In fact, it is not!

Starting on a small scale, sooner

One of the things I like about the stock market is the fact that you can meet it on your own terms. Or, to put it another way, an investing approach can be tailored to each specific investor’s financial situation.

That means as a general rule, there is not really such a thing as a minimum amount to invest. That can shave years off a potentially long wait to save up a large sum and start buying shares. It can also make any beginner’s mistakes less costly.

Still, while there may be no minimum amount to invest, there could still be some minimum costs, such as for an investing account administration fee or dealing charges. So it pays to compare options when choosing a share-dealing account, Stocks and Shares ISA or trading app.

Are you ready to invest?

Being ready to start buying shares is not just about how much spare money you have though. It involves some other questions too.

For example, do you have at least a basic understanding of how the stock market works? Have you got to grasps with key investing concepts like how to value shares?

Have you set your investing objectives and also properly considered the risks involved? Such steps need not be complicated or time-consuming, but they are important.

Simply charging into the market with a bit of cash and a single investing idea based on what you think a business’s prospects look like without even looking at its accounts is very rarely a recipe for long-term stock market success.

One share to consider on a small budget

One simple way to try and reduce risks is by diversifying across different shares. With £250, it would be just about possible to split the portfolio over a couple of different shares – but that would offer only modest diversification.

Another approach to gaining diversification is buying shares of an investment trust that itself has a portfolio spread over dozens of different businesses. One I think investors should consider is City of London Investment Trust (LSE: CTY).

It basically focuses on large blue-chip companies – think of some of the biggest names in the FTSE 100 and you will already be thinking about some of the trust’s bigger holdings, though it does have some stakes in more modestly-sized FTSE 250 firms too.

That approach may not sound very exciting but I see a few potential advantages.

One is the passive income opportunity. Dividends are never guaranteed for any share. But City of London has been paying them for decades and indeed has even been growing its dividend per share annually since the mid 1960s.

Its focus on blue-chips could help a new investor get first hand exposure to a range of big companies, even on a limited budget, and thus see in practice not just theory how the market can work.

That concentration is a risk too. If the UK economy slows down, City of London’s portfolio could well follow. From a long-term perspective though, I like its investment strategy.

Should you invest £5,000 in City Of London Investment Trust Plc right now?

When investing expert Mark Rogers and his team have a stock tip, it can pay to listen. After all, the flagship Twelfth Magpie Share Advisor newsletter he has run for nearly a decade has provided thousands of paying members with top stock recommendations from the UK and US markets.

And right now, Mark thinks there are 6 standout stocks that investors should consider buying. Want to see if City Of London Investment Trust Plc made the list?

Christopher Ruane has no position in any of the shares mentioned.

The post Here’s how £250 could be used to start buying shares this May appeared first on The Twelfth Magpie.

Over in the US, the S&P 500 has risen 25% in 12 months. The market has been climbing sharply since late 2023 on the back of, yes, the surge in artificial intelligence (AI).

AI stock boom

And here’s the really scary thing. One single stock accounts for 9% of the entire value of the S&P 500 right now. And I’m sure you’ve guessed which one — yes, chip maker Nvidia. Nvidia now has a market cap of a shade short of $5.5trn.

Some illuminating perspective on that might be handy for UK eyes — Nvidia alone is worth around twice the value of all our FTSE 100 companies put together. Illuminating? That’s practically blinding.

Meanwhile, Google’s parent Alphabet has seen its market cap rise to $4.7trn. Between the two, they’re worth more than three and a half Footsies.

Why does Burry Worry?

It’s feeling like the last months of the 1999 — 2000 bubble

— Michael Burry

Hedge fund manager Michael Burry recently told us all he could hear on financial radio on a long driving trip was “absolutely non-stop AI“.

He famously predicted the 2008 financial crisis — and made a packet from it. The founder of Scion Asset Management, he was played by Christian Bale in the film adaptation of The Big Short.

But without downplaying Burry’s credentials, anyone can get lucky predicting a stock market crash once. And they rarely happen when people think they’re going to.

Reasons to be cheerful

We’re relatively isloated from the AI surge here in the UK. Our little FTSE 100 index is on a trailing price-to-earnings (P/E) ratio of 16, with a forecast ratio of 14 based for the next 12 months. That’s pretty much bang on its long-term average.

While I expect a US market crash would give UK shares a shake too, I see enough safety margin to provide resilience.

UK shares recovered from the 2020 pandemic crash impressively fast. And I really can’t see a possible slump in 2026 being anywhere near as painful as that.

What can we do?

I think investors should consider putting a portion of their Stocks and Shares ISA cash into a diversified investment like City of London Investment Trust (LSE: CTY).

The share price is up 40% over the past five years — slightly behind the FTSE 100’s 45%. And we’re looking at an expected dividend yield of 4% — with the index on a forecast 3.3%. Crucially, City of London has raised its dividend every year for 59 years in a row!

If we don’t see a rise one year, I’d expect some share price fallout. And it’ll never be foolproof against a stock market crash.

But I reckon holding an investment trust like this, with widely diversified UK holdings, for the long term could help us worry less about short-term ups and downs. And then look to snap up bargain buys if there is a crash.

Alan Oscroft owns shares in City of London Investment Trust.

The post Is the biggest stock market crash since the dot com bubble coming? appeared first on The Twelfth Magpie.

That’s one reason millions of people have a Self-Invested Personal Pension (SIPP), separate to a State Pension.

To illustrate how that might help top up retirement earnings, let’s walk through the process of having a SIPP as well as some pros and cons, for someone who wants to target an extra £1,000 per month in retirement.

Thinking about passive income

There are different ways a SIPP might help to boost someone’s finances alongside a State Pension.

For example, they may decide to sell some of the holdings and use that capital. Up to a certain limit of the total value, this can currently be done tax-free from 55 onwards, though that age will likely rise in future.

Please note that tax treatment depends on the individual circumstances of each client and may be subject to change in future. The content in this article is provided for information purposes only. It is not intended to be, neither does it constitute, any form of tax advice. Readers are responsible for carrying out their own due diligence and for obtaining professional advice before making any investment decisions.

To keep things simple, though, in this example I want to consider the situation of someone who wants to take the income from their SIPP but not touch the capital.

A target of £1k per month means £12k per year.

Let’s say someone wants to aim for a 4% average yield on their SIPP. That’s above the current FTSE 100 yield of 3.1% but still achievable, in my view, while sticking to proven blue-chip firms and having a fairly conservative approach to risk management.

That would require a SIPP valued at £300k.

Building up the SIPP value

How long would such a SIPP take to achieve?

Say someone puts in £500 each month. Thanks to tax relief that would give them £625 to invest as a basic rate income tax payer, or even more if they are a higher or additional rate income tax payer.

Indeed, this tax relief is a big advantage that has helped persuade me to have a SIPP.

Investing like that and compounding at 5% annually, it’d take 23 years for the SIPP to hit the £300k valuation I mentioned. Investing more could speed things up.

The compound annual growth rate consists of dividends plus any capital gains (though minus any capital losses), so I think the 5% is realistic.

One share to consider

One share I think merits consideration is the City of London Investment Trust (LSE: CTY). As it happens, it yields exactly 4% right now.

In fact the trust’s dividend record is stellar, as it has grown its payout per share annually for decades.

That is no guarantee things will continue that way. Dividends are never assured, though clearly the trust’s managers aim to keep the growth coming.

By sticking mostly to medium and large UK-listed companies that’ve been around for a while, the trust has a fairly conservative risk profile. That helps it to benefit from the tens of billions of pounds paid annually in dividends by FTSE 100 firms alone.

There’s a risk in such an approach, too. By tethering the trust’s performance so firmly to the UK, a downturn in British economic performance could hurt its portfolio valuation and therefore its share price.

Over time, though, I expect this investment trust’s performance might not be electrifying but should hopefully be broadly in line with that of the FTSE 100.

The post How could a SIPP provide an extra £1,000 per month on top of a State Pension? appeared first on The Twelfth Magpie.

Here I want to talk about three in particular, and reveal what makes them such powerful dividend payers. The companies are Primary Health Properties (LSE:PHP), City of London Investment Trust (LSE:CTY), and Rathbones (LSE:RAT).

Read on to discover what makes them passive income stars.

Please note that tax treatment depends on the individual circumstances of each client and may be subject to change in future. The content in this article is provided for information purposes only. It is not intended to be, neither does it constitute, any form of tax advice. Readers are responsible for carrying out their own due diligence and for obtaining professional advice before making any investment decisions.

Three of the best

Each of these FTSE 250 shares boast features that make them ideal dividend stocks. With Primary Health Properties, these qualities include:

• Real estate investment trust (REIT) classification, meaning at least 90% of rental profits are distributed to shareholders.
• A focus on the defensive healthcare property market.
• Tenants that are tied down on long, multi-year contracts.
• Tenancy agreements backed by government bodies (like the NHS).
• Index-linked rents that protect against rising inflation.

City of London Investment Trust benefits from:

• A focus on the dividend-heavy London stock market (95% of its holdings are UK shares).
• The trust’s ability to retain up to 15% of income in ‘good’ years, allowing it to grow dividends even if underlying holdings freeze or cut theirs.
• A portfolio dominated by financially robust FTSE 100 companies with proven business models.
• Diversification across 77 companies spanning different industries.
• Limited gearing, which helps keep borrowing costs down.

Growth AND yields

Finally, dividends at Rathbones are supported by the asset manager’s:

• Reliable recurring management fees.
• Strong record of customer retention.
• Robust balance sheet (its CET1 ratio is currently 17.4%).
• Increased scale, following the acquisition of Investec Wealth & Investment.
• Exposure to the growing asset management sector.

How have these qualities boosted their dividend performance over the years? Let’s take a look.

During the last decade, dividend yields have comfortably beaten the FTSE 250 long-term average of 2.5% to 3.5%. What’s more, each of the three companies has overcome issues like soaring interest rates, the pandemic, and a weak UK economy to keep raising shareholder payouts.

So what next?

The question is, can these dividend heroes keep on delivering? With Primary Health Properties, earnings and dividends could suffer if the NHS reduces support for primary healthcare.

City of London might disappoint if financial services companies — which make up a large proportion of the trust — come under pressure. And dividends at Rathbones could eventually stop growing if competition in the asset management sector continues to rise.

That said, any dividend share presents risk to investors. And taking everything into account, these three FTSE 250 stocks are among the UK stock market’s most reliable passive income stars. I think they’re worth serious consideration for a long-term income portfolio.

The post How do these FTSE 250 stocks keep paying stunning dividends? appeared first on The Twelfth Magpie.

But while City of London is well-known – its market capitalisation of £2.8bn earns it a place in the FTSE 250 index – its long-term record of regular dividend growth is not unique.  

Bankers Investment Trust and Alliance Witan have been increasing their dividends annually for just as long as City of London has.

A number of other shares, from F&C Investment Trust to Scottish American Investment Company, have increased their payout per share for north of half a century.

There’s a common theme here

There are some operating businesses that have an equally impressive track record. Industrial manufacturer Spirax Group, for example, has also grown its dividend per share each year for over half a century.

But what is immediately noticeable about the shares I mentioned above is that they are investment trusts, not operating companies.

Even the best-run company can suffer during periods of economic downturn. That often leads them to reassess their spending priorities. Dividends – which are never guaranteed for any share – can be cut as a consequence.

By contrast, investment trusts are typically firms with few employees and no operations beyond running the trust: they mainly own shares (or other assets).

That matters in this context because it means that they do not face the immediate financial pressure an operating company might do during tough times, with customers cancelling orders and suppliers suddenly hiking prices.

No share is risk-free

Still, while I see that as an advantage, it does not mean that an investment trust will be unaffected if the economy is weak.

Its own shareholders may sell, pushing down its share price. Its income streams could suffer if shares it owns cut their payouts.

At the moment, for example, City of London’s 10 biggest holdings include HSBC, Shell, Natwest Group, Imperial Brands and BP. They all cut or cancelled their dividends during the 2020 stock market crash.

Long-term income potential

So, how has City of London – like some rivals – managed to keep growing its own dividend like clockwork?

That reflects the trust management’s choice of where to invest. The trust currently holds stakes in close to 80 different companies. That level of diversification can help it weather the storm even when some of its larger stakes cut their dividends.

The shares it owns I mentioned above are all blue-chip FTSE 100 members and reflect City of London’s strong focus on big, proven UK businesses. That is not limited to the main index, though. City of London also owns stakes in some FTSE 250 enterprises such as ITV and Victrex, currently yielding 6.2% and 9.7%, respectively.

Such reliance on UK companies brings a risk that if the British market does badly, City of London’s income streams could fall. That is a risk to the dividend.

From a long-term perspective, I see it as a stock for investors to consider.

The post Meet the income shares that have grown their dividends for over 50 years in a row! appeared first on The Twelfth Magpie.

Take City of London Investment Trust (LSE:CTY), Alliance Witan (LSE:ALW), and Scottish Mortgage Investment Trust (LSE:SMT). Collectively, these trusts have raised dividends every year for 161 years. But what makes them specifically such impressive income generators?

City of London – 59 years of dividend growth

City of London Investment Trust has grown dividends every year since the mid-1960s. How? By focusing on UK blue-chip shares, which themselves have some of the best dividend records on the planet.

In total, this trust owns shares in 78 companies, of which its largest holdings include HSBC, BAE Systems, Unilever, and Shell. As this list shows, these are companies with diverse revenue streams, robust balance sheets, and market-leading positions, all of which lead to reliable dividends over time.

By far, City of London’s largest exposure is to financial services. Around 33% of it is tied up in this sector, which can make returns a little more vulnerable during economic downturns. Still, this hasn’t derailed the trust’s progressive dividend policy yet.

The forward dividend yield here is 3.8%.

Alliance Witan – 59 years of dividend growth

Alliance Witan also has almost six decades of consistent dividend growth under its belt. Like City of London, it is also well diversified by sector, with exposure to financials, IT, healthcare, telecoms, and consumer goods among others.

In fact, it holds shares in 229 different companies. And what I especially like is that these can be found all over the globe, including the UK, Europe, Asia, and the US. A higher weighting towards New York-listed shares (66% of the portfolio) does create more concentration risk than a more equally distributed portfolio, however.

The forward dividend yield is a handy rather than spectacular 2.2%, which reflects a high concentration of growth shares like Microsoft and Nvidia. However, that focus on dividend growers over high yielders means investors have enjoyed strong share price gains alongside a rising passive income.

Scottish Mortgage – 43 years of dividend growth

Scottish Mortgage Investment Trust also allows investors to enjoy the best of both worlds. Annual dividends have risen every year for almost half a century. Meanwhile, its share price has risen at an average yearly rate of 18.7%.

It’s been able to achieve this by focusing on high-growth technology shares, 102 in total. It has holdings in both private and publicly listed companies like SpaceX, TSMC, Amazon, and Meta, allowing it to harness white-hot tech trends including AI, e-commerce, and robotics.

Can it continue delivering? I’m confident it can as the digital revolution rolls on. Remember, though, that its focus on one sector creates some additional risk. The forward dividend yield here is 0.4%.

The post 161 years of dividend growth! 3 investment trusts for passive income appeared first on The Twelfth Magpie.

For a SIPP in particular, I reckon most of us want to minimise stress. And I like to look for the kinds of investments we can sit back and forget. But what might they be?

I think investment trusts can fit the bill quite nicely. And in particular, I favour one specific group of them.

Dividend Heroes

The Association of Investment Companies (AIC) maintains a list of those boasting at least 20 consecutive years of dividend raises. It calls them ‘Dividend Heroes’ and a number of them have achieved some quite remarkable feats.

City of London Investment Trust (LSE: CTY) and Bankers Investment Trust (LSE: BNKR) are among the leaders of the pack. They’ve both increased their dividends for a stunning 59 years in a row, without missing a single year.

What do they do?

Both aim for a combination of long-term capital growth and dividend income. The only real difference is in the stocks they buy and hold.

City of London puts its shareholders’ money mainly into companies on the London Stock Exchange. And note I say shareholders, not customers. That’s right, we don’t hand over our cash for them to manage — and use to prioritise their own profits, like some other kinds of pooled investments. No, instead we buy shares directly in the investment trust, which itself is a company listed on the stock market. That way, the profits for the company owners come to us… because that’s who we are.

City of London’s top 10 holdings include HSBC Holdings, Shell, BAE Systems, Tesco… And that immediately gives us a nice bit of diversification with a single investment. And that’s probably the single most effective way to minimise the pain of stock market volatility. Of course, if the whole market is down we should still see the trust’s share price fall. But it’s almost certainly to be less than the worst-affected stocks.

Wider outlook

Moving to Bankers Investment Trust, the outlook there is global, with a heavy American focus. Its top holdings include Nvidia, Amazon, and Apple. That does bring some risk of AI exposure, admittedly. But only around 12% of the trust’s cash is in these three. And JPMorgan Chase is in the top 10 too.

US stocks account for round two-thirds of Bankers’ total investments. And US markets do tend to lead the rest of the world in volatility. But it’s also the country that’s led worldwide stock market tables for decades. And I can’t see that changing any time soon.

Bankers has managed an average annual return of 11% since 2015, largely through the strength of American investments.

A good start

As well as general stock market risk, I reckon any failure to raise the annual dividend from either of these could trigger a share price dip. But considering them as a base for a SIPP, I really think they can bring better peace of mind than starting with — and worrying about — individual stocks.

The post Here’s 1 way to pick buy-and-forget stocks for a lifetime SIPP appeared first on The Twelfth Magpie.

Dividends are never guaranteed, so it pays to manage risks by diversifying the portfolio properly and carefully assessing shares before purchasing them. Still, this could be a simple and fairly lucrative scheme, depending on how much someone invests.

Cutting your coat according to your fabric

How big the second income might be depends on a few factors. In short, those are the size of investment, what the average dividend yield is, and how long someone waits.

Let’s examine each in turn.

Size of investment: suit yourself

Investing in the stock market is a flexible activity that can be tailored to an individual’s circumstances.

That might involve a lump sum, for example, or it could be regular investing. It might even be irregular investing, drip feeding spare money in as and when you have some.

Dividend yield: a helpful financial measure to understand

The second factor that determines the income is dividend yield. Basically that is the annual dividends earned, expressed as a percentage of the cost of the shares. For example, a 5% yield means for each £100 invested, the annual dividends will hopefully be £5.

Stockbroking costs can eat into the second income, so it pays to weigh different options when choosing a share-dealing account, Stocks and Shares ISA or trading app.

Time: the friend of the savvy investor

The third factor is time. For example, let’s stick with the 5% yield. That is well above the current FTSE 100 yield of 3.1%. Nonetheless, I think it is possible while sticking to blue-chip companies.

With a monthly second income target of £500 (£6k a year), a 5%-yielding portfolio would need to be worth £120k to hit the goal.

An alternative approach is initially reinvesting dividends before drawing the income. This is known as compounding. From nothing, someone investing £1k a month and compounding it at 5%, the portfolio would grow to £120k in under nine years.

Choosing income shares with long-term potential

When I look for a share (because I want to build income streams), I do not just look at its current yield. That is a snapshot of current performance and changing business performance could mean future dividends (if any) are different. So I look at how strong the business seems and what its future prospects may be.

For example, one dividend share I think investors should consider is City of London Investment Trust (LSE: CTY). By investing in a carefully selected group of leading British shares, the trust has been able to grow its dividend annually since the 1960s.

Over the past five years, there has also been good news in terms of share price performance. The 45% gain is below the 53% achieved by the FTSE 100 during that period. But I still see it as a strong result.

Sticking mostly to British blue-chips, the trust exposes itself to the risk that a weaker UK economy could hurt its performance. But it is also exposed to a well-established market where some companies sell at attractive valuations.

That could help provide long-term capital growth, as well as the prospect of juicy dividends.

The post Want to aim for a £500 second income each month? Here’s how much it takes appeared first on The Twelfth Magpie.

But all this Stocks and Shares ISA stuff is complicated, right? And who has 20 grand to stash away? Well, it’s actually quite straightforward. Here are three key steps.

Please note that tax treatment depends on the individual circumstances of each client and may be subject to change in future. The content in this article is provided for information purposes only. It is not intended to be, neither does it constitute, any form of tax advice. Readers are responsible for carrying out their own due diligence and for obtaining professional advice before making any investment decisions.

Step 1: pay in some cash

Opening an ISA online is fairly easy these days. Just head over to your online ISA provider of choice — and all the ones I’ve looked at have clear instructions to follow. They accept one-off transfers, or monthly direct debits from as little as around £25.

And we really don’t need a lot to get started. Maybe just £25 each month, and top up whenever we have spare cash. Even that could build to a significant pot over the long term.

There’s no need to buy shares by any deadline. So we can leave the cash there as long as we like, until we know what we want to buy. The time limit for the £20,000 applies only to money paid in, not actually invested in shares.

Step 2: decide on a strategy

What about an investment strategy? Tech growth shares have been making great strides. But falls in the past few months have highligted the potential danger too. AI chip leader Nvidia, for example, has dipped 19% since October.

The FTSE 100 has some tempting dividend shares. Legal & General tops the list with a forecast 8.6% yield — although that’s not guaranteed, so there’s different risk there. Reinvesting dividends in more shares could build up to a decent passive income pot over the years.

Daily at The Motley Fool, we publish a number of free-to-read articles. Each covers at least one stock to consider. Investors could do worse than reading them to get a feel for which kind of companies they might like.

Just remember one vital part of any strategy. Diversification across different companies and different sectors is essential. Spread out, the chances are that fewer eggs will be broken if the market drops a basket.

Step 3: buy something!

Buying our first share can be an exciting moment. And there’s a class of stock that I think can help with our strategy. They’re investment trusts like The City of London Investment Trust (LSE: CTY). This one holds a range UK stocks, aiming for long-term income and capital growth.

It picks a range of different companies, which we can them explore to help decide on a longer-term strategy. And it provides much-needed diversification in one go. Its top 10 include HSBC Holdings, Shell, BAE Systems… and a variety of others.

The trust has raised its annual dividend (currently at an estimated 3.9%) for 59 years in a row. That does highlight a risk, as I’d expect the share price to fall should the dividend fail to grow one year. And even a diversified investment like this can’t avoid a general stock market slump.

But I think this — or a similar investment trust — is one every new ISA investor aiming for passive income should consider when starting out.

The post 3 steps to aim for a lifetime of passive income from a new ISA appeared first on The Twelfth Magpie.

On paper, targeting £2,400 a year in income from that amount implies a 12% yield.

The problem is that a 12% sustainable income return is extremely rare in today’s market. Where it does exist, it usually comes with significantly higher risk than most long-term investors would accept.

So while the £2,400 figure can be a useful goal, it is not something that can realistically be generated from £20,000 in a single year. Not without taking on considerable risk.

A more practical approach is to treat it as a compounding target. One built over time through reinvested dividends, capital growth, and gradual portfolio expansion.

In that context, the question isn’t whether £20,000 can generate £2,400 immediately, but how it can be structured so that income steadily grows towards that level in a sustainable way.

With that in mind, here’s how a £20,000 ISA portfolio could be structured to focus on building sustainable long-term income.

Core holding

One of the longest-held positions in my ISA portfolio is insurance group Aviva (LSE: AV.). The recent market sell-off has pushed its dividend yield up to around 6.6%, but that isn’t the main reason I hold it.

As the UK’s largest general insurer and a growing wealth business, Aviva generates relatively stable cash flows from premiums and long-term savings products, which supports its ability to return capital to shareholders.

The attraction here isn’t just income, but the durability of the business model. Insurance companies don’t rely on rapid growth. Instead, they depend on disciplined underwriting, cost control, and consistent capital generation over time.

The key risk remains exposure to economic cycles and investment market volatility, which can affect returns. However, over the long term, it is precisely those investment returns that underpin both dividend growth and shareholder payouts.

Dividend workhorse

To complement individual equities, I also own a number of investment trusts, including The City of London Investment Trust (LSE: CTY), one of the UK’s longest-running dividend-focused investment trusts.

Its strategy is straightforward: invest in a diversified portfolio of established UK companies and prioritise consistent, growing income over time. That includes major dividend payers such as HSBC, Shell, Tesco, and Legal & General, alongside financials like Lloyds and NatWest.

What makes it attractive is its track record of increasing dividends through multiple market cycles, which helps smooth income generation inside an ISA.

The trade-off is that it remains exposed to the UK market and broader economic conditions, meaning capital values can fluctuate even if income stays relatively resilient.

Building a second income over time

Together, these two holdings show how I’d approach building a second income within a Stocks and Shares ISA. Aviva provides a core source of relatively stable cash generation, while the City of London Investment Trust adds diversification and a long track record of growing dividends.

Importantly, this isn’t about generating £2,400 overnight. It’s about building a portfolio that can steadily increase its income over time through reinvestment and disciplined stock selection.

In that sense, the ISA becomes less about chasing yield and more about creating a resilient income stream that can grow year after year.

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