LIFE AFTER HELGA !!!!

[wigster]

Thats normal Ian mate we are all going a bit loony

 

[ianthebuilder]

Good evening,,,

not much to report, weather is a lot better, got a couple more jobs to see this week, but apart from that, nothing much is happening!!
I cancelled my tv license, which was due for renewal, I only really watch. YouTube, Netflix and prime now! It wasn’t the money that did it, I just thought it was s,,,t !!
Been looking at vans for conversion etc, not ready to buy, but looking at what’s about! That’s about it really,,

I hope your well and bearing up under the pressure of life! Xxxxx

 

[ianthebuilder]

Good morning,,, well where to start?????

hopefully we’re coming out the other side of this troubled time, or at least seeing the light in that tunnel!!

Im busy working, I have a small/ ish extension I’m building in Dereham, Norfolk at the mo, still doing the groundwork, and digging but getting closer to working out of the mud! I will post a pic or two this week!

I have after this one a sun room/ extension to build in Gorleston, and this morning I’m going to see a prospective customer for a large extension in Norwich! Now this lead comes from checkatrade, of which I joined two weeks ago,,, although it seems a bit pricey, for a small builder like me, it seems to be working, in the last week I have had three, genuine, good quality enquiries,, so I’m hopeful! Now I do have certain challenges to overcome,, firstly I’m considering making hay while the sun shines, taking on more work than is possible for me to do alone, which means, secondly, finding a couple of quality people to help, work for me etc! So it begins,, a new challenge,

I have given myself a three year target, that I shall break down into blocks of 3/6 months to achieve certain things,, but the most important of which to me is financial!!

I have got through the last 18 mths ok, accrued no debt, and have saved a few quid, not much but I’m not broke!! I have an excellent credit rating, should I need it ( at the moment) lol. And that I am pleased about!! So,,,,,

Buikding work has gone mad, for volume, it seems, but on the down side prices for materials have shot up!! And some materials are harder to get,,, for example, I am now having to wait a week after ordering , and paying, for stuff for the delivery, this is making it a bit tighter to plan things and organise the working week, eg,, no more materials for me till next Thursday, so I have to commit to delivery, and price, now I’m under pressure to get to a certain stage in the build to free up space for next weeks delivery, this rain is not helping, lost one day already this week, and digging trenches in the wet is horrid, but I have to concrete, get brickwork and blockwork up to dpc level by Thursday, or there’s no room for next delivery, which is materials for oversite!!

However, I shall not be defeated, and am looking forward to attacking the work vigorously on Monday morning!! Whatever the weather!!

Now off topic, I am looking for some advice,,, re investing ,,,
As a part of my 3 year plan, I am looking to have a bit of a gamble in the markets,,, not thousands ( to start with) maybe just one thousand, and I know bigger all about this,,
I know I need a platform to start this, and I only want to access from my iPhone, no good to me computers!! Can anyone recommend or advise as to what is a good beginner platform,, with a bit of hand holding, and not too higher fees?
I would also like to use the system as a savings system, by that I mean I would like to add a hundred or two into it on an a two weekly basis, as opposed to just leaving the money in my business/ current account! So all you savvy, clever, sorted people out there can use me as a pet project , or as your personal human experiment,,,,, couple of things,,,, I am well aware it’s a gamble, and the money I put in im willing and able to loose,,,,, im not looking for long term gains, it’s too late for that, but having a bit of a gamble for1/3 years appeals to me!! Nothing ventured nothing gained! So help is needed, for platform and advice on starting,, not looking for insider info,,,, im prepared to do the work!! Thanks, chat later! Xxxxxxx

hope you are all well, and getting through these strange times ok! Xxxxx

 

[Ivory55]

Glad it’s going ok, you’re working the wrong side of Norwich. Stay away from the A47. Haha. Loose time stuck in the traffic. Good luck.

 

[scousebird]

Good to hear from you Ian. Can't help with investment info but keep up the good work.

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[PhilMary]

Good to see you are busy ianthebuilder but be like a good Yorkshire man and keep your brass in your pocket.

 

[dalspa]

Lovely to get an update from you Ian, and to hear it to be a positive one. All trades seem to be booked up for weeks ahead. My plumber is a nightmare trying to get him to come and do work for me. He eventually agrees that he can “give me a day” and then when he turns up (about 9.30!) and by about 11.00 he’s packing his stuff back in his van. When I say I still want him to do another task (about 15 minutes work) he says he hasn’t got the Speedfit pipe to do it! Too far in with him to ditch him, and paying him as and when he works for me. With the increase in prices it must be difficult to cost a job.
Glad you state that you are not going to invest an amount that you are not able to to lose. Not that I know much about investment but gains on short term tend to be more risky. I’m sure that there will be more Funsters that will be able to offer advice on here re this.
Agree with Ivory55 re A47 - we went to Well Next The Sea for a few days after the Bank Holiday Monday and the A47 around King’s Lynn was an absolute nightmare, would go via Downham Market, Swaffham and Fakenham next time I’m going up into Norfolk. First time out in the van since we came back from France in September 2019!
Onwards and upwards. David.

 

[Ivory55]

When I was working over Wisbech I would not do a Sunday night shift in the summer as it would take so long to get there

 

[chaser]

Good to see you are busy ianthebuilder but be like a good Yorkshire man and keep your brass in your pocket.

Not getting in to this , you know what I think but you could do worse than take the above advice.

 

[Tanya_and_Mick]

Or, try these guys Ian - they’ve a decent track record now and cater for small investors …

Simple iPhone app and plain language

a good time to dabble as most will only get better…

good luck mate

Online investment management | ISAs | Pensions | Lifetime ISA | Junior ISA - Nutmeg

Nutmeg is an online investment management service. Invest money using our General Investment Account, ISA, Pension, Lifetime ISA or Junior ISA.

www.nutmeg.com

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[busby]

Great that all's going well for you Ian..Good luck with your plan.Its nice that your feeling so positive,,Stay safe.BUSBY

 

[Odd job]

Hi Ian, glad you're doing well, my advice regarding investment is a pension. When you put money into a pension the government gives you the tax back on it, at the higher rate if that's what you are paying. It's hard to beat that rate with any normal investment, and of course the money in a pension is also invested and is tax free until you take it out even then 25% is tax free

 

[chrisgreen]

Lovely to get an update from you Ian, and to hear it to be a positive one. All trades seem to be booked up for weeks ahead. My plumber is a nightmare trying to get him to come and do work for me. He eventually agrees that he can “give me a day” and then when he turns up (about 9.30!) and by about 11.00 he’s packing his stuff back in his van. When I say I still want him to do another task (about 15 minutes work) he says he hasn’t got the Speedfit pipe to do it! Too far in with him to ditch him, and paying him as and when he works for me. With the increase in prices it must be difficult to cost a job.
Glad you state that you are not going to invest an amount that you are not able to to lose. Not that I know much about investment but gains on short term tend to be more risky. I’m sure that there will be more Funsters that will be able to offer advice on here re this.
Agree with Ivory55 re A47 - we went to Well Next The Sea for a few days after the Bank Holiday Monday and the A47 around King’s Lynn was an absolute nightmare, would go via Downham Market, Swaffham and Fakenham next time I’m going up into Norfolk. First time out in the van since we came back from France in September 2019!
Onwards and upwards. David.

I went to Fakenham on Monday from oxford to pick something up, 264-mile round trip took me 9 1/2 hours the first time I have been to Norfolk, never again.

 

[monzer]

For short term saving you could always look at crypto currency. It's a buyers market at the moment and plenty apps available to buy easily. I use binance app or coinbase.

 

[Figaro]

Hi Ian, good to hear from you and it's great to hear business is going well.
Regarding investing, you could try a share ISA through Vanguard and their All World Tracker or Lifestyle 80 funds are good and have low charges. But shares are really for the longer term investing which maybe not what you are looking for ? 1 to 3 years is quite short term but bank savings rates are close to zilch. Premium Bonds may be worth a punt and 100% safe.
Keep us posted

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[Scotch mist]

IMO & it worked for me , invest in yourself, you will get a far better return & there won’t be parasites feeding on your savings taking commission even if you don’t make a profit

 

[ianthebuilder]

U

Hi Ian, glad you're doing well, my advice regarding investment is a pension. When you put money into a pension the government gives you the tax back on it, at the higher rate if that's what you are paying. It's hard to beat that rate with any normal investment, and of course the money in a pension is also invested and is tax free until you take it out even then 25% is tax free

nf time has passed me by on that one, gasman,, 3/5 years plus earnings saved is all I’m gonna do! Unless I buy Bitcoin at 5p and it goes to £14,000 lolol

 

[ianthebuilder]

Or, try these guys Ian - they’ve a decent track record now and cater for small investors …

Simple iPhone app and plain language

a good time to dabble as most will only get better…

good luck mate

Online investment management | ISAs | Pensions | Lifetime ISA | Junior ISA - Nutmeg

Nutmeg is an online investment management service. Invest money using our General Investment Account, ISA, Pension, Lifetime ISA or Junior ISA.

www.nutmeg.com

Thanks mick, I shall have a look this afternoon, xx

 

[ianthebuilder]

I

Lovely to get an update from you Ian, and to hear it to be a positive one. All trades seem to be booked up for weeks ahead. My plumber is a nightmare trying to get him to come and do work for me. He eventually agrees that he can “give me a day” and then when he turns up (about 9.30!) and by about 11.00 he’s packing his stuff back in his van. When I say I still want him to do another task (about 15 minutes work) he says he hasn’t got the Speedfit pipe to do it! Too far in with him to ditch him, and paying him as and when he works for me. With the increase in prices it must be difficult to cost a job.
Glad you state that you are not going to invest an amount that you are not able to to lose. Not that I know much about investment but gains on short term tend to be more risky. I’m sure that there will be more Funsters that will be able to offer advice on here re this.
Agree with Ivory55 re A47 - we went to Well Next The Sea for a few days after the Bank Holiday Monday and the A47 around King’s Lynn was an absolute nightmare, would go via Downham Market, Swaffham and Fakenham next time I’m going up into Norfolk. First time out in the van since we came back from France in September 2019!
Onwards and upwards. David.

I’ve always found plumbers a law unto themselves,, come and do a job and then shoot off for two hours to get a bit of pipe! And electricians,, Just as bad! I mean if your a plumber wouldn’t you have a selection of tees/ elbows/ pipe in van ? If not, why not? Lol

 

[Ivory55]

Don’t ask me about money and investment, if I knew I would have money and staying in luxury hotels not £10 a night farmers fields. Haha

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[chaser]

I

I’ve always found plumbers a law unto themselves,, come and do a job and then shoot off for two hours to get a bit of pipe! And electricians,, Just as bad! I mean if your a plumber wouldn’t you have a selection of tees/ elbows/ pipe in van ? If not, why not? Lol

That's something I could never understand when I worked at an electrical wholesalers, electrician's would come in every morning to get a socket or something, must cost more in fuel than buying a boxful every week.

 

[dalspa]

I

I’ve always found plumbers a law unto themselves,, come and do a job and then shoot off for two hours to get a bit of pipe! And electricians,, Just as bad! I mean if your a plumber wouldn’t you have a selection of tees/ elbows/ pipe in van ? If not, why not? Lol

Absolutely. He doesn’t ever want to put in isolation valves, saying there’s no need for them as you just have to turn the water off at the stop tap to do any changes. We must have been lucky with the electrics as the electricians were brilliant and I could not fault them. Put in about 30 new sockets (I chased in for all of them) and new fuse board plus other works. One of the electricians did put his leg through a ceiling though but, fortunately, at a location where we were having the ceiling over boarded! If he had been a metre further over it would have been different.
David.

 

[The Lord Squid]

I just put any extra into my pension, and I'm in my 60s. In today's Guardian:

‘I put my life savings in crypto’: how a generation of amateurs got hooked on high-risk trading

Online trading apps are drawing in novice investors willing to risk everything on volatile stocks. Do they really know what they’re doing?

www.theguardian.com

 

[Spriddler]

That's something I could never understand when I worked at an electrical wholesalers, electrician's would come in every morning to get a socket or something, must cost more in fuel than buying a boxful every week.

Much like garages they rely on not having to hold any stock of even basic items as numerous factors/wholesalers/DIY chains are everywhere. My local garage can have parts delivered within an hour or even sooner.

 

[Ivory55]

Nobody holds stock now, it’s seen as dead money. Transport is so cheap it can be delivered so quick.

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[Odd job]

U

nf time has passed me by on that one, gasman,, 3/5 years plus earnings saved is all I’m gonna do! Unless I buy Bitcoin at 5p and it goes to £14,000 lolol

Even though it's a short time frame a pension is the best return you're going to get, once you have stopped paying in you can start taking out.
If you put in £4000 the pension will have £5000 in it you can take 25% tax free £1250 that leaves £3750 if you pay tax at 20% you will have £3000 add the £1250 and you have £4250 not counting the gain in the investment whilst the money is invested.
You can even do this in the same year so £4000 in and £4250 back in a few months, but you can only do it once.

 

[Ivory55]

Even though it's a short time frame a pension is the best return you're going to get, once you have stopped paying in you can start taking out.
If you put in £4000 the pension will have £5000 in it you can take 25% tax free £1250 that leaves £3750 if you pay tax at 20% you will have £3000 add the £1250 and you have £4250 not counting the gain in the investment whilst the money is invested.
You can even do this in the same year so £4000 in and £4250 back in a few months, but you can only do it once.

But aren’t there fees as well that get charged by the company that run the pension and when it’s cashed in.

 

[Odd job]

But aren’t there fees as well that get charged by the company that run the pension and when it’s cashed in.

You can do a self invested pension, they do charge but I think it is about 0.5% I'm not a pension expert I did some research after the Osborne reforms made it worthwhile investing in pensions, I have a managed fund because I don't want to spend my retirement reading the financial pages but if you make the effort you can do it fully DIY. if the situation had been like this years ago I would have a much better pension than I do. I stopped paying into my pension years ago when I worked out how bad annuities were, and started again after Osborne. At the time I was paying tax at the higher rate so got the tax back at 40%, I now draw out enough to take my state pension income upto my tax allowance so pay no tax at all on my private pension. Win win

 

[Hirsch]

Crypto currencies. Be prepared to make big or lose everything you put in. At least that is what I gleaned from a radio article I heard yesterday.

 

[mikebeaches]

Good to hear things are going well and you've got plenty of work on. Oh and it's never too late to think about financial planning for the future, even if a 1-3 year horizon for the stock market is pretty tight.

There could be merit in considering a self-invested pension. Mrs mikebeaches didn't start hers until in her 60s, and although she is not a tax payer HMRC still kindly top up her contributions by 20%, which gives a great boost before any investment gains. She's been paying in £2,880 net per year and the Government top up is £720, so £3,600 in total goes in annually. She's still in her 60s and so after about 8 years her pot is now worth circa £72k. She has a single low-cost tracker that follows the US stock market. It's performed reasonably well - not necessarily stella, but pretty good nonetheless. Who knows whether the US will continue to do well? Many pundits suggest UK markets are about to have their moment in the sun - they've been in the relative shade for quite a few years...

You do need to choose a 'platform' whichever way you decide to invest - pension (SIPP) or an ISA. Hargreaves Lansdown is the largest in this country. They're good but a bit expensive - though not too bad if the sums involved are modest - they take 0.45% of your money each year for the service they provide holding your funds.

The second largest now is interactive investor (ii) - their platform pricing is different, because they charge a flat fee of £9.99 a month for an ISA, but that includes a free trade of any size each month. I think it's possibly a bit more for a pension (SIPP).

Both the above have pretty good apps, so everything can be managed on a phone.

A large American platform - Vanguard - has a growing UK operation that is quite popular.

There is lots more choice, and trying to compare all the different platform pricing structures can be a nightmare to work out which will be best for your own circumstances.

One of the golden rules of investing is to avoid putting all of your eggs into one basket - in other words, invest in more than one or two companies.

Tracker funds tend to follow whole stock markets, and so are reasonably well diversified. You can of course hold a number of trackers each following different markets if you want to be even more diversified. And the costs can be extremely low. But they may not produce quite such good results as a 'managed' fund, where some expensive financial boffins have decided what to invest in. Trouble is, only about 20%-25% of managed funds actually beat the market each year. And the others, have earned a generous commission from you for performing below par...

Information about the whole subject on Martin Lewis's moneysavingexpert.com might be worth perusing.

Investing for beginners

This MoneySavingExpert guide shares the 10 things you need to know about investing, including how to invest and whether it's the right option for you.

www.moneysavingexpert.com

Good luck whatever you decide.

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