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Best thing to do with an investment of 10K

Discussion in 'The Lounge - Off Topic' started by Asterix, Aug 4, 2010.

  1. Asterix

    Asterix Megabyte Poster

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    Hey Guys,
    I currently have a mortgage with the missus and 10K in savings! Whilst she wants me to take her and the kids to Disney world, buy a new sofa, Flat-screen tele and new handbags, I would like to hang onto this cash and invest/multiply this amount although I am really unsure of what opportunities are there for a person with 10K.
    Anyone have any opinion on what they would do/ have done?

    Only things I can think of are to pay off the mortgage quicker (thus reducing further payments), buy a small franchise (although i feel IT in the long run will pay off 10 fold for me), do the house up to a better standard and increase the price of the house when we come to sell (Although not planning to sell within the next 10+ years).
     
  2. greenbrucelee
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    greenbrucelee Zettabyte Poster

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    well with the current stock market you will probably make **** all, either keep hold of it probably for the next 5 years before investing or let the wife spend it.
     
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  3. Sparky
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    Sparky Zettabyte Poster Moderator

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    Deposit on a Porsche 911……

    ….you only live once! :biggrin
     
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  4. Asterix

    Asterix Megabyte Poster

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    If i wait 5 years, ill get nagged to death and then she will have her own way with it anyway!

    You are correct, but I am quite fond of the 50MPG i get from my £4K Mitsubishi Carisma 1.9TD which is only clocking 20K! I am already fuming that i had to buy a new tyre at £50 to pass my MOT today! Maybe my missus is right and im really tight :dry
     
  5. Sparky
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    Sparky Zettabyte Poster Moderator

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    :eek:

    £50!!!!! bargin mate.

    Nae street cred though. :biggrin 8)
     
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  6. Asterix

    Asterix Megabyte Poster

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    Bagain????? :oops:

    The MOT itself cost £55 also :cry:
     
  7. zebulebu

    zebulebu Terabyte Poster

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    Simples. Ten grand's worth of BP shares. Give it two years, you'll have doubled your money. I bought 8k worth at 322.18. Currently trading at 421.65 after two months. Do the maths.
     
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  8. Sparky
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    Sparky Zettabyte Poster Moderator

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    Hee hee!

    Get the bus then :tongue
     
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  9. Asterix

    Asterix Megabyte Poster

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    I dont know anything about shares, am not the biggest risk taker and a quick google search brings up this article from a couple of moths ago which somwhat scares me! Linky

    How do you even go about buying shares :S
     
  10. BosonMichael
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    BosonMichael Yottabyte Poster

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    If there are no bills to pay off, I'd keep it as an emergency fund. You never know when you'll need it; Murphy likes to visit when you're least ready for him.
     
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  11. greenbrucelee
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    greenbrucelee Zettabyte Poster

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    Meh. Sparky is right get a 911 or an M3 screw the 50mpg what about 0-62 in 4.2 seconds? :D dont buy into the save the environment thing, its complete and total bollocks.
     
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  12. Asterix

    Asterix Megabyte Poster

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    Murphy?
     
  13. zebulebu

    zebulebu Terabyte Poster

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    For every one of those articles there are dozens saying the exact opposite.

    Think about it for a minute.

    BP's shares were, just four months ago, trading at double what they are now. They aren't going to go bust (nothing like it). The US government is making as much hay as possible out of the current situation ('persuaded' by the US oil lobbyists, who want nothing more than to remove BP's drilling rights in American territories, and off American shores). However, even if they succeed, and push BP to the brink - what's going to happen? A US oil company will come in and merge with BP - at which point the stocks will soar anyway. At any price under 440, BP is a long-term buy. I plan to sit on mine until the price hits 620 or so - selling then will make me around £6k richer (after tax).

    Buying stocks is simple. Open an online brokerage account (one that doesn't charge you monthly fees) - you can make trades up to a certain amount for a very low fee. Mine cost me about eight quid.
     
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  14. BosonMichael
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  15. cisco lab rat

    cisco lab rat Megabyte Poster

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    The holiday will suck and mickey mouse will flip you the finger and take everything, the sofa will suck and give you some sort of skin rash, the flat screen will break and then suck , but tescos do nice carrier bags.

    If you have 10k savings I would suggest you keep that as "insurance" money in case things go Pete tong, say if you and your missus lost your incomes, how long can you survive with no monthly wage coming in?, you can't return the holiday nor can you sell the sofa and the T.V.

    Don't be in such a hurry to invest, from my experience the best investments come along when you least expect them. And for the sake of your sanity stay at least 100 paces away from anything you do not understand. Shares, spread betting, forex etc, etc, no such thing as a quick buck if you have no idea of what you are doing, granted I know a few people that have cleaned up (excuse the pun) buying BP shares. be careful don't be drawn in by the promise of a quick profit.

    Chance prefers a prepared mind, keep thinking of how you can monitise your own skills and ideas will come.
     
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  16. Bri1981

    Bri1981 Byte Poster

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    I agree with Zeb, stick some in shares! I was in a few of the banks last year and made 4-5 times my money, some good gold, oil, exploration companies out there trading well below what they are worth.
    I use interactive investor as my broker (www.iii.co.uk) and IG Markets for my CFD's and spreadbetting.
     
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  17. veloce

    veloce Byte Poster

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    +1

    £10K ought to buy a nice TVR Tuscan or a Griffith!
     
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  18. Dazzo

    Dazzo Byte Poster

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    Go on holiday to Disney Florida! It'll cost you a bit but it's a lot better then the other ones and the kids will love it. Save the rest for rainy day's/emergencies or untill you have sufficient knowledge on how you want to invest it (and where:)) Don't be in a hurry just because it's there, I would be planning non stop to make sure i make the most of it, saying that I am interested in shares however wouldn't dare invest before I could safely say I knew a lot about them!

    But if you need a new sofa.....then you need a new sofa :)
     
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  19. j1mgg

    j1mgg Kilobyte Poster

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    i would go with the risk and put maybe £5k in shares and probably BP. As long as you dont need the money then it doesnt really matter if you have to sit with it in shares for 5 years. As said in 5 years time these shares will be back to what they were normally if not quicker and you will of made a decent profit. It was the same with RBS when the shares were about 40p, if you didnt need your saving there and then and could wait 5 years then buy them up.

    The other £5k I would try and get an account that you could offset against your mortgage. It means if you do need it in emergency case you can withdraw it but until then it will be reducing your term.
     
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  20. billyr

    billyr Kilobyte Poster

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    The interactive investor account is easy to use. Have a look at companies like Rockhopper, Desire etc sniffing around the Falklands at the moment for oil. B.P is also a good long term bet as mentioned
     
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