Soldato
How exactly? I earn around that and I don't even see 1.8k coming into my account as actual pay after tax and student loans!!!!! I also live in the NW.
How to make money?
- Thread starter inferno
- Start date
How exactly? I earn around that and I don't even see 1.8k coming into my account as actual pay after tax and student loans!!!!! I also live in the NW.
Hmm, not exactly the replies i was hoping for....
I have a fairly decent salary in a country that is tax free, do not blow my money like my friends and I get my accommodation paid for. Since I am a pilot and if I have a car crash I could lose my job, I would like to invest money to give me some back up should that ever happen. I realise I have quite a good deal and would like to make the most of it.
I don't live a flash life, but not boring either, though I was hoping to hear about what OTHER people are doing with money they have saved up!
I have a fairly decent salary in a country that is tax free, do not blow my money like my friends and I get my accommodation paid for. Since I am a pilot and if I have a car crash I could lose my job, I would like to invest money to give me some back up should that ever happen. I realise I have quite a good deal and would like to make the most of it.
I don't live a flash life, but not boring either, though I was hoping to hear about what OTHER people are doing with money they have saved up!
After tax and NI you would be on pretty much exactly that, you would have to have exactly zero outgoings to manage it.
I'm 21 and I live from paycheck to paycheck!
+1
Associate
Get an expensive hobby!
Soldato
Invest in AIM listed companies.
Soldato
I'd like to be able to earn £1800. let alone saving.
You could play Navy and buy loads of expensive yachts and try to sink them.
Only if you have no outgoings though surely? on 30k you'd only just be taking home 1800 ish
Permabanned
You can get property for that. I suggest buy-to-rent.
I also suggest trying share trading, you may like it, you may not - I like it.
I also suggest trying share trading, you may like it, you may not - I like it.
31% tax on £23,525 = 7,293.
£30,000 - £7440 = £22,707.
£1,800 x 12 = £21,600.
3% of £20,000 = £600.
£22,707 - £21,600 + £600 = £1,707.
I can see how someone could live off that if living at their parents house.
Besides.
http://forums.overclockers.co.uk/showthread.php?p=17381925#post17381925
inferno said:
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Yeah, but this is the north we're talking about. Up there you pay for your weekly shop in puma teeth.
Soldato
I've never seen that before.
Buy land! then grow a forest and host outdoor laserquest things there - awesome (PAINtball without the pain).
Honestly I'm not sure what I'd do, but buying land would be fun, or property would probably also make good returns if you had the right expertise/luck... but I suppose 20,000 isn't really enough for that. Play the stock markets? (obviously a completely reliable money maker).
Stock market.
I wouldn't bother with active trading as such, usually ends badly. Find a good company/companies with good management and at a good price and invest for the long term. (5 years +). Obviously there's a bit more to it, but you know...could be here for days discussing stock market techniques and everyone would get very bored.
Was gonna put £1000 into a company myself a month or two back...would be sitting on ~£130 'profit' so far, which doesn't sound a lot but thats just in a month or two...bit of a kick in the balls since I didn't actually invest.
I wouldn't bother with active trading as such, usually ends badly. Find a good company/companies with good management and at a good price and invest for the long term. (5 years +). Obviously there's a bit more to it, but you know...could be here for days discussing stock market techniques and everyone would get very bored.
Was gonna put £1000 into a company myself a month or two back...would be sitting on ~£130 'profit' so far, which doesn't sound a lot but thats just in a month or two...bit of a kick in the balls since I didn't actually invest.
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Soldato
I am in a simmilar position to you. You're probably right that sitting it in a bank will not do you any good, in fact you'll end up long cash (inflation will eat away at it given the current rates).
The time is ripe to at the least invest some in a stock and shares ISA from your high-street bank. Good range of funds, generally good performance, many risk profiles (or self-selections).
Over a year I fill out my ISA allowance in a stocks and shares ISA (£8000 a year, I think?). I do self-select funds from the Halifax range, and I think my overall risk profile is Medium maybe bordering medium-high. I started about two years ago and have since earned ~23% tax-free, which isn't bad.
As well as that, I then put £400 a month into a non-ISA stocks and shares account, again from Halifax, but in low-medium spread of funds.
The rest, I do my own share dealing.
With the amounts you are talking about and at your age, you don't have much to lose by just going to your favourite bank, booking an appointment with an advisor and getting a lesson in stocks and shares ISAs and risks (rather than spending 6 months swatting up and dipping into your own exchange traded funds). The advisers are generally well regulated and in my experience are in no way pushy.
Good luck
Edit: Also, start a stake holder pension, especially if you're a higher-rate tax payer
Caporegime
Hmm you seem to think Red is the better option there with your subtle power of suggestion.
Soldato
You only made this thread to brag about your monies. Don't deny it.
Caporegime
Precious metals or gold mining companies
Soldato
Are you informed and side with the opinion that gold mining companies, or just guessing that high gold price makes mining companies a good investment?
The higher the market price of gold, (generally) the higher the risk for an investor when investing in gold mining companies.