Money

Boy_vs_Girl
Boy_vs_Girl

Hi Veeky Forums.
I'm due to inherit about £300,000. In Bong pounds. It's about $434,520 in US dollars. Also property worth about £500,000. $724,120 USD.

I must split it 50/50 with my sis. My mum is dying. We went through all the calculations yesterday.
It was a horrible experience. The only family I will have in a few months is my daughter. My wife died from a heart attack. Mum will be gone, and she knows it.
Dad died years ago. I nursed him. And watched him die. The breathing just stopped. It was peaceful. I saw how much pain he was in and it just ended. I'm 48. My wife died from a sudden heart attack, and I'm a single dad with a son and daughter. I'm also caring for my mother who is dying. Cancer was very slow for my dad. It going quick for my mum. She's 76. I'm 47.
My sister and the rest of my family are in New Zealand. I've sent my sister the money to come back to England so she can be here.

Anyway, personal stuff aside, I'm a plumber. I install showers and fix drains. I measure water pressure and sort it out, etc.

How can I invest money to ensure that I don't fuck up?

cum2soon
cum2soon

I would say, don't. We're on the verge of a horrible global recession, and investing could jeopardize what you already have.

If you want to go through with it, I would recommend investing a small amount of money in Pixium Vision. It's a French company creating bionic eyes. The solution has tremendous upside, given that it has medical, militaristic and intelligence related ramifications.

Godspeed, man. I hope things work out well for you and your kids.

Inmate
Inmate

@cum2soon
holding cash isn't going to do him any good either if hyperinflation hits

I'd personally go with metals, cryptokeks, and land, but I don't want my advice to make you lose half a mil op

lostmypassword
lostmypassword

@Boy_vs_Girl
£400k
Move to nz, uk is just getting worse and worse

kizzmybutt
kizzmybutt

Gold or land

hairygrape
hairygrape

@Inmate
Land would be a great investment if we weren't headed for war, and with the cold war about to be back in force, things will be difficult.

I wouldn't know much about cryptocurrencies, but they might be worth looking into.

Playboyize
Playboyize

@Boy_vs_Girl
Invest it in a diversified portfolio.
i.e. spend the first few months learning about investing

Then retire and live a modest lifestyle.

DeathDog
DeathDog

@lostmypassword
I visit NZ twice each year. I love it. But my feet are firmly planted in England. I was born and raised here. I like the cold. I'm not shifting. Pic is my home.

No fucking way I'm moving. I also need to stick to my family and mates. The bit of England that I live in is fucking beautiful. The cities are hell.

Fuzzy_Logic
Fuzzy_Logic

jesus christ this thread

we are on the verge of another great recession
no it's war
no it's world war
Oh but here's a shitty biomed stock, put all your money into that

New_Cliche
New_Cliche

@DeathDog
I also need to stick to my family and mates
So which is it? Family or mates? Because your family will have much better prospects and opportunities in New Zeland.
But if you are just a selfish cunt who wants to get drunk in local pub then yeah stay in your lovely village

Fried_Sushi
Fried_Sushi

@New_Cliche
Are you implying he drag his entire family with him halfway across the globe?

You can't just pick up your grandparents, parents, all your brothers and sisters, all your extended aunts and uncles and nieces and nephews and bring them to NZ with you.

Nude_Bikergirl
Nude_Bikergirl

@Fried_Sushi
No but he can bring his son and daughter.

Lunatick
Lunatick

Putting 10-15%, maybe more into gold, silver or cryptocurrency is a good insurance against the recession a lot of people are expecting. If you don't know a lot about crypto I recommend Kraken.com, they seem to be the most serious and professional exchange for crypto.

If you decide to buy gold or silver be sure to not buy a piece of paper that only theoretically will be exchanged for gold. A lot of sketchy people in that business, you would risk them going bankrupt and your gold evaporating. I personally own silver coins and I store them in a safe, get insurance and keep quiet about it. Keep in mind that there is a historical precedent for precious metals being confiscated by the state in times of emergency.

Remember to live. Not saying you spend it all on blow and hookers, but a nice vacation doesn't have to be terribly costly and it can be helpful to get away some times. Best of luck OP.

Soft_member
Soft_member

@Lunatick
So I've been interested in buying bullion, and it seems like I can buy it and have it shipped to me easily from reputable sources.

But how would I sell it if I ever needed to?

And would it be better to buy, for example, 1 1oz coin or 4 1/4oz coins (or any other smaller fraction)?

haveahappyday
haveahappyday

@Soft_member
buying bigger amounts generally has lower markup. hell, buy bars if they fit into your price range

takes2long
takes2long

I am not a CFA. My advice is as follows: depending on risk tolerance, 30% bonds, 30% stock index, 30% land, 10% cash/gold.

Generally, index funds that track the S&P500 (or whatever you use in bongland and merkuck country) are regarded as safer investments. Examples of firms that vend those are Vanguard and Spidr here in the states. "Normal" returns are in the range of 6-9%. Holding a single firm's stock is an awful idea for managing risk/not fucking it all up - invest in the index (read anything by John Bogle for more info).

Bonds are the safest of all investment vehicles (but not necessarily safe in the case of a governmental collapse) but yield a lower return - US T-bills are on the order of 2% for 20 years; you can go into inflation protected assets (TIPS) if that's your concern.

As others (@Lunatick
) have mentioned, very stable investments include PHYSICAL gold/silver (I would say ammo but you can't have any) will increase in value during crises.

If you don't own your house you should buy it. As others have mentioned too, I would consider leaving UK for NZ/AUS, especially if your extended family is there already. The demographic trends in Europe are frightening and it will be OK until it rapidly isn't and then it will be too late to leave.

Talk to a CFA. You're also in 'wealth management' territory above 6 figures liquid.

Sorry about your family mate.

t. MBA student

iluvmen
iluvmen

@Soft_member

I bought 1 oz silver coins, that is a small enough amount that a single coin is possible to exchange for something simple like food or gasoline while not drowning me in metals. So for instance, if hyperinflation actually happens, someone might be more inclined to accept silver than fiat for a few tanks of gas. I don't think this is very likely to happen mind you, but it is a consideration I made. If you wanted to sell it you could either sell it online on something like ebay or just go to one of those places that will give you money for precious metals. I don't consider it an investment to get rich from, more as an insurance. It's always possible to find a buyer, just a question of price.

There is a markup for coins because of the work that goes into making them. On the plus side you have a proof of the amount silver right there on the coin and it's easy to tell that you haven't done anything to fuck with it, like filing off the sides. I didn't get any bars because those are taxed at 25% extra in my country, so coins were actually cheaper. Not sure how that works in GB.

Garbage Can Lid
Garbage Can Lid

@Boy_vs_Girl
Warren Buffett's advice to the trustee of his wife's estate for when warren dies:
"My advice to the trustee couldn't be more simple: Put 10% of the cash in short-term government bonds and 90% in a very low-cost S & P 500 index fund. (I suggest Vanguard's.) I believe the trust's long-term results from this policy will be superior to those attained by most investors — whether pension funds, institutions or individuals — who employ high-fee managers."

also, talk to a professional. you're a plumber... would you recommend that i design and plumb an apartment buliding without any training or experience?

farquit
farquit

@Boy_vs_Girl
I'm 48
I'm 47
Fuck. At least your not growing any older!
Go 70/30 in bonds and stocks like any investment advisor would tell you. Maybe 80/20, economies are going to take a shit soon.

askme
askme

you should talk to other plumbing companies and offer to buy out their business, you could form a larger regional plumbing chain.

i don't understand investing, nobody gets rich earning 10% on 100k.

you're betting off spending your money on value that you can grow yourself.

idontknow
idontknow

@askme
nobody gets rich earning 10% on 100k.

what is compound interest

Evil_kitten
Evil_kitten

Honestly, go see a financial advisor. They're sort of scum, but they can help you figure out what to do.

The big issue i see here is it's not clear what your goals are. Do you want to invest that money to spend it? To fund retirement? To own a home? To start a business? To support your daughter?

No matter what i wouldn't invest it on your own. It can be good to have an adviser. They can keep you for doing stupid shit like selling when the market is tanking. And stick to conventional boring investments, stocks / bonds / real estate. People lose a lot of money trying to earn a 10% return instead of an 8% return.

Poker_Star
Poker_Star

@cum2soon
Don't invest, we're going to be in a recession
But if you must invest, bionic eyes are the way to go

Bionic eyes are gonna be fucken useless in a recession mate

Evilember
Evilember

@Playboyize
@takes2long
This.

Ignore any specific company investments or risky things like bitcoin. Put it somewhere safe and get some nice interest to make your life easier and work less hours.

okay okay I love bitcoin but only put a small fraction in things like that.

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