Xela Posted March 7, 2018 Share Posted March 7, 2018 34 minutes ago, TheAuthority said: Index trackers are essentially ETF's - do you mean managed funds vs ETF's? Sorry, wrong terminology! I meant passive investment/index funds (OEICS in the UK - think they might be called mutual funds in the US) v EFTs . They seem broadly similar in their passive nature. I don't think i'd bother with active/managed funds, fees are higher and no guarantee they can beat the market. Link to comment Share on other sites More sharing options...
TheAuthority Posted March 8, 2018 VT Supporter Share Posted March 8, 2018 (edited) 20 hours ago, Xela said: Sorry, wrong terminology! I meant passive investment/index funds (OEICS in the UK - think they might be called mutual funds in the US) v EFTs . They seem broadly similar in their passive nature. I don't think i'd bother with active/managed funds, fees are higher and no guarantee they can beat the market. I see. Yes actively managed funds are in some ways a little bit more of a gamble and the fees do eat into your profits. I think it's a great idea to cut down your emergency fund and put your money to work for you. It sounds like you're planning on doing it yourself? Usually when you sign up for an online brokerage account most websites have "fund screeners" with various filters to come to some funds that you're comfortable with. My best advice would be make sure you have a blend of i) Industry Sectors & ii) Geographic Markets I think I said this before but buying stocks in companies that you use and like is not a bad rule to go by. Edited March 8, 2018 by TheAuthority spellin' 2 Link to comment Share on other sites More sharing options...
Xela Posted March 12, 2018 Share Posted March 12, 2018 On 2/20/2018 at 05:57, TheAuthority said: The rule of thumb is that your money should double every 7 years. So 100K today in 2025 should be worth 200K, 2032 = 400K & 2039= 800k etc. If you can keep adding over those 21 years you should be close to being a millionaire! Is that possible with passive investing, either in ETFs or OEICS? Seems optimistic (but encouraging!) Link to comment Share on other sites More sharing options...
TheAuthority Posted March 12, 2018 VT Supporter Share Posted March 12, 2018 3 minutes ago, Xela said: Is that possible with passive investing, either in ETFs or OEICS? Seems optimistic (but encouraging!) If they get the US stock market return average or beat it slightly. I believe that the historical average for the DOW & the S&P are right on at 7%. The NASDAQ is higher but has been around for less time and is more volatile. You wouldn't go far wrong if you just put your money into index linked ETF's of those 3. Again it's just how you want to split up your cake - e.g. a more traditional advisor would say 33.3% in the NASDAQ gives you too much exposure to tech stocks, but I'm more like, Tech stocks?............. 1 Link to comment Share on other sites More sharing options...
Genie Posted March 12, 2018 Share Posted March 12, 2018 I’ll be making a minimum of £300 from Matched betting the Cheltenham Festival with offers live now, I’m sure there will be more as the week goes on. 2 Link to comment Share on other sites More sharing options...
mykeyb Posted March 12, 2018 Share Posted March 12, 2018 On 21/02/2018 at 18:01, Xela said: It started off about investments and bonds and ended up about the state of @tonyh29's cock! Has it generated any interest? 2 Link to comment Share on other sites More sharing options...
Xela Posted March 13, 2018 Share Posted March 13, 2018 20 hours ago, mykeyb said: Has it generated any interest? Even less then my ISA and that is tiny! Link to comment Share on other sites More sharing options...
Risso Posted March 13, 2018 Share Posted March 13, 2018 The value of Tony’s cock can go down as well as up. You may end up with a smaller cock than you started with. 1 Link to comment Share on other sites More sharing options...
Xela Posted March 16, 2018 Share Posted March 16, 2018 (edited) On 3/13/2018 at 18:33, Risso said: The value of Tony’s cock can go down as well as up. You may end up with a smaller cock than you started with. "Past performance is not a guide to future growth" Edited March 17, 2018 by Xela 2 1 Link to comment Share on other sites More sharing options...
TheAuthority Posted March 17, 2018 VT Supporter Share Posted March 17, 2018 On 3/12/2018 at 16:01, Xela said: Is that possible with passive investing, either in ETFs or OEICS? Seems optimistic (but encouraging!) Hey Xela I feel like a bit of an idiot for my earlier response to this. My memory had got a bit mixed up and now I fell like I'm that guy on an internet forum confidently espousing terrible advice. My apologies. I terms of doubling your invested money what I was recalling was the rule of 72. The rule says that to find the number of years that it will take your money to double, divide the interest rate into 72. So, an interest rate of 10% would take 7.2 years to double (my target and and example I gave earlier in the thread if you started with 100k) If you are getting 8% interest then 72/8= 9 years to double the principal. Apologies. 1 Link to comment Share on other sites More sharing options...
Dr_Pangloss Posted March 17, 2018 Share Posted March 17, 2018 The performance of the ETF is totally contingent on the underlying asset/ thing it is indexing so there's no guarantees of anything. Link to comment Share on other sites More sharing options...
Stevo985 Posted April 15, 2018 VT Supporter Share Posted April 15, 2018 So the OH has got herself into a bit of financial bother and looking for some advice on the best way to deal with it. Basically she has 2 credit cards. Nothing astronomical on them but it's slowly growing. It's less than 10 grand but more than 5 grand. Combined. Anyway, she is paying interest on one of them and will be paying interest on the other one form next month. This annoyed me because I've told her loads of times to get a new interest free for balance transfers card and transfer the balance over go stop paying interest. Anyway, this is what she eventually tried to do. However, she made a massive **** up. She realised while she was on the phone with her bank trying to arrange a new credit card that she hadn't changed the address on her credit card or her bank account to our new address. Instead of owning up, she lied and said she still lived at the old address. They sussed she was lying and said that was fraudulent behaviour, so she was denied a new credit card and it's hit her credit rating hard. Apparently she can't apply for any more credit for 3-6 months. So I have two questions. The first one is I have offered to transfer her balance onto a credit card of mine and then she gives me money every month to pay it off. Is there anything dodgy about doing that? I'm guessing not but seeing as she's in a bit of bother already I want to be sure. Secondly, what's the best way for her to build back up her credit rating? Is she better off paying off all of the credit cards (eg transferring all of it onto mine), or is she better off leaving some of it on a credit card of her own and paying it every month? I'm sure I heard that it looks good to have a credit card that you are paying off. The idea is basically that I'll put the balance onto my card until she can apply for a new one of her own, at which point we'll transfer it back and she'll then take care of the debt again. I may have explained that badly. I'm pretty good at managing my money so I've never really had to deal with stuff like this. Link to comment Share on other sites More sharing options...
lapal_fan Posted April 15, 2018 Share Posted April 15, 2018 I guess there would be no quarrel over you giving her the money, her clearing her debt off the cards, and then her paying you for her borrowed money.. The credit card companies just want what they are owed, in any way shape or form. It would also probably be better for her to wait a few months to get a new card, and then just build her score by buying tiny things on it and paying them off straight away. Double win for her because paying you will also means she isn't paying interest (you cold hearted bastard). But saying all that means nothing from me because I've ways refused to have a credit card (which weirdly has it's own problems!) My wife has one which i have paid things off on, like a bunch of flights for a stag do in one go, then as the money came in, it went straight back to the card. 1 Link to comment Share on other sites More sharing options...
markavfc40 Posted April 15, 2018 Share Posted April 15, 2018 46 minutes ago, Stevo985 said: So I have two questions. The first one is I have offered to transfer her balance onto a credit card of mine and then she gives me money every month to pay it off. Is there anything dodgy about doing that? I'm guessing not but seeing as she's in a bit of bother already I want to be sure. Secondly, what's the best way for her to build back up her credit rating? Is she better off paying off all of the credit cards (eg transferring all of it onto mine), or is she better off leaving some of it on a credit card of her own and paying it every month? I'm sure I heard that it looks good to have a credit card that you are paying off. The idea is basically that I'll put the balance onto my card until she can apply for a new one of her own, at which point we'll transfer it back and she'll then take care of the debt again. I may have explained that badly. I'm pretty good at managing my money so I've never really had to deal with stuff like this. There is nothing dodgy about transferring a balance from a card that is not in your name. In terms of building up her credit rating again then the best way to do this would be to have credit in her name. If she is paying interest on her current credit card balance though then if possible I would transfer all that on to a 0% card in your name. She should get another credit card, even one with a high interest rate which could the case due to the hit on her credit rating, and then use it regularly just for day to day spending but ensure she pays it off in full every month and this will help her again build up a good credit history/rating. In this day and age with so many 0% balance transfer deals lasting 2 -3 years in many cases and also fee free there is no reason to be paying interest on credit card balances so I'd be focusing on ensuring you get her balance transferred on to a 0% card in your name asap and then getting her another credit card and rebuilding her credit rating even it it means waiting a couple of months to do so. 2 Link to comment Share on other sites More sharing options...
Xela Posted April 15, 2018 Share Posted April 15, 2018 59 minutes ago, Stevo985 said: So the OH has got herself into a bit of financial bother and looking for some advice on the best way to deal with it. Basically she has 2 credit cards. Nothing astronomical on them but it's slowly growing. It's less than 10 grand but more than 5 grand. Combined. Anyway, she is paying interest on one of them and will be paying interest on the other one form next month. This annoyed me because I've told her loads of times to get a new interest free for balance transfers card and transfer the balance over go stop paying interest. Anyway, this is what she eventually tried to do. However, she made a massive **** up. She realised while she was on the phone with her bank trying to arrange a new credit card that she hadn't changed the address on her credit card or her bank account to our new address. Instead of owning up, she lied and said she still lived at the old address. They sussed she was lying and said that was fraudulent behaviour, so she was denied a new credit card and it's hit her credit rating hard. Apparently she can't apply for any more credit for 3-6 months. So I have two questions. The first one is I have offered to transfer her balance onto a credit card of mine and then she gives me money every month to pay it off. Is there anything dodgy about doing that? I'm guessing not but seeing as she's in a bit of bother already I want to be sure. Secondly, what's the best way for her to build back up her credit rating? Is she better off paying off all of the credit cards (eg transferring all of it onto mine), or is she better off leaving some of it on a credit card of her own and paying it every month? I'm sure I heard that it looks good to have a credit card that you are paying off. The idea is basically that I'll put the balance onto my card until she can apply for a new one of her own, at which point we'll transfer it back and she'll then take care of the debt again. I may have explained that badly. I'm pretty good at managing my money so I've never really had to deal with stuff like this. There would be no problem in taking on your OH's credit card liability at all. As long as you are fully aware that the debt becomes yours and if you have a falling out/break up and she refuses to pay then you are stuck with the debt. On the second point, you mention that her credit rating has been hit hard? How do you know this? I only ask as there is no such thing as an all encompassing credit rating, each lender has different metrics and its more based on history than any 'score' out of 100 or 1000. Assuming your OH hasn't missed any payments then there shouldn't be anything on her credit report that would flag up as being of any concern. She is no doubt in the dog house with her current bankers for lying but its unlikely that this information would have been logged with the 3 main credit agencies unless there was missed payments / unauthorised excesses. It may be worth her applying for 1 or 2 credit cards from other banks to see if she gets accepted before you take on the debt. I'd guess that its only her current bankers who would refuse her credit at the moment. In general terms, how to build up a good credit history? Make sure you are on the voters roll at the correct address and make sure you pay your credit card bills / mobile phone bills on time and don't go over any pre approved limits in your account. Its all about history and showing you can be trusted to make payments on time. 1 Link to comment Share on other sites More sharing options...
Stevo985 Posted April 16, 2018 VT Supporter Share Posted April 16, 2018 10 hours ago, markavfc40 said: There is nothing dodgy about transferring a balance from a card that is not in your name. In terms of building up her credit rating again then the best way to do this would be to have credit in her name. If she is paying interest on her current credit card balance though then if possible I would transfer all that on to a 0% card in your name. She should get another credit card, even one with a high interest rate which could the case due to the hit on her credit rating, and then use it regularly just for day to day spending but ensure she pays it off in full every month and this will help her again build up a good credit history/rating. In this day and age with so many 0% balance transfer deals lasting 2 -3 years in many cases and also fee free there is no reason to be paying interest on credit card balances so I'd be focusing on ensuring you get her balance transferred on to a 0% card in your name asap and then getting her another credit card and rebuilding her credit rating even it it means waiting a couple of months to do so. Honestly mate, I've told her this a dozen times or more. She kept saying she wasn't paying interest and I'd tell her to make sure because you can completely avoid paying it these days. Turns out she's been paying it for months, probably years, on her one card. 1 Link to comment Share on other sites More sharing options...
Stevo985 Posted April 16, 2018 VT Supporter Share Posted April 16, 2018 10 hours ago, Xela said: There would be no problem in taking on your OH's credit card liability at all. As long as you are fully aware that the debt becomes yours and if you have a falling out/break up and she refuses to pay then you are stuck with the debt. On the second point, you mention that her credit rating has been hit hard? How do you know this? I only ask as there is no such thing as an all encompassing credit rating, each lender has different metrics and its more based on history than any 'score' out of 100 or 1000. Assuming your OH hasn't missed any payments then there shouldn't be anything on her credit report that would flag up as being of any concern. She is no doubt in the dog house with her current bankers for lying but its unlikely that this information would have been logged with the 3 main credit agencies unless there was missed payments / unauthorised excesses. It may be worth her applying for 1 or 2 credit cards from other banks to see if she gets accepted before you take on the debt. I'd guess that its only her current bankers who would refuse her credit at the moment. In general terms, how to build up a good credit history? Make sure you are on the voters roll at the correct address and make sure you pay your credit card bills / mobile phone bills on time and don't go over any pre approved limits in your account. Its all about history and showing you can be trusted to make payments on time. She tells me that since the conversation with the bank she's done one of them Experian credit score things and she's gone from "Very Good" to "Fair". She's also been on Money Supermarket and searched for a credit card. When you do this it gives you your probability of getting approved and since that conversation they've all plummeted. She's never missed a payment on anything so it shouldn't have been hit that way. The only thing that might affect her is earlier in the year she tried to apply for a couple of cards to transfer the balance of both these cards onto and got rejected. Maybe that was because of the address thing being wrong, but would that have hit her credit rating? Isn't it bad to get rejected for credit? Link to comment Share on other sites More sharing options...
blandy Posted April 16, 2018 Moderator Share Posted April 16, 2018 12 hours ago, Xela said: It may be worth her applying for 1 or 2 credit cards from other banks to see if she gets accepted before you take on the debt. I'd guess that its only her current bankers who would refuse her credit at the moment. Don't they ask "have you ever been refused...." on the application forms. I think they usually do. IF so, she might have a bit of an issue. Also, disclaimer - Don't take financial advice from a football messageboard as necessarily of sound basis. Link to comment Share on other sites More sharing options...
markavfc40 Posted April 16, 2018 Share Posted April 16, 2018 3 hours ago, Stevo985 said: Honestly mate, I've told her this a dozen times or more. She kept saying she wasn't paying interest and I'd tell her to make sure because you can completely avoid paying it these days. Turns out she's been paying it for months, probably years, on her one card. I can imagine how pissed off you were mate as there is simply no need to have to do this. Dread to think how much interest she has paid if her balance is 5k+. Probably best not to think about it. Hopefully lesson learned and if her credit rating is still showing as fair then it is something she can quickly build up again. Link to comment Share on other sites More sharing options...
Stevo985 Posted April 16, 2018 VT Supporter Share Posted April 16, 2018 1 hour ago, blandy said: Don't they ask "have you ever been refused...." on the application forms. I think they usually do. IF so, she might have a bit of an issue. Yes they do, apparently. Link to comment Share on other sites More sharing options...
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