I have shares with Trading212 which is a really simply platform. I bought at the drop from covid and at one stage was down a few % highest I’ve been was up by 47% and I’m now sitting at 35% gain. Some are making big, others losing big but obviously overall up.
Yes. Investing in shares of established companies I use and like yielded the best results. Using a brokerage that has the lowest fees per transaction is a good idea. Sound advice I received: Dollar cost average your money into the market. This means feed your money into the market in piecemeal. Don’t try and time your entrance because the stock market is unpredictable.
Yes I started last year. I was scared to invest at the start if I'm being honest but so far I have received £63 in dividends and I just wish that I started sooner rather then at the age of 29, but I have also influenced my younger 21 year old sister to get started. I would really recommend the youtube channels: the humble penny and nicole at the frugal cottage. I initially opened a stocks and shares ISA with moneybox then switched that to vanguard as the monthly fees were too high. Something like £1.38 or £1.20 after their initial free three month offer. I still have my vanguard account, but I mainly use freetrade as it's commission free investing so no charges for buying and selling shares. They also let you buy fractional shares for the larger American companies.
I do this with dividends. They’re enrolled to automatically reinvest.
Oh that reminds me on Freetrade if you're a UK resident you have to fill in a W-8BEN form in the app so you don't pay 30% tax but it's still around 15%. I have more money in UK companies then US ones.
I think IRA’s are America’s equivalent to ISA’s. My IRA account is free. It is a great investment option over here because once you pay taxes on the money you deposit, that money can grow and grow tax free. It is regarded as a long term investment option. Say you use it for retiring in 30 years, you are able to assume that taxes will likely be higher and could eat away at your gains. So it is better to clear that tax hurdle now via an IRA so that your net money is larger.
I have a stocks and shares ISA with Hargreaves Lansdown and invest in funds - I feel it’s less risk than individual shares. I’m happy to give share the funds I invest in if you want?
These are two different things.ETA: I don’t know what’s meant by a 2000 pound dividend cap. I see that there is a 20,000 pound cap on how much money you can put into your ISA each year.
Individual Savings Accounts (ISAs)
Types of ISA available, the tax-free ISA allowance, withdrawing money and transferring ISAswww.gov.uk
I made 5k profit on shares in January and 1.1k in September. I’m currently about £300 down on what I’ve put in recently so just trying to make that back at the moment. I like to go for the high risk high rewards trades. Also bought small amounts of crypto around £300 all together probably but I’ll probably keep them for a long time.
Any other takers?
I’m going to do it backwards as I think I’ll find it easier to save more money at the start of the year than the end
Right, I was thinking a dry January is going to be the easiest time to save.
I did this too except a different amount so I have £500 to spend. Feeling so pleased with myself haha!
