Keep it simple, stupid - and KISS your PEP worries away.
Stick to a few simple rules when choosing your tax-free personal equity plan and you will reduce your risk, sleep soundly - and should make some money too.
Here are four tips from PEP "kiss" experts Chase de Vere (tel: 0800 526 091):
AIM to invest for at least five years - and ideally longer.
SPREAD your investment across more than one country but don't go too wild or you'll go crazy keeping track of it all.
CHOOSE a global fund with a good balance of UK, European and other countries' shares.
PICK a fund management group whose annual performance is consistently good, as well as its five-year performance.
Best performers over the past five years include PEPs offered by INVESCO, Jupiter and Fidelity. The British have more than pounds 40 BILLION stashed in PEPs - but so far not everyone has made a mint.
If you are not happy with your PEP's growth you can either switch it to a different PEP run by the same managers or transfer your whole PEP to a completely different fund manager.
Everyone over 18 has had the right to put money, or add money, into a PEP each tax year since 1986-87.
This is the last year that you can do this. From next spring you will be able to keep existing PEPs going but any new tax-free investment has to go into an Individual Savings Account (ISA). These will replace both PEPS and tax-free TESSA savings accounts from 1999-2000.
So if you want to salt up to pounds 9,000 away permanently tax-free into shares before April, look lively.
You can narrow the field of choice by consulting Chase de Vere's PEP Guide (see examples below) and twice-yearly updates including performance charts, which cost pounds 12.95 (tel: 0800 526 092).
If you buy a PEP using Chase as a result they will refund your pounds 12.95.