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PaperclipPerfector  2mo ago (text post)   2864 thread views

Small-Scale Question Sunday for February 9, 2025

Do you have a dumb question that you're kind of embarrassed to ask in the main thread? Is there something you're just not sure about?

This is your opportunity to ask questions. No question too simple or too silly.

Culture war topics are accepted, and proposals for a better intro post are appreciated.

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A request for financial advice:

For the majority of my career, I've made such a small pittance in Western terms that I had no strong impetus or incentive to save any of it.

While the UK is certainly not as wealthy as the US, and doctor's wages are comparatively meager (and have been devalued considerably by inflation), I have a respectable sum already in my bank account. Part of this is that I simply don't have a life outside of work, and couldn't spend the money if I wanted to.

I'd like to invest the majority of it, around 10k GBP. My risk appetite is decent, but I also think the market is more efficient than I am in most regards (when I had forewarning that Nvidia would skyrocket, I didn't have any money to bet with). I don't want to see it get eaten away by inflation.

I believe the default course of action would be to buy index or mutual funds. I've been eyeing the S&P500.

I do intend to hold on to a few thousand GBP for expenses like buying a second hand car, expensive exams and the like. In the longer term, I'd need ~40k for a mortgage, assuming I choose to continue working and training in the NHS when my contract is up.

When your personal contributions are greater than your investment gains: total stock market index funds. Doesn't matter which, just pick one.

When your investment gains are greater than your personal contributions: diversify from index funds into a mix following the "efficient frontier". Here's a calculator, though the free version is capped at 10 years of historical records.

Thank you! I'll try and make good use of it.

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