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@buzzard no worries. hopefully it gets you sorted. any other q's feel free to ask!

@buzzard So looking at what you have. I see the following: 2 overdrafts 2 Credit cards 3 loans (one ending in Nov) Income 3850 outgoings (before payments) 1915. Payments ~1k. Leaves excess of 935 My suggestion here is as follows: Loan 2 is repaid by end Nov. After that it frees up an...

@triphip2 on assumption you reinvested any interest (and without tax payable) a 4% annual return would net you 106,791 (excluding your 45k) after 31 years. 5.75% gross annual return, deducting 33% tax each year would then net you 100K - after tax and excluding your initial 45K.

@peter1000 No it's not. And yes I would suggest people borrow at 0% and earn 4% (eg with trade Republic). It's free money for little work. The only downside is that people need the discipline not to spend the money.

@peter1000 No you don't need to pay this off as quick as possible if the interest is 0. You should save into an interest bearing account...and earn interest on the free loan. Then near the end of the 12 months interest free period, use the savings to pay off the card debt.

@brightman so theres 500 stocks in the S&P 500. Buying them once (or many times) is time consuming and costly. to properly mirror the index you need to know the weightings and to change your holdings as the rebalances happen (which will cause tax events (tax on gains, losses to carry over)...

@zachariahs semi-D every day of the week if you can afford it. offstreet parking will save you on car insurance. House insurance should be somewhat lower too. only 1 neighbour to deal with. rear access to the garden.

@brightman in that case, why not set up a PIE in T212 for all the companies you want to invest in. Put in your 300 a month and it buys a proportionate share in each company. Rather than buying a few each month, buy a little of everything. it'll smooth out pricing as well over the long term...

@chris07ss don't talk crazy

@gardenlady I for one am appalled at how dividends are taxed. Dividend income is already taxed at company level but when i get it, its taxed again at marginal rate of tax. compare that to interest income which is taxed at 33%.

@soikeonhanh thats not true. Under SEPA legislation you can request a refund of any SEPA Direct Debit without reason inside 13 weeks. Its a year(AFIK) if fraud is involved. Tell the bank you want the DD reversed under SEPA legislation and the Direct Debit cancelled.

@frogger94 Lotto winnings are tax free. Taking money from this pot is tax free Any earnings on this pot are taxable as normal (eg interest or investment income).

@renewright if you had 10m then thats 400k a year withdrawn from the pot. Tax free. i think it really depends on the amount you win and what your average outgoings are.