If you had only £1000 spare to invest what would you do?

recci

I have around £1000 I can spare at the moment to start some sort of investment/savings scheme not much I know but plan to add to it over time. What would make decent gains without massive amounts of risk?

System

Open a savings account!

penguineater

Honestly I'd read up on crypto coins if I were you. There is so much profit being made although it's a bit of a gamble, lessened risk by doing research.


An example, I put £180 in raiblocks last week, now it's worth £580. I can cash it out right now and walk away with £400 profit, but instead I'll take out the original £180 and place it into other coins I think will increase in value.




OR something that is guaranteed, matched betting if you have not done it yet. There is an MSE subforum for it.

enjoyyourshoes

To encourage you to save regularly I would suggest:-

Regular savings account (have to open current a/c also)

But instead of drip feeding the £1000 at £300-250 per month, add more funds for you earnings (£217- 167 per month)

You could earn over £90+ interest in the year. Then you'd have £3600 to invest next year.

dividendhero

penguineater wrote: »

Honestly I'd read up on crypto coins if I were you. There is so much profit being made although it's a bit of a gamble, lessened risk by doing research.

The OP wrote ... What would make decent gains without massive amounts of risk?


Not sure how buying numbers in the hope of selling them for a profit fits in with the low risk aspect????

recci

penguineater wrote: »

Honestly I'd read up on crypto coins if I were you. There is so much profit being made although it's a bit of a gamble, lessened risk by doing research.


An example, I put £180 in raiblocks last week, now it's worth £580. I can cash it out right now and walk away with £400 profit, but instead I'll take out the original £180 and place it into other coins I think will increase in value.




OR something that is guaranteed, matched betting if you have not done it yet. There is an MSE subforum for it.

Im afraid iv been skunnered off crypto coins. I have 60 litecoins that I bought when they were $1 each just before the first bitcoin bubble. The price went up then crashed so I forgot about the litecoins and formatted my hard drive some time ago. I thought i had backed up the litecoin wallet but turns out i have everything except the wallet.dat file. I have scanned my drive with everything possible but I can never recover those 60 litecoins and its !!!!ed me off big time as they were $350 each last week. I also turned down hundreds of bitcoins back in 2010 when playing eve-online for in game assets :rotfl:

BananaRepublic

recci wrote: »

I have around £1000 I can spare at the moment to start some sort of investment/savings scheme not much I know but plan to add to it over time. What would make decent gains without massive amounts of risk?

The problem is that to make decent gains you need to take risks. But the great thing about equities in the less volatile markets is that risk reduces with time. So if you are prepared to invest for the long term, and ride out the crashes then a collective investment in for example the UK stock market is a good move. If you can’t handle risk, then bonds or a savings account, or NS&I. Investing is for people who passed the marshmallow test as children!

recci

BananaRepublic wrote: »

Investing is for people who passed the marshmallow test as children!

Whats does that mean?

enjoyyourshoes

https://en.wikipedia.org/wiki/Stanford_marshmallow_experiment

delayed gratification, Googled it as was intrigued

penguineater

dividendhero wrote: »

The OP wrote ... What would make decent gains without massive amounts of risk?


Not sure how buying numbers in the hope of selling them for a profit fits in with the low risk aspect????

Well it was an alternative choice to the other option I wrote.

recci wrote: »

Im afraid iv been skunnered off crypto coins. I have 60 litecoins that I bought when they were $1 each just before the first bitcoin bubble. The price went up then crashed so I forgot about the litecoins and formatted my hard drive some time ago. I thought i had backed up the litecoin wallet but turns out i have everything except the wallet.dat file. I have scanned my drive with everything possible but I can never recover those 60 litecoins and its !!!!ed me off big time as they were $350 each last week. I also turned down hundreds of bitcoins back in 2010 when playing eve-online for in game assets :rotfl:

Damn that sucks. I passed up on BTC in 2014 and regret it. Lesson learnt though, make multiple backups - this applies to all data and not just coins.

recci

The thing is with these savings accounts you need have a lot of money in them for it to be worth while for instance if I put the £1000 into an ISA with a 1.3% percent rate Id make £13 in a year. What is the point of that?