The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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https://www.nasdaq.com/articles/lessons-sir-john-templeton-2017-04-07
Eg: In 1939, totally green to investing, JohnTempleton made a large $10,000 bet on 'tanked' out stocks trading on the New York Stock Exchange . The money was left to him by a relative. He bought every stock trading under $1 (104 equities). Then went off to war for the duration. When he returned after the war ended, he sold the stocks for around $40,000.
My BOU is in my ISA. Hopefully it 20 bags on relist :)
ISA self investment is by far the best. Diversify with as many tanked/bottom stocks as your money can afford and don't sell any losses unless you know there is no chance of recovery. Retirement sorted and own my own 3 bedroom town house, first owner from new bought at 72 grand, now worth 390 grand. gla
125 yr lease. We lived in it and didn’t plan on holding onto it but released equity for our now family home. If we reclaim stamp duty we’ll still end up paying it on something else anyway. It’s the leasehold nature that kicks you in the nuts long term.
In the short term it'll be sod all but in the long run if you can get it paid off its a massive plus. Is it a flat in a complex by the sounds of it? I'd avoid those at all costs if it is... freehold small home. Terrace or semi's just outside of northern cities are the ones you'd want. Obviously depends where you live etc... then there's not much issue with leasehold/freehold as the leases are 999 years and ground rent/annual fee is bugger all. Key then is a cheap letting agent or if you can go solo (more risk but more reward) then do that.
Thanks both. Jace we have a BTL but it meant a load of extra stamp duty and it’s interest only. After mortgage, ground rent, service charge and management fees it leaves sod all PLUS the market isn’t going anywhere. So tempted to sell that and get the stamp duty back which is about 5% of the value of the BTL. Wish we’d got a freehold.
I'm in the very lucky generation who had a very good final salary pension, so for me apart from paying off the mortgage my retirement is sorted (and ideally that is in about a years time - shorter if this baby comes good!). For those with longer to go, I'd agree that trying to build a savings pot is a good plan - being able to fund your own retirement means you also cater for dependants - but try to build that into the pot - I'd personally (if I was doing this now) try to aim for a pot equal to the amount you want to draw down - though less is fine as you will earn (one hopes) interest on what you have invested - but if you can manage to live on capital alone you know you are safe. DON'T forget to factor in inflation though - at which point the size of the pot needed can be frighteningly large. I get annoyed when some of my ex-work colleagues are being persuaded to cash in their final salary pot "as it's worth over a million". True, but it's not that much money if you live for 40 years after retirement! And if inflation eats away at the value.
I'll suggest an alternative. Dip into the housing market and buy to let. Use the income from that if you can afford it. Pay off a home using someone else and their contributions and then you've got a lump sum or earnings from that when you want it. Plus you can control the sale of the asset(s) then too if you want lump sums etc - wouldn't get too hung up on the pension pot issue - you are a similar age to me and because our generation will get hit hardest as the state pension ponzi scheme fizzles out and retirement ages get played with I'd rather be in control and look at alternative financing arrangements. Tax rates may be subject to change in the future too...
Some advice whilst we wait. I’m 35, very small pension from old employer maybe a few grand plus the mandatory NEST ones now. What pot should I realistically have at my age and is it worth sticking in a lump sum (subject to BOU succeeding lol) to catch up or just starting now with hundred odd quid extra a month?