Help!! What should I do with my redundancy money

cepheus

Obviously if you have any debts which you are paying a high rate of interest on pay these off first.

Presumably you will need to find another day job before deciding what to do with it.

In the meantime just place most of it in to account(s) earning reasonable interest and use it frugally.

Batchy

If you think you can get into a pub and NOT WORK pay others to do it for you, THEN... think again!!!

Then again, if you want to get the leasehold on the pub, work all the hours, socialising, and working hard, and entertaining, plus not having rent to pay as its included in the property, no expenses, only a council tax bill. Then your sorted. your 20k you might earn as Net profit can go into savings, or pension pots, which is not touchable by creditors. You can build up a nice lump sum which is protected from creditors. Over a few years!

its all depends.

Most of the people I know have failed in pubs as they thought that they done all the hard work, and thought the pub was self sustainable. But you have to continue to manage staff, costs, stocks and punters... and how you would expect to be able to do this, paying pitance for staff and not being present in the pub itself is beyond me.

its workable for however long you want, while you make the effort, but when you stop the effort, dont expect it to be easy!

the red tape is a joke, doormen costs are huge along with DJing costs, for an increased take of £700, your incurring 300 quid of extra costs straight up. hardly worth it unless you can really increase the take... Football world cup is going to be a great period to profit from ;-)

however, be prepared for hard work sweat and tears.