Personal Finance Thread

[Daemon]

That's...risky tstl

 

[Burgey]

All my finances are in crypto

40% btc
20% each in eth, ltc and link

Why?

 

[CricAddict]

All my finances are in crypto

40% btc
20% each in eth, ltc and link

We need to speak more, MM. Mine is 50% crypto and 50% stocks. And out of that 50%, 50% in btc and 50% in alt. Interested to hear your thought process behind this investment. Are you 100% confident in crypto boom?

 

[RossTaylorsBox]

Why are you dumbasses investing in crypto

 

[sledger]

Yeah, crypto is literally the last thing I'd invest in

Modern day version of snake oil

 

[GIMH]

I invest all my spare money in vinyl

 

[marc71178]

My (admittedly small) share portfolio is in the pub and leisure industry. Had hit a record unit value at end of December. Now about 40% lower.

 

[CricAddict]

My (admittedly small) share portfolio is in the pub and leisure industry. Had hit a record unit value at end of December. Now about 40% lower.

That's quite different. Unfortunately should have hit hard now. Probably might get hit further this quarter since most of those are closed now.

 

[CricAddict]

Why are you dumbasses investing in crypto

Have got a lot of this. It is dumbass until you know how to play the game.

 

[hendrix]

The idea of investing for future passive income sounds really nice to me.

The reality is though when I actually analyse the value of my investments - interests and dividends or even property or whatever - none of them are ever likely to be a significant earner to me, in comparison with my main career and the steps that I can make there.

It sounds like some hippy **** but I do think the best investment I can make is in myself - i.e. even further higher education to increase my salary and/or utilising my skills/knowledge to start my own business or some type of side hustle. I mean I guess it's possible to buy shares in the next microsoft which would be lovely but surely that's wishful thinking.

Kinda getting the feeling that passive income is for people who have already made it.

 

[Daemon]

The idea of investing for future passive income sounds really nice to me.

The reality is though when I actually analyse the value of my investments - interests and dividends or even property or whatever - none of them are ever likely to be a significant earner to me, in comparison with my main career and the steps that I can make there.

It sounds like some hippy **** but I do think the best investment I can make is in myself - i.e. even further higher education to increase my salary and/or utilising my skills/knowledge to start my own business or some type of side hustle. I mean I guess it's possible to buy shares in the next microsoft which would be lovely but surely that's wishful thinking.

Kinda getting the feeling that passive income is for people who have already made it.

Regarding the bolded, of course the vast majority of people don't see this as their primary source of income. But unless you're literally using all your money on upgrading yourself or your business as soon as you get it, what else do you do with your savings?

 

[marc71178]

That's quite different. Unfortunately should have hit hard now. Probably might get hit further this quarter since most of those are closed now.

It’s an investment club I’m in, not talking about massive amounts of money and basically doing that rather than putting it in a bank account with the pitiful interest available. Up to that point it had been pretty much increasing year on year making solid returns so with the current fall I’m probably back to around parity with the amount I’ve put in. I’m confident it will bounce back once the lockdown finishes as I’m expecting people to go mad for a while so longer term I’ll be ok (and if it all disappeared I’d still be ok as it’s only spare money). Doesn’t stop the wife being annoyed though and wanting to pull it all out now!

 

[RossTaylorsBox]

Have got a lot of this. It is dumbass until you know how to play the game.

Guy at the roulette wheel: nah its all good I got a system

 

[Burgey]

Theres a few blokes on here who need to get out of Inceland and put some dough into moving out of mum’s basement instead of worrying about nickel and dime Stockmarket plays.

 

[hendrix]

Regarding the bolded, of course the vast majority of people don't see this as their primary source of income. But unless you're literally using all your money on upgrading yourself or your business as soon as you get it, what else do you do with your savings?

Yes - it makes more sense to me to put 100% of whatever leftover income into developing my active earning (after the safety net savings + retirement fund). I doubt passive income is ever going to be much of a thing for me, well at least not for another 30 years.

In practice I do neither and spend the money on cool shoes.

 

[sledger]

The idea of investing for future passive income sounds really nice to me.

The reality is though when I actually analyse the value of my investments - interests and dividends or even property or whatever - none of them are ever likely to be a significant earner to me, in comparison with my main career and the steps that I can make there.

It sounds like some hippy **** but I do think the best investment I can make is in myself - i.e. even further higher education to increase my salary and/or utilising my skills/knowledge to start my own business or some type of side hustle. I mean I guess it's possible to buy shares in the next microsoft which would be lovely but surely that's wishful thinking.

Kinda getting the feeling that passive income is for people who have already made it.

This is literally what you live for though

 

[Flem274*]

i've been a chardonnay socialist all along. i am fortunate to be in a position where i can invest in a little business that touch wood, is pretty boring and secure and i am related to people involved.

i get solid interest. almost at the point where i could double the investment to really get it rolling but i think with covid-19 i'll hold back.

in my real job i'm on a paycut atm due to the plague and i will probably stay on a voluntary cut for a few months.

 

[D/L]

Interesting thoughts. I am sure consulting will not be the same again and also the IT services sector will see how much more they can scale down onsite presence. Personally, I feel it is the travel tourism and hospitality industry that will take the biggest hit though. It really survive on people basically splurging and it is gonna be very rough for them to bounce back from this. The social media age has played a great role in getting this industry scale some amazing heights but that is pretty much gone now. I feel even the education sector may take a hit with lesser number of students ready to go overseas.

Existing drivers for scaling down on-site presence, cost, energy conservation etc. will continue to apply. I doubt this current situation will add that much to this well established trend or have much of a long term effect on tourism, hospitality etc.. Demand for these will pick up again as the current unpleasantness becomes an ever more distant memory.

 

[honestbharani]

Nothing to do with what you posted mate but the word you used reminds me of a book (novel) I read.. Daddy by Loup Durano. Think it was originally in French and translated but the book was set in the time of WW II and a German bank director describes the second world war as the "minor unpleasantness" when talking to a US citizen.

 

[D/L]

Nothing to do with what you posted mate but the word you used reminds me of a book (novel) I read.. Daddy by Loup Durano. Think it was originally in French and translated but the book was set in the time of WW II and a German bank director describes the second world war as the "minor unpleasantness" when talking to a US citizen.

I wouldn't qualify either occurrence with the word "minor", hb.

I suppose my use of the word may have been inspired by a dim and distant memory of comedies set in war time, such as "It Ain't Half Hot Mum" which, for some reason, is hardly ever shown now. Any road up, here's a clip taken at random (not the one that may have prompted my use of the word).

https://www.youtube.com/watch?v=x-ghNgE8QYc