Ideas for saving 100-200k!

mlc2009

So in April I will have around 100k, maybe even 200k in savings. Now I could just keep all that in a savings account, but it wont do much for me. I hear people saying banks are crooks etc etc and I know they will be on my case when I have it

anyone got any good ideas on what to do with it?

Lokolo

- Spend it
- Buy a house
- See an IFA
- Burn it
- Roll in it

You haven't given anyone any sort of idea of yourself, what you own, what you earn, pensions, etc.etc.

mlc2009

Lokolo wrote: »

- Spend it
- Buy a house
- See an IFA
- Burn it
- Roll in it

You haven't given anyone any sort of idea of yourself, what you own, what you earn, pensions, etc.etc.

I do an ISA every year
No pension yet but will start next year
Single, 28 years old, no kids, no house yet

was thinking of buying a house, pay it all off without a mortgage. Im self employed, earning around 250k a year, it's steadily rising but because I'm self employed theres always a doubt that it could stop one day

Cleaver

mlc2009 wrote: »

I do an ISA every year
No pension yet but will start next year
Single, 28 years old, no kids, no house yet

was thinking of buying a house, pay it all off without a mortgage. Im self employed, earning around 250k a year, it's steadily rising but because I'm self employed theres always a doubt that it could stop one day

Just a couple of months ago you were only 26 and earning £60k. Then it changed to 30 years old just a month later. Your savings amount also seems to change to between £50k and £100k. Or maybe you managed to save £50k very quickly.

Just out of interest, what do you do for a living that makes you £250k a year as a self-employed twenty or thirty-something?

mlc2009 wrote: »

I'm 26 and still with parents ( no jokes please )

mlc2009 wrote: »

Im self employed and I'm earning 60k - 120k a year,

mlc2009 wrote: »

So here I'am, age 30 earning good money self employed. I only have a provisional as I dont need to drive and I dont have a passport, as I dont go abroad

mlc2009 wrote: »

I've had a bank account with them for 10 years and over 100k in savings.

mlc2009 wrote: »

Hi
I have around 50k plus in my natwest account,

mlc2009

Cleaver wrote: »

Just a couple of months ago you were only 26 and earning £60k. Then it changed to 30 years old just a month later. Your savings amount also seems to change to between £50k and £100k. Or maybe you managed to save £50k very quickly.

Just out of interest, what do you do for a living that makes you £250k a year as a self-employed twenty or thirty-something?

yes there is some confusion and I apologise. Instead of my brothers and sister signing up, they used my account as some form of advice rather than signing up themselves. I work in the adult industry running video websites, you've probably seen a few so my income is always fluctuating

Seems this year though it's risen very fast as I have created more and more websites

mike88

Its dillusional and the person lives in a world of fantasy. Perhaps he/she is expecting to win the lottery and has the foresight to plan in advance.

mlc2009

mike88 wrote: »

Its dillusional and the person lives in a world of fantasy. Perhaps he/she is expecting to win the lottery and has the foresight to plan in advance.

I've never put the lottery on

Cleaver

mlc2009 wrote: »

yes there is some confusion and I apologise. Instead of my brothers and sister signing up, they used my account as some form of advice rather than signing up themselves. I work in the adult industry running video websites, you've probably seen a few so my income is always fluctuating

Ahhh, okay, that does explain stuff.

Hey, that's weird, your 30 year old brother or sister also works from home and also has a massive amount of savings. A successful family it seems. Are they in the adult entertainment industry too? And, like most males, I have seen a few of these websites in my time.

Well, from your previous posts I can see that you're earning £250k and have £100k in savings. You currently live with your parents but are thinking of renting a flat in Manchester, but were put off by a £1,700 a year service charge. You also only have a provisional license and this is stopping you opening additional accounts with Barclays, who you have banked with for 10 years.

My advice for all of these would be:

• Just rent somewhere and pay the service charge. You earn £250,000 a year apparently so no flat in Manchester will be an issue. In fact it'll just be a fraction of your income.
• As you earn £250,000 and have £100,000 in savings I find it rather surprising that Barclays won't open another account for you. Most branches would be inviting you in for a glass of champers to discuss your banking options with that much income. Why don't you give them a call tomorrow and point this out?
• Learn to drive. It'll only cost you about £500 for a good intensive course, which is about a days income for you.
• See an IFA. Anyone earning quarter of a million a year and with capital of £100k should be getting professional advice.

Not sure why I wrote all this though, as I don't really believe you.

mlc2009

Cleaver wrote: »

Ahhh, okay, that does explain stuff.

Hey, that's weird, your 30 year old brother or sister also works from home and also has a massive amount of savings. A successful family it seems. Are they in the adult entertainment industry too? And, like most males, I have seen a few of these websites in my time.

Well, from your previous posts I can see that you're earning £250k and have £100k in savings. You currently live with your parents but are thinking of renting a flat in Manchester, but were put off by a £1,700 a year service charge. You also only have a provisional license and this is stopping you opening additional accounts with Barclays, who you have banked with for 10 years.

My advice for all of these would be:

• Just rent somewhere and pay the service charge. You earn £250,000 a year apparently so no flat in Manchester will be an issue. In fact it'll just be a fraction of your income.
• As you earn £250,000 and have £100,000 in savings I find it rather surprising that Barclays won't open another account for you. Most branches would be inviting you in for a glass of champers to discuss your banking options with that much income. Why don't you give them a call tomorrow and point this out?
• Learn to drive. It'll only cost you about £500 for a good intensive course, which is about a days income for you.
• See an IFA. Anyone earning quarter of a million a year and with capital of £100k should be getting professional advice.

Not sure why I wrote all this though, as I don't really believe you.

Hey, let me shed some more light on this

Barclays are always on my case, this is true. From reading posts on here though, there's a lot of people saying banks are bad etc. It was natwest who wouldn't open us a business account because provisional, barclays did no problem. It seems Natwest has a policy on this

Yes I'm earning good money now, but next year is could all stop. There may be many reasons for this, my merchant account could be closed because visa/mc are tightening rules on adult websites that they consider high risk, and there's no way a bank would give me a merchant account. This is why I worry a lot

Cleaver

mlc2009 wrote: »

Hey, let me shed some more light on this

Barclays are always on my case, this is true. From reading posts on here though, there's a lot of people saying banks are bad etc. It was Natwest who wouldnt open me a business account, this is because I have a provisional, Barclays opened me one no problem

Yes I'm earning good money now, but next year is could all stop. There may be many reasons for this, my merchant account could be closed because visa/mc are tightening rules on adult websites that they consider high risk, and there's no way a bank would give me a merchant account. This is why I worry a lot

Ahh, okay. Where did you end up renting in Manchester just out of interest?

mlc2009

Cleaver wrote: »

Ahh, okay. Where did you end up renting in Manchester just out of interest?

I got a small flat at jefferson place