Preserving a lump sum?

[grober]

IFA's= the Infra-Draw Method "Horace Batchelor, Department One, Keynsham, spelt K-E-Y-N-S-H-A-M, Keynsham, Bristol"

 

[artyman]

IFA's= the Infra-Draw Method "Horace Batchelor, Department One, Keynsham, spelt K-E-Y-N-S-H-A-M, Keynsham, Bristol"

Wow that's a blast from the past!

 

[tombo5609]

further thanks.
i had a short chat with another IFA today and he wanted 1200 smackers to go through my history and other bits of financials… i explained that i didn't want to repeat that exercise and that i was interested in specific bond type holdings … he wasn't interested …. so i just left him to it!
we will soon be getting into the christmas spirit so i probably won't do anything too rushed before the new year….
thanks for all the reminders about life being short, yes it certainly can be, but I'm hoping to be around for many years yet and id like to keep a few dollars to rattle around while I'm tyre kicking a few nice amg's or the odd aston martin!
i hope the thread continues for a while, as many here are interested in this topic. thanks again meantime.

Further to my reply regarding IFAs.
I am not sure of your situation regarding your present property but after losing a lot of money with Equitable Life I decided to take drastic measures.
I sold up in UK which released a considerable amount of cash.
I then bought a plot of land in Turkey and had a house built along with swimming pool etc and for ten years lived a very compfortable life as my outgoings where very low.
Two years ago I sold this property for a considerable profit, bought a smaller property in Turkey. I then bought a small retirement home in Florida and spend the end of the year here before returning to UK.
The problem I have now is where to spend the winter.
The best thing that happened to me is for to make an initial bad investment as this forced me to think outside the norm.
The most important thing to remember is that never to buy for more than you think you can sell for.
It is only money when you exchange it for goods. Otherwise it is just pieces of paper.
Good luck

 

[124fan]

tombo, i admire your braveness, as thats the type of thing we had planned perhaps 15 - 20 years back! I've found it more difficult to make the moves as the years creep on, that and the fact that over the years I've gathered so much "that will be useful some time" stuff that my shed is twice the size of the house and brimming to the door lol.
We have thought about wintering in the USA or perhaps a permanent move, its not perfect either and times are changing, but some nice property can be had for what looks like sensible money. not sure what they require if you want to retire there and live full-time? healthcare is another story, and at some point we would probably be needing it! might start a cash for gold shop and just rake it in lol...

 

[tombo5609]

tombo, i admire your braveness, as thats the type of thing we had planned perhaps 15 - 20 years back! I've found it more difficult to make the moves as the years creep on, that and the fact that over the years I've gathered so much "that will be useful some time" stuff that my shed is twice the size of the house and brimming to the door lol.
We have thought about wintering in the USA or perhaps a permanent move, its not perfect either and times are changing, but some nice property can be had for what looks like sensible money. not sure what they require if you want to retire there and live full-time? healthcare is another story, and at some point we would probably be needing it! might start a cash for gold shop and just rake it in lol...

I understand your dilemma but if it is in the shed then you do not need it.
When I left UK I owned a Mercedes 320E estate and everything I owned fitted in that car. We took a 2 month tour around Europe visiting all the places we promised to do at some time.
I now spring and autumn in Turkey, early winter in US and spend the worse of the winter somewhere warm.
I have done this for 15 yrs and can only afford to do so because I got rid of the baggage that was stopping me.
The only thing I do not have is a large property in UK but what is the use of rattling around in a large house that you cannot leave for an extended period because the grass needs cutting once a week.
Freedom to do what we like has altered my life. If my wife and I sit still for a couple of weeks we are planning the next trip. We have travelled all over the world in the last 12 yrs. I am now 75 yrs of age and have no plans to slow down in the near future.
By the way, just returned from a weeks Caribbean cruise.

 

[fredT]

If an IFA knew what he was doing, would he actually be an IFA? Of course not, he would be investing his own money and not needing a job.

So step one is forgetting about the IFA. That's the only advice I can give that will guarantee you making (saving) money.

Next you have to decide what risks and liquidity you want/need, and decide on suitable assets.

Though I am not close to retiring I am also sitting on a lump of cash I would like to do something with. Remember that cash can also turn out to be the best investment. It's risky out there at the moment with everything hanging on our dubious politicians mood of the day, doing what they think will get them most votes at the next general election.

Very tricky environment to get investing in.. Not sure how much leverage I would want on real estate today, and I think I would want a 10yr outlook to feel safe.
Stock market? S&P at an all time high seems crazy to me..

GOOD LUCK

 

[renault12ts]

If an IFA knew what he was doing, would he actually be an IFA? Of course not, he would be investing his own money and not needing a job.

So step one is forgetting about the IFA. That's the only advice I can give that will guarantee you making (saving) money.

Next you have to decide what risks and liquidity you want/need, and decide on suitable assets.

Though I am not close to retiring I am also sitting on a lump of cash I would like to do something with. Remember that cash can also turn out to be the best investment. It's risky out there at the moment with everything hanging on our dubious politicians mood of the day, doing what they think will get them most votes at the next general election.

Very tricky environment to get investing in.. Not sure how much leverage I would want on real estate today, and I think I would want a 10yr outlook to feel safe.
Stock market? S&P at an all time high seems crazy to me..

GOOD LUCK

So..if you know what you're doing you invest your own money? So IFAs are people who know nothing and have to work for a living. You do talk rubbish...are you a teacher?

 

[fredT]

So..if you know what you're doing you invest your own money? So IFAs are people who know nothing and have to work for a living. You do talk rubbish...are you a teacher?

Well if you were confident you could make money investing it in the markets, why would you charge people for this advise rather actually using this information to make money for yourself?

Financial advisors, stock market analysts etc wouldn't be going to a job if they were confident in the advice they are giving out.

But they are not confident, so instead they go about charging people for advise that has about 50% probability of being correct..

 

[developer]

Well if you were confident you could make money investing it in the markets, why would you charge people for this advise rather actually using this information to make money for yourself?

That's not how it works.

An IFA may well (and probably does) invest for himself - he'd be daft not to, however, if he has 500 clients and earns commission from each then he's enjoying returns from both sources.

My IFA has been great over the years - my comment wasn't about IFA's, it was about a particular IFA trying to charge £1200 for basic advice.

 

[fredT]

No one would deal with 500 clients if they didn't have to.

Thing is for the 1 guy who is actually useful and is offering good advice, there must be 100 like the aforementioned clown wanting 1200 quid to 'assess someone's situation'

I am not a fan

 

[mickl]

you should vary your portfolio of assets and not put everything in one basket to limit your exposure to risk. I appreciate not everyone would be able to do this and also, if you can't afford to lose it all, don't do it.

Surprised, considering this site, no one has suggested speculating on a classic car or two.

 

[renault12ts]

Well if you were confident you could make money investing it in the markets, why would you charge people for this advise rather actually using this information to make money for yourself?

Financial advisors, stock market analysts etc wouldn't be going to a job if they were confident in the advice they are giving out.

But they are not confident, so instead they go about charging people for advise that has about 50% probability of being correct..

What sector do you work in?

Why does Warren Buffet still go to work?

 

[124fan]

you should vary your portfolio of assets and not put everything in one basket to limit your exposure to risk. I appreciate not everyone would be able to do this and also, if you can't afford to lose it all, don't do it.

Surprised, considering this site, no one has suggested speculating on a classic car or two.

i have a few cars but again they are not very liquid and you have to look for bidders.

 

[fredT]

What sector do you work in?

Why does Warren Buffet still go to work?

Well it wont be to deal with 500 clients I can assure you!

I'm in the financial markets, if it makes any difference.

 

[baxlin]

Just a couple of thoughts........

Thing is for the 1 guy who is actually useful and is offering good advice, there must be 100 like the aforementioned clown wanting 1200 quid to 'assess someone's situation'

Why "must be"? Why not 100 "actually useful" and one like the "aforementioned clown" - a "clown" who actually might do a very good job, and save/earn the client significantly more than the £1,200 outlay?

I am not a fan

Obviously

 

[renault12ts]

Just a couple of thoughts........

The problem is some people see the price, not the result.

So many "wise" investors have cash ISAs...and are not even beating inflation. Ho hum.

 

[fredT]

Ok to make my point a little clearer.

No one knows which investments will or will not work, so a diversified portfolio will perform just the same regardless of who chose the products.

You don't need an IFA for anything you just need to find the assets that match you risk/liquidity requirements.

Its NOT rocket science.

 

[lxi]

Ok to make my point a little clearer.

No one knows which investments will or will not work, so a diversified portfolio will perform just the same regardless of who chose the products.

You don't need an IFA for anything you just need to find the assets that match you risk/liquidity requirements.

Its NOT rocket science.

Nor is Russian Roulette but I wouldn't do that either

 

[renault12ts]

Ok to make my point a little clearer.

No one knows which investments will or will not work, so a diversified portfolio will perform just the same regardless of who chose the products.

You don't need an IFA for anything you just need to find the assets that match you risk/liquidity requirements.

Its NOT rocket science.

And how many ordinary people can understand those words, let alone make the right choices?

 

[tombo5609]

What sector do you work in?

Why does Warren Buffet still go to work?

Warren Buffit does not employ a FA.

About 20yrs ago I had a rather nice BMW for sale. A guy came to view it in a Lada. The reason for wanting my car was that he was a FA and arriving in a Lada did not give the right impression.

Snake oil salesmen would give them a good name.