Any experts on S&S ISAs

[Imtoooldforallthis]

This is probably a really stupid question, but looking into getting a stocks and shares isa. ive been listening to the news about stocks dropping to an all time low, so does this mean its a good time to buy? Would I get mire stocks for my money? Looking at buying through my bank.

Yes you will get more for your money. However you never know when it will stop going down so be prepared for a bumpy ride for a while. Don’t restrict yourself to your bank. Other platforms might be cheaper.

It’s illegal to provide investment advice, but « buying the dip » is indeed a known strategy, and with the crash last week, there are probably many bargains out there. But you got to be sure the market has bottomed and that your picks will perk up down the line

Strange times at the moment. People I know would usually be piling in to buy after such a big drop but instead they’re waiting to see what happens next.

Do you have a time horizon in mind?

I was advised 5 years

5 years is the minimum.

Amateur investors are generally advised not to try and time the market. Either just buy when you want and hold for a long time, or do what’s called pound cost averaging- drip feed your money in in regular amounts so you are buying more when the price is lower and fewer when it is higher (this reduces the risk but obviously also reduces potential gains if prices rise). But it’s such a strange time at the moment I think many people are just waiting to see what happens next. It’s definitely possible that there are still big drops to come and that gains will come slowly given how low confidence is. OTOH maybe everything will change tomorrow.

That’s obviously not much help. FWIW I usually put my money in on day 1’of the new tax year but I haven’t done it today.

@Abenny same, just sitting and waiting.

I’m a bargain hunter, and have always bought on the dip, so I bought a bit yesterday for both DS and myself. I’m a long term investor though, so have time to recoup any losses. I’m getting older now, so look at the blue chips that pay good dividends, and have started switching from accumulation to income funds.