wizard1
New Member
Posts: 3 
Likes: 2
|
Post by wizard1 on Jan 20, 2021 9:05:17 GMT
I understand interest compounding , have a stock and share isa and do just that every quarter I want to diversify and looking at kuflink They obviously have a very compelling article but don't seem to explain the details of the compounding / rolling interest when subbing to their deals www.kuflink.com/blog/if-isa-beginners-guide-to-earning-1m-interest-tax-freeSO my question is: - If I put X amount every year in a 5 year plan, and do so for 25 years, is all the money being reinvested in each new 5 year plan? - Will i then be able to cash out on year 30, when the last 5 year plan finishes? kuflink |
|
sussexlender
Member of DD Central
Cheat seeking missile
Posts: 550
Likes: 916
|
Post by sussexlender on Jan 21, 2021 13:49:37 GMT
Spot on keystone !
I do think that Kuflink are an honest and trustworthy platform with good information.
I have been able to buy / sell loans with ease and their 12 month auto investment plans have always been repaid on the day in full.
SXLR
|
|
rocky1
Member of DD Central
Posts: 1,120
Likes: 1,940
|
Post by rocky1 on Jan 22, 2021 12:30:26 GMT
I have stayed with S&S isa for well over 20 years.i could not bring myself to put funds into any p2p platforms IFISA for years at a time it will not take to many defaults to wipe out any compound interest and probably a chunk of your capital. fintech firms talk the talk but very few will deliver in the long term. whatever you feel comfortable with I suppose as for me now I do not trust any p2p platform to have my best interest at the top of their list when loans default and the vultures move in.
|
|
|
|
Post by Ace on Jan 22, 2021 12:45:04 GMT
Come on guys, there are plenty of honest and trustworthy P2P platforms. Sure, there are also plenty of dodgy ones, the key is to work out which is which. For what is worth, I'd count both platforms the OP mentioned in the former category.
I'd agree that none of them have our interests at the very top of their priorities. They're businesses, so, like all businesses, their top priory is the business. However, the decent ones obviously realise that doing well for their customers is essential for the success of the business.
I've been very happy to take advantage of using IFISAs, not just because it's saved me paying tax, but also because it makes completing my tax return much simpler.
|
|
rocky1
Member of DD Central
Posts: 1,120
Likes: 1,940
|
Post by rocky1 on Feb 26, 2021 19:17:00 GMT
all kuflink group 2019 accounts now on companies house.quite a bit going on in the background and a fair loss reported.
|
|
