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Caitlin, 55

Caitlin loves to travel and lives for today, and would love to open her own care home one day. But although she’s quite independent when it comes to managing her money, she knows there’s still a lot to learn to balance her short- and long-term goals. 

My relationship with money: "Patchy"

"It comes and goes. Some years we spend it on a holiday and some we try and save. If I want to go shopping I go shopping. Just try to go with the flow. I live for the day, really."


Financial advisors... are they all pompous?


Getting smart with money when pregnant


The retirement income question


My biggest money question

I can afford to put about £300 a month into savings, so what would be the best way to invest it and what could it turn into in about 15 years?

 

 

Answer by Helena Wardle, Sterling & Law

If you have a long term in mind, such as 15 years then saving it into investments should be more appropriate for you. It may help to understand some basic principles:

If you are investing the money into stocks and shares this investment needs to be long term and will go up and down in value. Investors normally feel the ‘down’ periods more but it is typically only a loss if you take it out! You will see some good and some bad years so sticking with it is normally the best plan...


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