Moderators Chest Rockwell Posted September 23, 2013 Moderators Share Posted September 23, 2013 Umm.. yeah. Obviously the title is a bit toungue in cheek.. but seriously. I have enough money that I should be "making it work for me" (blergh) or whatever but I have no idea idea what I'm doing. Â I remember we had a thread on stocks and shares or whatever at some point. I don't think I understood it at all. Â What should I do? Â Maybe it's as simple as "go see a professional financial advisor, you idiot" but I don't even know if that's what I should be doing. I figure they are going to ask me a bunch of questions, but I won't know how to answer them because I'm that clueless. If I saw someone, what else would I need to be able to tell them other than how much money I have to play around with? Â I guess they would want to know how risk averse I am.. and how accesible I need the money to be. That kinda stuff, right? Â What else? Â Â I thought this might be worthy of a thread as I can imagine there are other people in the same boat as me who are not really sure where to begin. And that it might open up some other interesting conversations. Â Cheers guys. Link to comment Share on other sites More sharing options...
Paid Members Dead Mike Posted September 23, 2013 Paid Members Share Posted September 23, 2013 How much are we talking? I'm assuming you own your home? Link to comment Share on other sites More sharing options...
Paid Members Wretch Posted September 23, 2013 Paid Members Share Posted September 23, 2013 Can I have a tenner? Link to comment Share on other sites More sharing options...
Moderators PowerButchi Posted September 23, 2013 Moderators Share Posted September 23, 2013 I'll have a rennet as well if you're offering. Link to comment Share on other sites More sharing options...
Paid Members Sergio Mendacious Posted September 23, 2013 Paid Members Share Posted September 23, 2013 I have a wide selection of bridges for sale. Link to comment Share on other sites More sharing options...
Paid Members Bellenda Carlisle Posted September 23, 2013 Paid Members Share Posted September 23, 2013 Ignore these chancers begging for your money... I do know a skint illustrator who needs sponsoring though Link to comment Share on other sites More sharing options...
Paid Members Sergio Mendacious Posted September 23, 2013 Paid Members Share Posted September 23, 2013 Ignore these chancers begging for your money... I do know a skint illustrator who needs sponsoring though  Ignore him, he's skint for a reason. I'm not skint, but a leg-up would permit me to, say... proceed with an Arrested Development VP table? Link to comment Share on other sites More sharing options...
Moderators Chest Rockwell Posted September 23, 2013 Author Moderators Share Posted September 23, 2013 Who do you take me for, Lorenzo di Medici?? Â How much are we talking? I'm assuming you own your home? Â Â See.. this is part of the problem that I'd like some advice on. I don't own a place.. I moved in with my Mum after my Dad passed away and before that I was renting. Â I'm not going to stay with her forever, but I don't really want her to be on her own either so I'm not in any hurry to move out. She owns her house already. Â I know a lot of people would tell me to buy a place to get on the ladder even if I'm not living in it, but I'd like to know if that is the best way to invest my money or if that's what people say just because that's what people say, and it's not actually the best way to do things. Â If I do buy a place, should I buy somewhere I would want to live in or just treat it as an investment? Â Alternatively, if I'm waiting to buy somewhere when I'm acutally planning to move into it at some point in the next couple years, what can I do with my money for short-med term investments where it is still accessible when I need to get at it? Â So, because of this, I'm not sure exactly how much it is even that I have to play around with. Link to comment Share on other sites More sharing options...
The Four Horsemen Posted September 23, 2013 Share Posted September 23, 2013 Shares in telecoms (Vodafone, Three, Orange/EE always do well) or look online for $1 shares, someone who works with me made a shit load a few years ago from investing in a company called Red Dragon Oil. Link to comment Share on other sites More sharing options...
Paid Members Sergio Mendacious Posted September 23, 2013 Paid Members Share Posted September 23, 2013 someone who works with me made a shit load a few years ago from investing in a company called Red Dragon Oil. Â Flying Snake oil salesmen, eh? Link to comment Share on other sites More sharing options...
The Four Horsemen Posted September 23, 2013 Share Posted September 23, 2013 someone who works with me made a shit load a few years ago from investing in a company called Red Dragon Oil. Â Flying Snake oil salesmen, eh? Â Dunno, Googled them and they appear to be still trading Yahoo Finance and Clicky!! Â Of course you could have look on Google yourself seeing as your online before you tried to be smart. God i'm coughing like asthmatic Darth Vader and I still managed to type this and get the links. Â Back OT now eh? Link to comment Share on other sites More sharing options...
Pier Six Brawler Posted September 23, 2013 Share Posted September 23, 2013 Buy a rental property. Link to comment Share on other sites More sharing options...
Paid Members Dead Mike Posted September 23, 2013 Paid Members Share Posted September 23, 2013 If I do buy a place, should I buy somewhere I would want to live in or just treat it as an investment? Â I'd look at it this way (it's not very nice but it's pragmatic), will you inherit the house when she passes? Will you have to share this with siblings? If you're renting now & don't have a mortgage you're going to need somewhere to live eventually & renting throughout your retirement isn't sustainable unless you're super wealthy with a killer pension (which at the current rate will be raided multiple times before you retire anyway) or have other interests that still provide you with a salary throughout retirement. Given the UK's suffering from a shortage of social housing private landlords are currently doing very nicely & I can't see that changing for at least the next 10 years. If you've enough to buy a property outright to rent then I'd do that in flash. The property (sales) market will go up & down but unless you need to sell at a certain point then it wont matter & it's a steady income source. Most people I know who've made themselves comfortable have done it this way. Link to comment Share on other sites More sharing options...
Paid Members Sergio Mendacious Posted September 23, 2013 Paid Members Share Posted September 23, 2013 someone who works with me made a shit load a few years ago from investing in a company called Red Dragon Oil. Â Flying Snake oil salesmen, eh? Â Dunno, Googled them and they appear to be still trading Yahoo Finance and Clicky!! Â Of course you could have look on Google yourself seeing as your online before you tried to be smart. God i'm coughing like asthmatic Darth Vader and I still managed to type this and get the links. Â Â Chest - buy a rental place. From me. Link to comment Share on other sites More sharing options...
The Four Horsemen Posted September 23, 2013 Share Posted September 23, 2013 someone who works with me made a shit load a few years ago from investing in a company called Red Dragon Oil. Â Flying Snake oil salesmen, eh? Â Dunno, Googled them and they appear to be still trading Yahoo Finance and Clicky!! Â Of course you could have look on Google yourself seeing as your online before you tried to be smart. God i'm coughing like asthmatic Darth Vader and I still managed to type this and get the links. Â Â Chest - buy a rental place. From me. Â LMAO!!! Link to comment Share on other sites More sharing options...
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