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Photo of client Andrew

Andrew's story

Andrew is retired and continues to invest monthly into his HL ISA to benefit from compound growth.

Please note: This case study is not personal advice. If you’re not sure what’s best for your situation, ask for financial advice.

"I worked in the charity sector across all my working life, mostly by accident rather than design. Being motivated by values and ideals rather than the need for a vocation. When I was working, I trained as a charity accountant and worked as the Finance Director for a large charity eventually becoming CEO."

Starting your investment journey at 25

"If you’re in your mid-20s, my top tip would be to start the habit of saving and investing now. It doesn't have to be a large amount – even £25 a month is a good start. There's no magic number; just the act of saving will build momentum and keep you motivated. Consider using a platform like HL for your savings, where you can park your money in cash or invest in a fund. I personally like a simplified approach with 3 or 4 "jam jars" for different purposes, like an emergency fund, your retirement fund, and investing to make your money work harder. Don't get too complicated; it's about getting started and saving bit by bit."

Keys to successful investing

"Success in investing is never guaranteed. Think long term, ride out the market's ups and downs, and remember that recovery should eventually follow downturns."

Monthly contributions and pound cost averaging

"I’ve found benefit in making monthly contributions, practicing ‘pound cost averaging’. It involves regularly investing in your funds rather than putting in a lump sum. Even in retirement, I continue making small monthly contributions to my ISA with HL. It's a habit I can't let go of, and I also enjoy a bit of a monthly go with NS&I premium bonds.

I manage four accounts with HL, a Stocks and Shares ISA, a SIPP, a SIPP Income Drawdown and a Fund and Share Account. I draw my income as needed, reinvesting dividends when possible."

Managing investments

"I aim to keep my investment to usually under a dozen. I maintain a monthly spreadsheet to track stock and cash values, creating bar graphs for a visual overview. I try not to constantly check my funds, avoiding unnecessary anxiety or excitement. Deciding when to part with a fund is tricky, but I wait for that gut feeling of ‘I’ve had enough’ before making any moves."

What I like about HL's service

"HL’s service stands out for me because of their patience, knowledge, reliability, and efficiency. Being able to reach someone when needed is crucial, and HL excels in these aspects."

Transferring old accounts to HL

"In anticipation of retirement in 2018, I transferred a pension plan in 2017. Consolidating accounts made monitoring easier, and HL offered access to a broader range of assets and fund managers."

Choosing my retirement options

"I started considering my retirement options and got advice a couple of years before I planned to retire. HL provided me with invaluable advice, starting from scratch to understand my objectives and risk tolerance, resulting in a recommended portfolio that aligned with my retirement goals."