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Investing
Former Member
Posts: 1,876,323 The Mix Honorary Guru
Hi :wave:
I'm more of a saver than a spender, and I have been thinking for a while about possibly investing some money into something. I'm quite interested in coins and have been looking at gold sovereigns and bullion, but i'm totally new to it all, so don't want to get something and regret it, but I know whatever I do would be a bit of a gamble. Does anybody else do something similar? If so, what kind of thing do you invest in and how's it going? Any advice would be good. thanks. :cool:
I'm more of a saver than a spender, and I have been thinking for a while about possibly investing some money into something. I'm quite interested in coins and have been looking at gold sovereigns and bullion, but i'm totally new to it all, so don't want to get something and regret it, but I know whatever I do would be a bit of a gamble. Does anybody else do something similar? If so, what kind of thing do you invest in and how's it going? Any advice would be good. thanks. :cool:
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Comments
Yup.
I'm pouring most of my spare cash into building my ISA. My friend who is super into investing always recommends Index Tracker Funds, which are lower returns than manual trading shares but are a bit less risky. Not risk free though.
I think that before doing any actual investing it's better to save and make sure that a) You have several months worth, if not a year, of living costs saved up b) you are funding your retirement through a personal pension.
This is called speculating generally, it's not bad per se, its just far riskier. You are basically betting that the price of a security will go in a certain direction.
Investing tends to be buying assets that have a good likelihood of appreciating and/or returning a dividend.
Two examples:
A speculator buys dollars because they think an upcoming US economic announcement is good, which will increase the price of dollars - afterwards they can sell.
An investor buys shares in a group of companies in different industries that have a solid record of a 5% dividend and a 5% annual price growth.
Speculating tends to be short term, investing tends to be long term / perpetual (many people will just lock away investments so they can draw them down in eventual retirement).
As Infinite says a good way to get into investing is with indexes, which divide your investment equally across many companies (depends on the index as to the specifics) without you having to do the hard work.
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By trawling I mean finding bad listings and buying them. By flipping, it means buy something that is either mispriced or has a really crap listing, give it a really nice listing and a good price, you make the difference.
So for example one person I know buys collection only furniture with shit photos, bids £5 and wins, goes and collects it, polishes it and cleans it up, relists as a classified listing for say £100 including delivery and then just arranges delivery with a courier for not an obscene amount. But he likes furniture so its a bit of a hobby, which is why he knows which things are truly tat and which things you could sell for more.
From your picture you like bikes? Maybe you could look into whats being bought and sold on ebay for motorbikes, and then simply buy stuff which is priced very low, make it look brand new, and re-sell it on at a higher price.
Genius idea