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Young man need's advice
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You call it bonkers but others might call it smart.
And it's certainly possible to build up shares with little income. Have a look at sites like share.com / sharebuilder.com
I think you've got this all wrong. It's not ME who needs to look at these sites. I'm not the one trying to turn my state benefits into millions. It's YOU. And good luck with that.0 -
Onawingandaprayer wrote: »I did see that. and investing £116 per month in shares will, I'm afraid, earn you diddly-squat, even were it possible.
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It is possible and it's not true that £116 will earn diddly squat.
It is true that it won't happen for many years but share based investment is ideal for get rich slowly plans.Remember the saying: if it looks too good to be true it almost certainly is.0 -
Onawingandaprayer wrote: »I think you've got this all wrong. It's not ME who needs to look at these sites. I'm not the one trying to turn my state benefits into millions. It's YOU. And good luck with that.
I'm not after millions. I'd just like some where to live where I can own a dog, like a small house with a garden. I don't think that's asking for too much. I'm 24 years old and fed up of being cramped up in the studio flat I'm in.0 -
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Being of a 'certain age', your attitude makes me sick. When I think of the hardships that my parents went through when there were no benefits ! They lived with parents, then rented and sat on boxes ...etc (yes, sounds like the Python sketch, but true).
There is always some sort of job out there. Not ideal I know, but a job. Then you look for something better. Surely you must be 'seen' to be looking for a job, or are you just playing the system ?
Don't want the menia/warehouse/Agency/minimum rate job (who does!), then it training/qualifications/etc.
There is no easy route. I am suprised that you have any spare money on that income. You say 440 p/mth. I bet the rent is paid too.
Get realistic. Forget about shares/schemes. 99.999% of people have worked/saved and yes been lucky perhaps with rising house prices say, then downsizing.
I remember at your age it was all going to be rosey, but that aint life mate. Things go wrong. Ilness, divorce, death of family. Oh, you have so much to live for/through, some good,, some bad. Apart from the odd bit of luck, it's alll down to you though, it won't just happen0 -
We'll leave the bonkers people to carry on investing and making money long term.
And leave the smart ones to dream of their fortune on benefits.
Long term as in waiting decades before owning your own place? My friend same age as me already has his own 2 bedroom flat.Being of a 'certain age', your attitude makes me sick. When I think of the hardships that my parents went through when there were no benefits ! They lived with parents, then rented and sat on boxes ...etc (yes, sounds like the Python sketch, but true).
There is always some sort of job out there. Not ideal I know, but a job. Then you look for something better. Surely you must be 'seen' to be looking for a job, or are you just playing the system ?
Don't want the menia/warehouse/Agency/minimum rate job (who does!), then it training/qualifications/etc.
There is no easy route. I am suprised that you have any spare money on that income. You say 440 p/mth. I bet the rent is paid too.
Get realistic. Forget about shares/schemes. 99.999% of people have worked/saved and yes been lucky perhaps with rising house prices say, then downsizing.
I remember at your age it was all going to be rosey, but that aint life mate. Things go wrong. Ilness, divorce, death of family. Oh, you have so much to live for/through, some good,, some bad. Apart from the odd bit of luck, it's alll down to you though, it won't just happen
Sorry if that offends you but I refuse to go down the ordinary job route.
I would hate to work in an office or some dead end job. Because once your apart of that system it's very hard to get out. I also reject the notion of having to wait until I'm an old person to afford my own place.
I have spare money because my rent is mostly paid as I'm on disability benefits.0 -
Sorry if that offends you but I refuse to go down the ordinary job route.
Me too, and I'm now confident that I will retire without ever having had a job interview or written a CV.
However, I did get a good education and an engineering degree up front, and I did start my first company at age 21.
Dunno what your plan is, but based on my decades of investing experience, those seeking to get rich from speculative investments very rarely succeed.I am not a financial adviser and neither do I play one on television. I might occasionally give bad advice but at least it's free.
Like all religions, the Faith of the Invisible Pink Unicorns is based upon both logic and faith. We have faith that they are pink; we logically know that they are invisible because we can't see them.0 -
gadgetmind wrote: »Dunno what your plan is, but based on my decades of investing experience, those seeking to get rich from speculative investments very rarely succeed.
Especially those without enough motivation to do anything more than live on benefits at the age of 24.0 -
Long term as in waiting decades before owning your own place? My friend same age as me already has his own 2 bedroom flat.
On benefits, or working or with help from family/friends? How has he managed that, was it by investing £116 per month in shares and paying cash for the flat 2 years later?
Be realistic, a life on benefits will not get you a house that you own.
You have realised that, which is great, now you need to work out how to get from where you are to where you want to be.
Putting the moral question of whether taxpayers want to fund them or not, shares are ONE of many possible routes, and as others have said it will take many, many years to work out.
Other options, like working, will give you a much better chance of getting there.
If you don't want to work in an office get an outdoor job.
If you don't want to work for someone else start your own business and be self employed.0
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