easynow
Member of DD Central
Popcorn anyone?
Posts: 178
Likes: 147
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Post by easynow on Apr 8, 2020 20:56:17 GMT
I'm assuming you only invested an amount of cash you can easily afford to lose? This being the case, why do you continue to get your knickers in a twist? It's not good for your health allowing yourself to get so wound up, and its getting pretty tedious for everyone else around here having to read it. Just because someone can easily afford to lose some money doesn't actually mean they want to lose it, surely that must be obvious? I'm sure he doesn't, but there is a clear sign above the door when you walk in to invest, and you need to acknowledge you have seen it... "Your milk might get spilt..... "
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easynow
Member of DD Central
Popcorn anyone?
Posts: 178
Likes: 147
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Post by easynow on Apr 8, 2020 20:58:34 GMT
I'm assuming you only invested an amount of cash you can easily afford to lose? This being the case, why do you continue to get your knickers in a twist? It's not good for your health allowing yourself to get so wound up, and its getting pretty tedious for everyone else around here having to read it. It all depend what you mean easily afford to lose, if it means pay the household bills food etc, probably yes. Some holidays in retirement, coving medical insurance, medical bills, future possible bills for carers, nursing home when too old to care for myself, probably not now. It's all irrelevant, no matter how much you choose to invest, if you cant afford to lose it, don't invest it, stick it in an fscs protected account instead.
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alender
Member of DD Central
Posts: 981 
Likes: 683
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Post by alender on Apr 8, 2020 21:25:41 GMT
It all depend what you mean easily afford to lose, if it means pay the household bills food etc, probably yes. Some holidays in retirement, coving medical insurance, medical bills, future possible bills for carers, nursing home when too old to care for myself, probably not now. It's all irrelevant, no matter how much you choose to invest, if you cant afford to lose it, don't invest it, stick it in an fscs protected account instead. In which case you always lose, get 1 and bit % - tax and watch inflation slowly but surly take away your life's work. Whichever way you turn you lose apart from spending it all and relying on the government to keep you.
And by the way the my plan was to move from equities to AAA bonds and FSCS protected accounts as I got older which I was doing but the government had other ideas by pushing down interest rates to well below inflation.
I was never that comfortable with P2P and it was meant to be a balance against my equities and could not find any better choices, I did consider Buy to let but I would prefer young people buy their own house than renting it from me.
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Post by Harland Kearney on Apr 8, 2020 21:38:20 GMT
It's all irrelevant, no matter how much you choose to invest, if you cant afford to lose it, don't invest it, stick it in an fscs protected account instead. In which case you always lose, get 1 and bit % - tax and watch inflation slowly but surly take away your life's work. Whichever way you turn you lose apart from spending it all and relying on the government to keep you.
And by the way the my plan was to move from equities to AAA bonds and FSCS protected accounts as I got older which I was doing but the government had other ideas by pushing down interest rates to well below inflation.
I was never that comfortable with P2P and it was meant to be a balance against my equities and could not find any better choices, I did consider Buy to let but I would prefer young people buy their own house than renting it from me.
Something I agree strongly with. The envioment for cash savers has been getting more and more punishing since 09. If you hold even 100k in cash, you could see upto 2,000 a year in inflation erosion, and thats just offical inflation. We will likely see even more of that now with the current stuff going on. I have a instant saver with coventry for 1.25% a year, I consider very good now days..... The avg rate is 0.45% including bonuses for cash savers (a report is out there, too tierd to link it, read it on the FT months ago) For most, it is fine to use instant savers all your life, most people do not want the head ache of investing so either throw money at somebody to put togather a portfilio or just never bother and rely entirely on work pension/state pension. But you only have to look at a compounding growth chart and you see quickly that wealth generation for your life does come from investing. If you only use cash savings you are always fighting strong winds. I try to only hold cash as a balance to drops in the stock market, so that I am not overweight during a crash and can top up during one (as I have). I avoided P2P as a place to store that cash entirely, I did store a chunk of that in the QAA which is now locked up ofc. Not end of days though, still got some and continue to top up weekly)
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alender
Member of DD Central
Posts: 981
Likes: 683
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Post by alender on Apr 8, 2020 22:48:11 GMT
I have a instant saver with coventry for 1.25% a year, I consider very good now days..... The avg rate is 0.45% including bonuses for cash savers (a report is out there, too tierd to link it, read it on the FT months ago) Take a look at the Goldman Sachs Marcus account, no restrictions and an 1.3% AER with FSCS protection but like all accounts I expect soon to see reduction in rates.
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Post by Harland Kearney on Apr 8, 2020 22:58:36 GMT
I have a instant saver with coventry for 1.25% a year, I consider very good now days..... The avg rate is 0.45% including bonuses for cash savers (a report is out there, too tierd to link it, read it on the FT months ago) Take a look at the Goldman Sachs Marcus account, no restrictions and an 1.3% AER with FSCS protection but like all accounts I expect soon to see reduction in rates.
Thanks for the tip I'll have a look, rarely get time to look into the latest *rates* now days 
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