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Own It!
Are you young and feeling left behind financially? It doesn’t have to be this way. The UK’s leading millennial money expert, Iona Bain, is on a mission to help young people own their futures, once and for all.
Low wages, high house prices, zero reward for saving and the catastrophic fallout from Covid-19... young people have had a rough ride. But we have a choice. We can sleepwalk into a poorer future – or we can transform our prospects by embracing the power of investing.
Iona is here to demystify savings, pensions and investing for a new generation. Whether it's robo-advisers or auto-enrolment, green investing or forex on Instagram, Iona will break down what it all means so YOU can take charge of your long-term finances.
In this fun, wise and incredibly helpful book, Iona explains why investing matters. She also shows you how to get your basic finances right, save for your first home and make your pension socially responsible. You'll find out all about the rewards and risks of online investing, from sexy stockpicking apps to digital wealth managers, and learn how to manage your long-term finances so you can avoid major mistakes and achieve your goals.
Investing often gets a bad rep thanks to the Wolf of Wall Street, social media scams and high-rolling money men. In fact, investing has never been more accessible, more interesting – and more important. It’s the single biggest thing that we can do to change our lives, and society, for the better.
So what are you waiting for? Let’s start owning it!
Low wages, high house prices, zero reward for saving and the catastrophic fallout from Covid-19... young people have had a rough ride. But we have a choice. We can sleepwalk into a poorer future – or we can transform our prospects by embracing the power of investing.
Iona is here to demystify savings, pensions and investing for a new generation. Whether it's robo-advisers or auto-enrolment, green investing or forex on Instagram, Iona will break down what it all means so YOU can take charge of your long-term finances.
In this fun, wise and incredibly helpful book, Iona explains why investing matters. She also shows you how to get your basic finances right, save for your first home and make your pension socially responsible. You'll find out all about the rewards and risks of online investing, from sexy stockpicking apps to digital wealth managers, and learn how to manage your long-term finances so you can avoid major mistakes and achieve your goals.
Investing often gets a bad rep thanks to the Wolf of Wall Street, social media scams and high-rolling money men. In fact, investing has never been more accessible, more interesting – and more important. It’s the single biggest thing that we can do to change our lives, and society, for the better.
So what are you waiting for? Let’s start owning it!
- GenresFinance
Paperback
Published March 16, 2021
6 people are currently reading
64 people want to read
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Displaying 1 - 5 of 5 reviews
March 16, 2021
Own It! by Iona Bain is a finance book targeted at younger generations attempting and remove the smokescreen shrouding pensions, mortgages, savings, and investing and make it less intimidating. Bain explains everything in laymen’s terms which makes the book suitable for even the most inexperienced reader and Own It! attempts to encourage and nurture the reader’s interest in taking control of their financial situation. From dipping their toes into investing to buying a house, Bain explains the pros and cons (as well as loopholes and things to avoid) for just about everything!
The whole book is written in a very modern and accessible tone. Far from seeming like she’s ‘getting down with the kids’ it’s a reminder that this book is written by someone young, encountering these issues and sharing what she’s learnt. These things can be scary and feel overwhelming, especially if you find yourself in a tight situation financially but Bain does a great job and making the reader not just feel comfortable but, quite suitably, feel as if they can own their finances! She also tells the reader to skip chapters if they’re not relevant (i.e. about house buying if you’ve already bought a house) which I loved because it gives the reader the agency to dip in and out as they please.
My biggest takeaway from this book is a piece of advice the author gives quite early on: save for anything you want in the next 5 years, invest for goals further than 5 years away. Simple tidbits like this are really want makes this book great – I know real life is complicated and sometimes difficult to plan for, but I think having these principles in mind could really help someone understand how investing works and stop them jumping into anything naively or prematurely.
By tapping in and recognising every cynical thought readers have had about baby boomers having it better than us, the author again recognises so many common anxieties and ideas younger readers may have had about finances. The whole thing is very optimistic and Bain does a great job of reassuring the reader while beaming positivity in a helpful way. She acknowledges that everyone is in a different situation financially and tries to cater for all.
All in all I really loved this book for what it was trying to achieve. My only criticism would probably be that if anything it didn’t go into enough detail – sometimes I found myself scratching my head even after things had been explained and did my own research to supplement my understanding from the book. That said, that was probably the author’s intentions – this isn’t supposed to be the be all and end all of financial advice, just a way for readers to test the water and get a better understanding!
Packed with modern references, an accessible tone, and wit and humour I really appreciated, this book is something really quite useful. I can’t speak for all gen Z & millennials but I don’t doubt that many young people don’t understand a lot about investing, pensions, mortgages, or even their own bank accounts so what this book achieves is hugely commendable. I wouldn’t go as far as saying it makes finance fun (it’s really not my cup of tea) but it makes it a hell of a lot less intimidating and for that it is a triumph!
The whole book is written in a very modern and accessible tone. Far from seeming like she’s ‘getting down with the kids’ it’s a reminder that this book is written by someone young, encountering these issues and sharing what she’s learnt. These things can be scary and feel overwhelming, especially if you find yourself in a tight situation financially but Bain does a great job and making the reader not just feel comfortable but, quite suitably, feel as if they can own their finances! She also tells the reader to skip chapters if they’re not relevant (i.e. about house buying if you’ve already bought a house) which I loved because it gives the reader the agency to dip in and out as they please.
My biggest takeaway from this book is a piece of advice the author gives quite early on: save for anything you want in the next 5 years, invest for goals further than 5 years away. Simple tidbits like this are really want makes this book great – I know real life is complicated and sometimes difficult to plan for, but I think having these principles in mind could really help someone understand how investing works and stop them jumping into anything naively or prematurely.
By tapping in and recognising every cynical thought readers have had about baby boomers having it better than us, the author again recognises so many common anxieties and ideas younger readers may have had about finances. The whole thing is very optimistic and Bain does a great job of reassuring the reader while beaming positivity in a helpful way. She acknowledges that everyone is in a different situation financially and tries to cater for all.
All in all I really loved this book for what it was trying to achieve. My only criticism would probably be that if anything it didn’t go into enough detail – sometimes I found myself scratching my head even after things had been explained and did my own research to supplement my understanding from the book. That said, that was probably the author’s intentions – this isn’t supposed to be the be all and end all of financial advice, just a way for readers to test the water and get a better understanding!
Packed with modern references, an accessible tone, and wit and humour I really appreciated, this book is something really quite useful. I can’t speak for all gen Z & millennials but I don’t doubt that many young people don’t understand a lot about investing, pensions, mortgages, or even their own bank accounts so what this book achieves is hugely commendable. I wouldn’t go as far as saying it makes finance fun (it’s really not my cup of tea) but it makes it a hell of a lot less intimidating and for that it is a triumph!
January 4, 2023
The target readership are millennials (so, not me). The style is breezy and friendly, with a sprinkling of insta-speak. Part One is about mindset and basics, all of which I had already read elsewhere. For me, Part Two was the most useful as it gives practical advice geared to the UK context. Here are some tips and pointers that I had either not found anywhere else or found useful just to have reiterated.
A fund has a two-page info sheet called KIID (Key Investor Information Document). It also has a factsheet which lists its top ten investments (but only those).
The author has some core tracker funds but also two or so active funds.
The MSCI World index is 2/3 the US market.
Passive funds: Vanguard has five LifeStrategy funds.
I didn't understand the author's explanation of 'the spread', the difference between the buy and sell price of an ETF.
The first port of call is usually a stocks and shares ISA because it is tax free but, claims the author, you would have to be making a £12k profit per year or earn dividends higher than £2k to be better off in an ISA rather than a general investment account. I find this interesting to think about; had thought that tax free is best.
Futures indices reflect what traders expect to happen in the future but these seem too complex for a noob such as I.
You can buy a physical gold ETF. Or buy gold via DigiGold from Royal Mint. I'm a bit leery of gold which has echoes, to me, of blood diamonds.
The return on a bond is called a yield. Redemption yield = guaranteed payout at the end. Running yield = payouts along the way. Bonds have a maturity date. The guaranteed fixed payout = a coupon.
A bond = loaning money to a government or company. They are in debt to you.
If a share price is higher than the value of the assets = a premium.
If a share price is lower than the value of the assets = a discount.
Investment trust = cheaper than a mutual fund; it is a company that invests in other companies.
Dividend cover (whatever that is) should be between 1.1. and 1.5. To get a dividend, you must buy before the XD date.
The author is not a fan of bitcoin, blockchain, crypto, social trading (didn't know this was a thing! where you copy influencers) and CFDs (contracts for difference - I didn't understand her explanation but as she warns against it, no matter). She's also not a fan of trading apps like Freetrade or eToro which are fun and cool.
Be an investor, not a gambler.
It's cheaper to do regular auto investing every month.
For a noob, low percentage-based fees are better than flat charges.
AJ Bell has three ETF-dominated portfolios. 0.35%.
Cavandish 0.15%
Willis Owen's cautious, moderate and adventurous portfolios 0.15%, 0.16%, 0.2%.
Halifax iWeb = very cheap.
Drip-feeding = regular monthly investing. Good for noobs.
Costs can be: annual charge or account fee (around 0.5%) plus fixed monthly fees plus trading costs plus charges on the actual investment. Low-cost ETFs 0.05%.
The big 3: Hargreaves Lansdown, Interactive Investor, AJ Bell Youinvest
Other platforms: Interactive Investor; Barclays Smart; BestInvest; HSBC; Fidelity; Aviva; Charles Stanley Direct; Cavendish; Close Brothers; Santander; Willis Owen.
The author also goes into robos which I had not seen so well explained elsewhere (platforms like Nutmeg, Plum, Wealthify, Moneybox and other cheapies).
Bet that an investment will rise in value = go long.
Bet that an investment will fall in value = go short.
Passive funds: fees 0.1% to 0.85%.
Actively managed funds: annual management charge (AMC) 0.75%-1.25%
Mutual funds = unit trusts = pool people's money in a portfolio chosen by a fund manager. They are actively managed.
ISA allowance begins 6 April.
FCSC up to the value of £85k.
gearing = borrowing to invest
A fund has a two-page info sheet called KIID (Key Investor Information Document). It also has a factsheet which lists its top ten investments (but only those).
The author has some core tracker funds but also two or so active funds.
The MSCI World index is 2/3 the US market.
Passive funds: Vanguard has five LifeStrategy funds.
I didn't understand the author's explanation of 'the spread', the difference between the buy and sell price of an ETF.
The first port of call is usually a stocks and shares ISA because it is tax free but, claims the author, you would have to be making a £12k profit per year or earn dividends higher than £2k to be better off in an ISA rather than a general investment account. I find this interesting to think about; had thought that tax free is best.
Futures indices reflect what traders expect to happen in the future but these seem too complex for a noob such as I.
You can buy a physical gold ETF. Or buy gold via DigiGold from Royal Mint. I'm a bit leery of gold which has echoes, to me, of blood diamonds.
The return on a bond is called a yield. Redemption yield = guaranteed payout at the end. Running yield = payouts along the way. Bonds have a maturity date. The guaranteed fixed payout = a coupon.
A bond = loaning money to a government or company. They are in debt to you.
If a share price is higher than the value of the assets = a premium.
If a share price is lower than the value of the assets = a discount.
Investment trust = cheaper than a mutual fund; it is a company that invests in other companies.
Dividend cover (whatever that is) should be between 1.1. and 1.5. To get a dividend, you must buy before the XD date.
The author is not a fan of bitcoin, blockchain, crypto, social trading (didn't know this was a thing! where you copy influencers) and CFDs (contracts for difference - I didn't understand her explanation but as she warns against it, no matter). She's also not a fan of trading apps like Freetrade or eToro which are fun and cool.
Be an investor, not a gambler.
It's cheaper to do regular auto investing every month.
For a noob, low percentage-based fees are better than flat charges.
AJ Bell has three ETF-dominated portfolios. 0.35%.
Cavandish 0.15%
Willis Owen's cautious, moderate and adventurous portfolios 0.15%, 0.16%, 0.2%.
Halifax iWeb = very cheap.
Drip-feeding = regular monthly investing. Good for noobs.
Costs can be: annual charge or account fee (around 0.5%) plus fixed monthly fees plus trading costs plus charges on the actual investment. Low-cost ETFs 0.05%.
The big 3: Hargreaves Lansdown, Interactive Investor, AJ Bell Youinvest
Other platforms: Interactive Investor; Barclays Smart; BestInvest; HSBC; Fidelity; Aviva; Charles Stanley Direct; Cavendish; Close Brothers; Santander; Willis Owen.
The author also goes into robos which I had not seen so well explained elsewhere (platforms like Nutmeg, Plum, Wealthify, Moneybox and other cheapies).
Bet that an investment will rise in value = go long.
Bet that an investment will fall in value = go short.
Passive funds: fees 0.1% to 0.85%.
Actively managed funds: annual management charge (AMC) 0.75%-1.25%
Mutual funds = unit trusts = pool people's money in a portfolio chosen by a fund manager. They are actively managed.
ISA allowance begins 6 April.
FCSC up to the value of £85k.
gearing = borrowing to invest
June 5, 2021
A good introduction into personal finance. Easy to read and encourages you to do own research whilst pointing you in the right direction. Only thing I'd say it tries to be a bit too 'down with the kids'.
January 31, 2022
Great intro into money management for millennials
February 20, 2025
Found it a bit basic as I'm a middle-aged finance professional, but the explainers and advice are generally solid and if it helps young people manage their finances then I'm all for it.
Displaying 1 - 5 of 5 reviews