[Closed] What to do with 70K?

PISS OFF

i'll have a transition covert please

thank you x

*pulls out emergency hob-nobs*

I sympathise. I still reckon there's some value in property though. Prices are low at the moment and lots of folk are desperate to sell.

see how much of it you could shove up your a r se

ds +1
edit carbon +1 😀

Invest it in onions.

offset mortgage (presuming you have/need one)

or

http://www.ebay.co.uk/itm/2008-Peugeot-206-Petrol-/250893837969?pt=Automobiles_UK&hash=item3a6a702691

Invest in Government issued bonds, but to reduce risk, spread it between Greece, Italy and ireland

Tea anyone?

Buy a house.

I believe Jamie has an opportunity for some egg based investments. If it was me.....

[img] [/img]

😀

How the hell did you end up with 70k in your current account OP??

You need to speak to a financial advisor, pronto 🙂

Invest it in onions.

I hear they are crying out for investors.

Am off to hack you account.

If you've managed to get 70k in your account, I'm pretty certain you don't need advice from strangers on an Internet forum.

OP is one of these two?

[img] [/img]

I hear they are crying out for investors.

He needs to get in quick or else the bulb'ill burst.

He needs to get in before the bulble bursts though.

Very true. Last thing he wants is the following scenario:

OP: What? Where is all my money?

Onion Guy: Sorry, the bottom fell out the market.

OP: So I only have £20 left? There must be more?!

Onion Guy: Sorry. That's shallot.

Why all the haters.. There are plenty of reasons that a normal guy has 70K in his bank account and needs some advice. eg just sold a house, inheritance, cashed in a pension. But the nobs jump straight in with the abuse.

He needs to peel one layer off at a time to get to the heart of the matter.

Ta Dah

1: If you have a mortgage pay it off
2: If you don't, spend it on coke and prostitutes.

But the nobs jump straight in with the abuse.

But if the OP has accidentally amassed £70k without quite realising until now, then he really can piss right off.

Why all the haters.. There are plenty of reasons that a normal guy has 70K in his bank account and needs some advice. eg just sold a house, inheritance, cashed in a pension. But the nobs jump straight in with the abuse.

To be fair, only 2 people were outright asshats.

haha some of these are really good 🙂

I do like the look of the Greek market at the moment - "Like when daddy invested heavily in Betamax based video hire shop"

Seriously, I've got a house and I don't have/need a mortgage.

I know this sounds like a wind up, but it's almost harder keeping hold of or growing a lump sum than it is getting it in the first place. And the government want to tax [i]everything[/i] - interest on savings, profit on a 2nd house if I were to buy one and do it up.

And of course 70K isn't actually enough to buy much of a property anyway.

Edit - and I didn't steal in from little old ladies or orphans.

philconsequence - Member
i'll have a transition covert please

thank you x

I already have one of those, its great, but can I swap for it 70k?

And of course 70K isn't actually enough to buy much of a property anyway.

The 'Brough
http://www.rightmove.co.uk/property-for-sale/property-17054088.html

Donny
http://www.rightmove.co.uk/property-for-sale/property-30771925.html

And the government want to tax everything

And you're helping them do just that by leaving it in your current account. That 70k is shrinking every day! Get some advice.

Seriously, I've got a house and I don't have/need a mortgage.

Definitely not boasting.

And the government want to tax everything - interest on savings, profit on a 2nd house if I were to buy one and do it up.

Boohoohoo. 😥

And of course 70K isn't actually enough to buy much of a property anyway.

I believe there's a nice plot of land becomes available in Basildon on Friday. Nice Greenfield site and everything. No sitting tennants

And of course 70K isn't actually enough to buy much of a property anyway.

A repossession might sneak under that amount.

30k worth of premium bonds, 30k worth of premium bonds in your partners name, 10k on a birthday present for me.

did i mention i'd like a covert please? 😛

30K of PB's will earn me approx £800/year on £50 winnings. It's one of the best options, because you're unlikely to win nothing, but you might win a mint (well a mil anyway) 🙂

Binners - yes, a little bit of farmland? I heard there was a small problem with previos tennants, but I daren't mention it on here!

70k Aye right

Firstly I find it very odd that you would tell the world what you have in your bank. But anyway stick some solar panels on the roof of your very large house.

My dad bought a wood for investment and enjoyment with a similar sum
(+ u can build mtb trails of your very own)
I believe they can be made quite tax efficient too

Buy a flat and rent it out?
Buy some woodland?
Invest in a business?
Buy a boat ,pay 10 years of mooring fees up front and hire it out.

Jeez, no imagination OP?

Gary_m +1

The father in law hs just invested in them, pretty much a guaranteed return for next 20years.

As a recently retired money man I listen to what he says..

Wow, a year ago you only had 12k.

http://www.singletrackworld.com/forum/topic/savingas-account-best-interest-rate-available

Seriously invest in property. Assuming it would be a long term investment than your not going to loose money!

That house in Donny looks nice!

Jamie - Those onion jokes had me in bits! 😆

Edit: Mike brilliant!! 😆

Is the OP a banker?

Is the OP a banker?

Buy yourself one of the two Holland & Holland 'Royal' Over-and-Under shotguns you've always promised yourself?

mike - that was more than a year ago! I remember the policy coming out. The forum "date" must be approximate. I ended up spending the money on toys.

oh and you didn't give me any advice that time either!!

financial people on the radio have been raving about this bond issue recently:

http://www.ft.com/cms/s/2/ae128eb8-deeb-11e0-9130-00144feabdc0.html

To coin a phrase:

[i]Buy land, they don't make it anymore[/i]

I certainly can't afford Howies anymore, but anyway.

Sit on the land, brown/green/grey field. Make a pump track, build some trails, build a nature reserve, host rare breeds and open an education centre.

Art?
Wine?
Gold?
Buy a bike shop?
A nice big set of bombers to beat the tax collectors off with?

Gold
Silver
Vintage watches
My vote..

So basically this is just a willy wave then?

In that case, random internet sh*t is called for.

[img] [/img]

[img] http://t0.gstatic.com/images?q=tbn:ANd9GcSFvPlnaytfWe-Xl5URsWCznK53A8z4f2J_3zJErAgwnr22WykmGB27qykK8A [/img]

[img] [/img]

Premium bonds are a terrible investment aren't they?
http://www.moneysavingexpert.com/savings/premium-bonds

I'd suggest you withdraw it as twenties and stick it up your arse sideways.

FFS.

Commercial property fund - cheap at the moment (look at all the empty shops), if things recover then you should do OK.

If things recover...

Why has no one mentioned [s]prostitutes[/s] escorts yet?

http://www.lancashiretelegraph.co.uk/news/burnley/9191387.Burnley_s_cheapest_house_buyer_believes_area_on_the_up/

Property, looks like you could get somewhere between 3 and 8 houses if you look hard.........

i cant imagine why you would ask a question like that on here other than to wave your cock, surely you can afford a financial adviser?

assuming your mortgage is paid off or v small buy more property. buy 3 two bed terraces in somewhere like rochdale at 65-80k each smack the full rental on of 480 a month the mortages might rush you a 1000-1200 but you'd be clearing circa 150/350 a month. tidy

What do you consider a good rate?

Peer to peer lending (e.g. [url= http://uk.zopa.com/member/polwart ]Zopa[/url]) will get you something like 6.8% return if you are sensible. And if you would rather lend to businesses then Funding Circle are advertising rates of over 8%.

Business investment could be another option (possibly through an angel syndicate to spread the risk - but its quite possible you could loose it all).

Of course there are various other options that a financial adviser could suggest based on your expected returns, attitude to risk, timescale you want to invest for, need to access the cash in a hurry, etc. But those two are options that your average IFA probably won't suggest.

Of course you could do something you want / enjoy with it. All the better if that can make you a return too.

Share it with fellow STW members?

Has anybody suggested booze, drugs and cheap hookers yet?

Hello BillyWhizz - don't suppose you're single by any chance? 😉

Has anybody suggested booze, drugs and cheap hookers yet?

Good call! Just squander any change.

Immediately move £20k to a different bank. Government savings protection only covers the first £50k in a single institution. Doesn't look like anyone's going to fold anytime soon, but better safe than sorry eh?

Bet on Barca to win the Champions League.

Immediately move £20k to a different bank. Government savings protection only covers the first £50k in a single institution. Doesn't look like anyone's going to fold anytime soon, but better safe than sorry eh?

Close.....but no cigar.

It's £85K protected these days 🙂

GOLD is where it's at my friend - up 30% in the last year alone and might well go considerably higher if all these countries keep devaluing their own money. Seen as a safe haven in difficult times. For £70k you could get two kilo's of the stuff and become 'the man, the man with the midas touch'.

@Woody2000 - I love the Christ in a dogs arse picture. I bet that followers aren't so keen to claim it as a miracle and make pilgrimages.

Simply invest it in some more drugs? Just a thought.
As a nosey git, has this 70K suddenly appeared or has it accrued over time? Cos if it's appeared over some time It's also time you got a (competant) financial adviser of some sort. If it's appeared suddenly, then well done on the deal(s) or you have my condolences on the death of whoever died.
If your'e for real, get some proper advice either way, rather than ask these lot on here. (Most of them still don't realise an Orange 5 is a f***ing good bike) 😉

PeterPoddy - Member
Has anybody suggested booze, drugs and cheap hookers yet?
POSTED 1 HOUR AGO # REPORT-POST

essel - it was a lump sum that came through. Even I wouldn't sit and let 70k build up slowly!

And its a serious question - but of course I need to talk to a pro really (financial pro - not a sex worker)

I'm not overly confident in the so called pros though.

id give ya a big chuck of my bike shop empire for that....

[i]I'm not overly confident in the so called pros though[/i]
But your'e confident in this lot on here? 🙄

Still, don't blame you for 'testing the water' as it were. I think I did the same 18 months ago when I got 48.5K 😀

As always diversify, spread your cash and spread your risk.

Zopa is a good idea, I put some money into it last year to see how it went. Got an average of just over 8% on it. Their is a limit of £25k

Gold is look expensive at the moment, apparently, but they said that last year.

ISA obviously, but you'll only get about 3%. But the goverment doesnt get any of it.

You could try some shares, but spread it around. Banks look cheap 😯

Some good bond rates for 5 years and looks like we're ****ed for the next decade or so, so 5% for 5 years may be a good idea. Leave the intrest in to compond it.

cycleworld - I would do, but I can't see this MTB lark ever taking off . . . 😉

essel - the good thing about "this lot" is that they can give you a wide range of ideas, none of them are on commision! lol

Love the idea of owning a wood . . . but how to keep the "people who live in vans and old mini-busses" out?

Quit your job and move somewhere better than the UK for a while. Extended holidays for the win.

simple, buy a wood, build a small house for mrsconsequence and I, pay us a tidy annual sum for being 'Keeper of the wood'

i'd only do it if you also made me a badge with 'keeper of the wood' written on it.

😀 why stop at "keeper of the wood" Phil? You may as well do it properly and call yourself Wood Overlord or The Wood Baron - all your trees are belong to us.

Sensible suggestion alert!

If your house faces the right way, get the roof covered with solar PV. Better return than any bank account. Might cost 15-20 k

ohhhhh i like "Lord Overlord, Baron and Keeper of the WhizzyWood"

i accept your kind job offer billywhiz, i'm good to start in the 3rd week of october x

We don't sell too many mtbs nowadays all hybrids and road bike to mamils....still do well with orange fives though!:-)

I'd invest in common sense, theres a lot of that stuff missing these days.