[Shrek]

I understand compound interest substantially grows your savings over a long period of time but who do you trust with your money?most banks don't offer compound interest.

Who do you take advice from?a bunch of window cleaners?or financial advisors?(I don't trust them!)

Neither mate. Do it yourself and research where to invest. Vanguard and trading accounts etc. you have control of your money, but you need to do your own research.

That 250k would turn into 500k in 10 years, and then interest in that would mean you would gain on average 50k per year purely from interest.

So 50k a year without ever touching the big pot.

Sounds wonderful, if it was  that reliable and easy, the whole world would be doing it at those sort of returns but their not, because it can go tits up just as easily. Like I said earlier, a family member lost 100k very quickly, it was a very stressful experience for them as you can imagine, especially as both retired  so no working income coming in. Things have come back for them but it's an eye opener.

I’m guessing your family member withdrew his investment straight after the pandemic slump? Very silly. The markets bounced right back within weeks to record levels.

We’re talking here about investing over many years, trying to make a quick buck is not a good idea at all.

Look at the S&P lifetime chart and if you would have invested for a 10 year minimum period you would never have lost money.

I believe they didn't withdraw, and whilst I don't know their present situation as of today, they had recouped alot of their losses but it took months not weeks.
Looking at historical performances of these things over the last 10 years does nothing to lessen the risk going forward over the next 10 years. It's a gamble.

So they haven’t lost 100k then 

Sounds like your talking about something you’ve no personal experience in and it’s just what you’ve been told

[NBwcs]

I understand compound interest substantially grows your savings over a long period of time but who do you trust with your money?most banks don't offer compound interest.

Who do you take advice from?a bunch of window cleaners?or financial advisors?(I don't trust them!)

Neither mate. Do it yourself and research where to invest. Vanguard and trading accounts etc. you have control of your money, but you need to do your own research.

That 250k would turn into 500k in 10 years, and then interest in that would mean you would gain on average 50k per year purely from interest.

So 50k a year without ever touching the big pot.

Sounds wonderful, if it was  that reliable and easy, the whole world would be doing it at those sort of returns but their not, because it can go tits up just as easily. Like I said earlier, a family member lost 100k very quickly, it was a very stressful experience for them as you can imagine, especially as both retired  so no working income coming in. Things have come back for them but it's an eye opener.

I’m guessing your family member withdrew his investment straight after the pandemic slump? Very silly. The markets bounced right back within weeks to record levels.

We’re talking here about investing over many years, trying to make a quick buck is not a good idea at all.

Look at the S&P lifetime chart and if you would have invested for a 10 year minimum period you would never have lost money.

I believe they didn't withdraw, and whilst I don't know their present situation as of today, they had recouped alot of their losses but it took months not weeks.
Looking at historical performances of these things over the last 10 years does nothing to lessen the risk going forward over the next 10 years. It's a gamble.

So they haven’t lost 100k then 

Sounds like your talking about something you’ve no personal experience in and it’s just what you’ve been told

At the point in time when 100k was wiped off their stocks and shares, then yes they did lose 100k and the total emotional nightmare that went with it. The fact that it would recover somewhat has no guarentees and wasn't a foregone conclusion. And no it wasn't my 100k so wasn't my personal experience but makes no difference to the senerio at all. 

[NWH]

An emotional experience what risking money on the stock market or whatever investment come to think of it lol,that’s the stock market you are risking for reward or gambling to an extent you can’t start crying when it goes wrong I’m not being funny but if it was as simple as that everyone would be doing it and winning.

[Splash & dash]

This forum does  make me laugh  window cleaners that all of a sudden are financial advisers talking about large sums of money increasing xxx amount in xx number of years , why are you cleaning windows if you are all so smart ?? Why aren't you all investing your £500+ days money into theses schemes??  😂😂😂

[AuRavelling79]

This forum does  make me laugh  window cleaners that all of a sudden are financial advisers talking about large sums of money increasing xxx amount in xx number of years , why are you cleaning windows if you are all so smart ?? Why aren't you all investing your £500+ days money into theses schemes??  😂😂😂

Some of us are.

[dazmond]

It's so easy to get ripped off and lose your hard earned money in this day and age....be careful!

[NWH]

I don’t know many people that want to fly half way round the world and need a lot of money when they are 65-70,I think Daz has the right attitude tbh.

[dd]

You do not have to be an investment expert, that is why a lot of people use tracker funds - low charges and do not rely on an investment manager. 

You can hold ISA or pension with a well known platform provider such as Hargreaves Lansdown and the only person who can access it is you.

[Splash & dash]

This forum does  make me laugh  window cleaners that all of a sudden are financial advisers talking about large sums of money increasing xxx amount in xx number of years , why are you cleaning windows if you are all so smart ?? Why aren't you all investing your £500+ days money into theses schemes??  😂😂😂

Some of us are.

Lol why bother with windows if you can get what ones are claiming from theses investments? It’s high risk you might make good money and re invest it and then loose the lot that’s what happens to most that dabble in this type of thing .

[dd]

This forum does  make me laugh  window cleaners that all of a sudden are financial advisers talking about large sums of money increasing xxx amount in xx number of years , why are you cleaning windows if you are all so smart ?? Why aren't you all investing your £500+ days money into theses schemes??  😂😂😂

Some of us are.

Lol why bother with windows if you can get what ones are claiming from theses investments? It’s high risk you might make good money and re invest it and then loose the lot that’s what happens to most that dabble in this type of thing .

It is not high risk if for example you invest in a Vanguard fund or etf (VWRL) that tracks the worldwide market index. What is high risk is keeping cash for the last 10 years plus, because when inflation is factored you lose money. The only real risk is if you want to hold an investment short term.

If the worldwide market fails, economically we are all fu££ed anyway

[NWH]

10 years this 10 years that lol live you’re life while you can I’ve heard so many stories from OAPs m8,my cat eats more and does more travelling do all the things you want before you retire not when you’re fit for nothing with loads of saved cash lol.

[DJW]

I’m guessing you’re another one with no kids then?

[G Griffin]

I'm made for life, financially.
But I have to die before next weekend.
This heatwave might be a good thing; I could be dead and cremated in two days.

Anyway, what time does New York open?

[Dazzler3370]

If I could give you any advice would be, if you have a mortgage over pay it paid off as early as you can. I am over paying mine and I have honestly halved the term of my mortgage. Also another good reason to do this is because I believe that interest rates will keep on rising for the new few years to try and curb inflation.

Hope this little bit of advice is of some help.

Dazzler

[Splash & dash]

This forum does  make me laugh  window cleaners that all of a sudden are financial advisers talking about large sums of money increasing xxx amount in xx number of years , why are you cleaning windows if you are all so smart ?? Why aren't you all investing your £500+ days money into theses schemes??  😂😂😂

Some of us are.

Lol why bother with windows if you can get what ones are claiming from theses investments? It’s high risk you might make good money and re invest it and then loose the lot that’s what happens to most that dabble in this type of thing .

It is not high risk if for example you invest in a Vanguard fund or etf (VWRL) that tracks the worldwide market index. What is high risk is keeping cash for the last 10 years plus, because when inflation is factored you lose money. The only real risk is if you want to hold an investment short term.

If the worldwide market fails, economically we are all fu££ed anyway

I still feel buying property is the way ahead especially long term ,as an example I bought a small bungalow for 26k  30 years ago it’s now worth over 300k ,that’s what I invest my spare money in .

[AuRavelling79]

This forum does  make me laugh  window cleaners that all of a sudden are financial advisers talking about large sums of money increasing xxx amount in xx number of years , why are you cleaning windows if you are all so smart ?? Why aren't you all investing your £500+ days money into theses schemes??  😂😂😂

Some of us are.

Lol why bother with windows if you can get what ones are claiming from theses investments? It’s high risk you might make good money and re invest it and then loose the lot that’s what happens to most that dabble in this type of thing .

It is not high risk if for example you invest in a Vanguard fund or etf (VWRL) that tracks the worldwide market index. What is high risk is keeping cash for the last 10 years plus, because when inflation is factored you lose money. The only real risk is if you want to hold an investment short term.

If the worldwide market fails, economically we are all fu££ed anyway

I still feel buying property is the way ahead especially long term ,as an example I bought a small bungalow for 26k  30 years ago it’s now worth over 300k ,that’s what I invest my spare money in .

You can have a tracker fund and a property or two. They aren't mutually exclusive.

[Splash & dash]

This forum does  make me laugh  window cleaners that all of a sudden are financial advisers talking about large sums of money increasing xxx amount in xx number of years , why are you cleaning windows if you are all so smart ?? Why aren't you all investing your £500+ days money into theses schemes??  😂😂😂

Some of us are.

Lol why bother with windows if you can get what ones are claiming from theses investments? It’s high risk you might make good money and re invest it and then loose the lot that’s what happens to most that dabble in this type of thing .

It is not high risk if for example you invest in a Vanguard fund or etf (VWRL) that tracks the worldwide market index. What is high risk is keeping cash for the last 10 years plus, because when inflation is factored you lose money. The only real risk is if you want to hold an investment short term.

If the worldwide market fails, economically we are all fu££ed anyway

I still feel buying property is the way ahead especially long term ,as an example I bought a small bungalow for 26k  30 years ago it’s now worth over 300k ,that’s what I invest my spare money in .

You can have a tracker fund and a property or two. They aren't mutually exclusive.

Personally feel property is a much safer higher return long term , each to their own but that’s my take on it ,

[AuRavelling79]

Well I know of a pension pot linked to blue chip shares with Standard Life that was at £11,500 in 1996, had nothing added to it and which is standing at £102,000. Not a bad return.

[NWH]

I’m guessing you’re another one with no kids then?

Lol remember to do all you can to work you’re fingers to the absolute bone for you’re kids yeah so you can leave it all to them,in 2 generations time you’ll be lucky if anyone remembers you until they get the photos out 😂.

[G Griffin]

I’m guessing you’re another one with no kids then?

Lol remember to do all you can to work you’re fingers to the absolute bone for you’re kids yeah so you can leave it all to them,in 2 generations time you’ll be lucky if anyone remembers you until they get the photos out 😂.

But it's better having someone to forget you than no one to remember you.
Hey, that's quite good that.
I might see if Hallmark want to buy it.
That's my pension fund sorted.