Ok /biz/ someone help me out.
Believe it or not I actually won the lottery not too long ago and received £2500 in cash money. It's sitting on my back account right now. Problem is, I know myself, if I don't take care this money is gonna be gone before long...
So I've been reading a bit, asking people, and it seems like investing into buying assets is the hip thing to do.
Now, I understand the concept behind assets as a whole, but I have no idea where to actually start even looking for one. What are my options? What should I know or what should I read? Is £2500 even enough to start thinking about that kind of stuff? Some give me a clue... I don't wanna be broke again.
Hell any advice on how to properly save money would be appreciated.
It all depends what your after, do you want to double your money or do you want to invest it and just be happy with a couple pounds in dividends?
How old are you? Do you have a brokerage account? Read about indexes and how to assess stocks for long term growth. I'm assuming you're not planning on spending time on a daily basis shorting so you're going to want to look for long term growth in any stock you buy. If you legitimately don't want to lose this money you shouldn't touch it until you are VERY confident in your knowledge. Until then I'd recommend putting the money into something like the Vanguard Index Fund. It's a relatively low risk way to start using that money to make more money.
>>1275722
like anon is trying to say
your situation will greatly depend on what you want to do with the funds.
I'm 23. And I don't really have any particular plans for it. I just think that rather than spending it willy-nilly, I would find a way to have it grow over time.
And no I don't have one
>>1275764
I mean if you don't want to spend it and want to be really safe with it, throw it in your super / A Term Deposit / or a Government Bond.
I don't know about Britain but my super in Australia i expect a growth of 8% a year and this year it was 11.8% so it is a good way to secure your 2500 pounds
Buy GXY with it anon. Leave it there for 18 months. Thank me later.
>>1275770
GXY.AX
GXY.V
GXYEF
Which one anon?
>>1275773
GXY.AX - Galaxy Resources
>>1275775
TY anon, are you willing to explain why you think this stock is gonna grow in 18 months?
>>1275777
oh' hi
you must be new here
>>1275779
yeah, I'm giggling at the fact my name changed for all the posts I'm following.
Im sorry if i broke a rule, am i not allowed to ask for reasoning?
>>1275777
Checked
There is some thread on here somewhere GXY related. Check it out. Also watch Hotcopper: hotcopper.com.au/asx/gxy
It's expected to reach 0.80 in a year or less.
>>1275782
Oh, thanks man ill give the link a check on my other PC when i home from uni.
Damn 0.80 thats nearly 100% increase from the price as of right now
>>1275781
GXY has been a /biz/ meme for 2 months now. If you haven't heard of it than it means you haven't browsed this board much.
When this stock was announced end of March it was 0.26 AUD. Today it reached a high of 0.52 AUD. 1 Year ago it was less than 0.05 AUD.
>>1275787
yeah anon, literally a 3 day old fresh spawn who clicked this board by accident instead of /b and pretty much fell in love #nohomo.
>>1275794
It's a great board. Keep an eye on it and stay away from cryptofags. Cheers
>>1275797
hahaha crytofags, as in bitcoins and shit?
>>1275798
Yes.
>>1275803
ahahah the bitcoin seems to be the buzz in the past few days about it reaching the 500 mark or something, why do you stay away from them?
I stay away cause there is literally no security or regulation
>>1275918
>Not wanting to double their money by Friday.
>Allergic to success.
>>1275722
>I'm assuming you're not planning on spending time on a daily basis shorting
and if one was? I am in a similar situation to op with 4k GBP to do something with.
>>1276057
Maybe the nocoiners secretly enjoy missing out on yuge gains? Either way I feel sorry for them
>>1276112
Look up "fear of success". It's a real phobia. Afflicts people like crazy Bernie. Sad!
>>1275710
Put everything on the greek Piraeus Bank trading at €0.26.
> YOU WILL THANK ME
