any income from this should be declared to the tax man.
I know loads of people who rent houses out and don't declare the income!'"
Dont forget to factor in changing the carpets, beds and kitchen cabinets once every year, at this time of year the streets of Headingley are rammed full of skips full of junked furniture as landlords try and get the premises ready for the autumn term.  |
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| International Chairman | 587 | No
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| Dec 2001 | 23 years | |
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| May 2024 | Dec 2021 | LINK |
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| Quote tb="tb"I feel strangely obliged to point out that RLFans is not registered with, nor regulated by, the FSA and is not qualified to offer financial advice'"
Damn... I was just about to refer the site to our Enforcement Division lol |
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| Player Coach | 1521 | No
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| Feb 2009 | 16 years | |
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If you have the money to buy a 2nd property, then do so to rent out. bricks and mortar is the future, majority of people cannot afford to buy.
Stocks and shares, then you are gambling on something ( I presume) you know little or nothing about. Apologies if you do.
Pension schemes..avoid like the plague. You've got 40 years until retirement, though no doubt it will be 50 when your terms. A bloke who you don't know from Adam, will give you a load of bull as to how much you will get if you pay in x amount/ month. Don't believe him. I've lost count of the number of people I know who have been told, " the schemes have not performed as expected." and end up getting a lower figure every month. Pension schemes are as big a con trick as the pyramid scheme.
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| Player Coach | 5463 | No
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| Jun 2009 | 16 years | |
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| Jan 2016 | Oct 2014 | LINK |
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Walnuts!!!! Get it all on Walnuts!
uk.finance.yahoo.com/news/status ... ector.html
Being serious for moment. One's hobbies and interests depending upon what they are, can be fantastic investment opportunities. You'll be more knowledgeable on the investments you've made if they are a hobby of yours. A friend of mine has always had a large interest in military history. And has over the last few years turned that into a way to store his life savings. With great success. To use management speak, people are looking outside the box, outside traditional investments for way's to store and generate funds.
You only have to look at my avatar to tell you what I've got all my life savings invested in. Being able to enjoy my savings knowing that I can cash them in at the the drop of a hat. Suits me and my lifestyle perfectly.
The day's are gone when large sums of money can be left in an account to generate a healthy interest. Hell! If the bank goes under you won't get back the amount they were holding (£8k maximum iirc).
Still as others have said a second home is the route to go down. 
Just how lucrative that is, when unless you've got the time you'll have to use a lettings agency, plus the reasonable chance that the place may well require some maintenance now and again. We all know what student's are like, most of us were one at sometime. Or am I just condemning my former rowdy self. |
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Walnuts!!!! Get it all on Walnuts!
uk.finance.yahoo.com/news/status ... ector.html
Being serious for moment. One's hobbies and interests depending upon what they are, can be fantastic investment opportunities. You'll be more knowledgeable on the investments you've made if they are a hobby of yours. A friend of mine has always had a large interest in military history. And has over the last few years turned that into a way to store his life savings. With great success. To use management speak, people are looking outside the box, outside traditional investments for way's to store and generate funds.
You only have to look at my avatar to tell you what I've got all my life savings invested in. Being able to enjoy my savings knowing that I can cash them in at the the drop of a hat. Suits me and my lifestyle perfectly.
The day's are gone when large sums of money can be left in an account to generate a healthy interest. Hell! If the bank goes under you won't get back the amount they were holding (£8k maximum iirc).
Still as others have said a second home is the route to go down.
Just how lucrative that is, when unless you've got the time you'll have to use a lettings agency, plus the reasonable chance that the place may well require some maintenance now and again. We all know what student's are like, most of us were one at sometime. Or am I just condemning my former rowdy self. | |
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| International Chairman | 14845 | No
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| Dec 2001 | 23 years | |
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| Oct 2021 | Jul 2021 | LINK |
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| Quote Live Wired="Live Wired"If you have the money to buy a 2nd property, then do so to rent out. bricks and mortar is the future, majority of people cannot afford to buy.
Stocks and shares, then you are gambling on something ( I presume) you know little or nothing about. Apologies if you do.
Pension schemes..avoid like the plague. You've got 40 years until retirement, though no doubt it will be 50 when your terms. A bloke who you don't know from Adam, will give you a load of bull as to how much you will get if you pay in x amount/ month. Don't believe him. I've lost count of the number of people I know who have been told, " the schemes have not performed as expected." and end up getting a lower figure every month. Pension schemes are as big a con trick as the pyramid scheme.'"
Not a great time to buy property, IMO. Rental yields of just 5% with the likelihood of capital depreciation over the next decade. When my mate bought his last house he was getting 15% and rampant capital appreciation. Those days have gone for the forseeable. Having said that, you can do well in certain areas with local knowledge.
The stock market has also gone nowhere for quite some years. However, longer term it should, logically speaking, provide the best returns (IMO). My reasoning, is that that companies and businesses drive the economy and large companies are by definition successful companies.
The only good thing about pension schemes is the fact that if you are a higher rate tax payer it only costs you £60 to save each £100. But, the big problem and complete con is that the insurance companies take all of your capital, which you never get back (unless you die before taking benefits and have a return of fund scheme, when the capital can go to your dependents - still not you!). |
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| International Chairman | 1437 | No
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| Feb 2002 | 23 years | |
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| Quote Live Wired="Live Wired"If you have the money to buy a 2nd property, then do so to rent out. bricks and mortar is the future, majority of people cannot afford to buy.
'"
IMO this is terrible advice - house prices are being kept artificially inflated by the current ultra low interest rates and other help being afforded to mortgage holders atm.
If/when the Euro pops there will be another huge financial crisis which should see huge falls in house prices as people default on mortgages and get their homes reposessed.
Personally I'd be looking to buy PHYSICAL Gold or Silver if I had any savings. However you then have the problem of where to store it safely. It's a tough question in the current economic climate. |
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| International Chairman | 14845 | No
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| Dec 2001 | 23 years | |
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| Oct 2021 | Jul 2021 | LINK |
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| Quote LeighGionaire="LeighGionaire"
Personally I'd be looking to buy PHYSICAL Gold or Silver if I had any savings. However you then have the problem of where to store it safely. It's a tough question in the current economic climate.'"
Problem is gold and silver are very volatile price-wise. They will at some point drop suddenly and dramatically. If you think we are heading for financial Armageddon the best investment (probably the only investment) to make would be farmland (plus a gun to protect you / it with). |
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| International Chairman | 5064 | No
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| Aug 2002 | 23 years | |
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| Sep 2017 | Feb 2016 | LINK |
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| Quote Dally="Dally"The only good thing about pension schemes is the fact that if you are a higher rate tax payer it only costs you £60 to save each £100.'"
If you pay into your pension via salary sacrifice you can get £120 added to your pension for every £60 reduction in your net pay (the additional £60 comes from income tax + employers NI). It's roughly similar for basic rate tax payers: income tax + employees NI contributions + employers NI contributions add up to around the same amount. |
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| Club Coach | 8119 | No
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| Jul 2005 | 20 years | |
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| Apr 2020 | Apr 2020 | LINK |
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| Whatever you do don't bother to pay anyone to actively manage a portfolio of equities for you - more or less total waste of money unless you can afford to pay for the best (which if you're having to ask on here we can safely assume you can't).
I'm more or less the same age as you and my retirement planning will consist largely of emigrating to a poor yet beautiful country.  |
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I know loads of people who rent houses out and don't declare the income!
