21 Years old with £30,000.00 in Premium Bond is time to invest somewhere else?

topgearfan08

eviekins wrote: »

Not an investment banker...
Not reached the age of 26...
Not on a ''decent salary''...
Had 30k in the bank at 21...

To be honest, if living with parents, I don't understand why most people under 26 wouldn't have 30k accumulated.
However, since the gambling comment it does indeed sound as though the OP is yet another troll; but I don't think we should presume that a poster is trolling as soon as we hear of a young person with a 5 figure sum.

Same situation for me....Ive just turned 26 this year, earn 21k a year as of last year... Saved 92k in 8 years...

Im lucky that I could live at home rent free, and I don't go out boozing every weekend, so could save a decent sum.

topgearfan08

innovate wrote: »

Sorry, but that is terrible advise. If all someone has is £30K it would be sheer lunacy to throw it all at a BTL. The first hurdle would be to get a BTL mortgage but even if that was possible it would be a stupid thing to do for someone who has no emergency fund, own place to live in, or pension. Not to talk about an understanding of what is involved in being a landlord, never mind having experience of being one.

Agreed, It appears most people severely underestimate what is actually involved in being a landlord, and the risks attached. Not for the feint hearted. (first hand experience from the Family business)

tell_it_how_it_is

topgearfan08 wrote: »

Same situation for me....Ive just turned 26 this year, earn 21k a year as of last year... Saved 92k in 8 years...

Im lucky that I could live at home rent free, and I don't go out boozing every weekend, so could save a decent sum.

Fair play to you, that's some going, but one question ... could we all go and live with your parents for a few years?

innovate

tell_it_how_it_is wrote: »

... could we all go and live with your parents for a few years?

If they have a heated swimming pool, sauna and gym, I could also be interested.

droopsnoot

stuckindoor11 wrote: »

Thanks for the advice. If you don't believe me lets have a bet. If i can't prove i have this you pay me the £300 i lost? Ok?

Hang on, if you can't prove you have the PBs, we give you £300?

Nice try.

bigadaj

droopsnoot wrote: »

Hang on, if you can't prove you have the PBs, we give you £300?

Nice try.

That may have been how he lost the £300 originally.