£200k and don’t know what to do with it

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K-One

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Hard earned money. Not allowed to touch it till I turn 21 which is just LOL because as it stands i’m getting 20p ie £0.2 interest on it.

Birthday is coming up, any not so legally binding contract ie promise I made is coming to an end. And now I need ideas about what to do with it.
 
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TheShrewMan said:
Put it all in an index fund. You can easily live off 20k per year (assuming you're not living in London).
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20k? So 10% yield. Seriously?? And are the funds backed by anything?
 
K-One said:
20k? So 10% yield. Seriously?? And are the funds backed by anything?
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Yeah 10%. Its the stock market, so they're real companies!

I would then invest any dividends into a stocks and shares ISA to get tax free income.

I would also get a job, so I can save up money to build an income online.

That's what I would do personally.
 
I would do research and start an e-commerce website. Spend like $10k to test
 
RushingWind said:
Assuming that this is an inheritance, you’d be better off asking whoever’s leaving it for you on how to use it wisely rather than a bunch of people on a forum.
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the rush has spoken
better to have that money continue in its first trend
 
RushingWind said:
Assuming that this is an inheritance, you’d be better off asking whoever’s leaving it for you on how to use it wisely rather than a bunch of people on a forum.
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Haha well not exactly an inheritance but I imagine the answer would be just leave it where it is.

Some solid ideas to look into here though!
 
K-One said:
Haha well not exactly an inheritance but I imagine the answer would be just leave it where it is.

Some solid ideas to look into here though!
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Yeah, definitely do not do anything like that.
I suggest though, whatever route you take, try to do a test run in the smallest scale possible, then play bigger after you have learned all the in and out of the route.
 
Be very conservative with it, that's all I'd say. Very, very conservative.

You know what that means - at best invest some percentage in carefully researched real estate purchases and try and trade that off for a profit or make use of it by renting it out. If there are profitable offers of real estate around you take the opportunity, but always think twice before hand.
At worst - do nothing until you gain some lived experience.

Time is on your side right now - take your time and be alert. Don't rush out on anything, especially crypto investments and such. Good things happen to those who wait their time and use their brain.
 
I advise you should invest on another currency e.g. if you live in the united kingdom and you know that British pound has value than your currency, you can actually put you money in the bank with that currency, your money will increase as the currency increase - Advice from an 16 yrs old boy.
 
If you're into business or want to get into it and think you have what it takes, thats what I would do. If I can turn $1k budget into multiple 6 figures in ecommerce revenue in 8 months, imagine what you can do (if done right of course).
 
Do anything with your money, except replying and responding to the "ex-prince" of any country, except replying and responding to "double / triple your money ...." type of schemes. Be careful, do not get scammed.
 
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