View Full Version : What would you do?
06-01-2008, 07:05 PM
Hi Guy's and Girl's!
Ok, picture this....your 19, in a fairly good job and you and another family member (24YO) are due to get £25,000 each. Your both very passionate about business and have been hungry for success from an early age. But what would you do with the money? I don't want to hear "go and blow it at the casino" or "buy a fast car"! I mean investment for the future! If its start up a business i want to know in what! Perhaps some might buy property while it's in a dip? Others might invest it in shares? Or invest in a small company for a percentage of equity?
But what would you do?
I look forward to you idea's!
06-01-2008, 07:09 PM
Personally i would go scouting for retail properties in your local town and start up a shop of some form. You can get a good business in a good location with that kind of money.
In what? What are you interested in? What do you know alot about? What do you aspire to do in the future?
06-01-2008, 07:31 PM
If you're in a fairly good job and happy then I would put it in a high interest account and make it work for you until you need it for something else.
If you're interested in starting up a business then you need to know what sort of business you want to run yourself - we can't tell you that.
Have you got any experience of running a business? If not, you run the risk of 'blowing' your 25k. The money will come in most useful when you know what you are doing in business - that way you will stand a better chance of spending it effectively.
If it helps to focus your mind: a simple business concept is to buy something one day and sell it the next for a profit. Consider what product you have experience with or are passionate about. This COULD be the most suitable for you. Consider how you are going to sell it and what costs would be associated with this.
Another concept is to offer a service - again, something you have experience with or are passionate about.
Take your time and start small. Ask questions and learn from other perople mistakes.
06-01-2008, 07:43 PM
Personally, I'd invest £24,000 of it in a high interest savers account, and set aside £1,000 to have a dabble in an area that you are interested in, maybe in the form of an online business. Obviously you're not exactly going to have loads of options, but at least you're not risking loosing the whole of the £25k, which, especially as a young person can be so precious.
07-01-2008, 06:01 PM
Lottery Scratch cards ?
07-01-2008, 06:05 PM
50k on red ... £100k :)
ha nah seriously, i kept say 20k and invest the rest in some kind of business
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