Beginners guide/ share dealing

Cinderellas · 10 Jan 21, 03:33 PM

Ok I must say as I’m not working at the moment my thoughts are turning to how to fill my time.

I’ve worked for financial institutions most of my life and like to think I’m money savvy. I have some spare cash and would like to start dabbling in the stock market. I’m well aware of the risks. My pension is currently in stocks and shares and I’m very impressed with the return at the moment. Im under no illusions though and am aware that things can change quite quickly.

Where do I begin? Any tips/guidance?

Thanks 😊

**cheekydeeky** · 10 Jan 21, 04:30 PM

I’m also wondering how to start. Most of my savings are in premium bonds but I keep a small amount in the bank so thinking of using that.

Father in law has offered to make up any loss should that happen (can’t refuse an offer like that)

.

Cinderellas · 10 Jan 21, 05:58 PM

Originally Posted by cheekydeeky

I’m also wondering how to start. Most of my savings are in premium bonds but I keep a small amount in the bank so thinking of using that.

Father in law has offered to make up any loss should that happen (can’t refuse an offer like that)

.

What a nice father in law 😊

We also have premium bonds and the winnings are dwindling! Need something to keep me occupied and willing to put the research in. I’ll let you know if I find anything out

tspill · 10 Jan 21, 06:07 PM

First thing is to understand what your objective is.
How much? For how long? What and how much financial risk do you want to take (Savings have inflation risk; investments have capital risk)?

Have a read at Tim Hale's "Smarter Investing" book. It you are really interested that will give toy a really good start. And some confidence to start.

Alternatively, chat with an INDEPENDENT Financial Advisor.

For savings, Premium Bonds can be as good as it gets right now, but you will lose money against inflation (unless you get a good win). Their nominal rate (taking out big wins) I think is now around 0.8%.

For investments, there are the likes of multi-asset funds (that contain thousands of shares and bonds) from the big investment companies such as Vanguard. Look at their LifeStrategy range (five different risk levels).

Cinderellas · 10 Jan 21, 06:54 PM

Originally Posted by tspill

First thing is to understand what your objective is.
How much? For how long? What and how much financial risk do you want to take (Savings have inflation risk; investments have capital risk)?

Have a read at Tim Hale's "Smarter Investing" book. It you are really interested that will give toy a really good start. And some confidence to start.

Alternatively, chat with an INDEPENDENT Financial Advisor.

For savings, Premium Bonds can be as good as it gets right now, but you will lose money against inflation (unless you get a good win). Their nominal rate (taking out big wins) I think is now around 0.8%.

For investments, there are the likes of multi-asset funds (that contain thousands of shares and bonds) from the big investment companies such as Vanguard. Look at their LifeStrategy range (five different risk levels).

Thank you so much. We have a financial advisor so I may seek his advice. Just trying to read up before I commit!

tspill · 10 Jan 21, 08:08 PM

Originally Posted by Cinderellas

Thank you so much. We have a financial advisor so I may seek his advice. Just trying to read up before I commit!

Be very careful. There is a huge difference between a Financial Advisor and an INDEPENDENT FA. That word Independent makes the world of difference. I would not even consider using an FA - always use an IFA.

Good luck.

Sew109 · 11 Jan 21, 07:36 AM

I manage my own pension (through an IFA) int he 7 years since I moved it from Scottish Widows it has not had less than 8% return and 22% one year. This is done carefully and with advice so although it’s self managed units really just input I give.

I put £10k into a Hargreaves Landsdown Stocks and Shares ISA at lockdown I have taken about a new kitchen and have £17k left in the best performing overall stock ins MGM grand something like 103% and SMT fund over 100%. I have bought and sold a lot.

When I put in the £10k I was prepared to lose it, though losing it all is incredibly unlikely, I have two tips firstly don’t make trades under say £1000 as the fees cut in too much and secondly have sell targets both profit and loss and unless there is something unusual that has changed since you made to target stick to it.

I am not some super investment products and have lost money in the past but in the pandemic it has been easier, MGM shuts price falls it will open buy, oil us have drops share price falls buy, home shopping will go up buy.

I have found Hargreaves Landsdown to be the best option as it’s simple and you buy and sell on overseas markets

10 Jan 21, 06:07 PM	#4
	10 Jan 21, 06:07 PM tspill Imagineer
tspill Imagineer Join Date: Feb 13	First thing is to understand what your objective is. How much? For how long? What and how much financial risk do you want to take (Savings have inflation risk; investments have capital risk)? Have a read at Tim Hale's "Smarter Investing" book. It you are really interested that will give toy a really good start. And some confidence to start. Alternatively, chat with an INDEPENDENT Financial Advisor. For savings, Premium Bonds can be as good as it gets right now, but you will lose money against inflation (unless you get a good win). Their nominal rate (taking out big wins) I think is now around 0.8%. For investments, there are the likes of multi-asset funds (that contain thousands of shares and bonds) from the big investment companies such as Vanguard. Look at their LifeStrategy range (five different risk levels).

11 Jan 21, 07:36 AM	#7
	11 Jan 21, 07:36 AM Sew109 Imagineer
Sew109 Imagineer Join Date: Mar 15	I manage my own pension (through an IFA) int he 7 years since I moved it from Scottish Widows it has not had less than 8% return and 22% one year. This is done carefully and with advice so although it’s self managed units really just input I give. I put £10k into a Hargreaves Landsdown Stocks and Shares ISA at lockdown I have taken about a new kitchen and have £17k left in the best performing overall stock ins MGM grand something like 103% and SMT fund over 100%. I have bought and sold a lot. When I put in the £10k I was prepared to lose it, though losing it all is incredibly unlikely, I have two tips firstly don’t make trades under say £1000 as the fees cut in too much and secondly have sell targets both profit and loss and unless there is something unusual that has changed since you made to target stick to it. I am not some super investment products and have lost money in the past but in the pandemic it has been easier, MGM shuts price falls it will open buy, oil us have drops share price falls buy, home shopping will go up buy. I have found Hargreaves Landsdown to be the best option as it’s simple and you buy and sell on overseas markets