Is It Too Late To Start Investing?
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- Опубликовано: 2 июн 2024
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Disclaimer:
This is not financial advice. The reason it’s not financial advice is because it’s not tailored to you. We explain the principles of building wealth but if you want personalised advice, it’s worth speaking to a financial advisor. As with everything financial, please do your own research. We really encourage that because no one cares more about your money than you and if you learn the basics then it will change your life.
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Got burnt late in life by a cheating wife. Found some help on RUclips (Dave Ramsay, Caleb Hammer and of course Damien) I'm finally debt free. Currently building up my emergency fund and getting back on track. Fingers crossed I might actually get to retire at some point. Still not too sure about how or when, but thanks to you guys, im a lot more hopeful now 😊
You have a plan…good luck.
Good luck Buddy. Keep pushing and I hope one day you'll be chilling on a beach with a cocktail.
I’m with you Damien. 100% equities with 3 years cash until I die. You’re right that we’re living longer but I also think the de-risking as you get closer to retirement was more important when all you could do was buy an annuity. Now with flexi drawdown you can definitely afford to keep invested for the long term
Thanks guys for replying to my question.
So there's some hope 🤞😉
Thanks for asking it! There's always hope :)
Excellent attitude Cheers
I'm imagining that Month Python sketch "I'm not dead yet!" 😂
Tis but a scratch!
Great advice!
I started investing age 58 only last year in ftse global all cap index fund.. But made sure have cash ISA to see me through if it crashes. I got Vanguard stocks shares ISA and SIPP tax wrappers. Still working until 2032 retire then
Great advice guys.. totally agree 100% equities. and in my case 5 yrs cash when I get to my 60's. I'm 53 now. Bonds are sort of redundant now.. long gone are the days when bonds were 6% or more for over 10yrs.. that doesn't exist anymore. Back then Rich Millionaire had a set for life income. Morgan Hou:sal was asked about cash: his reply was his savings went into: YEARS.
Keep up the excellent work guys....
My wife and I are early 60s…we don’t work, our only income is my db pension £16k plus interest from a 7 year cash pot, but over those 7 years our income will increase as her db pension and both our state pensions kick in. We are 100% equities with the rest of our wealth and don’t plan to ever de risk that
I would really appreciate if someone will take some time and explain what 100% equity means? I do not understand the term and I'd like to see if this something like that is feasible in my country. Thanks a lot!
It’s means all of your investments are in shares. So it’s not a mix of shares, bonds, crypto currencies or gold. The 100% shares (also known as equities) don’t have to be you purchasing individual shares from companies. It could be index funds which invest your money across many companies’ shares. It could be hundreds or thousands of companies in different industries and maybe different countries . This is considered a way to spread your risk often referred to diversification
Basically, all of your money goes towards buying companies, as opposed to alternative investments.
Equities provide better returns with higher risks than bonds (lending money), whilst providing better returns with lower risk than commodities, crypto and real estate.
You can invest in equity wherever you live. Just sign up for Interactive Brokers (IBKR), Fidelity, or some brokerage which is available in your region. Then, either pick companies to invest in or search up "MSCI" and you can invest in large groups of companies. Since you're not very experienced, I would recommend investing into "MSCI ACWI". They invest in most companies worldwide, and are a good option for beginners.
You can look at some of MSCI's other funds once you're more experienced, but they come with higher risks of losses.
If you have two years worth of cash, you're not 100% in equities.
Wrong, he means equity vs bonds. Ca$h is different
True, but it's just a buffer separate to the investment vehicle designed to smooth out the investment performance peaks and troughs.
How do you invest the money made from downsizing a house if we’re only allowed to put £20,000 in an ISA every year?
20k into ISA, X into pension (assuming downsizing before retirement), up to 50k into Premium Bonds (lowish return but some fun and it's well protected and tax free), then a GIA, the tax-paying equivalent of a S+S ISA. You might also couple the house move with pre-pension-pot-hit retirement, so you use some as your cash buffer.
Put it directly into your pension