What should I do with an extra monthly £1015 (1305 US dollars)?

Voyager2002

ExoticHaha wrote: »

Good day,
So I am a 19 year old and currently earning £1015 monthly (1304 US dollars) for doing nothing, no job or anything, and I will continue getting this money for the next 4 years.

Would you care to post something about your life plans and goals? For instance, living at home and not working or anything sounds rather sad: you could use (some of) that money to do a good internship in an exciting part of the world, or to finance a university degree somewhere exotic, or have a pretty good adventure holiday. In terms of investment I tend to think that the best option is to do things that will increase your earning capacity, so anything that involves learning useful skills is likely to show a higher rate of return than just about any financial investment available.

ExoticHaha

Voyager2002 wrote: »

-snip-

I apologise about my wording there what I meant is that I'm just getting the money for free but I'm still doing things with my life. I'm a computer science uni student. It was bad wording on my part, sorry.
Thanks for your reply, I am currently learning about investments, global asset funds etc.

snowqueen555

It's really important you find your risk tolerance, because if it is low then investing might not be for you. I think a lot of people like myself include think it will be fine, but when you see your investments go down you really start to see what your tolerance really is.

Some weeks have sen market indices swing 10-15% in a week, so think about how that might feel to you.

atush

unlike eskbanker, i would suggest that alongside cash you should start a S&S isa.

I would choose a global equity tracker at your age, and with no particualr plans for the money.

For your cash, look at interet paying current accounts, and regualr savers.