Post by duck on May 29, 2015 6:50:46 GMT
I posted a couple of months ago that I was (for tax reasons) running down my personal investment in RS ...... and my 'better half' had a brand new RS account!
A few 'observations' she has made to me ..... and a couple that I have observed (in no particular order)
Initially differentiating between 'Lend Money' and 'My Portfolio' led to excessive mouse clicks and 'where is it?' ...... but this was soon overcome.
The transfer of cash in via debit card is much appreciated, so simple and so quick.
Understanding the market (where to place new money/repayments) doesn't take long with a bit of thought ...... by week 2 she was saying 'why!' on seeing money being added at 0.2 - 0.5% below market rate.
Grabbing an extra 0.1% (or more) really influences your overall rate when building a portfolio (mine had stagnated since I have been investing since 2012 and the recent higher rates have been cancelled out by the dropping out of earlier higher rate loans)
The rates have been good!
The information that an 'average investor' needs/wants is readily to hand and can be found.
Payments arrive as expected - as a skeptic this surprised her!
Having downloaded payment details (I do this for all my investments) and put them into a graph allowed her to appreciate that with £50K currently invested @ £1K will be 'returned' each month ...... so whilst '5 years' sounds like you are tying up your money (never to be seen) for 5 years in reality you are not.
All points that most of 'us' know well/take for granted but it has been interesting to see a Newbie get started (her previous investments limited to ISA's and fixed term bank bonds).
So from the point of view of a Newbie I would suggest the RS system works well and is easy to pick up - so she gives it a big thumbs up.
..... and it does from me ...... and since my RS investment is still well in 6 figures (my business also has a decent amount invested) the transfer of funds will take some time so I can still enjoy my daily 5am spreadsheet updating 