I have £1000 to invest initially and £200 a month. I dont really care about the £1000 so I was thinking of going for some high/medium risk shares and pulling out if they pay off. With such a small amount of money I think high risk is the best way to go to get me started. I have a share dealing account with Hoodless Brennan and have just opened an advisory account with them. What do you think? Any comments or advice much appreciated.
2007-01-10 20:47:36 · 11 answers · asked by ap 1 in Business & Finance ➔ Investing
Firstly, I would say don't open an advisoy account, they're not worth the money, most of the advice is BULLSHIT. Also, I wouldn't restrict your finances just to one asset class, I would diversify, maybe stick some in shares, some in fixed income investments, with different risk strategies. You can get all these through a high street bank, but probably would be better off shopping around. Like you could probably stick a bit into a METAL fund, or commodity fund, whatever. I think stock prices are running out of steam, and you've missed MOST of the rally!
2007-01-10 20:52:26 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Ok I know you have said you want high risk but a good place to start would be with an ISA. At the moment you can get 5.55% with a National Savings & Investments Direct ISA. They base there ISA on the Bank of England rate +0.55% and since this base rate has just gone to 5.25% this ISA will jump to 5.8%. It won't make you loads but you can open it with £1000 and put in the next £200 each month for 10 months. End result cash free savings and a pretty good rate.
2007-01-11 07:55:57 · answer #2 · answered by Mike S 1 · 0⤊ 0⤋
ISA's! I know you say its a small amount of money - but still, do you want to risk losing it? I'd build up my savings for a time, then hive off some of the money to play around with on the stock market - how about the ISA which is linked to stocks - at least you won't pay tax!!? It would be a good introduction to stocks and shares - incidently are you so confident about the markets right now to put your money into them? The thrill of the risk it must be!
2007-01-11 02:31:18 · answer #3 · answered by Boo 3 · 0⤊ 0⤋
Above all do not Invest it in a mutual fund recommended by a financial adviser. He and the managers will take about 6.5% after 1 year and 48% after 40 years. Incredible but true. What is more performance is not guaranteed, only what they take from you is.
2007-01-11 10:33:39 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Great Question....OK...First If your employeed and working..Here is my answer...ROTH IRA... Put in the 1000 to open account...then every year there after you can put in as much as 2500 or nothing..The IRA (ROTH) can't be touched until your 59 and a half...Here's the best part...all the money the account makes for you over the years...is tax free...when you reach the age i mentioned and you start to pull the money out...it isn't considered income and is simply tax free...Remember..when you ask for this IRA....ITS CALLED A ROTH...Other ira's don't work like this one..A senator from one of our states got the bill passed a while ago...
2007-01-11 00:24:17 · answer #5 · answered by overhereyoupretty 3 · 0⤊ 0⤋
Hi,
Don't listen any so called "experts" or "advisors". They all do mistakes like the rest people. I think they don't believe in their own forecast otherwise they would start their own trading, which is more profitable than making forecast.
Why don’t you start your own forex or shares trading? I could introduce you to one brokerage company in Austria that allows to trade online from same account currency (forex), commodities, metals and cfd on shares. Total 500 instruments available; spread from 1 pip. If you open trading account under my referral I provide you for free with trading techniques that I successfully use for several years.
Currency (forex) trading is attractive because it is very high income and you could trade from any place in the world and at any time from Sunday night to Friday night. So you could create really huge income.
Another way you could find trader who accepts private investments and invest with him/her.
If you are interesting and/or have any question please pm or e-mail me (press on my name) and I provide you with further information.
Good luck!
2007-01-10 20:58:48 · answer #6 · answered by VP 3 · 0⤊ 0⤋
I would put a couple of hundred quid in the post office premium bonds, the rest i would buy a mini cash ISA as you could earn quite a bit back if you go for a low risk plan, its based on shares that your plan backs and if they do well you do well. you can't really lose
2007-01-10 20:57:00 · answer #7 · answered by Elaina k 2 · 0⤊ 0⤋
put the £1000 in premium bonds. you cant lose and you can win money as they have a prize draw each month. i won £50 already
2007-01-10 20:52:00 · answer #8 · answered by Anonymous · 0⤊ 0⤋
Thats a lot of money please pay off those you owe, credit cards, you be suprised how much you will end up with. I would not use my money to advice from anyone these advisors are just human most of the information they give may sink you.
2007-01-11 03:07:11 · answer #9 · answered by cool runings 3 · 0⤊ 0⤋
If you want to see your money grow, check out https://www.globalonlinedepository.com/?ref=monhollister . They have a calculator under loan plans and rates that you can use to see how much you can make in just one year. It is more risky than a bank, but no worse than the stock market.
2007-01-11 03:10:18 · answer #10 · answered by mjwh35 1 · 0⤊ 1⤋