£2500. What do?

PurpleCharger
PurpleCharger

Ok Veeky Forums 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.

whereismyname
whereismyname

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?

Spazyfool
Spazyfool

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.

Crazy_Nice
Crazy_Nice

like user is trying to say
your situation will greatly depend on what you want to do with the funds.

hairygrape
hairygrape

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.

Playboyize
Playboyize

And no I don't have one

Techpill
Techpill

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

TreeEater
TreeEater

Buy GXY with it user. Leave it there for 18 months. Thank me later.

Sharpcharm
Sharpcharm

GXY.AX
GXY.V
GXYEF

Which one user?

Skullbone
Skullbone

GXY.AX - Galaxy Resources

Emberburn
Emberburn

TY user, are you willing to explain why you think this stock is gonna grow in 18 months?

Evilember
Evilember

oh' hi
you must be new here

Flameblow
Flameblow

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?

SniperGod
SniperGod

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.

TalkBomber
TalkBomber

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

TurtleCat
TurtleCat

GXY has been a Veeky Forums 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.

DeathDog
DeathDog

yeah user, literally a 3 day old fresh spawn who clicked this board by accident instead of /b and pretty much fell in love #nohomo.

eGremlin
eGremlin

It's a great board. Keep an eye on it and stay away from cryptofags. Cheers

BinaryMan
BinaryMan

hahaha crytofags, as in bitcoins and shit?

CodeBuns
CodeBuns

Yes.

BunnyJinx
BunnyJinx

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

Harmless_Venom
Harmless_Venom

They haven't even heard of Trumpcoins

Flameblow
Flameblow

Not wanting to double their money by Friday.
Allergic to success.

eGremlin
eGremlin

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.

farquit
farquit

Maybe the nocoiners secretly enjoy missing out on yuge gains? Either way I feel sorry for them

Soft_member
Soft_member

Look up "fear of success". It's a real phobia. Afflicts people like crazy Bernie. Sad!

happy_sad
happy_sad

Put everything on the greek Piraeus Bank trading at €0.26.
YOU WILL THANK ME

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