RE: How Are People Buying?11 Nov 2020 16:13
Baby. What’s it like everyone calling you Baby? Good for the ego I imagine.
I have used £4K of my ISA allowance this year. Mainly because during lockdown I wasn’t commuting or paying for childcare or weekends out or coffee etc. I have been able to build up that £4K to just under £8k since March.
But I’m 40. If I keep doing well and with an insane amount of luck, by the time I’m 60 I might be throwing £10k into a share.
My plan going forward is to use my ISA as a savings account. And invest every penny into S+P 500 as a bank account is useless.
Get rid of the mortgage faster, buy more shares. It’s a virtuous circle. Start moving your pension into dividend paying companies and set those divis to buy more shares.
Then if you spot the next GGP (I don’t think there will be another GGP for a while).
EUA is an example of this. I have 9700 shares in EUA that cost me about £2k. If that company sells for £1 per share, I’ll have that £10k for a £2k investment. Equally, it could fall through and I lose the lot. AIM is a casino.
That’s why research is so important.