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Investing £50K - any advice please?
mikeyw
Posts: 227 Forumite
I was recently made redundant but plan to start a small photography business to give me a modest income. We already have a couple of flats so some monthly money to live off with my partners income also.
This leaves me with £50K which i'd like to invest as it's earning next to nothing in the bank.
The stock market looks very jittery and property is difficult to find at this price so was wondering what others would do ?
I might considering a small property in Hull or the NE that would give me a reasonable return without needing to borrow money.
Many thanks in advance,
Mike.
This leaves me with £50K which i'd like to invest as it's earning next to nothing in the bank.
The stock market looks very jittery and property is difficult to find at this price so was wondering what others would do ?
I might considering a small property in Hull or the NE that would give me a reasonable return without needing to borrow money.
Many thanks in advance,
Mike.
0
Comments
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How long do you want to tie the money up for and how does it fit with your overall situation?
Age, Dependants, Pension Provision, Debts, other Saving etc?
Generic suggestions would be keep some in cash as an "Emergency Fund", it could take a while for business to grow.
Stocks & Shares type investments can be volatile so ideally suited to more than 5 year time frames, or preferably 10+.
If you have 2 properties already adding another leaves you "all eggs in one basket" if you are not careful and you can't sell "1 Room" just because you need £10k say quickly.0
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