Happy Sunday guys! If you want to start using Trading 212, then be sure to click on the following link and get 1 FREE share valued up to £100: trading212.com/promocodes/MITCH
I'm 54 and my wife and I are VERY worried about our future, gas and food prices rising daily. We have had our savings dwindle with the cost of living into the stratosphere, and we are finding it impossible to replace them. We can get by, but can't seem to get ahead. My condolences to anyone retiring in this crisis, 30 years nonstop just for a crooked system to take all you worked for...
I feel your pain mate, as a fellow retiree, I’d suggest you look into passive index fund investing and learn some more. For me, I had my share of ups and downs when I first started looking for a consistent passive income so I hired an expert advisor for aid, and following her advice, I poured $30k in value stocks and digital assets, Up to 200k so far and pretty sure I'm ready for whatever comes.
@@KimberlyMargaret The crazy part is that those advisors are probably outperforming the market and raising good returns but some are charging fees over fees that drain your portfolio. Is this the case with yours too?
Quick Question regarding the Tax side of things - say I have a portfolio that surpasses the £20,000 annual tax-free threshold. Anything above this is tax deductible. Does the Government take this tax directly from the Trading212 account, or do you have to do this manually at the end of the financial year? Probably a silly question, but I'm a newbie when it comes to this, and have not seen anyone discuss how the tax is actually paid!
Hey, the £20,000 is an allowance on deposits, so you can only invest a maximum of £20k per year across your ISA's. Any gains from capital appreciation or dividends within this account (regardless of value) are completely tax free.
That’s what I was wondering, so I’m almost set up but what about the w-8ben form? Would I need to sign this if I don’t intend to deposit more than £20k a year
I'm glad i'm not the only one confused about the tax side of things. This has literally been the only thing putting me off buying stocks, because its technically a form of income, I was wondering, do you have to delare it as some form of self employment? Do you have to fill out a self tax form? If its literally as simple as invest money, watch it go up/down collect if positive, im all in.
And what is the situation when the specific instrument's value goes down ? I can lose my money too right? IT is all depends on how the company does performance in long term. IS that true guys?
Great to hear! The first book I ever read on investing was Tony Robbins Money Master The Game, but if you're after a slightly shorter read i'd pick up The Little Book Of Common Sense Investing by John Bogle, or read both and you'll know 90% of all you ever really need to know about investing :)
I've already put 20k into this years ISA. Is there a way I can open an account with 212 and claim the free share? I can't see any option to transfer an existing ISA in?? So confusing!!
Hello thank you very much for this video, I have just turned 18 and looking to invest 100 pounds each week into S&P 500, I’ll keep you updated on how it goes ext once again thanks for the video! :)
So I clicked on the link and its giving me a choice between a stocks ISA - Invest tax-free in a zero-commision Stocks ISA and Cash ISA earn 5.2% interest on your savings. I thought they we both combined into one account? Which one do I choose? Also do you know if theres a way to tranfer money from your trust fund? Im turning 18 on Friday and want to transfer my trust fund to an ISA account which I will make on my birthday.
Hey Simon, the cash isa and stocks isa are two separate accounts, but they’re classified as flexible ISAs so you can freely transfer between without effecting your allowance - it is all linked together in the app though so you can see it all in one place. In terms of which one you choose, that’d depend on what you need from the accounts. If you’re looking to invest in stocks, funds etc then the Stocks ISA can do that. Whereas the Cash ISA is just for interest on cash savings, but you can’t invest in assets directly from the cash ISA, you’ll need to transfer to the stocks ISA to do this. In terms of the trust fund I’m not sure on this point, apologies!
It’s two different types of ISA, ie you can invest into a stock and shares ISA and then a Lifetime ISA in the same tax year, but the 20k limit is still in place across both. So if you were to max out your lifetime ISA allowance (£4000) then you stocks and shares ISA limit would decrease from £20k to £16k
The budget announcement made end of last year mentioned that from April 2024 you could invest in more than 1 platform of the same ISA account in the same tax year@@MitchShoesmith
1. No more single Isa limit Savers will be able to open and pay into multiple Isas of the same type annually. That will replace current rules that only let you put money into one of each type of Isa every tax year. The change will enable savers to easily move between different providers and is intended to encourage competition. With cash Isas still enjoying record rates of 5% AER or more, this is good news for savers searching for higher returns.
There are no additional fees, only an FX fee for foreign stock charged at 0.15%. I believe eToro operates with a different model, overnight fees are typically applicable to CFDs as far as I’m aware. There is no overnight fee for holding shares on T212 via the stocks ISA or invest account.
@@MitchShoesmith thx for the reply 🙏 yes CFDs I was aware re a fee- there is no fee for buying a UK share though? The UK fee is a tax (0.5%) I thought we had to pay. Also iShares funds that track gold for example eg overnight fees - I thought they had fees but I can't see where this info is on 212.
You can literally invest as little as £1 if you wanted. When you say how long does it take, it depends what your goal is, or the outcome you’re looking for…
How is it possible that my withdrawal since the 18th of March hasn't come in till today ? And nobody can give me concrete solution rather than "we will come back to you shortly" I need my money, its Friday already
Really annoying that you can’t use the app if you’re on the US App Store. I’m from the UK, pay tax, here, but also work in the US. Just dumped 50k into start and then found out I can’t manage anything on the cell phone. Feckin annoying. What happened to our global reach 🤷🏻♂️
Hi I have an investment isa, I’m winding when the stock goes high so I pull my money out of just leave it thank you I’m new at this game would love some info
Hey! I’ve not used it yet but definitely could put something together on it. I know it’s got the TradingView integration on it which is a super useful feature for those looking at more technical analysis
Good question, I’m not 100% sure on the answer to that. I would assume not as I think the money would come out of your “free funds” and be a pending buy order. Let me know if you find out though!
How is it possible that my withdrawal since the 18th of March hasn't come in till today ? And nobody can give me concrete solution rather than "we will come back to you shortly" I need my money, its Friday already
Hi, I created an account and entered your code but it doesn’t show in my funds. How do I find the promo £100 to spend. Is it stored in a different area and am I just being a bit dumb?
Hey Alex, once you deposit £1 into the account the free share should appear, if not click on the three dashes at the bottom right hand side and there is an option “promo code” if you enter “MITCH” it should come through
@@alexchancock yeah it should work then, may just take a day or two to show up in your account - market is closed right now too so it’ll likely be Monday when the next orders are filled
Correct, you would receive the equivalent to the companies share price multiplied by the number of shares you own (which is in theory what you have described above when the stock prices rises above that of your average purchase price)
Hey, any shares sold (fractional or full) will need to be withdrawn manually to your bank account - takes about 3 business days to get the money in your account
Hey! If you click into the stock you’re looking at, there is a price alerts feature which you can click on and set your specified price target to be alerted.
It’s to lower your withholding tax on dividends for US stocks from 30% to 15%, so definitely applicable. Would reach out to Trading 212 support if you’re unsure.
Hey great video I'm just wondering is there anyway a 17yr old can start before their 18? Without the hassle of their parents opening an account in their name and them paying the CGT when they do their taxes?
Hey, I invest in the Vanguard VUSA S&P500 ETF, it does pay a dividend but the quarterly yield is only 1.14% currently so it’s not huge if dividends are your main priority
How is it possible that my withdrawal since the 18th of March hasn't come in till today ? And nobody can give me concrete solution rather than "we will come back to you shortly" I need my money, its Friday already
@@thomasbalraj602 you should be able to deposit funds once you’re all set up… I’d recommend contacting their support team if it’s not working for some reason
@@MitchShoesmiththanks so much I tried even selling it but no it’s not really going through Maybe you could guide on how to go about it reflecting on my free funds Thanks
@@MitchShoesmith www.gov.uk/government/publications/tax-free-savings-newsletter-10/tax-free-savings-newsletter-10-november-2023 This was what I could find
Just found something: www.forbes.com/uk/advisor/investing/how-many-isas-can-i-have/#:~:text=Alternatively%2C%20you%20could%20use%20your,in%20the%20same%20tax%20year.
@@deavonturenvanolivia6095 hey, unfortunately you can’t open an account until your 18, but I admire you thinking about it at your age! The only thing you could do is get your parents to open a Junior ISA for you but they would have to contribute to it on your behalf I believe.
@@MitchShoesmith that’s what I thought but I’ve just started and didn’t want to deposit without knowing about that. Any tips for me was looking into the vanguard S&P 500
How is it possible that my withdrawal since the 18th of March hasn't come in till today ? And nobody can give me concrete solution rather than "we will come back to you shortly" I need my money, its Friday already
Hi Mitch this is my first day and started my account just wandering when I click on portfolio it asks me to put the account number with old broker what does that mean😊
People need to remember this is a gamble! If you really need to make money stay away. If you have spare money that you do not mind losing or waiting for many years to get them back with some profit then go ahead.
I have maxed out my 20k for this year with a lump sum. What do people normally do if they want to invest more? Do in they just use the taxable Invest account and accept the taxes? Or leave the cassh sitting there uninvested gaining 5.2%.
Can't say I've been in that position but yes I suspect so, once you've made the most of your tax free options, it'll just be a case of looking at your other options (whilst minimising your tax liability!) like perhaps adding more to a pension could be one viable option
It just means the order hasn’t been fulfilled, this is likely because the market is closed or an order block hasn’t been filled yet which is more typical for ETFs
How is it possible that my withdrawal since the 18th of March hasn't come in till today ? And nobody can give me concrete solution rather than "we will come back to you shortly" I need my money, its Friday already
You’ll need to deposit £1 into the account, if still nothing appears try entering the promo code MITCH, you can do this by clicking the three dashes at the bottom right and there is an option there to enter it - hopefully this should work!
@@MitchShoesmith is it because I may have had an account on the app in the past? I added some funds but still don't see anything in free funds apart from what I added. I tried entering the promo code through the app and it said I've already used the code
I mean who knows, they’re definitely facing into some head winds with lower growth forecasts but for me I think the negative sentiment is overdone. Won’t be long before we’re trading at PE multiples that can’t be ignored.
My understanding is because the QMMF (qualifying money market fund) is treated as an investment and not as money held with a bank it's not covered by the FSCS. Having said that,, my understanding of how Trading 212 operate is that your investments are segregated to that of the companies assets, so if Trading 212 were to become insolvent, your assets would be protected and not available to Trading 212 creditors.
@@fortniteguyyyy an ISA is an individual savings account, there are different types but a stocks and shares ISA is a tax free account for people who are investing for the long term.
@@MitchShoesmith thanks for the reply. Never invested before and am quite fearful tbh. Currently have it set to invest because in the app it stated no commission fees or taxes. Can I only lose money that I deposit in the app?