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  1. #21
    pr1
    pr1 is offline

    Fingers like lightning


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    Quote Originally Posted by lukemg View Post
    Ok - I understand the outrage, huge vested interests and marketing budgets are directed at making you pay for active management and thanking them for the privilege, it's genius in a way..

    BUT there IS a very simple solution to what you should do...

    1. You save as much as possible, use ISA's (great tax benefits, instant access)and SIPP's (good way to get money out of company, tax benefits too)
    2. Use an online broker (HL, III - see monevator.com for best choice for you, depends on amount you have)
    3. Invest in globally diversified Index funds/ETF's.(see monevator.com for why). Consider using Vanguard Lifestrategy 80 as a one stop solution (global, 80%equity, 20% bonds, low cost, massive company)
    4. NO MATTER WHAT THE MARKET DOES/WHAT THEY SAY ON THE NEWS YOU NEVER SELL AND NEVER STOP MAKING THE MONTHLY INVESTMENTS.
    5. Stick enough in, let compounding/time do the heavy lifting and you retire a millionaire.


    GLA
    but remember not to die before you can spend/enjoy your money

  2. #22

    Still gathering requirements...


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    Great advice everyone. Thanks.

    I am going to open account with II.

  3. #23

    Contractor Among Contractors


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    Quote Originally Posted by pr1 View Post
    but remember not to die before you can spend/enjoy your money
    Yep - balance is needed, remember not to p**s it all away on s**t you don't need to impress people you don't care about, followed by either:
    - Having to work way past when you can't stand it and becoming known as the miserable old t**t.
    - Hit the career earnings decline/lack of opportunities with k'all to show for 20 years on the tools, that won't be a picnic either as you hit retirement.

    By all means, buy experiences/travel and smell the roses on the way but for your own sake stash a bit too....

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