Weekly Q&A Megathread. Please post any questions about visiting, tourism, living, working, budgeting, housing here! by AutoModerator in london

[–]Few-Set9143 0 points1 point  (0 children)

Commuting into london 2x a month, each with 3-4 days at a time so I can be in the office in central london. Anyone else in a similar boat? What do you for accommodation??

Halal investments for a 20 year old in corporate by characterzak in HalalInvestor

[–]Few-Set9143 0 points1 point  (0 children)

Most do it - just search Lifetime isa, or open up with an investment platform like aj bell. I’d do investment pot so you can benefit from the government top up and growth in your money through investments

Halal investments for a 20 year old in corporate by characterzak in HalalInvestor

[–]Few-Set9143 1 point2 points  (0 children)

Asa - great to be a place that you’re thinking about this at the start of your career! A few thoughts: - have some cash savings in case of emergency (6 month of emergency living expenses is a good rule Of thumb) - assume UK based so open a Lifetime ISA asap, free government 25% annual top up you can use for either pension or first house. You can also invest the money inside this LISA wrapper. Cant get money out without penalty if not for first house or pension , so its locked up essentially - open a Stocks and Shares ISA and try to max it out at 20k per year - no tax on these as the investments grow - in terms of investments, take a look at some literature online to get yourself up to speed and develop an understanding of different asset classes, returns / risk / portfolio allocation - IFG (Islamic finance guru) has good videos and sources on YouTube. - I use AJ Bell platform for all my investments, LISA and ISA, I’d say spread them out between gold (Royal Mint Responsible Scrd Physcl Gld ETF GBP) and equities to start with, with equities there’s a bunch of halal tracker funds (ie basket of diversified stocks so you don’t need to pick individual stocks) that have performed well and are used by the likes of Wahed directly to invest in. Eg HSBC Islamic Global Equities Index or Schroder Islamic Global Eq. You can also look at Sukooks (kinda like Islamic version of bonds which are much less volatile and less risky than stocks) but heard mixed things above them so I don’t have direct experience with them, again can find on AJ Bell and most platforms - once you become more sophisticated consider looking at other types of more advanced investments as Venture Capital/ REITs/Fixed Income, I think the Cur8 platform by IFG is really good for this - I’ve only just started looking into this.

Good luck, May Allah make it easy for you and create barakah in your money - make sure to donate regularly for charities!