Getting rich

[mudskipper]

Following the RM fiasco, I've got a shade under 5k in cash sitting in a stocks and shares ISA.

I could just return it to my negligible interest savings account, but wouldn't mind giving the investment thing a go.

So what's a good idea for a beginner? Managed fund? FTSE 100 tracker? Individual shares?

Thinking a mixture - perhaps 2K FTSE 100 tracker, 1K BP shares (or Vodafone?), and the rest in a managed fund?

Haven't a clue what I'm doing - just want to make sure that the above doesn't sound really stupid...

[SimonMac]

Following the RM fiasco, I've got a shade under 5k in cash sitting in a stocks and shares ISA.

I could just return it to my negligible interest savings account, but wouldn't mind giving the investment thing a go.

So what's a good idea for a beginner? Managed fund? FTSE 100 tracker? Individual shares?

Thinking a mixture - perhaps 2K FTSE 100 tracker, 1K BP shares (or Vodafone?), and the rest in a managed fund?

Haven't a clue what I'm doing - just want to make sure that the above doesn't sound really stupid...

Pharma's and Utilities, my top 3 earners in my SIPP are GSK, SSE and NG all in excess of 4.5%, depending if you are happy to profit off the misery of others BATS or IMT as tobacco always pays well, VOD is usually a good dividend payer but everything is up in arms at the moment when it comes to the sale of its stake in Verizon Wireless which is the source of most the cash it pays out

[mudskipper]

Pharma's and Utilities, my top 3 earners in my SIPP are GSK, SSE and NG all in excess of 4.5%, depending if you are happy to profit off the misery of others BATS or IMT as tobacco always pays well, VOD is usually a good dividend payer but everything is up in arms at the moment when it comes to the sale of its stake in Verizon Wireless which is the source of most the cash it pays out

Ta - looked at GSK, so might go for that and a utility. Assuming the site lets me log in on Monday...

[SimonMac]

Ta - looked at GSK, so might go for that and a utility. Assuming the site lets me log in on Monday...

Yeah, I was pretty pissed that HL still didn't let me trade yesterday

[VectraMan]

What's wrong with the stocks and shares ISA you have now?

[SimonMac]

What's wrong with the stocks and shares ISA you have now?

She needs some stocks and shares to go it in!

[mudskipper]

What's wrong with the stocks and shares ISA you have now?

I haven't got any stocks and shares in it (apart from RM).

[scooterscot]

If you want to get rich

invest in yourself and stick to what you're good at

[SimonMac]

invest in yourself and stick to what you're good at

She's not allowed to charge for that!

[VectraMan]

I haven't got any stocks and shares in it (apart from RM).

I see. I didn't know you could do that. I have a L&G Asia Index Tracker stocks and shares ISA, and a new European managed fund one. I just signed up, you don't have to do any more. The former went up 11% in the last year, so much much better than a deposit account, and I'm kicking myself that I didn't start the European one a year ago as it's gone up about 25%.

Presumably if you're picking your own shares you're going to spend a lot more time keeping an eye on things. I've done quite well at completely ignoring mine so not to be tempted to raid it.