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Investing money
I'm in the process of selling a house and will be lucky to be in a position to have some money after clearing the mortgage and a few other bills.
I was wondering if anyone had good ideas for investments ? I do understand everything is a risk but rather than leaving it sit in a current account, I'd like to earn something on it over a number of years and considering interest rates for savings here being so low, I'm trying to find something better
FetishCherry (01-09-23)
1. Why sell? With the lack of accommodation, you can do very well by renting out on Airbnb. It depends on the location...Originally Posted by john40
2. Flipping luxury watches, but you need to have knowledge about watches. the dynamics of the grey market and future predictions. So, it's not for you if you don't have any knowledge about it.
3.Go to a financial advisor. They can provide you with some good ideas...
Keeping your money in the bank is the worst idea; the bank will make money with your money, and you will receive a small interest. Why not make money yourself?
And last but not least, read 'Rich Dad, Poor Dad,' a very good book to read: https://en.wikipedia.org/wiki/Rich_D...d#Bibliography
Good Luck!
Last edited by FetishCherry; 01-09-23 at 12:24.
Always Smile
bmw528 (02-09-23), Larrii (02-09-23), robothecop (03-09-23)
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If you are investing for a window of 5 years plus, you are probably best in stock markets rather than savings accounts - they can go up or down, but historically they nearly always did better over 5 years plus.
It is worth considering funds rather than individual shares. These spread your risk over many different companies and make sense unless you either have a "hot tip", or want to have a bit of a gamble with money you can afford to lose.
Funds split generally into "actively managed", where a fund manager picks companies they think will do well, and "trackers" where the investment is spread across lots of companies within a market index in proportion to their size. For example a FTSE 100 tracker would invest in the top 100 companies in the main UK market. If a company does badly and is replaced by another, the same happens to your investment. I have done well over many years investing in trackers, and I think they are better, because you don't pay the high cost of a manager, and historically trackers outperform about three quarters of managed funds, even from the top companies.
It is probably best to invest through a "wrapper" account, such as a Hargreaves Lansdown Fund and Share Account (or one of many comparable products). These wrappers allow you to track things online and switch investments more or less instantly.
If you are in the UK, you should look at using a Stocks and Shares ISA to give you tax exemption on growth and interest. In Ireland I believe there is no direct equivalent, but you can save tax if you invest through a pension wrapper. The down side is the money is less immediately available if you need it before retirement.
Health warning - I am not a financial expert, just an amateur who chose to do some research myself rather than using a financial adviser.
Good luck.
https://www.fool.co.uk/investing-bas...ndex-trackers/
gameboy (04-09-23), Rooney2808 (01-09-23)
Are you closer to 40, 50, or 60 years of age. To me, this is paramount as to how much risk you should take on. How it relates to your other earning power too like do you still work or are you planning to continue working?
Only after answering these would I suggest anything
Buy a house
"I'm the leader of the pack which makes me such a lucky jack. And here they are, they're so appealing, OK dollies do your dealing."
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Set up a small business. Maybe buy & sell.
Vintage cars! They are exempt inheritance tax I have been told. My own luck buying shares has been mixed, I prefer less volatility and risk. Definitely go to a proper financial advisor, it will be worth it.
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Fuck all that shite.
Spent it here.
Memories for the rest of your life.
Life is for living.
Not many people do it.
Only 1 crack at it
Do it right
bmw528 (01-09-23),
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Thats rich coming from you.
Last edited by bmw528; 01-09-23 at 20:31. Reason: Great advice from a man that needs a Tin Opener to open his wallet
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Now now, I've no problem spending, I just don't like being robbed.Thats rich coming from you.
bmw528 (01-09-23), Bruce 4play (02-09-23),
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