Peterdev
Well-known member
- Joined
- 17 Dec 2017
- Messages
- 4,259
I agree for someone with no experience they may feel they need to pay for someone to advise them.A good financial advisor would assess all of your finances and needs.
So for instance paying off credit cards, loans and debt, overpaying your mortgage etc should probably be higher priority than punting in individual stocks and shares.
Also I see many of your choices are investment trusts, where the fund manager chooses the underlying stocks to invest in.
I come from a banking background but realise that bank deposits are the last place on earth to leave money, apart from a balance for day to day needs.
I can’t believe the interest rates charged by some of the credit card companies, s9me charging 50% but at least that’s better than they were. Mortgages are at record low rates of interest, but I’d agree it’s best to be rid of that commitment when possible.
Investment trusts I feel are a very good way forward, as they often pay nice dividends unless the investor wants growth of price. The great thing is they can be drip fed enabling purchases when the price drops with capital growth.
As is often mentioned by advisors never invest what you can’t afford to lose and aim for long term growth.