I have 80K and I'm young , what to do ?

Prism

roadblock15 wrote: »

Pie in the sky, 80k must be a typo for £80... no money in self employment in England these days.

Tell that to all of the contractors doing very nicely

Ballard

roadblock15 wrote: »

I do music albums on usb stick or memory card, £1 an album but this month I have a special offer of 10 albums for £10, pm if interested. I also do software and hardware

What’s you plan if you get caught?

toomsie

savage444 wrote: »

I sell products with shopify . you've probably seen my adds on Facebook lol .

Loads of Youtubers say, 'invest in yourself'. Invest in your training and education. Invest in a PA if you don't have one. Any other areas of your business that can capitalize on that money.

You can use the money to diversify your product range and experiment with something slightly different.

Perhaps putting more money into marketing can help you. If you are not sure what the best way to do that, then get an expert marketer. Have you covered all platforms Snapchat, Instagram, youtube or steam?

You can make some professional youtube videos or work with Youtubers if they are reviewing same products.

Any automation software that can help you, such as multichannel fulfillment, and Amazon FBA.

Excellent work.

toomsie

roadblock15 wrote: »

Pie in the sky, 80k must be a typo for £80... no money in self employment in England these days.

Internet market share is growing. That means more customers. I would like to know your story. Your experience internet based.

The Internet is different than the high street. A shop on the high street can have their own monopoly in a given geography. Ordinary tradespeople had a chance.

However, on the internet ordinariness is getting slaughtered. There is too much competition amongst regular folk. There is always someone out there willing to do what you do for a lot less money on the internet. Aliexpress + Shopify is an example.

savage444

Hi guys thanks for all your replies . I have 80k in my account cash after tax its pure spendable/ investable money I'm aware of fees that will pop up due to bank charges and accountant fees ect. but there not much . i don't plan on putting into a retirement scheme as I don't trust them and believe that you should make your own retirement fund by hard working years . Help 2 buy schemes also seem like there little bit stupid as there's so many things that make it more difficult than just buying a house. I've invested £15k into crypto currency and lucky i bought at the low so that's a long term investment sorted but like i said i still have 80k left.

savage444

And no guys i don't sell pirate copy DVDS at the car boot lol

savage444

Thrugelmir wrote: »

Isn't your accountant giving you some advice or at least direction?

to be honest i haven't spoke to him much about it really. i just think that if he knows how to make money into more money why is he at work lol . he has told me the basics but nothing that seems like it will work the best for me . such as buy gold and bonds etc .

System

Courtesy of the UK Personal Finance Reddit....

Prism

savage444 wrote: »

Hi guys thanks for all your replies . I have 80k in my account cash after tax its pure spendable/ investable money .

Hang on a sec. Earlier in the thread you said this cash was in your limited companies account. Now you say its in your account. Which one is it because its changes the situation a lot depending?

savage444

well i have a business bank account in my name im the full shareholder of my ltd company .my accountant set it up for me . i hope that you guys understand