Re: help please!
Originally Posted by kim1961
Do you think investing long term is a good idea now? Are rates likely to rise ...I suppose its a guessing game isnt it?
So far as interest rates are concerned, by which I mean BoE bank rate, there's not much guessing involved, they can't
go down anymore 'cos they are about zero now
The other definite is that this recession will not
be like any other in living memory, which means the recover will not
be quick, we are in for a long period of gradual growth improvement and it will be a good many years, maybe even a decade, before interest rates are at 5 or 6 or 7%
I would also avoid the IFA route as well, they will ask you hundreds of questions about your income, lifestyle, risk profile, and much more, at the end they will recommend investments which either are tied (ie those of his/her employer) or his/her 'best guess' if they are truly 'independant' and you will pay either way
There is an old saying on most of the finance chat forums which is DYOR
(Do Your Own Research) and IMO opinion that is the best advice I can give you. Everything is on the net now, it just takes a little time and a calculator to work it out.
Finally, yes the stock market is a dangerous place ( I could write a book
) but you might want to at least think
about a FTSE100 company that has been around for a 100 years or more, pays a good dividend, and makes something everybody wants in good times and bad. Obviously no suggestions from me
Good luck with your task and hope you daughter does well