What to do with money.

[cleanbluesky]

It shocks me how little people understand money. I know just enough to know that you don't take financial advice of a vB forum.

[Kell_ee001]

Originally Posted by cleanbluesky

I know just enough to know that you don't take financial advice of a vB forum.

Do you ever take advice from friends?

[cleanbluesky]

Originally Posted by Kell_ee001

Do you ever take advice from friends?

Financial advice - only if they have shed loads of money and are excellent at investing. Otherwise no.

I also made my comment because I believe that people are kept deliberately ignorant of financial matters. I consider financial matters to be very important, yet that importance was never ever expressed at school.

EDIT: Friends are there for emotional support, if I want certain information that's another matter.

P.S. : Buy GOLD

[A Place of Light]

Originally Posted by AboveTheSalt

Have you actually done this?

Unfortunately no, as my savings are all tied up elsewhere.
However, I would be looking into this as the general opinion seems to be that the gold bubble hasn't topped out just yet.

Originally Posted by Bakez

yes i would also recommend buying gold while it is at an all time high and the worst of this 'crisis' seemingly over

1) Gold prices dropped aprroximately 5% this week, ergo they cannot be at an all time high at the moment, can they?
2) If you look at the past ten years, gold prices have been on an upwward trend, and there is no indication that this fact has changed and won't carry on for the forseeable future.
3) The worst of this "crisis" is over? Source?

[A Place of Light]

Originally Posted by Bakez

lol at asking for a source

you dont have 'sources' for things like that you make your own mind up using all the other information that is out there rofl..

And that information would be???
Given that everyone and their uncle is predicting that unemployment is going to rise significantly, the FTSE 100 is almost at the lowest point it's been in the last 6 months (and most definitely on a downward turn at the moment), the housing market is dead in the water and the banks don't have enough confidence between them to lend each other a fiver, you'll forgive me if I don't get out the bunting based on your "opinion".

Originally Posted by Bakez

gold has been on an upward trend and has tried to break through $1000 more than once over the past 2 weeks and hasnt suceeded.

where is your 'indication' that gold will continue to rise?

With a little fluctuation, gold has increased in value by approximately 40% over the last 6 months. Many Industry analysts (people that know more than you or I) share the opinion that it hasn't peaked yet in the short term, and in the long term gold consistanly increases in value.

Originally Posted by Bakez

it may well rise but plundering thousands into gold for the chance of it getting to 1200 but with the bigger chance it will either stay the same or fall is stupid

Investing anywhere but in a bank account is a risk While there is never a "sure thing" out there, some investments look better than others.

Originally Posted by Bakez

by the time u have paid trade fees and tax unless you literally do have hundreds of thousands investing is practically a waste of time unless you planning on keeping the stock for 10 years and getting the divi which less face it is a waste of time as well

As I said in my first post, it al depends on how much the OP has to invest.....plus what kind of return/risk he desires.

[Fayshun]

Originally Posted by Bakez

well over the past 3 years i have turned 1k into £4600

Buy a keyboard with a working shift key then.

[A Place of Light]

Originally Posted by Fayshun

Buy a keyboard with a working shift key then.

Unless PC world starts taking Monopoly money then I don't see how that's possible

[Fayshun]

[AboveTheSalt]

Originally Posted by Bakez

well over the past 3 years i have turned 1k into £4600

pResUmablY By inVestInG £1,000 in oIl?

[A Place of Light]

Originally Posted by Fayshun

Bakez top tip for the current investment situation:-

Put hotels on Park Lane and Mayfair so you can catch them with their pants down before passing go.