What to do with £10,000 pounds

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Scuzi said:
On second thoughts, thats enough money to get you a PPL (Private pilots licence). Do you fancy taking up flying as a hobby?


now there is a idea always fancied flying a light aircraft
i used to spend hours on Flight Sim :)

cheers this may be the winner
but will still take other suggestions
 
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Shifter_Hull said:
now there is a idea always fancied flying a light aircraft
i used to spend hours on Flight Sim :)

cheers this may be the winner
but will still take other suggestions

:eek: If i was you id invest that into some assets then use the extra income the assets produce to get a pilots license. That way your money will still keep growing.

If you spend it now thats it, its all gone! let it grow my friend! Let your money work for YOU!
 
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stigggeh said:
job done... put it away as a uni fund or house deposit for them...


thats a good suggestion too
but the children all got a money today from my aunt and its states in the letter received from her that the money has to be spent on the education

but i may keep the money for there years a uni
 
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Since it seems you don't really need the money I think you should put it somewhere safe for the kids. It seems pointless to spend the money on something you don't really want/need.
 
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I do find these threads a little strange. Surely what someone does with their own money is a personal matter for them, and only they have the answer to.
 
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dirtydog said:
I do find these threads a little strange. Surely what someone does with their own money is a personal matter for them, and only they have the answer to.

/starts thread...

"How should I eat my sandwich?"

Of course, having a sandwich to eat doesn't have the same as having 10k that you simply COULDN'T IMAGINE what to do with...
 
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i will bank it monday Afternoon and ask for some advice there but like all other banks Lloydstsb they can only tell you what products they have


we make a appointment with the branch
 
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Scuzi said:
On second thoughts, thats enough money to get you a PPL (Private pilots licence). Do you fancy taking up flying as a hobby?
Do Do DOO it, take the mans advice it's the most amazing thing in the world, i strongly suggest you take this up, especially on lazy sundays... cars are for whimps, jump in a plane and go out for a couple of hours.
 
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Shifter_Hull said:
i have a newish Car a have been with the wife in Nov 2006to the far east for over 4 weeks Singapore and Honk gong
so i a bit stumped i give to charity every month out of my salary
i don't want to waste it on casinos

Hows singapore and Hong Kong? :D
 
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cleanbluesky said:
Yeah, that's what I thought. Someone with so much money and no idea what he has it for (or how to spend more of it) wouldn't do something that they couldn't account gain from

I should have posted. Through past experiences I have always found that money should not be spent immediately, ill give you an example rather then waffling on.

Lets say i win $10,000 on the lotto, Most people would probably spend it but the wiser thing to do would to put it into assets.

Lets say i purchase the following amount of 'assets'

Stock in startups: 2500 - 7/10 risk
High yielding Bonds: 3000 - 5/10 risk
Mutual Funds: 1000 - 2/10 risk
Venture Capitalist Trusts: 2500 - 6/10 risk
Diversified Fund : 1000 - 3/10 risk

Now lets say taking into account potential losses we are receiving a 25% return on our money, which with the above portfolio is very very achievable i have made $2500 for doing absolutely nothing.

Now with that $2500 i would buy something i like maybe a holiday etc but even though i have spent some money on a holiday my initial investment is still working for me.

Win Win Win

And with what your telling me you can place that money in much higher risk investments with the potential to gain a lot lot more then 25%

A fund that i personally is the Merrill Lynch MLIIF Emerging Europe Q Acc USD its has grown by over 430% in the last five years. It has no minimum investment limits and very few charges if any. Cracking fund :)
 
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Psyk said:
Since it seems you don't really need the money I think you should put it somewhere safe for the kids. It seems pointless to spend the money on something you don't really want/need.

I'd argue it depends entirely on the situation. If the OP already has significant savings etc, and his children already have finances (which his posts suggest), then spending it on something you enjoy isn't pointless at all. As I said, life can throw you a curveball at points, so if you're genuinely in the position to do something today, don't put it off until tomorrow, because you may not be able to do it tomorrow.

That doesn't mean you're irresponsible with it, there's nothing wrong with doing something you'll enjoy, provided everything else in already covered.
 
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