Discussion
Hi,
Not started a topic over here before so be gentle...
I've just finished my apprenticeship and come out of my time so to speak. I'm now earning fairly decent money with a fair bit left over each month. My only regular outgoing is a phone, gym, season ticket and a few other small bits.
However, I still live at home and obviously want to own my own property. Over the next few years, how would you go about it? Safe shares, ie use the dividends to increase your money or play it very safe and put it in an ISA, low returns however. I currently have over £2,000 in shares with various companies but I can't rely on them really, that's my 2/3 year gamble that may/may not come off as they are in pretty small companies that hopefully/probably won't strike it rich.
Are there any other options I have?
Not started a topic over here before so be gentle...
I've just finished my apprenticeship and come out of my time so to speak. I'm now earning fairly decent money with a fair bit left over each month. My only regular outgoing is a phone, gym, season ticket and a few other small bits.
However, I still live at home and obviously want to own my own property. Over the next few years, how would you go about it? Safe shares, ie use the dividends to increase your money or play it very safe and put it in an ISA, low returns however. I currently have over £2,000 in shares with various companies but I can't rely on them really, that's my 2/3 year gamble that may/may not come off as they are in pretty small companies that hopefully/probably won't strike it rich.
Are there any other options I have?
Well it's a simple choice really.
You either play it safe with normal deposit investments like ISA's etc. - or have a gamble that carries an element of risk, but could see you compounding your investment nicely if you choose right.
This has been, and will always be the way with regard to investing and recouping. There are no magic bullets - either play safe and get the return you expect, or play dangerous and either win or lose. Simple.
I played dangerous for 10 years, with only an initial sum of 10 grand. By being bullish, borrowing tens of thousands in loans and credit cards to leverage my projects, and risking total bankruptcy at the same time, saw me turn that 10 grand into my current property portfolio of 5 houses.
That said, when I started in 1999, markets and conditions were favourable - it wouldn't happen now obviously.
But there are still good gains to be had even now, if you are prepared to take a few risks.
You either play it safe with normal deposit investments like ISA's etc. - or have a gamble that carries an element of risk, but could see you compounding your investment nicely if you choose right.
This has been, and will always be the way with regard to investing and recouping. There are no magic bullets - either play safe and get the return you expect, or play dangerous and either win or lose. Simple.
I played dangerous for 10 years, with only an initial sum of 10 grand. By being bullish, borrowing tens of thousands in loans and credit cards to leverage my projects, and risking total bankruptcy at the same time, saw me turn that 10 grand into my current property portfolio of 5 houses.
That said, when I started in 1999, markets and conditions were favourable - it wouldn't happen now obviously.
But there are still good gains to be had even now, if you are prepared to take a few risks.
Okay, so it seems it is as simple as I first thought really.
I think I'm going to put 75% into an ISA ( £11,000+ tax free next year ) and 25% into safe shares ( Vodafone, Centrica, Shell, etc... )...
Even if I can match inflation I will be happy to be honest. I don't want to be able to afford less in 3/4 years than I can now with the same amount of money.
I think I'm going to put 75% into an ISA ( £11,000+ tax free next year ) and 25% into safe shares ( Vodafone, Centrica, Shell, etc... )...
Even if I can match inflation I will be happy to be honest. I don't want to be able to afford less in 3/4 years than I can now with the same amount of money.
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