Money Talk

Hey Reader,

I left the house at 5.55pm yesterday and it was light! Spring is coming people!

I don't know about you, but I've really struggled this with winter this year.

Usually I'm absolutely fine, but boy do I need some sunshine ☀️

According to the latest economic growth data that was released yesterday, we're now officially in a recession for the first time since 2020.

Before you panic, its expected to be pretty short, with some economists saying we're already out of it as fast as we got in.

You can't say it hasn't been coming.

If anything, since inflation kicked off in the UK well over a year ago, we've done pretty well to dodge it.

So, today I want to talk about something very important that I'm getting asked a lot about which has a direct impact on beating inflation.

That's picking an investing app and how picking the wrong one can actually end up costing you thousands!

How I choose an investing platform 📈

In my opinion, there's 5 main criteria you need to go through when picking an investing platform in the UK.

Go through these like you would a standard box ticking exercise.

You're looking for:

1. Low fees
2. Stocks and Shares ISA or Self Invested Personal Pension
3. Access to a wide range of investments
4. Easy to use and beginner friendly
5. Has solid customer reviews and TrustPilot ratings

Essentially you're looking for one that ticks all these boxes or at a minimum 4 out 5.

Lucky for you there's quite a few that do tick these boxes but finding them can be tough.

Don't worry I've got your back.

The impact of investing fees 💷

If you invest £5,000 a year for your retirement 30 years away, and the platforms total costs are 1.5% with an average return of 6% a year before fees, your savings pot could grow to £314,167.

But, if the platform fees were lower, at 1.0% , you would have made £346,746 — a £32,579 difference shown on the chart.

That's just below the UK gross (before tax) average yearly salary!!

As a result of the 0.5 percentage-point higher annual charge, 9.4% of your savings has disappeared in extra costs.

The Financial Times have a free calculator you can muck about with here.

BUT that difference is actually nuts so that's why it's SO important to get the lowest possible fees with the best possible investments.

Spending some time on this will save you a fortune!

So, who is worth your time right now? ✅

Your DIY Option

Trading 212 are commission free and have access to a wide range of investments from individual stocks to funds. Their mobile app is also 1st class and very easy to use.

Get a FREE SHARE worth up to £100 when you use the below link or the code GAINS on sign up.

👉🏼 Check out Trading 212 here 👈🏼

(T&C's Apply - Capital at risk when you invest)

Your DIY & Expert Managed Option

InvestEngine focus on fund investing, have no platform fees (fund fees still apply - but they’re small) and they have a managed option where their experts work with you alongside a DIY option if you prefer to select funds yourself.

Get up to a £50 bonus when you deposit £100 with Up the Gains.

👉🏼 Check out InvestEngine here 👈🏼

(T&C's Apply - Capital at risk when you invest)

I'm a big fan of both of these platforms, but I always encourage you to do your own research!

Go through their websites, have a look online and then when you're ready, get going!

Just don't forget to use those links to grab those exclusive offers!

I hope you have a cracking weekend 💚

Cheers,

Sammie

P.S. "I have not failed. I’ve just found 10,000 ways that won’t work" - Thomas A. Edison