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scottbell

What Should I Do With 500k Now

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Hi,

I just sold some property, some shares etc. My bank balance reads 500K in cash.

Right so what should i do with the money?

1. commodities?

2. shares

3. asia/china..investment

4. currencies and spreads

5. bonds

6. swiss account and never declare the interest

7. buy a big house and sink with the titanic.

So, where is the wise money going now? what are the rich doing as oil peaks, and the global encomomy goes for meltdown.

Any advice, is greatly apprecited. i may have 500K cash, but i don't really have a clue what to do.

PS, if someone says..put it in xyz, can you be specific...

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Hi,

I just sold some property, some shares etc. My bank balance reads 500K in cash.

Right so what should i do with the money?

1. commodities?

2. shares

3. asia/china..investment

4. currencies and spreads

5. bonds

6. swiss account and never declare the interest

7. buy a big house and sink with the titanic.

So, where is the wise money going now? what are the rich doing as oil peaks, and the global encomomy goes for meltdown.

Any advice, is greatly apprecited. i may have 500K cash, but i don't really have a clue what to do.

PS, if someone says..put it in xyz, can you be specific...

I'd convert the lion's share into physical gold & silver and find somewhere secure to bury it.

The rest leave out for speculating on gold or oil stocks. And obviously some to live on.

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Anyone asking for financial advice on an internet forum should be aware of this:

forum rules

That is, IMO, people are relating experience (possibly misremembered or misinterpreted), offering their (fallible) opinion and answering questions about factual information (possibly wrongly), and most importantly learning. Everybody here must make their own financial decisions.

sorry, appreciate this. it was in a bit of jest i asked, since obviously..i make the decisions.

it was just for some advice to see the options, not really get advice as such.

anyhow, to be brutal, at my age, 500K is a pension and my future! for my family. aint that big a sum.

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anyhow, to be brutal, at my age, 500K is a pension and my future! for my family. aint that big a sum.

If you want an income for life, look at an high yield portfolio (hyp). Although you could lose money (on paper - as you don't cash in the shares unless the yield drops), the income will hopefully be steady and rising.

http://www.fool.co.uk/ is the place to research this sort of thing.

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I have people ask me for help all the time. Last nigh I had dinner with a wealthy guy who invested

just under $1million based on my suggestions, and in under 2 years, he triple it. I have now recommended

that he sell down some of those investments, and return his starting capital to his other safer accounts.

After dinner, we met another friend for drinks, and she had heard about this return, and asked for my

help too. I asked her how much time she was willing to spend learning about investing. She said,

"Well, no time if possible. I would leave everything to you." That made me very nervous, and I did not

want to help her. I told her that I would worry too much about the harm that a loss might do to her.

BTW, I have been asked by PM for some similar help, and I have offered to make some suggestions

on GEI. And I may start a thread there to discuss this issue.

Be carefull DB - you must not manage other people's money or you will be breaking FSA rules. Prisonable. Also, if you fack up she'll complain to the authorities - you watch. (However good a 'friend')

Scott - There are of course 1000 things you could do but personally I will only say one single thing: your situation is yours and is no-one else's. Seek bespoke advice and be prepared to pay for it. A good adviser will not take on a client unless s/he can add value after costs.

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Be carefull DB - you must not manage other people's money or you will be breaking FSA rules. Prisonable. Also, if you fack up she'll complain to the authorities - you watch. (However good a 'friend')

Scott - There are of course 1000 things you could do but personally I will only say one single thing: your situation is yours and is no-one else's. Seek bespoke advice and be prepared to pay for it. A good adviser will not take on a client unless s/he can add value after costs.

:o Thanks for that nugget of advice. Everyone should take it as a warning and think carefully before considering discussing finance with friends or family. Get it wrong and you'll get locked up for not having the right letters after your name.

Hanging's too good for them... ;)

GB

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:o Thanks for that nugget of advice. Everyone should take it as a warning and think carefully before considering discussing finance with friends or family. Get it wrong and you'll get locked up for not having the right letters after your name.

Hanging's too good for them... ;)

GB

No.

This is the wrong way around.

If he has the letters after his name, you can sue the b****d if he gets it wrong. That's the point of the letters. He then knows where he stands and gives you wishy washy advice, leaving it up to you to make a decision.

Contrast friends, family and ESTATE AGENTS who have NO LETTERS and NO REGULATION. They nail their flags to the mast in a arrogant manner and tell you DAMN WELL where you should put your money, and they do this WITHOUT A SECOND THOUGHT. If they get it wrong then there is NO LEGAL COMEBACK AT ALL.

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As well as letters and regulation, does the adviser actually give (sell) advice or does s/he sell products.

We would normally accept that a lawyer does not sell products but advice. If the only way a financial 'adviser' earns is if you effect a product ie a clear charging structure has not been agreed then it would seem s/he is a product salesperson first and therefore we can deduce not much cop.

Having said that stockbrokers have clear charges and I won't touch them with a bargepole. Its not easy.

Re DBs comment about advisers' success on managing investments - financial advisers manage wealth not just investments ie tax planning, estate planning, what happens if you fall ill etc etc as well as managing money.

HTH

FP

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
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      • Even
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