i've seen nearly all of your videos and they are SO insightful and simple to understand ! so glad I came across your account & I can't wait to be a part of FIRE :)
Fair play your explanation really helped me understand stocks and shares ISA’s. Never really thought I could have ago, but your video gave me confidence to try. We need more like this to enable the average person to try, as opposed to just thinking “I cannot do it”. I wish this sort of stuff was taught in school, would benefit anyone trying to achieve their financial goals. I joined Vanguard (FTSE 100 and S&P 500) so any videos on this would be welcome - thank you and keep up the good work 👏👏👏👏
Thanks really appreciate it! That's exactly why I started this channel :) be worth checking out my 0 - 100k series I have both of those in there :) I'll have another one coming soon!
Great vid explaining everything with some nice and realistic numbers. I'm 31 too and only just got into investing (so I'm a little late) but managed to max out my ISA allowance for the 2020/21 year just before the deadline. Seeing where you'll be in those years ahead is really great to hear and encouraging that I'm not that far behind! Subscribed!
Thanks JK! You can do it man for sure 👊 just about consistency. I’m mostly at this point because of not having a pension and being so aware of it 😂 awesome to see you’re on the right track now!
I’m the same Chris. Although I’m 53. I contribute 25k into a sipp for the tax relief. I’m 40% tax payer. I’m putting about 10k a year in a isa. Will draw off my isa first at retirement then my pension last. I have property as well. I started late but on track for 1 million at 65.
Brilliant video Chris, I guess I'm in that position where I want to invest my savings but am a bit hesitant so this was really encouraging!! Plus I really liked your openness as it felt very relatable.
@@chrispalmer24 Here's hoping ;) On a separate point, I had not found another TH-camr who used HL... until now. Considering they have over a million customers, the customers are actually hard to find!
Thank you Chris 😊 Very easy to understand 👍 Which one do you recommend for Stock and Share ISA?? I am such a new customer to this 🤦♀️🤦♀️ I am a full time NHS Nurse and think about retirement yearly. Thank you 😊
Wonderful content - I've gladly subscribed to your channel and liked the videos. And in addition you seem a humble, down to earth guy, who has cut out all the clown stuff you see on most of the so called 'gurus' channels.
ISAs are great and very simple if new to investing, but it's not always the best option and from your circumstances I think you might be better with a SIPP or at least a combination of tax wrappers. The LISA would give you £1k government bonus if you contribute £4k each year that can be accessed tax-free from age 60, you can get a Stocks & Shares LISA so there's no real disadvantage of doing this. A SIPP is also likely to be more useful to most people to grow wealth due to compounded returns on gross contributions. If you are a basic rate taxpayer in retirement then money in/money out would be as below Money in example £80 contribution, grossed up to £100 (can claim another £20 tax relief if higher rate taxpayer) Money out - excluding growth £25 tax free (25%) £75 gross = £60 net assuming all income is taxed at basic rate £85 = total net withdrawal So you already 6.25% better off if you had invested in the SIPP and this would be even greater if you are higher rate now and basic or non tax payer in retirement. If you plan to retire before your state pension kicks in then you will also likely have a tax free personal allowance which is currently £12,570. So drawing a taxable income up to this point will essentially be tax.
Mutual fund or ETF? Great videos mate, I’ve been using them to plan what I’m going to do. I’m 29 and only just discovered an stocks and shares ISA. It’s crazy they don’t teach this stuff at school.
Thanks Will so great to hear! I wish I'd have started mine earlier 😅 Mutual Funds tend to have higher fees, I've generally used ETFs on the whole. It's definitely on my list to go over the top ones I'd recommend
@@chrispalmer24 No worries. I’ve bought into the Legal and General US Index fund which has a fee of 0.06% annually on my HL account. I think this is a good fee rate?
Thanks for this it s really helpful advice. I know it’s a stupid question but here it goes: I got some money aside and I am very interested to make it grow somehow. However, the reality is that I am scared of losing what I managed to save - how long term am I looking to lock the money in for in order to see some potential financial growth in case shit starts to hit the fan (aka another Liz truss becoming PM of the UK in a few months’ time and fucking up the economy for instance). Stupid examples, am aware; i don’t claim I am financially educated but I wanna learn because this is a huge fault of the education system so I gotta take matters into my own hands! Thanks
Hi Andreea! Your best bet is definitely to go for a World fund, splits your risk over 3,500+ companies, like VEVE or VWRL (InvestEngine is easiest and cheapest, can check my review). In terms of timeline, the longer the better, I always say 3-5+ years, any shorter I'd look at cash :)
you're giving mixed messages about the lifetime ISA, you made another video saying everyone should get one regardless of their situation, and now saying it's not with it for long-term
Thanks for pointing that out - I'd say this video is probably pretty out of date - over 2 years old, but still covers some of the basics. I am using a Lifetime ISA :)
Thanks! I actually think Vanguard isn't very good at all. I'm surprised so many people promote on YT. You can only buy Vanguard Funds within there. I think T212 May be closed to new accounts at the moment still. Freetrade, is similar I'm in the process of moving there. You can always buy Vanguard Funds from Freetrade or T212, and it also gives you the flexibility of buying individual shares/other companies. I wouldn't be able to have my current portfolio in Vanguard as I hold 5 individual companies 😅 Freetrade and 212 give a free share when you sign up at the moment (posted some links in description, may be useful!)
Why would you say that about vanguard? I’ve got a HL trading account and am only starting my ISA investments. I was looking at their lifetime strategy funds as opposed to ETF funds. Just because I no longer want to make my own trades. Are you advocating execute only ETF ISA ? Like the videos
@@DMelectricalAssessor Basically if you have a Vanguard account, you can buy Vanguard Funds/ETFs only. So for example last year I bought Avivia (AV) +52% at the moment on it, I couldn't have bought that with Vanguard. It'd have to be part of a fund they offer. So I don't really get the appeal in limiting yourself, I thins it's OK for beginners, but seems a bad place to start. You can just buy the Vanguard ETF within Freetrade or T212 - or HL but I'm moving away at the moment. You also then get a choice of it's of ETF's, I've got a Russian one that's doing well at the moment :)
Hey Danny, I haven't managed to get this fully sorted yet - but hopefully will soon. To be honest It's likely something I'll give as a benefit for the patreon members as an added perk. If I make a website which I'm planning on I may put it on there too publicly :)
Hi Chris, your videos are so helpful and relatable! I understand you prefer to invest in a Vanguard ETF (via Freetrade and not the Vanguard platform) that tracks the FTS100 as opposed to the S&P500? May I ask if there are more reasons than the higher return?
Hey Laura! Thanks really appreciate it. I use Freetrade to avoid the extra fees you pay via Vanguard. I have both - S&P for the USA and FTSE for the UK - good to have a mix of both I think. USA does seem pretty high to me at the moment to be honest.
Great video Chris - I started a Stocks and Shares ISA early this year and it's crazy to see how much money it can make compared to standard savings accounts, even in such little time! Unfortunately I don't have the capacity to save the full £20K each year on my current salary (even with a very aggressive saving strategy) but I'm hoping to be able to in the near future. On that note, I wanted to ask: what would you say is the minimum salary required to save the full £20K each year? And what proportion of take-home income (regardless of salary) do you feel should be saved? It'd also be interesting to know what proportion of your own take-home you put aside for savings, if you're comfortable sharing it. Thanks, and keep up the great content!
I wouldn't confine myself to tracker funds. I get circulars from various discount brokers who give recommendations on active funds based on their assessments of them which I read carefully and then take decisions in conjunction with my own assessments . I've done much better over the last 26 years than I would have done if I'd confined myself to tracker funds.
@@chrispalmer24 Some of them are; Hargreaves Lansdown, Financial Discounts Direct, Individual Savings accounts Ltd.(formally the PEP shop) and BestInvest.
🔗Get access to my buy & sells as well as more frequent portfolio updates (+ support the channel) - www.patreon.com/chrispalmer24 - 50% off until the end of December
Nice video Chris, I’ve started a investment Isa of with plum, in tech giants, any thoughts of this, I put in 20k this year and will keep it up per year, also 11k in penfold in shariah that’s grown 18% this year, can’t wait for 6 figures the daily growth/loss will be scary but fun 😂😂
Hi, I really enjoy all your videos, so simple to understand and informative. Does the Isa account pay you dividends as well, since you invest in s&p500? And it makes sense to invest in an Isa for just 4 years (use the gains to travel the world) or it is better to save in a high yield saving account for such a short term goal?
Yep it does pay me dividends :) really tricky - savings account if you really need the cash, stocks you really need to be willing to play the long game, especially at the moment.
Lovely video. Insightful as well. I'm looking to buy individual shares of companies. I didn't quite understand the part you talked about gaining £10k tax free on shares. Were you saying that gains on shares are tax free? Is there a limit? Do you have a video I can watch please. I'll love to. Thank you.
Thanks Erastus. Yeah I'm talking about the Capital Gains Tax. So each year you can earn X through stocks tax free which is great. Ideally I'd love to use that money to fund my ISA at some point in the future - OR I may use a SIPP (more likely - I'll do a comparison video on these soon).
Hi Chris, great video - very informative! I have a quick question regarding your plan to see if I’ve understood it correctly. Is your plan to reach 1m in your stocks and shares Isa so that you can then take out the interest every year to live off rather than taking out the 1m capital? Have I understood correctly?
That's the plan! May have to take some capital out some years, but if I could live off it it'd be amazing, Imagine 5% (50k tax free) in a year! Although realistically I may have some in a SIPP so it may be a mix - either way would be a super nice target.
Chris if I have my own company could I take the 20k out of that and put it in my invest engine ISA? Or will I need to put it in my bank first, after paying tax and then put in please? Love the videos
Thanks Michael! You need to take it out and pay tax first sadly. You could explore they have an option to open a business investment account but I’ve not done that yet. Also worth considering a SIPP. Personally I take mine out pay tax and then put it in the ISA to benefit from the compounding 🙂
good vid mate, subbed! are you ltd company status? I'm similar, a 1 man company / contractor and make full use of my pension allowances by investing in a SIPP (HL but may use Freetrade also) a nice perk is getting my company to make the contributions to my SIPP and can then avoid corp tax! but yes this money may be taxable later in life!
Thanks Simon, I am! How have you found the SIPP? I'm thinking about it, I just like the flexibility I guess of being able to have that access, I am considering a SIPP for future investments though, it's so tricky to decide which way to go. Really appreciate the comment!
Hi Chris, possibly a stupid question mate but here it goes - if i max out my £20k allowance into my S&S ISA do i have to wait till the following tax year before putting more money into the account?
I use moneybox and have a LISA as well as a PIP as I'm self employed and a stocks and shares ISA. Would you recommend putting more into my stocks and shares ISA than the other 2 as at the moment I'm splitting my money 1/3 into each of them
Hey James! Completely depends on your goals. I’d fill the lifetime isa first if it’s for pension? It’s a no brainier instant 25%. SIPP vs ISA is a big debate. I don’t have a SIPP and I’m self employed I use the ISA. It becomes more efficient if your lucky enough to be in the higher tax bracket
Hey, I seem to find the answer to my question anywhere. The stock and shares ISA tax allowance is 20k. My question is , is it worth getting a stock and shares ISA if I wouldn't be able to put in 20k a year? I know the tax allowance doesn't carry over so what does that mean for the money less than 20k in my isa account?
Hey! Yeah it would, the more you can put in the better. Don’t have to fill it. Also take a look at the lifetime isa which may suit you better depending on circumstances, I’ve done a video on that one too.
@@chrispalmer24 I do like the idea of a lifetime isa Because of the extra 25% you can get from the government. However, I won't has access until retirement. Is it possible to have a Lifetime S&S isa and normal S&S isa?
£1 million pounds in 20 years will be less than half what it is worth in today's money in England due to the obvious. I became a multi-millionaire in a space of 7 years. I do not invest in isas, etfs, stocks and shares or any of the traditional things the financial experts recommend. I retired at 50 after a full year of travel and then embarked on putting my money in the right things. I am not a financial expert, but I still have a 7 figure annual income and that is increasing enormously annually and I do not work!
Hey man, discovered your videos through searching on ISA's as I have not had alot of success, I have an ISA through my bank atm. What are the benefits of going through an ISA account like Trading 212 vs going through a Bank like HSBC ?
Hey Nev, an ETF tracks generally the Index of a market, so a FTSE tracker for example. or S&P500 - General market in the US or UK. I'll do a video on the best beginner ETFs shortly! It's on my list
Hi, Would you look to split your ISA balance across numerous providers, in order to be fully protected under FCA etc? Have 1 million sat with one provider could be risky if that company were to go bust? Or am I missing something? Thanks
Hey Jake, The 85k is only on cash held on account, the actual shares are in a 3rd party that is protected, so I'll likely not keep more than 85k invested in one. Also I can only have the one ISA (unfortunately - or I would). Mine will likely be split across a SIPP and an ISA by the time I get there - unless they increase the ISA limits - they've actually been lower in the past to get more tax in (hoping they don't do that!)
Hi Chris, Would you say there is a minimum amount of money to invest in each month/ year? Also if investing smaller amounts would you recommend investing in 1 etf or spreading them over 3 etfs for example? Thanks
Hey Ciaran, Not at all! Anything you can save will be really helpful. I'd likely stick with one and keep putting in to it on a monthly basis. It just depends on what fees your paying. Can split if it's cheap enough
Can somebody just confirm. I can invest the maximum of 20k into an isa,,,any profits I can take out completely tax free. So if I wanted to take 60k out of a 80k isa,,I will have completely no tax to pay inland revenue. Thankyou
Hy Chris how can i verify that the investing platform i downloaded is the correct 1? I have heard of scammers creating apps with similar names to real companies
Hi , I have been paying into a stocks and shares isa this tax year , can I do a transfer to another broker in the same tax year and close the current one and then start funding the new one, or do I need to wait until April to do a transfer now. I have just tried to do a transfer with interactive brokers and got the message " you can only contribute to one stocks and shares ISA per tax year" and I can't seem to get clarification on the rules online.Thanks.
Despite all the economic crisis,this is still good time to start up an investment. I invested in both stocks and crypto but currently I believe crypto is doing much better
Hey Levi, I’ve got a video on a beginners crypto portfolio which may help you I’ve got around $1000 in right now I’ll do another update soon. Crypto is good but it is risky just depends on how much you’re willing to lose. The market on the whole is high at the moment so best to buy small amounts regularly to be safer. Crypto is currently about 0.5% of my portfolio slowly increasing it 🙂
![ประสบการณ์ จ้าง Developer ที่ผมจะไม่มีวันลืม [ภาค1]](http://i.ytimg.com/vi/bzivN4KDg-k/mqdefault.jpg)
⭐ My favourite 2 Investing Apps (Bonus Links): InvestEngine - bit.ly/3sj7bqk (£25 Free Bonus) and Lightyear - bit.ly/34fQUKA ($10 Free Bonus)
Hi Chris
i've seen nearly all of your videos and they are SO insightful and simple to understand ! so glad I came across your account & I can't wait to be a part of FIRE :)
Wow thanks Niyati that’s so cool to hear! You’ll be there in no time I’m sure 🔥
Fair play your explanation really helped me understand stocks and shares ISA’s. Never really thought I could have ago, but your video gave me confidence to try. We need more like this to enable the average person to try, as opposed to just thinking “I cannot do it”. I wish this sort of stuff was taught in school, would benefit anyone trying to achieve their financial goals. I joined Vanguard (FTSE 100 and S&P 500) so any videos on this would be welcome - thank you and keep up the good work 👏👏👏👏
Thanks really appreciate it! That's exactly why I started this channel :) be worth checking out my 0 - 100k series I have both of those in there :) I'll have another one coming soon!
You are amazing - thank you for your insight
Great vid explaining everything with some nice and realistic numbers. I'm 31 too and only just got into investing (so I'm a little late) but managed to max out my ISA allowance for the 2020/21 year just before the deadline. Seeing where you'll be in those years ahead is really great to hear and encouraging that I'm not that far behind! Subscribed!
Thanks JK! You can do it man for sure 👊 just about consistency. I’m mostly at this point because of not having a pension and being so aware of it 😂 awesome to see you’re on the right track now!
Thank you so much for sharing. I was just thinking about a financial goal but wondered how to action it🎉
I’m the same Chris. Although I’m 53. I contribute 25k into a sipp for the tax relief. I’m 40% tax payer.
I’m putting about 10k a year in a isa. Will draw off my isa first at retirement then my pension last. I have property as well. I started late but on track for 1 million at 65.
Awesome video mate!! Looking forward to you hitting that £1m
This is my WhatsApp alphabetical order
Awesome. Looking forward to the rest of the series!
Okay
im 19 and just beginning to understand slowly how this all works, thanks for taking the time and effort to create helpful videos like this Chris!
What a perfect age to be finding out about ISAs. Good luck to you!
Brilliant video Chris, I guess I'm in that position where I want to invest my savings but am a bit hesitant so this was really encouraging!! Plus I really liked your openness as it felt very relatable.
What a brilliant video! Will continue watching this on repeat, true powers of an ISA!
Thanks 🙏
Love your videos and your transparency thank you 🙏 really useful, you’ve really helped me start my investing journey 🙌
Great to hear! Makes my day :)
Really clearly presented information. Your million pound portfolio challenge is on a much faster timeline than mine!
Possibly JCL! When you hit TH-cam fame you may get there much faster than me ;)
@@chrispalmer24 Here's hoping ;)
On a separate point, I had not found another TH-camr who used HL... until now. Considering they have over a million customers, the customers are actually hard to find!
As I've checked for most stocks trading platforms they are protected for up to £85,000 you planning to stay protected
Thank you Chris 😊 Very easy to understand 👍 Which one do you recommend for Stock and Share ISA?? I am such a new customer to this 🤦♀️🤦♀️ I am a full time NHS Nurse and think about retirement yearly. Thank you 😊
Wonderful content - I've gladly subscribed to your channel and liked the videos. And in addition you seem a humble, down to earth guy, who has cut out all the clown stuff you see on most of the so called 'gurus' channels.
ISAs are great and very simple if new to investing, but it's not always the best option and from your circumstances I think you might be better with a SIPP or at least a combination of tax wrappers.
The LISA would give you £1k government bonus if you contribute £4k each year that can be accessed tax-free from age 60, you can get a Stocks & Shares LISA so there's no real disadvantage of doing this.
A SIPP is also likely to be more useful to most people to grow wealth due to compounded returns on gross contributions.
If you are a basic rate taxpayer in retirement then money in/money out would be as below
Money in example
£80 contribution, grossed up to £100 (can claim another £20 tax relief if higher rate taxpayer)
Money out - excluding growth
£25 tax free (25%)
£75 gross = £60 net assuming all income is taxed at basic rate
£85 = total net withdrawal
So you already 6.25% better off if you had invested in the SIPP and this would be even greater if you are higher rate now and basic or non tax payer in retirement.
If you plan to retire before your state pension kicks in then you will also likely have a tax free personal allowance which is currently £12,570. So drawing a taxable income up to this point will essentially be tax.
Mutual fund or ETF? Great videos mate, I’ve been using them to plan what I’m going to do. I’m 29 and only just discovered an stocks and shares ISA. It’s crazy they don’t teach this stuff at school.
Thanks Will so great to hear! I wish I'd have started mine earlier 😅 Mutual Funds tend to have higher fees, I've generally used ETFs on the whole. It's definitely on my list to go over the top ones I'd recommend
@@chrispalmer24 No worries. I’ve bought into the Legal and General US Index fund which has a fee of 0.06% annually on my HL account. I think this is a good fee rate?
@@willwood6214 that seems a nice low fee to be honest! Some are much higher
Great video Chris, very professional and solid information, thanks! Shaun
Thanks Shaun really appreciate it!
Video starts at 6:50
What platform do you use? Thanks
InvestEngine is my main one right now, bit.ly/3sj7bqk this link will get you a up to £50 sign up bonus when you join if you decide to
How you planning to do this when your profolio is only protected for upto 85k in uk if you checked...
Hey! That's only on your cash held on account, all other investments are held separately.
Good video, really looking forward to your portfolio and investment strategy video!
Thanks! Will be doing monthly updates 🙂
hey -with the tax on capital gains allowance - is that only if you sell? If what you hold increases but you hold it, how is that handled year on year?
20k per year is out of reach to the majority of people in uk
Completely agree, I save quite aggressively, also because I don't have a pension, that's why I mention to scale it to what your own goal is :)
Thanks for this it s really helpful advice. I know it’s a stupid question but here it goes: I got some money aside and I am very interested to make it grow somehow. However, the reality is that I am scared of losing what I managed to save - how long term am I looking to lock the money in for in order to see some potential financial growth in case shit starts to hit the fan (aka another Liz truss becoming PM of the UK in a few months’ time and fucking up the economy for instance). Stupid examples, am aware; i don’t claim I am financially educated but I wanna learn because this is a huge fault of the education system so I gotta take matters into my own hands! Thanks
Hi Andreea! Your best bet is definitely to go for a World fund, splits your risk over 3,500+ companies, like VEVE or VWRL (InvestEngine is easiest and cheapest, can check my review).
In terms of timeline, the longer the better, I always say 3-5+ years, any shorter I'd look at cash :)
Get a Free share worth up to £200 with the Freetrade ISA - magic.freetrade.io/join/christopher/ebaceb61
you're giving mixed messages about the lifetime ISA, you made another video saying everyone should get one regardless of their situation, and now saying it's not with it for long-term
Thanks for pointing that out - I'd say this video is probably pretty out of date - over 2 years old, but still covers some of the basics. I am using a Lifetime ISA :)
Great video mate. Do you think trading 212 is better than vanguard for ISAs?
Thanks! I actually think Vanguard isn't very good at all. I'm surprised so many people promote on YT. You can only buy Vanguard Funds within there. I think T212 May be closed to new accounts at the moment still. Freetrade, is similar I'm in the process of moving there. You can always buy Vanguard Funds from Freetrade or T212, and it also gives you the flexibility of buying individual shares/other companies. I wouldn't be able to have my current portfolio in Vanguard as I hold 5 individual companies 😅 Freetrade and 212 give a free share when you sign up at the moment (posted some links in description, may be useful!)
Why would you say that about vanguard? I’ve got a HL trading account and am only starting my ISA investments. I was looking at their lifetime strategy funds as opposed to ETF funds.
Just because I no longer want to make my own trades.
Are you advocating execute only ETF ISA ?
Like the videos
@@DMelectricalAssessor Basically if you have a Vanguard account, you can buy Vanguard Funds/ETFs only. So for example last year I bought Avivia (AV) +52% at the moment on it, I couldn't have bought that with Vanguard. It'd have to be part of a fund they offer. So I don't really get the appeal in limiting yourself, I thins it's OK for beginners, but seems a bad place to start. You can just buy the Vanguard ETF within Freetrade or T212 - or HL but I'm moving away at the moment. You also then get a choice of it's of ETF's, I've got a Russian one that's doing well at the moment :)
@@chrispalmer24 I get that. But it’s not a bad fund lol.
@@DMelectricalAssessor Yeah I’ve owned a couple of them just buy them within other apps 🙂
Do you guys love ISAs as much as I do?
Very informative video with great financial advice.
Thanks Kevin, much appreciated! 😀
Great video will you be showing your holding
Yes
Plus three three seven five one zero five five seven six and six
My WhatsApp alphabetical give you
Great strategy!
Hi Chris loving the videos, would you mind sharing with me the spreadsheet template you use to track everything in terms of your investments - Thanks
Hey Danny, I haven't managed to get this fully sorted yet - but hopefully will soon. To be honest It's likely something I'll give as a benefit for the patreon members as an added perk. If I make a website which I'm planning on I may put it on there too publicly :)
Hi Chris, your videos are so helpful and relatable! I understand you prefer to invest in a Vanguard ETF (via Freetrade and not the Vanguard platform) that tracks the FTS100 as opposed to the S&P500? May I ask if there are more reasons than the higher return?
Hey Laura! Thanks really appreciate it. I use Freetrade to avoid the extra fees you pay via Vanguard. I have both - S&P for the USA and FTSE for the UK - good to have a mix of both I think. USA does seem pretty high to me at the moment to be honest.
Great video Chris - I started a Stocks and Shares ISA early this year and it's crazy to see how much money it can make compared to standard savings accounts, even in such little time!
Unfortunately I don't have the capacity to save the full £20K each year on my current salary (even with a very aggressive saving strategy) but I'm hoping to be able to in the near future. On that note, I wanted to ask: what would you say is the minimum salary required to save the full £20K each year? And what proportion of take-home income (regardless of salary) do you feel should be saved? It'd also be interesting to know what proportion of your own take-home you put aside for savings, if you're comfortable sharing it.
Thanks, and keep up the great content!
I wouldn't confine myself to tracker funds. I get circulars from various discount brokers who give recommendations on active funds based on their assessments of them which I read carefully and then take decisions in conjunction with my own assessments . I've done much better over the last 26 years than I would have done if I'd confined myself to tracker funds.
Well done Laustin, which ones do you use?
@@chrispalmer24 Some of them are; Hargreaves Lansdown, Financial Discounts Direct, Individual Savings accounts Ltd.(formally the PEP shop) and BestInvest.
🔗Get access to my buy & sells as well as more frequent portfolio updates (+ support the channel) - www.patreon.com/chrispalmer24 - 50% off until the end of December
Nice video Chris, I’ve started a investment Isa of with plum, in tech giants, any thoughts of this, I put in 20k this year and will keep it up per year, also 11k in penfold in shariah that’s grown 18% this year, can’t wait for 6 figures the daily growth/loss will be scary but fun 😂😂
Hi, I really enjoy all your videos, so simple to understand and informative. Does the Isa account pay you dividends as well, since you invest in s&p500? And it makes sense to invest in an Isa for just 4 years (use the gains to travel the world) or it is better to save in a high yield saving account for such a short term goal?
Yep it does pay me dividends :) really tricky - savings account if you really need the cash, stocks you really need to be willing to play the long game, especially at the moment.
Lovely video. Insightful as well.
I'm looking to buy individual shares of companies. I didn't quite understand the part you talked about gaining £10k tax free on shares. Were you saying that gains on shares are tax free? Is there a limit? Do you have a video I can watch please. I'll love to.
Thank you.
Thanks Erastus. Yeah I'm talking about the Capital Gains Tax. So each year you can earn X through stocks tax free which is great. Ideally I'd love to use that money to fund my ISA at some point in the future - OR I may use a SIPP (more likely - I'll do a comparison video on these soon).
Using 10k profit from shares to fund 50% of the yearly ISA, that's actually a really good idea
I'd love to get to that point! I'm not far off at the moment, but will likely stop if I buy another property
LSC have a good profit daily for a yearly
Hi Chris, great video - very informative! I have a quick question regarding your plan to see if I’ve understood it correctly.
Is your plan to reach 1m in your stocks and shares Isa so that you can then take out the interest every year to live off rather than taking out the 1m capital? Have I understood correctly?
That's the plan! May have to take some capital out some years, but if I could live off it it'd be amazing, Imagine 5% (50k tax free) in a year! Although realistically I may have some in a SIPP so it may be a mix - either way would be a super nice target.
Great content
Thanks Ri, appreciate it!
Chris if I have my own company could I take the 20k out of that and put it in my invest engine ISA? Or will I need to put it in my bank first, after paying tax and then put in please? Love the videos
Thanks Michael! You need to take it out and pay tax first sadly. You could explore they have an option to open a business investment account but I’ve not done that yet. Also worth considering a SIPP. Personally I take mine out pay tax and then put it in the ISA to benefit from the compounding 🙂
good vid mate, subbed! are you ltd company status? I'm similar, a 1 man company / contractor and make full use of my pension allowances by investing in a SIPP (HL but may use Freetrade also) a nice perk is getting my company to make the contributions to my SIPP and can then avoid corp tax! but yes this money may be taxable later in life!
Thanks Simon, I am! How have you found the SIPP? I'm thinking about it, I just like the flexibility I guess of being able to have that access, I am considering a SIPP for future investments though, it's so tricky to decide which way to go. Really appreciate the comment!
Hi Chris, possibly a stupid question mate but here it goes - if i max out my £20k allowance into my S&S ISA do i have to wait till the following tax year before putting more money into the account?
Hey Marc! Not at all. Yeah you do. £20k per year at the moment - hoping it stays that way 😅 have a feeling it may come down in the future
@@chrispalmer24 Awesome 👍 thanks for taking the time to reply Chris
Anyone know what investment calculator Chris used here? It looks way better than the one I just tried...
Hi Chris have you got any vids on which ISA accounts to put money into as there are so many out there. Thanks
I use moneybox and have a LISA as well as a PIP as I'm self employed and a stocks and shares ISA. Would you recommend putting more into my stocks and shares ISA than the other 2 as at the moment I'm splitting my money 1/3 into each of them
Hey James! Completely depends on your goals. I’d fill the lifetime isa first if it’s for pension? It’s a no brainier instant 25%. SIPP vs ISA is a big debate. I don’t have a SIPP and I’m self employed I use the ISA. It becomes more efficient if your lucky enough to be in the higher tax bracket
Hey, I seem to find the answer to my question anywhere. The stock and shares ISA tax allowance is 20k. My question is , is it worth getting a stock and shares ISA if I wouldn't be able to put in 20k a year? I know the tax allowance doesn't carry over so what does that mean for the money less than 20k in my isa account?
Hey! Yeah it would, the more you can put in the better. Don’t have to fill it. Also take a look at the lifetime isa which may suit you better depending on circumstances, I’ve done a video on that one too.
@@chrispalmer24 I do like the idea of a lifetime isa Because of the extra 25% you can get from the government. However, I won't has access until retirement. Is it possible to have a Lifetime S&S isa and normal S&S isa?
Would love to see an in detail video of how you are analyzing your stocks you are investing into
Noted!
@@chrispalmer24 yes please i love to see a proper video from you please Chris
How does Trading 212 or free trade compare with AJ bell?
Hey Michael - you might find this handy! th-cam.com/video/wKzBaFiyGo4/w-d-xo.html I've compared them all :)
I will advise you to use LSC
This is my WhatsApp number
what shares have you bought with your isa? what do you do once you have opened it?
If i get an isa on vanguard is it a minimum deposit of £100 a month?
£1 million pounds in 20 years will be less than half what it is worth in today's money in England due to the obvious. I became a multi-millionaire in a space of 7 years. I do not invest in isas, etfs, stocks and shares or any of the traditional things the financial experts recommend. I retired at 50 after a full year of travel and then embarked on putting my money in the right things. I am not a financial expert, but I still have a 7 figure annual income and that is increasing enormously annually and I do not work!
Hey man, discovered your videos through searching on ISA's as I have not had alot of success, I have an ISA through my bank atm. What are the benefits of going through an ISA account like Trading 212 vs going through a Bank like HSBC ?
@Chrispalmer24_ Nice try mate
Do millionaires use the same accounts and do millionaires setup the same accounts they use for their children who are not millionaires
Everyone uses the same accounts. I think you can get quite reduced rates on some providers with more money invested
Hi Chris do you recommend Livitypro company?
Hey bud! Sorry scammers auto reply so much have to delete them. I've actually not heard of this one, is it worth checking out?
@@chrispalmer24 no, I think its a scam thanks for your attention
Could you please tell me what an etf tracker is and advise on what one is good to get
Hey Nev, an ETF tracks generally the Index of a market, so a FTSE tracker for example. or S&P500 - General market in the US or UK. I'll do a video on the best beginner ETFs shortly! It's on my list
@@chrispalmer24 legend buddy thank you! I have been in touch with you on messenger, my name’s jake neville 😁
@@nevbobz Hey Jake!
Hi,
Would you look to split your ISA balance across numerous providers, in order to be fully protected under FCA etc? Have 1 million sat with one provider could be risky if that company were to go bust? Or am I missing something? Thanks
Hey Jake, The 85k is only on cash held on account, the actual shares are in a 3rd party that is protected, so I'll likely not keep more than 85k invested in one. Also I can only have the one ISA (unfortunately - or I would).
Mine will likely be split across a SIPP and an ISA by the time I get there - unless they increase the ISA limits - they've actually been lower in the past to get more tax in (hoping they don't do that!)
Hi Chris,
Would you say there is a minimum amount of money to invest in each month/ year?
Also if investing smaller amounts would you recommend investing in 1 etf or spreading them over 3 etfs for example?
Thanks
Hey Ciaran, Not at all! Anything you can save will be really helpful. I'd likely stick with one and keep putting in to it on a monthly basis. It just depends on what fees your paying. Can split if it's cheap enough
Can somebody just confirm.
I can invest the maximum of 20k into an isa,,,any profits I can take out completely tax free.
So if I wanted to take 60k out of a 80k isa,,I will have completely no tax to pay inland revenue.
Thankyou
@Kim BerlyStop spamming or I will report you.
Hi, how can I contact you?
Hi Riccio, you can use the email on my contact page 👍
Hy Chris how can i verify that the investing platform i downloaded is the correct 1? I have heard of scammers creating apps with similar names to real companies
Hi , I have been paying into a stocks and shares isa this tax year , can I do a transfer to another broker in the same tax year and close the current one and then start funding the new one, or do I need to wait until April to do a transfer now.
I have just tried to do a transfer with interactive brokers and got the message " you can only contribute to one stocks and shares ISA per tax year" and I can't seem to get clarification on the rules online.Thanks.
7:55
Sorry could not find the ISA calculator
Here with a professional platform with good ROI
This is the WhatsApp number
Plus three three seven five one zero five five seven six and six
Thanks for sharing your strategy..you just speak too fast mate🤣
Tried slowing down a little this video, ends up sounding so dull if I speak too slowly 😅
Good pace IMO. Kept me til the end
@@mattc4709 Thanks 🙏
@@chrispalmer24 your pace is fine dude
Despite all the economic crisis,this is still good time to start up an investment. I invested in both stocks and crypto but currently I believe crypto is doing much better
Hey Levi, I’ve got a video on a beginners crypto portfolio which may help you I’ve got around $1000 in right now I’ll do another update soon. Crypto is good but it is risky just depends on how much you’re willing to lose. The market on the whole is high at the moment so best to buy small amounts regularly to be safer. Crypto is currently about 0.5% of my portfolio slowly increasing it 🙂
Yo! Do you use 212? I cost average into vwrl in vanguard and trade with 212. All in isas
Hey Chris. I use Freetrade at the moment (similar without the spread worries) but don’t think it’s that noticeable! Great strategy. VWRL is great 👍