SIPP Newbie Investing
Posted: March 5th, 2024, 8:53 pm
Dear Forum
I'm completely new to investing, never bought any shares until I created a SIPP with Vanguard last week and transferred into it an old workplace pension with Aegon that hadn't preformed very well at all. Value £5.4k
I was intending to invest in a global tracker or a S&P 500 tracker as this is where the growth seems to be. Having looked in detail at these trackers and how much they've increased in value, principally due to the big 7 tech companies, I couldn't bring myself to do it. My thinking being that I've missed the boat here. Also, with the British pound being so weak at the moment and these trackers being denominated in USD, you don't get that much bang for your pounds.
So, and I'll probably get ridiculed for this, I dumped the entire lot into a FTSE UK all share tracker. My thinking being that it's a relatively cheap index with a reasonable dividend return and I'm not subject to the exchange rate risk.
Now I'm invested in it I'm paying more attention to the stock market and reading reports about how the London stock exchange doesn't have a bright future with companies moving their listing to the US and not many, if any, new companies choosing to list on the London stock exchange.
Have I made a mistake here and should I switch to a global or US tracker before I invest more?
Thank you
I'm completely new to investing, never bought any shares until I created a SIPP with Vanguard last week and transferred into it an old workplace pension with Aegon that hadn't preformed very well at all. Value £5.4k
I was intending to invest in a global tracker or a S&P 500 tracker as this is where the growth seems to be. Having looked in detail at these trackers and how much they've increased in value, principally due to the big 7 tech companies, I couldn't bring myself to do it. My thinking being that I've missed the boat here. Also, with the British pound being so weak at the moment and these trackers being denominated in USD, you don't get that much bang for your pounds.
So, and I'll probably get ridiculed for this, I dumped the entire lot into a FTSE UK all share tracker. My thinking being that it's a relatively cheap index with a reasonable dividend return and I'm not subject to the exchange rate risk.
Now I'm invested in it I'm paying more attention to the stock market and reading reports about how the London stock exchange doesn't have a bright future with companies moving their listing to the US and not many, if any, new companies choosing to list on the London stock exchange.
Have I made a mistake here and should I switch to a global or US tracker before I invest more?
Thank you