Financial question for fellow UK brothers (investing)

TheTimelessUsername · 2019-07-15T20:18:59+00:00

Use that money to invest in stocks. In my opinion, I would use the money to invest in an index fund since you can just set it and forget it.

Edit: Just read the comment below and don't want to be liable for a criminal offence. This is just my uneducated opinion and you should talk to a professional.

monkeemagik · 2019-07-15T21:02:06+00:00

I just wanted to chime in and say that if you’re not at least pulling at least £2,000/year in interest on savings alone, you shouldn’t even consider at-risk investments yet, even if they’re said to be “low-risk”. This is because you should start off by building up a no-risk base which definitely maxes out all of your tax free allowances through both cash ISA and personal savings limits.

Talk to your bank and they’ll explain the order of priorities based on risk vs. reward. I was advised to wait until I had £150,000 total to play with then mix the levels of risk.

peripheral_factors · 2019-07-15T21:56:08+00:00

Perhaps not exactly what you're looking for, but I recommend reading a book called The Richest Man in Babylon.

It won't give you specific advice on what to invest in, but it will get you in the right mindset to start making your money work for you.

As other posters have pointed out how you invest your money depends on your appetite for risk.

hagbard51 · 2019-07-16T06:01:19+00:00

Nov 18 I opened an S&S ISA with a Vanguard LifeStrategy 80:20 fund. Prior to doing so I read the following books:

Your Money or Your Life The Simple Path to Wealth The Millionaire Next Door The Richest Man in Babylon Smarter Investing Reset

For the first time in my life (53yrs) I have no debt and my investments generate me income. As I believe Warren Buffet said:

“If you don’t learn how to make money whilst your asleep, you’ll work till you die”

All I’ll say is that my brother is on his third marriage, is approaching 60 and he is physically and financially broken. He admitted to me that his mortgage won’t be paid off until he’s 73, meaning he HAS to work a job that gives him lots of stress for a small pay packet until then.

Yes investing is a risk and markets go down as well as up, but a bigger risk IMO is waking up aged 65 with no savings, no investment and having to work jobs I hate in order to survive. I’ll take my chances.

Many people, including family, tell me that investing won’t work and I’ll lose all my money. The same people with consumer debt, no savings and a ‘keeping up with the Jones’ mentality.

As far as I’m concerned, maybe I won’t end up with half a million + that I can live off the interest of in my dotage (my target), instead I might only have £100K sat around, well golly gosh, ANY amount of cash over a few thousand gives one options and that is the crucial point to me.

Best of luck to you and I really do recommend those books above.

JazzMgtow · 2019-07-15T19:50:43+00:00

Fellow Brit here, just as clueless.

+1 to the above.

monkeemagik · 2019-07-15T19:53:44+00:00

Are you sure that getting investment advice from the MGTOW sub from random ppl a good idea? Not only that but giving investment advice in the UK unlicensed is a criminal offence. Go and do some research there are plenty of qualified and experienced advisors that can help you achieve your financial goals. Good luck. 👍🏻

theoracleofosiris · 2019-07-16T00:36:11+00:00

I don’t trust index funds rn. Too much passive investing without looking at fundamentals. Too many noobs know about it and are DCAing into it.

Too many boomers retiring in waves from 2008 to 2027.

bkk123 · 2019-07-16T05:18:17+00:00

I think a crash is most likely coming within a year, so it's best to put money in a high interest savings account. The interest is not huge (2.x%) but it beats inflation.

The market is extremely overvalued right now and I don't see this continuing much further.

Don't blame me if I'm wrong, but all signs are pointing towards a recession to me.

If you should forgoe my advice, vanguard has tax free ISA accounts (up to 20k per year): https://www.vanguardinvestor.co.uk/home

Title	Financial question for fellow UK brothers (investing)
Author	Throwaway258719
Upvotes	9
Comments	10
Date	July 15, 2019 7:44 PM UTC (7 years ago)
Subreddit	Posted in /r/MGTOW
Original Link	https://old.reddit.com/r/MGTOW/comments/cdme0z/financial_question_for_fellow_uk_brothers/
Archive Link	https://theredarchive.com/r/MGTOW/financial-question-for-fellow-uk-brothers.427456 https://theredarchive.com/post/427456

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