Inherited a sum 5 years ago while poor as a church mouse - no concept of what to do with it so plonked it in with the first FA I met that didn’t make my skin crawl.
Its split between 2 ISAs, 2 pensions and a GIA that is feeding the ISAs until it’s gone.
Emergency fund is in premium bonds and I kept a chunk in cash. This was April 2020 and terrifying.
As time went on I could see that the investments were doing rather well as I’d lucked out on timing. I put a toe in the water with Trading 212 and gradually got what I think is the hang of it. I was fiddling with pocket money numbers to start with but now all the cash has been split between Vanguard and Trading 212. The Vanguard account is 100% in the FTSE global all cap Acc. Trading 212 is in the S&P.
I don’t know if I’ve just learned enough to be dangerous. I could afford for all of what’s in my own sandpits to blow up so I’ve been too risky, I realise this, but I’d not do that with the lions share they currently charge me to do no work with. I’m fully comfortable with ups and downs now and know not to panic and withdraw when crap happens like Ukraine. I understand that a globally distributed fund is going to do better than trying to play the market and even if I just dumped it all in a 60:40 Vanguard Lifestrategy I think it would do better over time without the FA fees .
I’m 50 and not planning on retiring - once that gets closer I would want help to give me peace of mind that I’m not going to run out with my draw down rate but for the next 15 years I’m just doing accumulation- what help are they to me?
Apart from anything else I’ve been given a new guy to work with that’s not my cup of tea and speaks to me for an hour a year tops.
I’m aware I may be Dunning Kruggering my way into poverty…?
any advice?