1 million to invest

82much

longleggedhair wrote: »

Yes quite true, although its becoming a more frequent occurance people on the forum claiming to have untold fortunes, although perhaps im getting cynical in my old age!

It struck me as odd that someone in a high salary occupation, has made such a good investment in a business to have a million to now invest - has an accountant but doesn't know how to find a financial advisor and comes on here for advice. Erm his accountant is the first place to ask!!

82much

From earlier posts he has changed his name from Jim to Bill.....didn't read any more - nuff said......

jamesd

82much wrote: »

From earlier posts he has changed his name from Jim to Bill.....didn't read any more - nuff said......

And Barry Lets consider the fist unedited post made here with the account back on 27 July 2008:

plinth wrote: »

Hello all I am a first time poster thats perplexed by mortgages-me and my partner started a business up 2 years ago

And two from this topic:

plinth wrote: »

yes indeed I was a university lecturer the business was on the side and I invested about 6 years ago with 2 friends who worked full time in the business but shareholding was 33% each-it was purchased by a private equity firm

plinth wrote: »

I have recently sold my company for 5 million pounds I was a third owner so am due 1.5 million pounds

The question is interesting and whether as accurate as the timings suggest or fantasy it's still an interesting question. The amounts certainly aren't unreasonable for people with ownership or just employee share options in a startup company.

gadgetmind

82much wrote: »

but doesn't know how to find a financial advisor

Would an IFA ever suggest BTLs? Even Investment Trusts and low-cost trackers barely merit a mention, so perhaps the OT wanted a variety of opinions from those who've been in more than a few rounds with the investment industry?

plinth

jamesd wrote: »

And Barry Lets consider the fist unedited post made here with the account back on 27 July 2008:



And two from this topic:



The question is interesting and whether as accurate as the timings suggest or fantasy it's still an interesting question. The amounts certainly aren't unreasonable for people with ownership or just employee share options in a startup company.

Its Sherlock Holmes ha ha the reason I initially used fake names was I didn’t want my personal details in the public domain so I needed to protect myself as I was employed and took no chances now I am no longer employed so can use my real name very simple. I may be out by a year on the dates we set up the business in Jan 2006. At that point we realised we had no clue about finances and took in 2 business partners (to help grow it) it was done on an equity stake so they invested what we did. That simple they grew the business and the rest is history as they say.
Anyway I am not financially savvy and have spoken to our accountant who gave me some advice, I also spoke to some financial advisers who gave me the same and I put it on this forum. The issue is I am risk averse so I will double and triple check my options and the information and advise people give me-this is a check and balance exercise. So to be honest I don’t really care if you don’t believe me but it’s real. The issue has been raised that 1 million is a vast sum of money but not enough to retire on or semi retire on without smart and prudent investment. If you look at the discussion board it has generated that information which I will again discuss with independent financial advisers and my accountant .

gadgetmind

If you're tempted to go the BTL route, then I suggest you read "
Successful Property Letting - How to Make Money in Buy to Let" by David Lawrenson. This will give you an idea of the amount of hassle and work that's involved unless you pay someone to do it for you.

Also stick a copy of "Smarter Investing" by Tim Hale on the Amazon order. The most interesting section for you might be the tables on how much per annum you can sustainably draw from portfolios with various asset allocations.

atush

I agree with gadget, you need to read up.

Don't get me wrong, I have been thinking of BTL, and will be doing so- esp using James idea of fixing up cheaper properties to increase equity. But, I have experience having built my own home. For you, I would read up and start out small. Buy one, fix it up, let it out. /then think about another. You will need time to buld p knowledge, experience and most important contacts and a reliable builder.

And don't worry abt the name change. It is very unwise to use real personal details such as name in an internet forum. I was cyberstalked once and it was unpleasant. Would have been far worse if they had known my real name and location.

plinth

Thank you again for your advise I am meeting with a few independant financial advisers next week-lets see what they say!!

Ifts

Saw this article over on Motley Fool website and it reminded me of your thread:

http://www.fool.co.uk/news/investing/2012/02/01/what-would-you-do-with-a-1m-windfall.aspx

Might be of interest to you, also plenty of comments from readers at the bottom.