Wealth creation - anyone interested?

savingforoz

rick59 wrote:

tom stop that picture moving about its making me feel sick

Looking at the beer bottle next to Tom, I expect he does too....

Took the plunge on Friday and and maxed out my ISA allowance by putting £4,000 into a fund, one that's quite high risk but which hopefully could give very good returns...come next week and the start of the new financial year will be opening a maxi ISA for next year. Plans for April include checking out other possible sources of income streams and looking at what I can do to maximise my income.

babe_ruth_3

tom stop that picture moving about its making me feel sick

MORPH3US has same effect on me

Any one know how to change edit (at bottom of page) to thanks?

Thanks

jo_b_2

babe_ruth wrote:

Any one know how to change edit (at bottom of page) to thanks?

Thanks

Everybody sees 'Edit' on their own posts and 'Thanks' on other people's. You can only edit your own posts and thank other people's.

nicoliyah

Yes I have read rich dad poor dad, it is an excellent book that is a really good starting point for people who are interested in wealth creation. Am currently reading the millionaire mind, which gives fascinating insight into the minds of milionaires and their everyday habits. I feel a bit of a unqualified to recommend wealth creation books, since I am up to my eyeballs in debt :eek: but i am aware that until I tackle my debt and my rampant consumerism, I will be unable to turn it around and start making rather than earning money (but thats a whole other thread!) :rotfl:

nicoliyah

Hi there, I too am really interested in investing in sectors, as opposed to trackers or individual shares (particularly environmently friendly or ethical companies) Any info that you have in where to go to find out more about this would be greatly appreciated. Got some shares through my old job (an estate agent) that are doing really well, and it has given me the bug.

Debtfree_Nessie

I've been reading this thread with great interest. Not in debt but need to work on my stewardship of the money I have. It seems to slip through my fingers quicker than butter!!!.

Suppose the first place to start is to find out how much I have and where it is and then keep a careful eye on it. If I don't who will?.

The shares I have were bought through an IFA didn't have the nerve to do it for myself. Looking at this thread realise that it isn't nerve I need only time to find out the information for myself and act on.

Just to say thanks to you all for your info.

savingforoz

Hi Nicoliyah, I've found https://www.trustnet.com very helpful, as you can check out funds in different sectors, including ethical. Now I know the thing about past performance not being a guide etc, but the site gives lots of useful info about funds. Something I've picked up from the book Fundology is the importance of checking the fund manager's performance, which can be done on https://www.citywire.co.uk.

It can be nerve wracking buying funds if you're a novice - my first and so far only fund went down slightly in the week :eek: and I immediately gave myself a hard time and started worrying, which is quite daft. I need to stop checking it every 5 minutes! The plan is to monitor them regularly, however, and switch if I think any downturn willc ontinue.

I've been told Moneyweek magazine is good for investors so I've signed up for a free 3 week trial.

Am currently working on a strategy for when the current bull market goes pear shaped, and also on financial goals. Have decided to go back to work full time for the short term until I sort a long term financial plan, to boost my monthly income.

How is everyone else doing on the wealth creation front?

stevo84_2

Hey folks,

Im new to the forum but very interested in incresing my income as I anticipate a struggle with my new morgage!

I am currently looking in to matched betting, ebooks, internet marketing and stoozing.

I have 2 new 0% cards on their way ready to start stoozing (thanks for all the help in stoozers forum guys :beer: !!), am currently in the middle of writing my first ebook, am starting matched betting tomorrow and have just completed my first internet marketing website!!

I dont know if anyone is interested but using google adwords is supposed to be a great way of making money from current websites. I have developed a few sites with this in mind :: Websites with advertising removed - FM :: which use this concept.

I have made no real gains to talk about from the sites yet but they have only been running for a month and I am still learning.

I am also thinking of writing an ebook of my experiences of internet marketing within the next couple of months to detail my experiences and help others.

I will keep you all posted with details of my progress in the above fields.

Good luck to everyone and if I can be of any help please dont hesitate to shout!

Cheers all

Steve

[Deleted User]

Hi guys - how are you all doing? It has been a while since there have been any updates on the thread. I'd be interested to hear about what's worked for you :T and what's not:eek: .

WR

savingforoz

Hi Wild Rover

Nothing new to report from me on the wealth creation front - have done most of the legwork in setting up standing orders to investment vehicles etc. I have defined my investment targets, how I intend to get there, what to do when the market downturns (although I think I need to do more work on this), what rate of return I need to achieve etc. As one of the other posters said, unless you win the lottery or inherit etc there's no quick and easy way to wealth creation. Now I've made a start, I just have to keep my feet on the path ahead. I have a very tangible goal in mind (retirement to Australia, which means meeting their financial requirements, which aren't low!) to keep me motivated.

I still wish to buy investment property at some stage but feel that now isn't the right time.

What are you up to, Wild Rover?